Nonprofit · EIN 72-0794863
ECONOMIC DEVELOPMENT UNIT INC
Tax-exempt · NEW ORLEANS, LA 70128
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $223,743 | $185,327 | $38,416 | $255,263 | $371,090 | -$115,827 |
| December 31, 2024 | 990 | $174,532 | $180,729 | -$6,197 | $228,266 | $382,509 | -$154,243 |
| December 31, 2023 | 990 | $232,038 | $173,996 | $58,042 | $254,723 | $402,769 | -$148,046 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $8
- Net rental income
- $211,735
- Other revenue
- $223,735
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $145,840
- Salaries, compensation and benefits (total)
- $177,386
- Professional fundraising fees
- $0
- Accounting fees
- $1,457
- Travel
- $194
- Management and general (functional)
- $185,327
Balance sheet and other
- Total assets, start of year
- $228,266
- Total assets, end of year
- $255,263
- Total liabilities, end of year
- $371,090
- Net assets, end of year
- -$115,827
- Land, buildings and equipment
- $200,000
- Net assets without donor restrictions
- -$115,827
- Gross receipts
- $376,616
- Employees
- 1
- Year formed
- 1976
- State of legal domicile
- LA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ms Cheryl Phoenix | Secretary Trustee or director, Officer | 40 | $145,840 |
| Ms Pearlie Elloie | Treasurer Trustee or director, Officer | 0.25 | $0 |
| Ms Ivory L Williams-Shelby | Board Member Trustee or director | 0.25 | $0 |
| Mr James H Raby | President Trustee or director, Officer | 2 | $0 |
| Mrs Lisa Y Joseph | Board Member Trustee or director | 0.25 | $0 |
| Mr Charles L Rice | Vice President Trustee or director, Officer | 0.25 | $0 |
990 for the year ended December 31, 2024: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Ms Cheryl Phoenix | Secretary Trustee or director, Officer | 40 | $141,612 | $18,610 |
| Ms Pearlie Elloie | Treasurer Trustee or director, Officer | 0.25 | $50 | $0 |
| Ms Ivory L Williams-Shelby | Board Member Trustee or director | 0.25 | $50 | $0 |
| Mr James H Raby | President Trustee or director, Officer | 2 | $50 | $0 |
| Mrs Lisa Y Joseph | Board Member Trustee or director | 0.25 | $50 | $0 |
| Mr Charles L Rice | Vice President Trustee or director, Officer | 0.25 | $50 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Ms Cheryl Phoenix | Secretary Trustee or director, Officer | 40 | $142,260 | $17,626 |
| Ms Pearlie Elloie | Treasurer Trustee or director, Officer | 0.25 | $50 | $0 |
| Ms Ivory L Williams-Shelby | Board Member Trustee or director | 0.25 | $50 | $0 |
| Mr James H Raby | President Trustee or director, Officer | 2 | $50 | $0 |
| Mrs Lisa Y Joseph | Board Member Trustee or director | 0.25 | $50 | $0 |
| Mr Charles L Rice | Vice President Trustee or director, Officer | 0.25 | $50 | $0 |
Address and contacts
- Address (IRS master file)
- 11448 S EASTERLYN CIR, NEW ORLEANS, LA 70128-5204
- Principal officer (990 for 2025)
- Ms Cheryl Phoenix, 11448 S Easterlyn Circle, New Orleans, LA 70128
- Signed the 990
- Ms Cheryl Phoenix, Secretary
- Phone
- (504) 722-5354
- Return prepared by
- Justin J Scanlan CPA LLC
Mission
Provides rental facility for a non-profit organization and assists in providing technical assistance in economic development goals.
Program accomplishments
- Provide rental facility for a non-profit organization and assist in providing technical assistance in economic development goals.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 72-0794863
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible
- No
- Exempt since
- 1984
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $255,263
- Income (IRS master file)
- $376,616
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $223,743 | $185,327 | $255,263 | IRS |
| 990 | December 2024 | $174,532 | $180,729 | $228,266 | IRS |
| 990 | December 2023 | $232,038 | $173,996 | $254,723 | XML |
| 990 | December 2022 | $215,734 | $168,420 | $235,107 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 72-0794863).
Questions about ECONOMIC DEVELOPMENT UNIT INC
- What is the EIN of ECONOMIC DEVELOPMENT UNIT INC?
- The employer identification number (EIN) of ECONOMIC DEVELOPMENT UNIT INC is 72-0794863.
- Is ECONOMIC DEVELOPMENT UNIT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to ECONOMIC DEVELOPMENT UNIT INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ECONOMIC DEVELOPMENT UNIT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ECONOMIC DEVELOPMENT UNIT INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECONOMIC DEVELOPMENT UNIT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of ECONOMIC DEVELOPMENT UNIT INC?
- The 990 for the year ended December 31, 2025 names Ms Cheryl Phoenix.
- Who are the officers and directors of ECONOMIC DEVELOPMENT UNIT INC?
- The 990 for the year ended December 31, 2025 lists 6 people; 1 received compensation from the organization, the highest $145,840 (Ms Cheryl Phoenix, Secretary).
- How much revenue does ECONOMIC DEVELOPMENT UNIT INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $223,743, expenses of $185,327 and total assets of $255,263 at year end.
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All nonprofits in NEW ORLEANS · Louisiana · Community improvement and capacity building