philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Tennessee Business Development FY2022 filing

Paris, TNUnknown exempt organization EIN 62-1383053Revenue $97K in FY2022Latest return filed Feb 7, 2025

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

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

Facilitate small Business financing

78¢ of each $1 spent went to programs.
$30K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$30K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$97K
-54% vs prior year
Spent
$151K
To programs
78%
Net assets
$76K
By yearFY2020–FY2024
Revenue
$97K
FY2022▼ -54%
Tap a bar for its year
Revenue by fiscal year
FY2020$304K
FY2021$212K
FY2022$97K
FY2023$112K
FY2024$176K
Expenses
$151K
FY2022▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$298K
FY2021$159K
FY2022$151K
FY2023$177K
FY2024$174K
Net assets
$76K
FY2022▼ -42%
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$129K
FY2022$76K
FY2023$10K
FY2024$12K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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

78 cents of each dollar spent went to programs.

Program services 78% · $118K Management & general 22% · $33K

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

Something off? Claim to add context

Who runs it and what they're paid

7 people listed on the 990; $30K paid to officers and key staff.

Part VII, Section A · reportable compensation
Jim Thigpen
Ex. Director
$30,500Pt VII · Sec A
Tim Boyd
Vice Preside
$0Pt VII · Sec A
Mike Coley
Director
$0Pt VII · Sec A
Brent Greer
President
$0Pt VII · Sec A
Chuck Sisson
Director
$0Pt VII · Sec A
Carla Todd
Director
$0Pt VII · Sec A
Albert Wade
Secretaryt/T
$0Pt VII · Sec A
See Tennessee Business Development executive salaries →

On this list? Claim this org

Something off? Claim to add context

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

Helps small businesses get the funding they need to grow.

Questions for Tennessee Business Development

Tap to ask. Tennessee Business Development sees how many people are interested.

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

Provided by the organization

Know this org? Add your story

1 program · $118K · in their own filed words · FY2022
01

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

$118Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$97K
Ln 12
Fees for servicesLn 2g$89K
Investment incomeLn 3$9K
Money outPt IX
$151K
Ln 25
Programscol B$118K
Managementcol C$33K
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$69K
Total assetsLn 16$76K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$89K
Investment incomeLn 3$9K
Total revenueLn 12$97K
Assets in detailPt X, end of year
CashLn 1$69K
Cash and savings togetherLn 1–2$69K
Other assetsLn 15$525
Total assetsLn 16$76K
LiabilitiesLn 26$0
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 FY22End FY22
Cash and savingsLn 1–2$126K$69K
Total assetsLn 16$132K$76K
LiabilitiesLn 26$3K$0
Net assetsLn 32$129K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$30K$4K$26K
Other salaries and wagesLn 7$60K$60K
Other employee benefitsLn 9$9K$6K$3K
Payroll taxesLn 10$9K$6K$3K
Accounting feesLn 11c$6K$6K
Office expensesLn 13$663$663
Information technologyLn 14$8K$8K
OccupancyLn 16$15K$15K
TravelLn 17$37$37
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$151K$118K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Feb 7, 2025 $176K$174K$2K$12K 990 PDF
FY2023Filed with the IRS May 8, 2024 $112K$177K−$65K$10K 990 PDF
FY2022 ViewingFiled with the IRS Jun 19, 2023 $97K$151K−$54K$76K 990 PDF
FY2021Filed with the IRS Jun 28, 2022 $212K$159K$53K$129K 990 PDF
FY2020Filed with the IRS Jun 23, 2021 $304K$298K$6K$76K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $97,456 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $208,707$88,501
I-10 Investment incomePrior year $3,218$8,955
I-11 Other revenue$0
I-12 Total revenuePrior year $211,925$97,456
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $107,691$108,988
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $51,060$42,235
I-18 Total expensesPrior year $158,751$151,223
I-19 Revenue less expensesPrior year $53,174−$53,767
Part VI · Governance 6 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $97,456 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $88,501$88,501
VIII-3 Investment incomeRelated to mission $8,955$8,955
VIII-12 Total revenueRelated to mission $97,456$97,456
Part IX · Statement of functional expenses $151,223 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $4,500 · Management $26,000$30,500
IX-7 Other salaries and wagesPrograms $60,167$60,167
IX-9 Other employee benefitsPrograms $5,795 · Management $3,457$9,252
IX-10 Payroll taxesPrograms $5,680 · Management $3,389$9,069
IX-11c Accounting feesPrograms $5,566$5,566
IX-13 Office expensesPrograms $663$663
IX-14 Information technologyPrograms $7,712$7,712
IX-16 OccupancyPrograms $14,618$14,618
IX-17 TravelPrograms $37$37
IX-23 InsurancePrograms $8,612$8,612
IX-24 Other expenses (24a–d)Programs $5,027$5,027
IX-25 Total functional expensesPrograms $118,377 · Management $32,846 · Fundraising $0$151,223
Part X · Balance sheet $75,517 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $125,676$69,439
X-4 Accounts receivableStart of year $100$63
X-9 Prepaid expenses and deferred chargesStart of year $5,731$5,490
X-15 Other assetsStart of year $525$525
X-16 Total assetsStart of year $132,032$75,517
X-26 Total liabilitiesStart of year $2,748$0
X-27 Net assets without donor restrictionsStart of year $129,284$75,517
X-32 Total net assets or fund balancesStart of year $129,284$75,517
X-33 Total liabilities and net assetsStart of year $132,032$75,517
Part XI · Reconciliation of net assets $75,517 net assets at year end
XI-1 Total revenue$97,456
XI-2 Total expenses$151,223
XI-3 Revenue less expenses−$53,767
XI-4 Net assets at start of year$129,284
XI-10 Net assets at end of year$75,517

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.