Sync Space is an Entrepreneur Center with accelerator programs that uniquely focuses on the support of local and recruited startups that are considering northeast tennessee as a place to grow or expand their business.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$125K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 5
filings with a surplus
Average deficit $12K a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$125K
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $278K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$46K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 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
$641K
+31% vs prior year
Spent
$565K
To programs
88%
Net assets
$171K
By yearFY2021–FY2025
Revenue
$641K
FY2024▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2021$551K
FY2022$348K
FY2023$489K
FY2024$641K
FY2025$457K
Expenses
$565K
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2021$506K
FY2022$481K
FY2023$496K
FY2024$565K
FY2025$496K
Net assets
$171K
FY2024▲ +80%
Tap a bar for its year
Net assets by fiscal year
FY2021$236K
FY2022$102K
FY2023$95K
FY2024$171K
FY2025$132K

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

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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 Sep 2020.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $497K Management & general 12% · $68K

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; $125K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President, Ed
$124,800Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Heath Guinn’s $125K as President, Ed is at the 84th 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

NameFY2025FY2024FY2023FY2022FY2021
Heath Guinn$124,800$124,800$124,800$106,600$106,600

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.

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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 startups grow and expand their businesses in Northeast Tennessee.

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Provided by the organization

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1 program · $497K · in their own filed words · FY2023
01

See sechedule o

$497Kprogram 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$278K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$641K
Ln 12
Gifts and grantsLn 1h$641K
Money outPt IX
$565K
Ln 25
Programscol B$497K
Managementcol C$68K
Owns and owesPt X
$171K
net assets · Ln 32
Cash and savingsLn 1–2$118K
Total assetsLn 16$217K
LiabilitiesLn 26$46K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$641K
Government grantsLn 1e$69K
Total revenueLn 12$641K
Assets in detailPt X, end of year
CashLn 1$118K
Cash and savings togetherLn 1–2$118K
InvestmentsLn 11–13$500
Total assetsLn 16$217K
LiabilitiesLn 26$46K
Net assetsLn 32$171K
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$88K$118K
InvestmentsLn 11–13$500
Total assetsLn 16$113K$217K
LiabilitiesLn 26$18K$46K
Net assetsLn 32$95K$171K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$125K$125K
Other salaries and wagesLn 7$113K$113K
Payroll taxesLn 10$18K$18K
Legal feesLn 11b$5K$5K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$12K$12K
OccupancyLn 16$2K$2K
TravelLn 17$19K$19K
InterestLn 20$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$244K$199K$46K
All other expensesLn 24e$21K$21K
Total functional expensesLn 25$565K$497K$68K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $457K$496K−$39K$132K 990 PDF
FY2024 Viewing $641K$565K$76K$171K 990 PDF
FY2023 $489K$496K−$7K$95K 990 PDF
FY2022 $348K$481K−$134K$102K 990 PDF
FY2021 $551K$506K$45K$236K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $641,438 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $489,120$641,438
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $489,120$641,438
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $58,870$255,785
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $437,237$309,644
I-18 Total expensesPrior year $496,107$565,429
I-19 Revenue less expensesPrior year −$6,987$76,009
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $641,438 across 4 lines filed
VIII-1b Membership dues$572,220
VIII-1e Government grants$69,218
VIII-1h Total contributions, gifts and grants$641,438
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$641,438
Part IX · Statement of functional expenses $565,429 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $124,800$124,800
IX-7 Other salaries and wagesPrograms $112,877$112,877
IX-10 Payroll taxesPrograms $18,108$18,108
IX-11b Legal feesManagement $4,783$4,783
IX-12 Advertising and promotionManagement $3,918$3,918
IX-13 Office expensesManagement $12,203$12,203
IX-16 OccupancyManagement $1,774$1,774
IX-17 TravelPrograms $18,872$18,872
IX-20 InterestPrograms $1,578$1,578
IX-23 InsurancePrograms $1,101$1,101
IX-24 Other expenses (24a–d)Programs $198,514 · Management $45,600$244,114
IX-24e All other expensesPrograms $21,301$21,301
IX-25 Total functional expensesPrograms $497,151 · Management $68,278 · Fundraising $0$565,429
Part X · Balance sheet $217,079 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $88,186$117,520
X-3 Pledges and grants receivableStart of year $25,000$99,059
X-12 Other securities$500
X-16 Total assetsStart of year $113,186$217,079
X-17 Accounts payable and accrued expenses$5,750
X-25 Other liabilitiesStart of year $75$0
X-26 Total liabilitiesStart of year $18,325$46,209
X-32 Total net assets or fund balancesStart of year $94,861$170,870
X-33 Total liabilities and net assetsStart of year $113,186$217,079
Part XI · Reconciliation of net assets $170,870 net assets at year end
XI-1 Total revenue$641,438
XI-2 Total expenses$565,429
XI-3 Revenue less expenses$76,009
XI-4 Net assets at start of year$94,861
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$170,870

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

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