Enterprise Center Inc
- Assets
- $2.6m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 39
- Location
- Chattanooga, TN
- Founding
- 02/2005
- Data as of
- 06/2024
- EIN
- 20-0062024
Organization Overview
Enterprise Center Inc is located in Chattanooga, TN. The organization was established in 2005. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Enterprise Center Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Enterprise Center Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $4.6m during the year ending 06/2024. While expenses have increased by 15.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTERPRISE CENTER UNITES PEOPLE, ORGANIZATIONS, AND TECHNOLOGY, TO BUILD AN ADVANCED AND INCLUSIVE FUTURE FOR OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIGITAL EQUITY - TECH GOES HOME CHATTANOOGA IS THE ENTERPRISE CENTER'S SIGNATURE DIGITAL INCLUSION PROGRAM. AIMED AT MAKING TECHNOLOGY ACCESSIBLE TO ALL, TECH GOES HOME OFFERS DIGITAL LITERACY TRAINING, A SUBSIDIZED LAPTOP OR TABLET, AND ASSISTANCE SIGNING UP FOR LOWCOST HOME INTERNET. SINCE 2015, MORE THAN 5,500 PEOPLE OF ALL AGES HAVE GRADUATED FROM THE PROGRAM AND OVER 4,600 DEVICES HAVE BEEN DISTRIBUTED. TECH GOES HOME WORKS WITH PARTNER ORGANIZATIONS, INCLUDING SCHOOLS, CHURCHES, COMMUNITY CENTERS, AND OTHER NONPROFIT ORGANIZATIONS, TO TRAIN INSTRUCTORS WHO ARE TRUSTED MEMBERS OF THE COMMUNITY BEING SERVED. BY COLLABORATING WITH COMMUNITY PARTNERS, TECH GOES HOME IS ABLE TO EFFECTIVELY SERVE SUCH POPULATIONS AS: THE ELDERLY, STUDENTS AND THEIR PARENTS, PEOPLE WITH DISABILITIES, SPANISH SPEAKERS, PEOPLE TRANSITIONING FROM INCARCERATION, ARTISTS, AND OTHERS.
CHATTAMATTERS IS A HYPER-LOCAL STORYTELLING SERIES FOR THE PEOPLE OF CHATTANOOGA. CHATTAMATTERS WAS CREATED BY THE ENTERPRISE CENTER, IN PARTNERSHIP WITH THE CITY OF CHATTANOOGA. THE MULTIMEDIA SERIES AIMS TO INCREASE CIVIC ENGAGEMENT AND BUILD COMMUNITY BY: EXPLAINING USING SIMPLE AND ENGAGING TOOLS TO SHOW HOW LOCAL GOVERNMENT WORKS, AND HOW CERTAIN ISSUES IMPACT OUR COMMUNITY. EXPLORING - LOOKING AT SOME OF OUR COMMUNITY'S BIGGEST CHALLENGES AND EXPLORING POSSIBLE SOLUTIONS. HIGHLIGHTING - TAKING TIME TO APPRECIATE THE PEOPLE AND PLACES WHO MAKE CHATTANOOGA UNIQUE.
THE CHATTANOOGA INNOVATION DISTRICT - ESTABLISHED IN 2014, THE INNOVATION DISTRICT OF CHATTANOOGA IS A QUARTER-MILE RADIUS FROM DOWNTOWN'S MILLER PARK. IN THE DISTRICT, ESTABLISHED BUSINESSES AND STARTUPS CLUSTER WITH EDUCATIONAL AND CULTURAL INSTITUTIONS TO CREATE A VIBRANT AND INNOVATIVE ATMOSPHERE. THE DISTRICT ALSO CONTAINS SEVERAL PUBLIC SPACES AND A HOST OF COFFEE SHOPS AND RESTAURANTS, LINKED BY ATTRACTIVE STREETS, A BIKE SHARE PROGRAM, AND FREE DOWNTOWN ELECTRIC SHUTTLES.CHATTANOOGA'S INNOVATION DISTRICT IS A PLACE WHERE PEOPLE FROM ALL WALKS OF LIFE CAN COME TOGETHER TO CREATE AND COLLABORATE. WHETHER IT'S WITHIN THE REALM OF TECHNOLOGY, ART, RECREATION,COMMERCE, OR CIVIC ENGAGEMENT, THE INNOVATION DISTRICT IS A PLACE THAT WELCOMES ALL AND ENCOURAGES NEW WAYS OF THINKING. THE EDNEY INNOVATION CENTER IS THE FRONT DOOR TO CHATTANOOGA'S INNOVATION DISTRICT, PROVIDING FREE PUBLIC MEETING SPACES AND ABUNDANT PROGRAMMING. THE INNOVATION DISTRICT FRAMEWORK PLAN, PUBLISHED IN 2018, OUTLINES THE VALUES OF THE DISTRICT AND ITS VISION FOR THE FUTURE. THE INNOVATION DISTRICT OF CHATTANOOGA IS THE FIRST INNOVATION DISTRICT IN A MID-SIZEDCITY, AND IT HAS BEEN FEATURED IN WORKS BY BROOKINGS INSTITUTION, NATIONAL LEAGUE OF CITIES, THE KAUFMAN FOUNDATION, AND THE NEW YORK TIMES. DRAWING RESIDENTS FROM NEIGHBORHOODS THAT SPANTHE CITY, THE INNOVATION DISTRICT OF CHATTANOOGA STRIVES TO BE INCLUSIVE AND INVITES EVERYONE TO SHARE OWNERSHIP OF THE PLACE AND ITS PROGRAMMING. THE ENTERPRISE CENTER HOSTS QUARTERLY INNOVATION ECOSYSTEM TOUR DAYS TO GIVE REGIONAL LEADERS AND BUSINESS OWNERS A DEEPER UNDERSTANDING OF THE RESOURCES AVAILABLE LOCALLY. ADDITIONALLY, WE REGULARLY HOST VISITORS FROM AROUND THE COUNTRY TO TOUR CHATTANOOGA'S INNOVATION ECOSYSTEM. AS THE FRONT DOOR OF THE INNOVATION DISTRICT, THE EDNEY INNOVATION CENTER IS A WELCOMING AND SHARED SPACE.FLOOR FIVE IS A MULTI-PURPOSE, FREE, PUBLIC EVENT SPACE WHERE MORE THAN 150 GATHERINGS TAKE PLACE EACH MONTH, HOSTED BY A WIDE RANGE OF ORGANIZATIONS AND COMMUNITY MEMBERS. THE SPACE IS AVAILABLE FOR ANYONE IN CHATTANOOGA WHO WISHES TO BUILD A PROJECT OR GROW A COMMUNITY. THE EDNEY IS HOME TO THE ENTERPRISE CENTER, AS WELL AS CO.LAB, SOCIETY OF WORK, THE CITY OF CHATTANOOGA'S IT DEPARTMENT, THE UNIVERSITY OF TENNESSEE AT CHATTANOOGA, AND OFFICES FOR VARIOUS COMPANIES AND NONPROFITS. THE ENTERPRISE CENTER'S VISION IS THAT THE SPACEWILL BRING TOGETHER COMMUNITY MEMBERS TO SHARE IDEAS AND CREATE PROJECTS, BUSINESSES, ART, AND INNOVATIVE SOLUTIONS OF ALL KINDS.
APPLICATIONS AND RESEARCH PROGRAM IS USING CHATTANOOGA'S ADVANCED INTERNET CAPABILITIES FOR THINGS SUCH AS NEW APPLICATION AND SOFTWARE DEVELOPMENT. PROGRAM PARTNERSHIPS INCLUDE COLLEGES ACROSS THE COUNTRY DUE TO THE HIGH INTERNET GIGABIT CAPABILITY FOUND IN CHATTANOOGA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zac Brown Board Member | Trustee | 1 | $0 |
Sydney Crisp Chair | OfficerTrustee | 4 | $0 |
Courtney Watson Secretary | OfficerTrustee | 4 | $0 |
Stacy Johnson Board Member | Trustee | 1 | $0 |
Mina Sartipi Board Member | Trustee | 1 | $0 |
Mickey Cloud Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,852,538 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,852,538 |
| Total Program Service Revenue | $0 |
| Investment income | $12,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,865,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,833 |
| Compensation of current officers, directors, key employees. | $54,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,944,958 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $264,163 |
| Payroll taxes | $155,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,566 |
| Fees for services: Accounting | $22,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $595,209 |
| Advertising and promotion | $27,253 |
| Office expenses | $145,558 |
| Information technology | $550,010 |
| Royalties | $0 |
| Occupancy | $187,200 |
| Travel | $55,671 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $146,296 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $27,007 |
| All other expenses | $25,693 |
| Total functional expenses | $4,641,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,106,145 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $372,567 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,654 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $161,182 |
| Total assets | $2,641,548 |
| Accounts payable and accrued expenses | $158,876 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $159,718 |
| Total liabilities | $318,594 |
| Net assets without donor restrictions | $1,307,049 |
| Net assets with donor restrictions | $1,015,905 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,641,548 |