Gulf South Angels

Nonprofit profile at a glance

EIN
464673422
IRS 990 coverage
2023–2025
Forms available
Form 990 2025, Form 990-EZ 2022
Location
New Orleans, LA, USA
Phone
5048370899
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$249,583
Expenses
$213,759
Assets
$283,342
Liabilities
$101,694

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • MICHAEL ECKERT (PRESIDENT)

People named in this filing

  • ALISON HARTMAN (DIRECTOR)
  • BRIAN MORA (TREASURER)
  • BYRON LEBLANC (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

For the purpose of promoting the education of the american public in early stage investment opportunities, entrepreneurial endeavors and business conditions for early stage companies, primarily in the state of Louisiana, but including companies in other locations.

What it reported doing in 2025

Member meetings - the organization meets monthly in new orleans, la with the exception of one month during the summer. The meetings include on average 50 of its 100 members. In attendance at these meetings, early stage companies, seeking capital, present to the members. The members then decide if the early stage company is worth performing due diligence on and worthy of an investment. All due diligence is presented to the members at further meetings. Members then make their own determination of whether they want to individually invest in the start-up entity.

Operating model

Revenue model
Membership-supported. 75% of the money available for current operations came from membership dues.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.4%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.33; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 100% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $214K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.