First Tennessee Development District Foundation

Analysis

First Tennessee Development District Foundation is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, First Tennessee Development District Foundation reported income of $3.8m and spending of $3.9m, spending 102% of its income. Across the 4 years on record, from June 2021 to June 2024, income grew from $543k to $3.8m (+598%), an average of +91% a year. The sharpest change came in the year to June 2024, when income rose by 943%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, First Tennessee Development District Foundation sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within TN. Charities of a similar size with the same main cause include Pads to Hope Inc ($3.8m), State Housing & Community Services Corporation ($3.8m) and West Chester Food Cupboard ($3.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $846k against liabilities of $787k, net assets of $60k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.