East Tennessee Foundation
- Assets
- $239.3m
- Revenue
- $25.9m
- Investments
- $212.2m
- Employees
- 29
- Location
- Knoxville, TN
- Founding
- 12/1963
- Data as of
- 12/2022
- EIN
- 62-0807696
Organization Overview
East Tennessee Foundation is located in Knoxville, TN. The organization was established in 1963. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, East Tennessee Foundation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Tennessee Foundation 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 12/2022, East Tennessee Foundation generated $25.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $23.0m during the year ending 12/2022. While expenses have increased by 10.9% 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.
Since 2015, East Tennessee Foundation has awarded 1,915 individual grants totaling $159,399,123. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ETF IS A COMMUNITY FOUNDATION, SERVING 25 COUNTIES, WHOSE MISSION IS TO PROVIDE PHILANTHROPIC LEADERSHIP INSPIRING DONORS TO MAKE LIVES BETTER AND COMMUNITIES STRONGER IN ENDURING WAYS ACROSS GENERATIONS.
Describe the Organization's Program Activity:
PROVIDED ASSISTANCE IN THE FORM OF 1,047 GRANTS FROM DONOR ADVISED FUNDS TO 482 501(C)(3) ORGANIZATIONS, GOVERNMENT ENTITIES AND CHURCHES TO SUPPORT A WIDE RANGE OF CHARITABLE PURPOSES, BOTH LOCALLY WITHIN THE 25 COUNTY SERVICE AREA AND ALSO OUTSIDE THE REGION.
4D-1) EXPENSES OF 1,328,022, INCLUDING GRANTS OF 1,328,022 - CONDUCTED COMPETITIVE GRANTMAKING PROGRAMS IN THE FIELD-OF-INTEREST AREAS OF AFFORDABLE HOUSING, YOUTH-AT-RISK, RACIAL JUSTICE, WOMEN AND CHILDREN, HEALTH, AND COVID-19 AND OTHER DISASTER RELIEF PROVIDING 98 GRANTS TO 87 501(C)(3) ORGANIZATIONS FOR WORTHWHILE PROJECTS IN THE 25 COUNTY SERVICE AREA AND TO 5 OTHER COMMUNITY FOUNDATIONS IN TENNESSEE, KENTUCKY, AND NORTH CAROLINA. 4D-2) EXPENSES OF 1,895,632, INCLUDING GRANTS OF 1,895,632 - FUNDED 1 GRANT FROM THE PAT SUMMITT FOUNDATION FUND TO THE PAT SUMMITT CLINIC, A STATE-OF-THE-ART FACILITY AT UTMC FOR THE TREATMENT OF ALZHEIMER'S AND OTHER NEUROLOGICAL DISEASES, 16 GRANTS IN SUPPORT OF CAREGIVER TRAININGS, ADULT DAY PROGRAMS, AND OTHER ALZHEIMER'S AND DEMENTIAS-RELATED PURPOSES. 4D-3) EXPENSES OF 299,364, INCLUDING GRANTS OF 299,364 - CONDUCTED LOCALIZED, COMPETITIVE GRANTMAKING PROGRAMS THROUGH THE FOUNDATION'S AFFILIATE AND COUNTY-SPECIFIC FUNDS, ALLOWING LOCAL ADVISORY BOARDS TO SELECT WORTH PROJECTS AND PROGRAMS AT THE LOCAL LEVEL; 74 GRANTS WERE AWARDED TO 65 ORGANIZATIONS FOR A WIDE VARIETY OF CHARITABLE PURPOSES. 4D-4) EXPENSES OF 1,324,142, INCLUDING GRANTS OF 355,467 - MADE 57 DISCRETIONARY GRANTS FROM FUNDS AND PAID PROGRAM-RELATED EXPENSES ASSOCIATED WITH THE MANAGEMENT OF CHARITABLE FUNDS AND THE ALLOCATION OF GRANT FUNDS TO BENEFIT THE 25 COUNTY EAST TENNESSEE REGION.
PROVIDED GENERAL SUPPORT TO 93 501(C)(3) ORGANIZATIONS, GOVERNMENT ENTITIES AND CHURCHES IN THE FORM OF GRANTS FROM DESIGNATED ORGANIZATION AND AGENCY ENDOWMENT FUNDS.
CONDUCTED 69 COMPETITIVE SCHOLARSHIP PROGRAMS TO ENABLE STUDENTS THROUGHOUT THE REGION TO OBTAIN A POST-SECONDARY EDUCATION; 226 STUDENTS RECEIVED SCHOLARSHIPS AND ATTENDED 56 INSTITUTIONS OF HIGHER LEARNING IN TENNESSEE AND THROUGHOUT THE NATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Albritton Treasurer | OfficerTrustee | 1 | $0 |
Lisa Bingham Director | Trustee | 0.2 | $0 |
David Bradshaw Director | Trustee | 1 | $0 |
Patsy Carson Director | Trustee | 1 | $0 |
Kay Clayton Director | Trustee | 0.2 | $0 |
Richard Dapaah Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $713,048 |
| Related organizations | $292,875 |
| Government grants | $380,524 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,129,076 |
| Noncash contributions included in lines 1a–1f | $4,745,370 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,515,523 |
| Total Program Service Revenue | $0 |
| Investment income | $1,874,966 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $23,163 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,354,440 |
| Net Income from Fundraising Events | -$116,187 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,934,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,271,478 |
| Grants and other assistance to domestic individuals. | $849,760 |
| Grants and other assistance to Foreign Orgs/Individuals | $241,100 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $596,942 |
| Compensation of current officers, directors, key employees. | $287,431 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $941,430 |
| Pension plan accruals and contributions | $42,084 |
| Other employee benefits | $83,090 |
| Payroll taxes | $111,020 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,006 |
| Fees for services: Accounting | $66,547 |
| Fees for services: Lobbying | $10,800 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,135 |
| Fees for services: Other | $47,006 |
| Advertising and promotion | $68,938 |
| Office expenses | $45,096 |
| Information technology | $126,528 |
| Royalties | $0 |
| Occupancy | $272,755 |
| Travel | $23,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,684 |
| Insurance | $20,443 |
| All other expenses | $0 |
| Total functional expenses | $23,046,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,581,377 |
| Pledges and grants receivable | $659,716 |
| Accounts receivable, net | $496,298 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $213,121 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,110 |
| Net Land, buildings, and equipment | $79,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $212,240,973 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $239,276,526 |
| Accounts payable and accrued expenses | $31,183 |
| Grants payable | $3,443,090 |
| 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 | $364,444 |
| Total liabilities | $3,838,717 |
| Net assets without donor restrictions | $234,885,256 |
| Net assets with donor restrictions | $552,553 |
| 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 | $239,276,526 |
Grants Awarded
Over the last fiscal year, East Tennessee Foundation has awarded $18,693,616 in support to 281 organizations.
| Grant Recipient | Amount |
|---|---|
ALL SOULS FOUNDATION PURPOSE: GEN/OPER SUPPORT | $10,000 |
AMERICAN HEART ASSOCIATION INC PURPOSE: GEN/OPER SUPPORT | $7,500 |
APPALACHIAN BEAR RESCUE PURPOSE: GEN/OPER SUPPORT | $30,158 |
APPALACHIAN RESOURCE CONSERVATION & PURPOSE: PROGRAM DEVELOPMENT | $16,000 |
ALZHEIMER'S TENNESSEE INC PURPOSE: GEN/OPER SUPPORT | $23,500 |
ARROWMONT SCHOOL OF ARTS AND CRAFTS PURPOSE: PROGRAM DEVELOPMENT | $20,400 |