Smartbank Foundaiton
- Assets
- $224.3k
- Revenue
- $15.1k
- Investments
- $210.1k
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 04/2009
- Data as of
- 12/2023
- EIN
- 20-8115548
Organization Overview
Smartbank Foundaiton is located in Chattanooga, TN. The organization was established in 2009. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smartbank Foundaiton 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 12/2023, Smartbank Foundaiton generated $15.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $52.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Smartbank Foundaiton has awarded 26 individual grants totaling $207,250. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Billy Carroll President | 2 | $0 | |
Bill Carroll Treasurer | 2 | $0 | |
Miller Welborn Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,457 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,688 |
| Capital Gain Net Income | $6,688 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,145 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $449 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,949 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $52,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,163 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $224,304 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Smartbank Foundaiton has awarded $50,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SABAN CENTER FOUNDATION PURPOSE: $100,000 CONTRIBUTION OVER 5 YEARS TO THE SABAN CENTER WHOSE MISSION IS TO PROVIDE AN ENVIRONMENT THAT ENCOURAGES LEARNING, CREATIVITY, AND TEAMWORK. THE SABAN CENTER IS A STEAM CAMPUS WHERE EDUCATION, EXPERIENCE, AND INNOVATION MEET. SABAN CENTER WILL BE AN INNOVATIVE HUB FOR EDUCATION TRAINING, ARTS PARTICIPATION AND ACADEMIC SUPPORT FOR TEACHERS AND FAMILIES ALIKE FOR LOCAL AND REGIONAL SCHOOL DISTRICTS TO INSPIRE CHILDREN TO ENTER A VARIETY OF STEAM-RELATED FIELDS. | $20,000 |
UNIVERSITY OF TENNESSEE PURPOSE: TO ESTABLISH THE SEVIER COUNTY HIGH SCHOOL UT KNOXVILLE TRI-STAR SCHOLARSHIP ENDOWMENT TO SUPPORT THE UTK OFFICE OF FINANCIAL AID AND SCHOLARSHIPS. THIS SCHOLARSHIP ENDOWMENT WILL HELP ADVANCE UT'S COMMITMENT TO PROVIDE IN-STATE STUDENTS WITH AN AFFORDABLE, HIGH-QUALITY EDUCATION. SMARTBANK'S RECENT GIFT SPECIFICALLY BENEFITS STUDENTS FROM SEVIER COUNTY HIGH SCHOOL TO ATTEND THE UNIVERSITY AND ADVANCES UT'S AIM TO ESTABLISH A TRI-STAR SCHOLARSHIP AT EVERY TENNESSEE HIGH SCHOOL. | $25,000 |
SEVIER COUNTY PARTNERS IN PROGRESS EDUCATION FOUNDATION PURPOSE: DONATION TO THE PARTNERS IN PROGRESS BENEFITING THE SEVIER COUNTY PARTNERS IN PROGRESS EDUCATION FOUNDATION. THE FOUNDATION AWARDS SCHOLARSHIPS FOR STUDENTS TO TAKE DUAL ENROLLMENT CLASSES AT WALTERS STATE COMMUNITY COLLEGE WHILE ATTENDING ONE OF THE SEVIER COUNTY HIGH SCHOOLS. ONCE THEY HAVE GRADUATED AND HAVE SUCCESSFULLY COMPLETED 60 HOURS AT WSCC, THEY ARE ELIGIBLE TO RECEIVE UP TO $3,000 PER SEMESTER FOR 4 SEMESTERS TO ENABLE THEM TO OBTAIN A 4-YEAR DEGREE FROM ETSU IN SEVIERVILLE. | $5,000 |