Fund 17

Nonprofit profile at a glance

EIN
461492881
IRS 990 coverage
2020–2022
Forms available
Form 990 2022, Form 990-EZ 2019, Form 990-N 2016
Location
New Orleans, LA, USA
Phone
5046564176
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Reported finances

Revenue
$255,460
Expenses
$168,982
Assets
$635,448
Liabilities
$20,318

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Ashley Garcia (President)
  • Lilith Winkler-Schor (Vice-President)

People named in this filing

  • Ashley Garcia (President)
  • Daniela Capistrano (Director)
  • Fredell Butler (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fund 17 makes entrepreneurship attainable for underrepresented entrepreneurs in the 17 wards of New Orleans. We manage a community business incubator and assist entrepreneurs in growing their businesses and accessing capital.

What it reported doing in 2022

Capital Access - Capital Ready is a 10-week program that matches entrepreneurs with a Financial Specialist for weekly 1on1 meetings to work on personal and business finances and prepare to apply for a loan

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 86
  • Accountability: 64
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47%; rating input score 47
  • Program expense ratio: 71%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 33.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 3.76; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 27.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 50.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 47% of revenue deployed · 71% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $120K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2020 to 2022
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.