Mcminn County Economic Development Authority
- Assets
- $3.9m
- Revenue
- $365.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Athens, TN
- Founding
- 04/1987
- Data as of
- 06/2021
- EIN
- 62-1240145
Organization Overview
Mcminn County Economic Development Authority is located in Athens, TN. The organization was established in 1987. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Mcminn County Economic Development Authority employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcminn County Economic Development Authority is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Mcminn County Economic Development Authority generated $365.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $325.6k during the year ending 06/2021. While expenses have increased by 6.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY OBJECTIVE OF THE AUTHORITY IS THE PROMOTION OF INDUSTRIAL DEVELOPMENT AND EXPANSION IN MCMINN COUNTY, TENNESSEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ADDITIONAL DATA
SEE ADDITIONAL DATA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Cass Past Preside | OfficerTrustee | 1 | $0 |
Chris Adams President | OfficerTrustee | 1 | $0 |
Lindsey Ferguson Executive Di | OfficerTrustee | 40 | $0 |
Erin Holbrook Vice-Preside | OfficerTrustee | 1 | $0 |
Will Robinson Treasurer | OfficerTrustee | 1 | $0 |
Russ Blair Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $339,686 |
| Investment income | $1,396 |
| 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 | $365,732 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $138,504 |
| Pension plan accruals and contributions | $12,643 |
| Other employee benefits | $0 |
| Payroll taxes | $15,393 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,420 |
| Advertising and promotion | $5,301 |
| 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 | $4,296 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $325,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $243,573 |
| Pledges and grants receivable | $450 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,609,617 |
| Prepaid expenses and deferred charges | $18,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,866 |
| Total assets | $3,937,468 |
| Accounts payable and accrued expenses | $183 |
| Grants payable | $0 |
| Deferred revenue | $3,150 |
| 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 | $40,125 |
| Total liabilities | $43,458 |
| 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 |
| Total liabilities and net assets/fund balances | $3,894,010 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |