2020-09-10T17:14:26-05:00 2019-12-31 721202445 POSTLETHWAITE & NETTERVILLE ONE GALLERIA BLVD STE 2100 METAIRIE LA 70001 990 2019-01-01 263223585 SOCIAL ENTREPRENEURS OF NEW ORLEANS SOCI 5043223282 4035 WASHINGTON AVE NEW ORLEANS LA 70125 STEPHANIE BARKSDALE BOARD CHAIR 5043223282 2020-08-29 1 SHARON CASSIERE P00543368 5048375990 206.124.204.139 2020-08-29 12:05:15 CD P 8A9FCE75C526F485498A3C79A01891D85F5BFDDE A0EBB9602853385E58E3681EC02E22C7AFB68479 2019 2020-11-19 02:30:22Z PROPELLER A FORCE FOR SOCIAL INNOVATION ANDREA CHEN 4035 WASHINGTON AVE NEW ORLEANS LA 70125 2753976 0 X WWW.GOPROPELLER.ORG X 2008 LA PROPELLER GROWS AND SUPPORTS ENTREPRENEURS TO TACKLE SOCIAL AND ENVIRONMENTAL DISPARITIES. 12 12 23 70 28998 16005 1667820 2590385 0 159234 619 697 14553 -10144 1682992 2740172 413025 36500 0 0 1273857 1340806 0 0 185430 720096 698981 2406978 2076287 -723986 663885 901560 2729329 115780 1286405 785780 1442924 X PROPELLER GROWS AND SUPPORTS ENTREPRENEURS TO TACKLE SOCIAL AND ENVIRONMENTAL DISPARITIES. OUR VISION IS AN INCLUSIVE AND THRIVING ENTREPRENEURIAL ECOSYSTEM IN NEW ORLEANS THAT RESPONDS TO COMMUNITY NEEDS AND CREATES THE CONDITIONS FOR AN EQUITABLE FUTURE. 1 0 1435501 36500 159234 SINCE 2011, PROPELLER HAS ACCELERATED 245+ SOCIAL VENTURES THAT HAVE COLLECTIVELY GENERATED OVER $162+ MILLION IN REVENUE AND FINANCING AND 485+ PERMANENT JOBS. WE BELIEVE THAT BY BUILDING A CRITICAL MASS OF ENTREPRENEURS SOLVING SIMILAR CHALLENGES FROM DIFFERENT ANGLES, WE CAN MOVE THE NEEDLE ON OUR CITY'S MOST PRESSING ISSUES IN COMMUNITY ECONOMIC DEVELOPMENT, EDUCATION, FOOD, HEALTH, AND WATER.THESE ARE THE CORE ORGANIZATIONAL ACTIVITIES:IMPACT ACCELERATOR PROGRAM - PROPELLER'S IMPACT ACCELERATOR IS AN INTERACTIVE 4-MONTH ACCELERATOR PROGRAM THAT PROVIDES STARTUP AND GROWTH ENTREPRENEURS WITH COACHING, COMMUNITY BUILDING, CURRICULUM, AND TECHNICAL ASSISTANCE. OUR PROGRAM ENABLES ENTREPRENEURS TO BUILD VENTURES THAT ARE GROUNDED IN FINANCIAL VIABILITY, SOCIAL IMPACT, RACIAL EQUITY, AND A DEMONSTRATED COMMITMENT TO THE PROSPERITY OF OUR CITY AND REGION.SOCIAL VENTURE FUND - PROPELLER'S SOCIAL VENTURE FUND IS A $1 MILLION LOAN FUND THAT PROVIDES LOANS BETWEEN $20,000 AND $100,000 TO ENTREPRENEURS OF COLOR IN THE BROAD STREET COMMERCIAL CORRIDOR, AS WELL AS BUSINESSES AND NONPROFITS TACKLING DISPARITIES IN THE AREAS OF FOOD, WATER, HEALTH, EDUCATION, AND COMMUNITY ECONOMIC DEVELOPMENT.ALUMNI PROGRAM - WITH OVER 250 BUSINESSES AND ORGANIZATIONS IN ITS NETWORK, PROPELLER STRIVES TO PROVIDE CONTINUING SUPPORT AND OPPORTUNITIES TO ENTREPRENEURS AFTER FINISHING THE IMPACT ACCELERATOR PROGRAM. SUPPORT TO ALUMNI VENTURES MAY INCLUDE BUT IS NOT LIMITED TO WORKSHOPS, ROUNDTABLES, COMMUNITY-BUILDING EVENTS, TECHNICAL SUPPORT, AND ACCESS TO NEW NETWORKS BASED ON NEED AND AVAILABLE RESOURCES. WITH THE EVER CHANGING ENVIRONMENT OUR ALUMNI VENTURES NAVIGATE DAILY AS A RESULT OF THE PANDEMIC, PROPELLER AIMS TO BUILD OFF OF CURRENT ACTIVITIES TO DEVELOP A MORE ROBUST PROGRAM TO BETTER SERVE OUR ALUMNI. PUBLIC WORKSHOPS - THROUGH PARTNERSHIPS WITH OTHER PARTNERS AND ENTREPRENEURIAL ECOSYSTEM PROVIDERS AND INCUBATOR MEMBERS, PROPELLER OFFERS FREE, PUBLIC PROGRAMMING AND NETWORKING EVENTS TO THE BROADER LOCAL INCLUSIVE ENTREPRENEURSHIP COMMUNITY.