Entrepreneur Development Center Southwest Tennessee Inc
- Assets
- $1.1m
- Revenue
- $799.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Jackson, TN
- Founding
- 09/2012
- Data as of
- 06/2024
- EIN
- 45-5186181
Organization Overview
Entrepreneur Development Center Southwest Tennessee Inc, operating under the name Theco, is located in Jackson, TN. The organization was established in 2012. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Theco employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Theco 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, Theco generated $799.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $652.9k during the year ending 06/2024. While expenses have increased by 6.2% per year over the past 9 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 ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE CRITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY. RELATED PROGRAMS TO THIS MISSION INCLUDE A CODING ACADEMY FOR HIGH SCHOOL STUDENTS; FUNDING FOR MEDICAL DEVICE RESEARCH ACTIVITIES FOR LOCAL PHYSCIANS; AND A LOCAL LIFE STYLE MAGAZINE FOCUSED TOWARD COMMUNITY OPPORTUNITIES AND BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE CRITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY.
COSTARTERS PROGRAM TO TRAIN DEVELOPING ENTREPRENEURS, OUR JACKSON HOME MAGAZINE, VARIOUS WORKSHOPS AND A MOBILE DEMONSTRATION AND TRAINING VEHICLE.
DRIVING INNOVATION - MOBILE LABS PROVIDING BUSINESS AND ENTREPRENEUR DEVELOPMENT RESOURCES FOR DEMONSTRATION AND TRAINING
PROVIDE CODING EDUCATION AND TRAINING FOR HIGH SCHOOL STUDENTS INCLUDING EXPLORATION OF THE OPPORTUNITIES AVAILABLE IN THIS AREA AS A CAREER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Garner CEO | OfficerTrustee | 40 | $95,000 |
Ben Harris COO | OfficerTrustee | 40 | $25,070 |
Austin Thompson Director | Trustee | 1 | $6,000 |
Kevin Adelsberger Director | Trustee | 1 | $0 |
William Donnell Cto | OfficerTrustee | 1 | $0 |
Stephen Eldridge Treasurer/se | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $80,931 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $335,317 |
| All other contributions, gifts, grants, and similar amounts not included above | $324,342 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $740,590 |
| Total Program Service Revenue | $55,854 |
| Investment income | $2,698 |
| 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 | $799,360 |
| 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. | $66,785 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $8,595 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,923 |
| Advertising and promotion | $7,203 |
| Office expenses | $99,410 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,172 |
| Travel | $4,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,388 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,133 |
| Insurance | $17,115 |
| All other expenses | $15 |
| Total functional expenses | $652,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $460,631 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $684,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,850 |
| Other assets | $0 |
| Total assets | $1,147,326 |
| Accounts payable and accrued expenses | $4,790 |
| 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 | $4,790 |
| Net assets without donor restrictions | $1,142,536 |
| Net assets with donor restrictions | $0 |
| 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 | $1,147,326 |