Tellico Reservoir Development Agency
- Assets
- $28.9m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Vonore, TN
- Founding
- 11/1992
- Data as of
- 08/2022
- EIN
- 62-1144094
Organization Overview
Tellico Reservoir Development Agency is located in Vonore, TN. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2022, Tellico Reservoir Development Agency employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tellico Reservoir Development Agency 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 08/2022, Tellico Reservoir Development Agency generated $4.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $3.2m during the year ending 08/2022. 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
DEVELOP AND EFFECT PLANS FOR THE COMPREHENSIVE DEVELOPMENT OF THE TELLICO RESERVOIR PROJECT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUSTRIAL DEVELOPMENT PROGRAM - SINCE 1982 AGENCY HAS RECRUITED 19 MANUFACTURING/DISTRIBUTION COMPANIES AND 10 COMMERCIAL SERVICE BUSINESSES TO TELLICO WEST.
PUBLIC USE RECREATION PROGRAM - OPERATES PUBLIC CAMPGROUNDS, PUBLIC WALKING TRAILHEAD, AND 12 PUBLIC BOAT LAUNCH AND FISHING PIER FACILITIES.
WASTEWATER TREATMENT- OPERATES WASTE WATER TREATMENT PLANT TO THE INDUSTRIAL PARK AND LOCAL TELLICO COMMUNITY.
COMMERCIAL RECREATION PROGRAM DEVELOPMENT OF LAND INFRASTRUCTURE FROM COMMERCIAL RECREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Hall Executive Di | Officer | 40 | $113,085 |
Susan Pangle Secretary | Officer | 40 | $89,351 |
Buddy Bradshaw Board Member | OfficerTrustee | $0 | |
Mike Webb Board Member | Trustee | $0 | |
Mitch Ingram Vice Chairma | Trustee | $0 | |
Jimmy Matlock Board Member | Trustee | $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 | $225,106 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,106 |
| Total Program Service Revenue | $3,433,978 |
| Investment income | $78,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,443 |
| Net Gain/Loss on Asset Sales | $712,501 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,452,112 |
| 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. | $202,437 |
| Compensation of current officers, directors, key employees. | $20,244 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $572,077 |
| Pension plan accruals and contributions | $28,328 |
| Other employee benefits | $149,219 |
| Payroll taxes | $61,446 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,424 |
| Fees for services: Accounting | $52,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,821 |
| Fees for services: Other | $207,562 |
| Advertising and promotion | $1,931 |
| Office expenses | $101,623 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $353,394 |
| Travel | $211 |
| 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 | $548,987 |
| Insurance | $73,005 |
| All other expenses | $135,922 |
| Total functional expenses | $3,161,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,921,023 |
| Pledges and grants receivable | $73,670 |
| Accounts receivable, net | $1,581,079 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,936 |
| Prepaid expenses and deferred charges | $66,230 |
| Net Land, buildings, and equipment | $20,228,842 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,760 |
| Total assets | $28,907,540 |
| Accounts payable and accrued expenses | $458,866 |
| Grants payable | $0 |
| Deferred revenue | $1,581,018 |
| 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 | $5,898,127 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $523,588 |
| Total liabilities | $8,461,599 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $20,445,941 |
| Total liabilities and net assets/fund balances | $28,907,540 |
Grants Awarded
Over the last fiscal year, Tellico Reservoir Development Agency has awarded $1,110,859 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, TN PURPOSE: EDUCATIONAL | $610,859 |
HYDRASPORTS CUSTOM PURPOSE: RETROFIT BUILDING | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |