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Anderson County Economic Development Association

Not tax-deductible

Clinton, TN501(c)(6)EIN 62-0718526Revenue $717K in FY2024

On file with the IRS245 N Main St, 37716-3705 · Clinton, TNTax-exempt since Jan 1991

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Industrial Development prospects

100¢ 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $76K a year · 4% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$21K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$717K
-85% vs prior year
Spent
$630K
To programs
100%
Net assets
$475K
By yearFY2021–FY2024
Revenue
$717K
FY2024▼ -85%
Tap a bar for its year
Revenue by fiscal year
FY2021$190K
FY2023$4.8M
FY2024$717K
Expenses
$630K
FY2024▼ -87%
Tap a bar for its year
Expenses by fiscal year
FY2021$164K
FY2023$4.7M
FY2024$630K
Net assets
$475K
FY2024▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2021$239K
FY2023$389K
FY2024$475K

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1991.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $630K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

31 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Robert Baird
Board Member
$0Pt VII · Sec A
Tim Isbel
Board Member
$0Pt VII · Sec A
Robert Neil
Board Member
$0Pt VII · Sec A
Ashley Sexton
Board Member
$0Pt VII · Sec A
Todd Loggins
Board Member
$0Pt VII · Sec A
Sean Gleason
Board Member
$0Pt VII · Sec A
Michael Swisher
Board Member
$0Pt VII · Sec A
See Anderson County Economic Development Association 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 15aYes

Programs and updates

Promotes economic growth and job creation through industrial development.

Questions for Anderson County Economic Development Association

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Provided by the organization

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1 program · $630K · in their own filed words · FY2023
01

The organization was engaged during the year in marketing the community to provide industrial prospects for the purpose of generating private capital investments broadening local tax base and the generation of new and additional job opportunities for local residents.

$630Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$717K
Ln 12
Gifts and grantsLn 1h$699K
Investment incomeLn 3$18K
Money outPt IX
$630K
Ln 25
Programscol B$630K
Owns and owesPt X
$475K
net assets · Ln 32
Cash and savingsLn 1–2$495K
Total assetsLn 16$496K
LiabilitiesLn 26$21K
PeoplePt VI, VII
31
listed · VII A
PaidVII A0
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$699K
Government grantsLn 1e$459K
Investment incomeLn 3$18K
Total revenueLn 12$717K
Assets in detailPt X, end of year
CashLn 1$53K
SavingsLn 2$442K
Cash and savings togetherLn 1–2$495K
Land, buildings, equipmentLn 10c$411
Total assetsLn 16$496K
LiabilitiesLn 26$21K
Net assetsLn 32$475K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$372K$495K
Land, buildings, equipmentLn 10c$878$411
Total assetsLn 16$395K$496K
LiabilitiesLn 26$6K$21K
Net assetsLn 32$389K$475K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$117K$117K
Pension plan contributionsLn 8$12K$12K
Payroll taxesLn 10$9K$9K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$13K$13K
Advertising and promotionLn 12$817$817
Office expensesLn 13$3K$3K
Information technologyLn 14$2K$2K
OccupancyLn 16$4K$4K
Conferences, conventions and meetingsLn 19$17K$17K
Depreciation, depletion and amortizationLn 22$467$467
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$442K$442K
Total functional expensesLn 25$630K$630K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $717K$630K$86K$475K 990 PDF
FY2023 $4.8M$4.7M$116K$389K 990 PDF
FY2022 Not on file
FY2021 $190K$164K$27K$239K 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 $716,691 revenue, 12 lines filed
I-8 Contributions and grants$698,956
I-9 Program service revenue$0
I-10 Investment income$17,735
I-11 Other revenue$0
I-12 Total revenue$716,691
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$138,076
I-16a Professional fundraising fees$0
I-17 Other expenses$492,210
I-18 Total expenses$630,286
I-19 Revenue less expenses$86,405
Part VI · Governance 31 of 31 board members independent, 1 to look at
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $716,691 across 5 lines filed
VIII-1e Government grants$459,382
VIII-1f All other contributions, gifts and grants$239,574
VIII-1h Total contributions, gifts and grants$698,956
VIII-3 Investment incomeRelated to mission $17,735$17,735
VIII-12 Total revenueRelated to mission $17,735 · Unrelated business $0 · Excluded from tax $0$716,691
Part IX · Statement of functional expenses $630,286 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $116,650$116,650
IX-8 Pension plan contributionsPrograms $12,460$12,460
IX-10 Payroll taxesPrograms $8,966$8,966
IX-11c Accounting feesPrograms $6,450$6,450
IX-11g Other fees for servicesPrograms $13,200$13,200
IX-12 Advertising and promotionPrograms $817$817
IX-13 Office expensesPrograms $2,745$2,745
IX-14 Information technologyPrograms $2,437$2,437
IX-16 OccupancyPrograms $4,315$4,315
IX-19 Conferences, conventions and meetingsPrograms $17,380$17,380
IX-22 Depreciation, depletion and amortizationPrograms $467$467
IX-23 InsurancePrograms $2,203$2,203
IX-24 Other expenses (24a–d)Programs $442,196$442,196
IX-25 Total functional expensesPrograms $630,286 · Management $0 · Fundraising $0$630,286
Part X · Balance sheet $495,855 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $237,255$53,299
X-2 Savings and temporary cash investmentsStart of year $134,738$442,145
X-10c Land, buildings and equipment, netStart of year $878$411
X-16 Total assetsStart of year $394,516$495,855
X-17 Accounts payable and accrued expensesStart of year $5,663$20,597
X-26 Total liabilitiesStart of year $5,663$20,597
X-27 Net assets without donor restrictionsStart of year $324,987$314,989
X-28 Net assets with donor restrictionsStart of year $63,866$160,269
X-32 Total net assets or fund balancesStart of year $388,853$475,258
X-33 Total liabilities and net assetsStart of year $394,516$495,855
Part XI · Reconciliation of net assets $475,258 net assets at year end
XI-1 Total revenue$716,691
XI-2 Total expenses$630,286
XI-3 Revenue less expenses$86,405
XI-4 Net assets at start of year$388,853
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$475,258

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

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