(NEW SERVICE) INCUBATOR SPACE - PROPELLER IS LOCATED IN NEW ORLEANS' SOUTH BROAD STREET CORRIDOR. ONCE A THRIVING MAIN STREET, THIS AREA IS NOW AT THE INTERSECTION OF A NUMBER OF DISADVANTAGED NEIGHBORHOODS AND IS DESIGNATED AS AN ENTERPRISE ZONE/RENEWAL COMMUNITY BY HUD. BEGINNING IN 2017, PROPELLER LAUNCHED ITS SOUTH BROAD INITIATIVE TO SUPPORT THE ECONOMIC DEVELOPMENT OF THE SOUTH BROAD COMMUNITY BY PROVIDING DIRECT ASSISTANCE TO BLACK AND BROWN ENTREPRENEURS OPERATING BRICK-AND-MORTAR BUSINESSES ON AND ALONG BROAD STREET; WORKING IN TANDEM WITH OTHER LEADERS AND STAKEHOLDERS TO IMPLEMENT EQUITABLE APPROACHES TO REVITALIZATION AND STABILIZATION IN THE AREA; AND COLLABORATING WITH NEIGHBORING BUSINESS LEADERS TO IMPROVE THE ECONOMIC VITALITY AND CONTRIBUTE TO THE OVERALL QUALITY OF LIFE FOR OUR NEIGHBORHOOD'S BUSINESS OWNERS, RESIDENTS, AND CLIENTELE. IN JUNE 2019, PROPELLER PURCHASED THE BUILDING IT FORMERLY LEASED. UPON THIS ACQUISITION, PROPELLER EXPANDED ITS COMMUNITY DEVELOPMENT EFFORTS THROUGH THE SOUTH BROAD INITIATIVE BY RENTING OFFICE AND EVENT SPACE, PRIVATE AND SHARED, TO ENTREPRENEURS.THESE ARE THE AREAS OF FOCUS:COMMUNITY ECONOMIC DEVELOPMENT - ENTREPRENEURS WORKING TO IMPACT AND IMPROVE LOCALIZED ECONOMIC DEVELOPMENT, TO DEVELOP AFFORDABLE HOUSING, AND TO CREATE JOBS AND BUILD COMMUNITY ESPECIALLY FOR THE BENEFIT OF PEOPLE OF COLOR. IMPACTS AND OUTCOMES INCLUDE REVENUE AND CAPITAL RAISED BY ENTREPRENEURS OF COLOR AND JOBS CREATED. PROPELLER PRIORITIZES ENTREPRENEURS AND SMALL BUSINESS OWNERS LOCATED IN THE BROAD STREET CORRIDOR.EDUCATION - EDUCATION ENTREPRENEURS CONNECT YOUNG PEOPLE TO SKILL DEVELOPMENT OPPORTUNITIES WHILE PROVIDING EQUITABLE, CULTURALLY-RELEVANT PRACTICES AND POLICIES TO OUR LOCAL EDUCATION SYSTEMS. IMPACTS AND OUTCOMES INCLUDE NUMBER OF STUDENTS SERVED.FOOD - ENTREPRENEURS IMPROVING FOOD ACCESS AND FOOD EQUITY AS WELL AS FOOD SERVICE BUSINESSES WHO ARE PIVOTING TO PRODUCING CONSUMER PACKAGED GOODS AND OTHER LOCAL FOOD PRODUCTS WITH AN EMPHASIS ON SUSTAINABLE, HEALTHY, AFFORDABLE, AND LOCALLY SOURCED INGREDIENTS. PROPELLER PRIORITIZES IDEAS THAT WILL CREATE EQUITABLE ECONOMIC DEVELOPMENT OF THE NEW ORLEANS FOOD SYSTEM. IMPACTS AND OUTCOMES INCLUDE NUMBER OF CHILDREN EATING HEALTHY MEALS, HEALTHY PRODUCE PURCHASED BY CORNER STORES, ETC.HEALTH - ENTREPRENEURS PROVIDING DIRECT HEALTH AND WELLNESS SERVICES, INCLUDING CLINICAL CARE AND SERVICES THAT ADDRESS THE SOCIAL AND PHYSICAL DETERMINANTS OF HEALTH. PROPELLER WILL PRIORITIZE ENTREPRENEURS WORKING TO SERVE A CLIENT BASE DEMOGRAPHICALLY REPRESENTATIVE OF NEW ORLEANS. IMPACTS AND OUTCOMES INCLUDE NUMBER OF INDIVIDUALS RECEIVING HEALTH SERVICES.WATER - ENTREPRENEURS WORKING SPECIFICALLY IN STORMWATER MANAGEMENT, GREEN INFRASTRUCTURE, COASTAL RESTORATION, OR ADAPTATION AND RESILIENCE. PROPELLER WILL PRIORITIZE ENTREPRENEURS WORKING TO DIVERSIFY THE WATER ECONOMY TOWARDS A MORE DEMOGRAPHICALLY REPRESENTATIVE SAMPLE OF THE MAJORITY BLACK AND BROWN CITY THEY SERVE. IMPACTS AND OUTCOMES INCLUDE GALLONS OF WATER RETAINED ON SITE AND ACRES OF COASTAL LAND RETAINED. 