Servnet Inc
- Assets
- $1.8m
- Revenue
- $970.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 04/2009
- Data as of
- 12/2023
- EIN
- 35-2356005
Organization Overview
Servnet Inc is located in Chattanooga, TN. The organization was established in 2009. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Servnet Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Servnet Inc generated $970.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $958.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES REMARKETING SERVICES, INCLUDING AUCTIONEERS, INSPECTIONS, RECONDITIONING, TRANSPORTATION ASSISTANCE AND INVENTORY FINANCING TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REMARKETING SERVICES, INCLUDING AUCTIONEERS, INSPECTIONS, RECONDITIONING, TRANSPORTATION ASSISTANCE, AND INVENTORY FINANCING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Autenrieth Chairman | OfficerTrustee | 0 | $0 |
Chris Angelicchio Executive Director | OfficerTrustee | 0 | $0 |
Chad Bailey President | OfficerTrustee | 0 | $0 |
Paul Barber Director | Trustee | 0 | $0 |
Ryan Clark Vice President | OfficerTrustee | 0 | $0 |
Tim Bowers Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert M Sullivan Management Services | 12/30/20 | $195,766 |
John E Brasher Management Services | 12/30/20 | $237,010 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $210,000 |
| Investment income | $760,268 |
| 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 | $970,268 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,530 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $456,820 |
| Fees for services: Legal | $12,404 |
| Fees for services: Accounting | $45,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $267,790 |
| Office expenses | $12,177 |
| Information technology | $3,698 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $26,827 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,227 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,392 |
| All other expenses | $20 |
| Total functional expenses | $958,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,508 |
| Savings and temporary cash investments | $665,051 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,750 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,120,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,825,309 |
| Accounts payable and accrued expenses | $20 |
| 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 | $0 |
| Total liabilities | $20 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $80,828 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,744,461 |
| Total liabilities and net assets/fund balances | $1,825,309 |
Grants Awarded
Over the last fiscal year, Servnet Inc has awarded $38,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LYNNWAY AUTO AUCTION PURPOSE: MAY 3RD AUTO ACCIDENT | $5,000 |
HOUSTON AUTO AUCTION PURPOSE: HURRICANE HARVEY RELEIF FUND | $20,500 |
CORPUS CHRISTI AUTO AUCTION PURPOSE: HURRICANE HARVEY RELEIF FUND | $12,500 |