Northwest Tennessee Development
- Assets
- $5.1m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 51
- Location
- Martin, TN
- Founding
- 11/1981
- Data as of
- 06/2024
- EIN
- 62-0852637
Organization Overview
Northwest Tennessee Development is located in Martin, TN. The organization was established in 1981. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Northwest Tennessee Development employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Tennessee Development 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, Northwest Tennessee Development generated $7.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $7.2m during the year ending 06/2024. While expenses have increased by 4.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SERVICES FOR ELDERLY IN THE NORTHWEST TENNESSEE REGION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SERVICES FOR ELDERLY IN THE NORTHWEST TENNESSEE REGION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Goode Exec Directo | Officer | 40 | $96,252 |
Katelyn Edwards Controller | Officer | 40 | $56,784 |
Betty Waggener Financial Of | Officer | 40 | $50,871 |
Joseph Butler Chairman | Trustee | $0 | |
Steve Carr Board Member | Trustee | $0 | |
Danny Cook Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,361,377 |
| 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 | $6,361,377 |
| Total Program Service Revenue | $0 |
| Investment income | $9,508 |
| 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 | $7,011,076 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,801,783 |
| Pension plan accruals and contributions | $170,071 |
| Other employee benefits | $314,003 |
| Payroll taxes | $115,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,553 |
| Fees for services: Accounting | $29,296 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $545,617 |
| Information technology | $10,127 |
| Royalties | $0 |
| Occupancy | $149,836 |
| Travel | $139,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,513 |
| Interest | $67,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,077 |
| Insurance | $0 |
| All other expenses | $244,376 |
| Total functional expenses | $7,176,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000,226 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $894,054 |
| Accounts receivable, net | $1,026,337 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $133,724 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $716,896 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,300,292 |
| Total assets | $5,071,529 |
| Accounts payable and accrued expenses | $463,829 |
| Grants payable | $0 |
| Deferred revenue | $2,054,544 |
| 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 | $2,624,483 |
| Total liabilities | $5,142,856 |
| Net assets without donor restrictions | $0 |
| 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 | -$125,942 |
| Retained earnings, endowment, accumulated income, or other funds | $54,615 |
| Total liabilities and net assets/fund balances | $5,071,529 |