Tennessee Technology Development Corporation

Analysis

Tennessee Technology Development Corporation is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Tennessee Technology Development Corporation reported income of $13.4m and spending of $13.4m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $8.3m to $13.4m (+61%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 135%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Tennessee Technology Development Corporation 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 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Goodwill Mennonite Home Inc ($13.4m), Good Vocations Inc ($13.4m) and Impact Services Corp ($13.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $317k (2.4% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $26.9m against liabilities of $24.1m, net assets of $2.9m. It reported 18 employees.