East Tennessee Economic Development Agency Inc

Analysis

East Tennessee Economic Development Agency Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in September 1986, 40 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 September 2023, East Tennessee Economic Development Agency Inc reported income of $1.1m and spending of $712k, leaving 38% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $829k to $1.1m (+38%), an average of +8.3% a year. The sharpest change came in the year to September 2023, when income rose by 122%. 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, East Tennessee Economic Development Agency Inc 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 Cape Libraries Automated Materials ($1.1m), Hillel the Foundation for Jewish Campus Life ($1.1m) and Levi Heywood Memorial Library Association ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 71% of the total. Compensation of current officers, directors and key employees was $283k (40% of expenses). Other salaries and wages came to $61k. At year end it held assets of $4.6m against liabilities of $181k, net assets of $4.4m. It reported 3 employees.