Cherokee Farm Development Corporation

Analysis

Cherokee Farm Development Corporation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cherokee Farm Development Corporation reported income of $1.2m and spending of $912k, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $258k to $1.2m (+346%), an average of +45% a year. The sharpest change came in the year to June 2020, when income rose by 128%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cherokee Farm Development Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within TN. Charities of a similar size with the same main cause include Friends of Teach for India Inc ($1.2m), Land Trust for Louisiana ($1.2m) and Usa-Canada Lions Leadership Forum ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $320k (35% of expenses). Other salaries and wages came to $116k. At year end it held assets of $1.9m against liabilities of $57k, net assets of $1.8m. It reported 5 employees.