East Tennessee Foundation

Analysis

East Tennessee Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in December 1963, 63 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, East Tennessee Foundation reported income of $19.8m and spending of $25.6m, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $26.6m to $19.8m (-26%), an average of -7.2% a year. The sharpest change came in the year to December 2020, when income dropped by 30%. Over the whole period it spent 108% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, East Tennessee Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include United Way of the Bay Area ($19.7m), Highland Kansas City Foundation Inc ($19.8m) and Baltimore Civic Fund Inc ($19.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% of the total. Compensation of current officers, directors and key employees was $441k (1.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $255.7m against liabilities of $3.7m, net assets of $252.0m. It reported 24 employees.