Velocity Foundation in New Orleans, Louisiana (LA)
Table of contents:
| Velocity Foundation | |
| Employer Identification Number (EIN) | 721128347 |
| Name of Organization | Velocity Foundation |
| Address | 11229 Winrock Dr, New Orleans, LA 70128-3401 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 11/2014 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 11/2010 |
| Assets | $100,000 to $499,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $116,829 |
| Amount of Income | $7,500 |
| Form 990 Revenue Amount | $6,320 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Operating Foundations |
Non-representatives - add comments:
Amount of income in 2010: $7,500 (it was $142,554 in 2009)
| Velocity Foundation: | $7,500 |
| Other organizations performing similar types of work: | $45,945 |
Assets in 2010: $116,829 (it was $142,565 in 2009)
| Velocity Foundation: | $116,829 |
| Other organizations performing similar types of work: | $120,180 |
Expenses in 2010: $14,994
| This organization: | $14,994 |
| Other organizations performing similar types of work: | $39,714 |
Income to expenses ratio in 2010: 0.5
| This organization: | 0.5 |
| Other organizations performing similar types of work: | 1.1 |
Number of employees in 2010: 2
| This organization: | 2 |
| Other organizations performing similar types of work: | 2 |
Grants share in income in 2010: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 2.2% |
Support schedule
| Statements Regarding Other IRS Filings and Tax Compliance (for 2010) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2010) | |
| Total revenue | $6,320 |
| Contributions, Gifts, Grants and Other Similar Amounts | $0 |
| Program Service Revenue | $0 |
| Other Revenue | |
| Investment income (including dividends, interest, and other similar amounts) | $0 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $6,320 |
| Gross rents (Real / Personal) | $7,500 / $0 |
| Less: rental expenses (Real / Personal) | $1,180 / $0 |
| Rental income or (loss) (Real / Personal) | $6,320 / $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $0 |
| Statement of Functional Expenses (for 2010) | |
| Total functional expenses | $14,994 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $0 |
| Payroll taxes | $0 |
| Professional fundraising services | $0 |
| Other | $14,994 |
| Balance Sheet (for 2010) | |
| Total assets | $116,829 |
| Total liabilities | $56,712 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $56,712 |
| Total net assets or fund balances | $60,117 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Reason for Public Charity Status (for 2010) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010) | |
| 2006 - 2010 Total | |
|---|---|
| Total Support | $8,577 |
| Gifts, grants, contributions, and membership fees received | $2,000 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $6,577 |
| Gross receipts from related activities, etc. | $436,967 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Carolands Foundation | 565 Remillard Dr, Hillsborough, CA 94010-6739 | CA | 2013-07 | $131,910,484 |
| 2 | Kemper And Leila Williams Foundation | 533 Royal St, New Orleans, LA 70130-2113 | LA | 1974-02 | $112,704,526 |
| 3 | Tom T East Sr & Alice K East & Alice H East & Robert C East Wildl | 200 Concord Plaza Suite 410, San Antonio, TX 78216-6943 | TX | 2008-04 | $97,626,236 |
| 4 | Willem De Kooning Foundation | 790 Madison Avenue, New York, NY 10065-6124 | NY | 2001-05 | $73,681,377 |
| 5 | Terra Foundation For American Art | 120 E Erie St, Chicago, IL 60611-3154 | IL | 2003-05 | $72,511,035 |
| 6 | Sapling Foundation | 250 Hudson St Rm 1002, New York, NY 10013-1434 | NY | 2014-08 | $55,063,271 |
| 7 | Mcfadden Foundation Inc | PO BOX 70519, Albany, GA 31708-0519 | GA | 2011-08 | $35,686,614 |
| 8 | The Caldwell Foundation | 2215 W Martin Luther King Jr Blvd, Tyler, TX 75702-2954 | TX | 1954-09 | $35,190,048 |
| 9 | Pussycat Foundation | 300 W 57 St Eve Burtonhearst Corp, New York, NY 10019 | NY | 2010-12 | $30,019,075 |
| 10 | Eddy Knight Family Foundation | PO BOX 52688, Lafayette, LA 70505-2688 | LA | 2001-12 | $737,007 |
| 11 | Ogden Collection | 460 Broadway St, New Orleans, LA 70118-3553 | LA | 2010-08 | $225,000 |
| 12 | Brown Foundation Center | 320 Hammond Hwy Ste 500, Metairie, LA 70005-5100 | LA | 2004-02 | $216,598 |
| 13 | Frank Thomas Gouaux Memorial Tr | PO BOX 436, Mathews, LA 70375-0436 | LA | 2008-12 | $185,129 |
| 14 | True Heart Feliciana Inc | PO BOX 454, Clinton, LA 70722-0454 | LA | 2002-05 | $150,645 |
| 15 | Duplessis Foundation Inc | 2522 S Burnside Ave, Gonzales, LA 70737-4647 | LA | 2005-01 | $59,811 |
| 16 | Friends Ferriday Delta Music Museum And Foundation | PO BOX 1733, Ferriday, LA 71334-1733 | LA | 2002-04 | $53,908 |
| 17 | Velocity Foundation | 11229 Winrock Dr, New Orleans, LA 70128-3401 | LA | 2014-11 | $7,500 |
| 18 | Gulf South Medical Education Foundation Inc | 1375 Corporate Square Dr, Slidell, LA 70458-3147 | LA | 2002-05 | $55 |
| 19 | Alpha Education And Economic Development Foundation Of Acadiana | Po Box 93758, Lafayette, LA 70509 | LA | 2011-01 | $0 |
| 20 | Mud Run In The Sun Inc | 801 Holley Dr, Jonesboro, LA 71251-5362 | LA | 2014-10 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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