This organization gets a lot of favorable press because it is all PR and no substance. In 2007, the President, COO and CFO were paid $140,000, $135,000, and $109,000 (via a consulting contract) respectively. This top-heavy organization therefore paid $384,000 (before benefits) for its top 3 staff members when the organization's total revenues for the year were only $542,000. Can anyone beat that for overhead ratio? The result: a whopping $393,000 deficit -- and a lot of PR promises with little or no substance.
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- EIN 45-0470675
- (504) 291-2563
- 638 Camp St New Orleans LA 70130-3424 USA
- ideavillage.org
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Nonprofit Overview
Causes: Business & Industry
Mission: The idea village is a 501(c)(3) non-profit organization with a mission to identify, support and retain entrepreneurial talent in new orleans.
Programs: Core programs: we deliver against our mission annually through a platform of integrated programs and events that allows the collaborative network of partners (including government, universities, corporations, non-profits, professionals, and investors) to strategically and efficiently support new orleans startups. During the 2017 fiscal year, the idea village allocated $1. 8m in resources to 2,207 entrepreneurs. A summary of our two largest flagship programs during the 2017 fiscal year, ideavillagex and new orleans entrepreneur week (noew), follows. Ideavillagex is our suite of entrepreneur programs offered throughout the year. We partner with experienced entrepreneurs-in-residence (eirs) who serve as coaches for these programs. Additional professional resources from the ecosystem, including legal, accounting, and pitch prep, also guide the entrepreneurs, all free of charge to the participants. Of our 243 accelerator alumni, 78% are still in business and 90% are still in new orleans. They have raised over $185m in private capital, created over 3,000 jobs and generated more than $208m in annual revenue. -ideax is the 12-week accelerator program that operate with the goal of supporting startup founders with next level business ideas as they seek to optimize and scale their businesses. The program focuses on enabling world-class entrepreneurs to build scalable business models that have long-term growth plans and viable funding strategies. These cohorts convened from september - december 2016. -capitalx is the 10-week accelerator program in spring 2017 focused on preparing founders for raising capital through mentorship and coaching. This is an invitation only program for entrepreneurs with highly scalable ventures who are ready for funding. Invitees for the accelerator come from the ideax cohort and partner nominations. -ideasessions are one-on-one strategy sessions with mentors and experts who give strategic guidance around specific challenges and/or opportunities. The 9th annual new orleans entrepreneur week (noew), presented by iberiabank, is our annual event celebrating entrepreneurship, innovation, and technology in new orleans. Noew engages a dynamic and significant network on entrepreneurs, investors, corporations, nonprofits, students, and professionals to support growing companies and elevate entrepreneurial successes through discussion, debate, education, competition, and celebration. Noew is a free and inclusive platform that brings together the entire community in support of entrepreneurship and innovation for everyone. Noew 2017 engaged 14,266 entrepreneurs, investors, professionals, students, and community members. In total, from march 19-24, 2017, 126 events we held in partnership with 51 local and national organizations and showcased 199 entrepreneurs. $482,975 in cash and resources was allocated to entrepreneurs by the idea village and partner organizations.