University Of Chattanooga Foundation Inc
- Assets
- $205.9m
- Revenue
- $13.0m
- Investments
- $111.4m
- Employees
- 2
- Location
- Chattanooga, TN
- Founding
- 10/1942
- Data as of
- 06/2022
- EIN
- 62-0476521
Organization Overview
University Of Chattanooga Foundation Inc is located in Chattanooga, TN. The organization was established in 1942. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Chattanooga Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Chattanooga Foundation 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 06/2022, University Of Chattanooga Foundation Inc generated $13.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $10.2m during the year ending 06/2022. While expenses have increased by 0.3% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF HIGHER EDUCATION THROUGH SPECIAL PROJECTS
Describe the Organization's Program Activity:
SUPPORT OF HIGHER EDUCATION THROUGH SPECIAL PROJECTS OF THE UNIVERSITY OF TENNESSEE AT CHATTANOOGA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lofton Stuart Former Interim Executive Director | 40 | $279,840 | |
Kim White Executive Director | Officer | 40 | $25,000 |
Mike Costello Immediate Past Chair | OfficerTrustee | 0.5 | $0 |
Steve L Frost Treasurer | OfficerTrustee | 0.5 | $0 |
Douglas Brown Chair | OfficerTrustee | 0.5 | $0 |
Bill Kilbride Secretary | OfficerTrustee | 0.5 | $0 |
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 | $9,959,144 |
| Noncash contributions included in lines 1a–1f | $14,246 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,959,144 |
| Total Program Service Revenue | $0 |
| Investment income | $2,081,282 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $913,134 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,953,560 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,147,157 |
| 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. | $184,034 |
| 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 | $0 |
| Fees for services: Legal | $9,722 |
| Fees for services: Accounting | $673,719 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,988 |
| Fees for services: Other | $110,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,931 |
| All other expenses | $0 |
| Total functional expenses | $10,161,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $816,168 |
| Pledges and grants receivable | $14,949,883 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,680,135 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,547 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $56,972,957 |
| Investments—other securities | $111,412,429 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,151 |
| Total assets | $205,885,270 |
| Accounts payable and accrued expenses | $67,459 |
| Grants payable | $721,602 |
| 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 | $13,028,356 |
| Other liabilities | $2,357,591 |
| Total liabilities | $16,175,008 |
| Net assets without donor restrictions | $56,310,921 |
| Net assets with donor restrictions | $133,399,341 |
| 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 | $205,885,270 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Of Chattanooga Foundation Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Mckenzie Foundation Chattanooga, TN PURPOSE: OPERATING FUNDS | $20,000 |
Sigavis Shermanna Foundation Sasa Preston, MN PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $193,156,758 |
| Earnings | -$18,737,525 |
| Net Contributions | $9,842,231 |
| Other Expense | $13,107,174 |
| Ending Balance | $171,154,290 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Ole Miss Athletics Foundation Oxford, MS | $97,065,287 | $57,643,164 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |