Forward Sumner Economic Partnership FY2024 filing

Not tax-deductible

Gallatin, TN501(c)(6)Community DevelopmentEIN 04-3686852Revenue $800K in FY2024

On file with the IRS1598 Greenlea Blvd, 37066-8657 · Gallatin, TNTax-exempt since Aug 2002

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The organization's purpose is to unite business, community and government to promote and foster the Economic development and prosperity of Sumner county for the benefit of all citizens.

89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$800K
+136% vs prior year
Spent
$621K
To programs
89%
Net assets
$360K
By yearFY2020–FY2025
Revenue
$800K
FY2024▲ +136%
Tap a bar for its year
Revenue by fiscal year
FY2020$321K
FY2021$316K
FY2022$397K
FY2023$339K
FY2024$800K
FY2025$361K
Expenses
$621K
FY2024▲ +64%
Tap a bar for its year
Expenses by fiscal year
FY2020$303K
FY2021$339K
FY2022$375K
FY2023$378K
FY2024$621K
FY2025$528K
Net assets
$360K
FY2024▲ +99%
Tap a bar for its year
Net assets by fiscal year
FY2020$193K
FY2021$170K
FY2022$221K
FY2023$181K
FY2024$360K
FY2025$193K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $553K Management & general 8% · $47K Fundraising 3% · $22K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990.

Part VII, Section A · reportable compensation
Board Direct
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A
Incoming Cha
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A
Board Direct
$0Pt VII · Sec A

Jimmy Johnston’s $130K as President/Ce is at the 86th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
Jimmy Johnston$130,000$157,515$134,422

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Forward Sumner Economic Partnership executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Unites business, community, and government to boost Sumner County's economic prosperity.

Questions for Forward Sumner Economic Partnership

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Provided by the organization

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1 program · $553K · in their own filed words · FY2024
01

The organization's purpose is to unite business, community and government to promote and foster the economic development and prosperity of sumner county for the benefit of all citizens.

$553Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$2K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$800K
Ln 12
Gifts and grantsLn 1h$799K
Investment incomeLn 3$2K
Money outPt IX
$621K
Ln 25
Programscol B$553K
Managementcol C$47K
Fundraisingcol D$22K
Owns and owesPt X
$360K
net assets · Ln 32
Cash and savingsLn 1–2$317K
Total assetsLn 16$367K
LiabilitiesLn 26$7K
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$799K
Government grantsLn 1e$415K
Noncash giftsLn 1g$96K
Investment incomeLn 3$2K
Total revenueLn 12$800K
Assets in detailPt X, end of year
CashLn 1$317K
Cash and savings togetherLn 1–2$317K
Total assetsLn 16$367K
LiabilitiesLn 26$7K
Net assetsLn 32$360K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$242K$317K
Total assetsLn 16$242K$367K
LiabilitiesLn 26$61K$7K
Net assetsLn 32$181K$360K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$101K$86K$10K$5K
Payroll taxesLn 10$10K$9K$1K$510
Accounting feesLn 11c$268K$228K$27K$13K
Office expensesLn 13$916$778$92$46
OccupancyLn 16$20K$17K$2K$1K
TravelLn 17$2K$2K$231$116
Conferences, conventions and meetingsLn 19$7K$6K$745$373
InterestLn 20$453$453
InsuranceLn 23$2K$2K$230$115
Other expenses (24a–d)Ln 24$208K$201K$5K$940
All other expensesLn 24e$966$821$97$48
Total functional expensesLn 25$621K$553K$47K$22K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $361K$528K−$167K$193K 990 PDF
FY2024 Viewing $800K$621K$179K$360K 990 PDF
FY2023 $339K$378K−$39K$181K 990 PDF
FY2022 $397K$375K$22K$221K 990 PDF
FY2021 $316K$339K−$23K$170K 990 PDF
FY2020 $321K$303K$19K$193K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $800,356 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $337,980$798,680
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,079$1,676
I-11 Other revenue$0
I-12 Total revenuePrior year $339,059$800,356
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $164,216$111,025
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $214,008$510,432
I-18 Total expensesPrior year $378,224$621,457
I-19 Revenue less expensesPrior year −$39,165$178,899
Part VI · Governance 24 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $800,356 across 6 lines filed
VIII-1e Government grants$415,330
VIII-1f All other contributions, gifts and grants$383,350
VIII-1g Noncash contributions (included above)$96,050
VIII-1h Total contributions, gifts and grants$798,680
VIII-3 Investment incomeRelated to mission $1,676$1,676
VIII-12 Total revenueRelated to mission $1,676$800,356
Part IX · Statement of functional expenses $621,457 across 11 lines filed
IX-7 Other salaries and wagesPrograms $85,705 · Management $10,083 · Fundraising $5,041$100,829
IX-10 Payroll taxesPrograms $8,666 · Management $1,020 · Fundraising $510$10,196
IX-11c Accounting feesPrograms $228,136 · Management $26,840 · Fundraising $13,420$268,396
IX-13 Office expensesPrograms $778 · Management $92 · Fundraising $46$916
IX-16 OccupancyPrograms $17,000 · Management $2,000 · Fundraising $1,000$20,000
IX-17 TravelPrograms $1,965 · Management $231 · Fundraising $116$2,312
IX-19 Conferences, conventions and meetingsPrograms $6,332 · Management $745 · Fundraising $373$7,450
IX-20 InterestManagement $453$453
IX-23 InsurancePrograms $1,959 · Management $230 · Fundraising $115$2,304
IX-24 Other expenses (24a–d)Programs $201,321 · Management $5,374 · Fundraising $940$207,635
IX-24e All other expensesPrograms $821 · Management $97 · Fundraising $48$966
IX-25 Total functional expensesPrograms $552,683 · Management $47,165 · Fundraising $21,609$621,457
Part X · Balance sheet $367,104 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $242,010$317,365
X-3 Pledges and grants receivable$31,572
X-9 Prepaid expenses and deferred charges$18,167
X-16 Total assetsStart of year $242,010$367,104
X-17 Accounts payable and accrued expensesStart of year $591$6,786
X-26 Total liabilitiesStart of year $60,591$6,786
X-27 Net assets without donor restrictionsStart of year $179,419$190,318
X-28 Net assets with donor restrictionsStart of year $2,000$170,000
X-32 Total net assets or fund balancesStart of year $181,419$360,318
X-33 Total liabilities and net assetsStart of year $242,010$367,104
Part XI · Reconciliation of net assets $360,318 net assets at year end
XI-1 Total revenue$800,356
XI-2 Total expenses$621,457
XI-3 Revenue less expenses$178,899
XI-4 Net assets at start of year$181,419
XI-10 Net assets at end of year$360,318

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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