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Tennessee Business Development FY2020 filing

Paris, TNUnknown exempt organization EIN 62-1383053Revenue $304K in FY2020

On file with the IRSP O Box 277 · Paris, TN

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Facilitate small Business financing

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

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
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 5
filings with a surplus
Average deficit $12K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 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
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$304K
Spent
$298K
To programs
89%
Net assets
$76K
By yearFY2020–FY2024
Revenue
$304K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$304K
FY2021$212K
FY2022$97K
FY2023$112K
FY2024$176K
Expenses
$298K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$298K
FY2021$159K
FY2022$151K
FY2023$177K
FY2024$174K
Net assets
$76K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$129K
FY2022$76K
FY2023$10K
FY2024$12K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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% · $266K Management & general 11% · $33K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Tim Boyd
Director
$0Pt VII · Sec A
Mike Coley
Director
$0Pt VII · Sec A
Brent Greer
President
$0Pt VII · Sec A
Gary Odom
Director
$0Pt VII · Sec A
Austin Perry
Secretaryt/T
$0Pt VII · Sec A
Chuck Sisson
Director
$0Pt VII · Sec A
Jim Thigpen
Ex. Director
$0Pt VII · Sec A
David Varner
Director
$0Pt VII · Sec A
See Tennessee Business Development 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

Helps small businesses get the funding they need to grow.

Questions for Tennessee Business Development

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Your first name shows with your question. Tennessee Business Development answers here, for everyone.

Provided by the organization

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1 program · $266K · in their own filed words · FY2020
01

Small business financing and management and business plan consultation provided to clients.

$266Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$304K
Ln 12
Gifts and grantsLn 1h$216K
Fees for servicesLn 2g$89K
Money outPt IX
$298K
Ln 25
Programscol B$266K
Managementcol C$33K
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$68K
Total assetsLn 16$81K
LiabilitiesLn 26$5K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$216K
Noncash giftsLn 1g$216K
Fees for servicesLn 2g$89K
Total revenueLn 12$304K
Assets in detailPt X, end of year
CashLn 1$68K
Cash and savings togetherLn 1–2$68K
Other assetsLn 15$525
Total assetsLn 16$81K
LiabilitiesLn 26$5K
Net assetsLn 32$76K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$70K$68K
Total assetsLn 16$79K$81K
LiabilitiesLn 26$9K$5K
Net assetsLn 32$70K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$203K$177K$26K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$3K$885$2K
Accounting feesLn 11c$6K$6K
Office expensesLn 13$13K$13K
Information technologyLn 14$6K$6K
OccupancyLn 16$14K$14K
TravelLn 17$3K$3K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$39K$39K
All other expensesLn 24e$610$610
Total functional expensesLn 25$298K$266K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $176K$174K$2K$12K 990 PDF
FY2023 $112K$177K−$65K$10K 990 PDF
FY2022 $97K$151K−$54K$76K 990 PDF
FY2021 $212K$159K$53K$129K 990 PDF
FY2020 Viewing $304K$298K$6K$76K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $304,411 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $119,669$215,700
I-9 Program service revenuePrior year $96,114$88,711
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $215,783$304,411
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $125,886$210,254
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $79,270$88,095
I-18 Total expensesPrior year $205,156$298,349
I-19 Revenue less expensesPrior year $10,627$6,062
Part VI · Governance 8 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $304,411 across 5 lines filed
VIII-1f All other contributions, gifts and grants$215,700
VIII-1g Noncash contributions (included above)$215,700
VIII-1h Total contributions, gifts and grants$215,700
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $88,711$88,711
VIII-12 Total revenueRelated to mission $88,711$304,411
Part IX · Statement of functional expenses $298,349 across 11 lines filed
IX-7 Other salaries and wagesPrograms $176,523 · Management $26,000$202,523
IX-9 Other employee benefitsManagement $5,022$5,022
IX-10 Payroll taxesPrograms $885 · Management $1,824$2,709
IX-11c Accounting feesPrograms $5,550$5,550
IX-13 Office expensesPrograms $12,917$12,917
IX-14 Information technologyPrograms $5,635$5,635
IX-16 OccupancyPrograms $14,474$14,474
IX-17 TravelPrograms $2,548$2,548
IX-23 InsurancePrograms $7,610$7,610
IX-24 Other expenses (24a–d)Programs $38,751$38,751
IX-24e All other expensesPrograms $610$610
IX-25 Total functional expensesPrograms $265,503 · Management $32,846 · Fundraising $0$298,349
Part X · Balance sheet $81,110 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $70,105$68,250
X-4 Accounts receivableStart of year $3,425$7,342
X-9 Prepaid expenses and deferred chargesStart of year $4,993$4,993
X-15 Other assetsStart of year $525$525
X-16 Total assetsStart of year $79,048$81,110
X-17 Accounts payable and accrued expensesStart of year $9,000$5,000
X-26 Total liabilitiesStart of year $9,000$5,000
X-27 Net assets without donor restrictionsStart of year $70,048$76,110
X-32 Total net assets or fund balancesStart of year $70,048$76,110
X-33 Total liabilities and net assetsStart of year $79,048$81,110
Part XI · Reconciliation of net assets $76,110 net assets at year end
XI-1 Total revenue$304,411
XI-2 Total expenses$298,349
XI-3 Revenue less expenses$6,062
XI-4 Net assets at start of year$70,048
XI-10 Net assets at end of year$76,110

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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