Carter Street Corporation
- Assets
- $16.7m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 71
- Location
- Chattanooga, TN
- Founding
- 03/1982
- Data as of
- 06/2022
- EIN
- 62-1125122
Organization Overview
Carter Street Corporation is located in Chattanooga, TN. The organization was established in 1982. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Carter Street Corporation employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carter Street Corporation 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, Carter Street Corporation generated $6.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $6.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND MANAGES A CONVENTION CENTER FOR THE PURPOSE OF ENCOURAGING THE ECONOMIC DEVELOPMENT OF CHATTANOOGA AND HAMILTON COUNTY.
THE ORGANIZATION OWNS AND MANAGES A PARKING GARAGE FOR THE PURPOSE OF ENCOURAGING ECONOMIC DEVELOPMENT OF CHATTANOOGA AND HAMILTON COUNTY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Shuford Executive Director | Officer | 40 | $135,757 |
Bill Raines Asst. Secretary/director | OfficerTrustee | 2 | $0 |
Jim Hudson III Chairman | OfficerTrustee | 2 | $0 |
Curtis Johnson Vice Chairman | OfficerTrustee | 2 | $0 |
Hicks Armor Treasurer | OfficerTrustee | 2 | $0 |
Becky Browder Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Walden Security Security Services | 6/29/22 | $250,824 |
Sysco Foods Food Products | 6/29/22 | $144,390 |
Jake Marshall Service Inc Hvac Maintenance | 6/29/22 | $118,974 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $881,922 |
| 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 | $881,922 |
| Total Program Service Revenue | $5,478,296 |
| Investment income | $236,321 |
| 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 | $6,596,539 |
| 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. | $159,746 |
| Compensation of current officers, directors, key employees. | $95,848 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,293,631 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,911 |
| Payroll taxes | $103,653 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,630 |
| Fees for services: Accounting | $11,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,506 |
| Office expenses | $16,134 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $995,638 |
| Travel | $3,310 |
| 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 | $848,037 |
| Insurance | $130,170 |
| All other expenses | $641,204 |
| Total functional expenses | $6,880,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,325,254 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $375,962 |
| 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 | $30,610 |
| Net Land, buildings, and equipment | $7,344,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,638,115 |
| Total assets | $16,714,346 |
| Accounts payable and accrued expenses | $879,497 |
| Grants payable | $0 |
| Deferred revenue | $6,598,648 |
| 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 | $242,038 |
| Total liabilities | $7,720,183 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,649,758 |
| Paid-in or capital surplus, or land, building, or equipment fund | $7,344,405 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,714,346 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carter Street Corporation has recieved totaling $11,793.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: WOMEN OF DISTINCTION EVENT RENTAL | $11,793 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Charlotte Center City Partners Charlotte, NC | $3,090,178 | $6,164,890 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Common Ground Alliance Alexandria, VA | $4,149,136 | $2,873,132 |
Forward Cities Inc Durham, NC | $1,196,373 | $2,460,187 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |
Industrial Commons Morganton, NC | $6,060,975 | $4,558,553 |
Partners In Ministry Laurinburg, NC | $1,633,972 | $2,541,350 |
Small Business Assistance Corp Savannah, GA | $17,970,431 | $1,539,306 |
Catalytic Development Funding Corp Of Northern Kentucky Covington, KY | $17,082,435 | $2,043,108 |