1435501 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 20 0 1 23 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X X ANDREA CHEN 5043223282 4035 WASHINGTON AVE NEW ORLEANS LA 70125 ANDREA CHEN CEO 40.00 X 135202 0 9448 ALVERTHA PENNY BOARD MEMBER 0.50 X 0 0 0 DEIRDRE JOHNSON BUREL BOARD MEMBER 0.50 X 0 0 0 CALVIN MACKIE BOARD MEMBER 0.50 X 0 0 0 PAULA ESTRADA DE MARTIN BOARD MEMBER 0.50 X 0 0 0 PEGGY WELSH BOARD MEMBER 0.50 X 0 0 0 LINDA USDIN BOARD MEMBER (THRU 02/04/2019) 0.50 X 0 0 0 ELLA DELIO BOARD MEMBER (THRU 12/03/2019) 0.50 X 0 0 0 JAMAR MCKNEELY BOARD MEMBER 0.50 X 0 0 0 STEPHANIE BARKSDALE CHAIR 1.00 X X 0 0 0 AVA ROGERS VICE CHAIR 0.50 X X 0 0 0 ANDREANECIA MORRIS TREASURER 0.50 X X 0 0 0 JONAS CHARTOCK SECRETARY 0.50 X X 0 0 0 135202 0 9448 1 0 0 0 0 46137 200354 2343894 2590385 INCUBATOR SPACE 531120 131984 102986 28998 CONSULTING 541610 27250 27250 159234 697 697 3660 46137 13804 -10144 -10144 2740172 130236 28998 -9447 X 36500 36500 144649 91129 43395 10125 1096785 801632 177065 118088 12927 4530 7665 732 32917 24665 3837 4415 53528 30147 9903 13478 42262 42262 333348 276299 43559 13490 20647 19437 1112 98 35302 12680 19348 3274 4304 1983 1924 397 115281 69169 34584 11528 9475 9468 7 47114 3047 39559 4508 30386 18231 9116 3039 17513 10508 5254 1751 13435 13435 PROGRAM SUPPLIES 23577 23577 BAD DEBT EXPENSE 6337 2499 3338 500 2076287 1435501 455356 185430 612358 120006 223318 231307 26339 1001400 6510 2406 16703 4932 1388607 19329 16332 1369278 901560 2729329 89669 49647 8333 132382 1077341 17778 27035 115780 1286405 X 376637 378047 409143 1064877 785780 1442924 901560 2729329 X 663885 -23777 17036 X X 0 1 X 1 0 X 1341976 1502193 1908891 1667820 2590385 9011265 1341976 1502193 1908891 1667820 2590385 9011265 4632627 4378638 66 377 606 619 697 2365 4927 58019 37845 9133 17005 126929 7979 15100 44742 5420 73241 9213800 159234 0.47520 0.47920 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 7,979. 2016 AMOUNT: $ 15,100. 2017 AMOUNT: $ 44,742. 2018 AMOUNT: $ 5,420. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 485000 485000 885460 15699 869761 18147 3630 14517 1369278 PAYROLL AND RELATED LIABILITIES 27035 27035 X PART X, LINE 2: PROPELLER IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF LOUISIANA. IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 50L(C)(3) OF THE INTERNAL REVENUE CODE, AND QUALIFIES AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A) OF THE CODE. IT IS ALSO EXEMPT FROM LOUISIANA INCOME TAX UNDER THE AUTHORITY OF R.S. 47:121(5). HUB NOLA IS A WHOLLY-OWNED DISREGARDED ENTITY OF PROPELLER FOR INCOME TAX PURPOSES. AS SUCH, THERE IS NO SEPARATE TAX RETURN REQUIRED. THE ORGANIZATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PROPELLER POP! 49797 46137 3660 4686 9118 49797 46137 3660 4686 9118 13804 -10144 1 FREE ALAS 3612 BANKS STREET NEW ORLEANS LA 70119 842544330 501(C)(3) 8000 PITCH NOLA AUDIENCE FAVORITE AWARD MASTODONTE LLC 2437 BIENVILLE STREET NEW ORLEANS LA 70119 825525079 10500 PITCH NOLA WATER CHALLENGE AWARD 1 1 PART I, LINE 2: AWARDS ARE UNRESTRICTED. STEPHANIE AND DAVID BARKSDALE BOARD CHAIR AND FAMILY MEMBER SECOND MORTGAGE FOR PURCHASE OF FACILITY AT 4035 WASHINGTON AVE X 136000 132382 0 1 1 132382 FORM 990, PART III, LINE 2 IN JUNE 2019, PROPELLER PURCHASED THE BUILDING IT FORMERLY LEASED. UPON THIS ACQUISITION, PROPELLER EXPANDED ITS COMMUNITY DEVELOPMENT EFFORTS THROUGH THE SOUTH BROAD INITIATIVE BY RENTING OFFICE AND EVENT SPACE, PRIVATE AND SHARED, TO ENTREPRENEURS. THIS ACTIVITY FURTHERS PROPELLER'S EXEMPT PURPOSES AS IT FOSTERS AND SUPPORTS EQUITABLE AND INCLUSIVE ENTREPRENEURSHIP AND ECONOMIC VITALITY IN A DISADVANTAGED NEIGHBORHOOD. SEE THE PROGRAM SERVICE DESCRIPTION (INCUBATOR SPACE) FOR FURTHER INFO. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS AND VOTES DURING A REGULAR BOARD MEETING TO APPROVE THE 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS AND THE CEO/EXECUTIVE DIRECTOR DISCLOSE AND SIGN AN UPDATED CONFLICT OF INTEREST FORM. ANY NOTED CONFLICTS WILL CAUSE A PERSON TO RECUSE HIMSELF/HERSELF FROM VOTING ON THE ISSUE CAUSING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE CEO/EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BY REVIEWING COMPARABLE SALARIES OF CEO'S FOR ORGANIZATIONS OF SIMILAR SIZE, MISSION, BUDGET, AND GEOGRAPHY. FORM 990, PART VI, SECTION C, LINE 19 ALL INFORMATION IS AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS AND FORM 990 ARE ALSO AVAILABLE ON THE WEBSITE. FORM 990, PART IX, LINE 11G ADMIN SUPPORT & PROJECT MGMT : PROGRAM SERVICE EXPENSES 2,450. MANAGEMENT AND GENERAL EXPENSES 10,558. FUNDRAISING EXPENSES 490. TOTAL EXPENSES 13,498. CONSULTING : PROGRAM SERVICE EXPENSES 264,672. MANAGEMENT AND GENERAL EXPENSES 10,003. FUNDRAISING EXPENSES 12,925. TOTAL EXPENSES 287,600. PAYROLL FEES : PROGRAM SERVICE EXPENSES 373. MANAGEMENT AND GENERAL EXPENSES 3,747. FUNDRAISING EXPENSES 75. TOTAL EXPENSES 4,195. HUMAN RESOURCES : PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 19,251. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,251. OTHER CONTRACT SERVICES : PROGRAM SERVICE EXPENSES 8,804. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,804. FORM 990, PART XI, LINE 9: CONTRIBUTED CAPITAL - HUB NOLA 17,036. PART XII, LINE 2C THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE OVERSIGHT OR SELECTION PROCESSES FOR THE AUDIT THAT THE ORGANIZATION'S COMMITTEE USES. HUB NOLA 4035 WASHINGTON AVE NEW ORLEANS LA 70125 452858038 RENTALS LA 42447 48356 SOCIAL ENTREPRENEURS OF NEW ORLEANS