Chattanooga Neighborhood Enterprise Inc
- Assets
- $22.8m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 32
- Location
- Chattanooga, TN
- Founding
- 07/1987
- Data as of
- 06/2021
- EIN
- 62-1300726
Organization Overview
Chattanooga Neighborhood Enterprise Inc is located in Chattanooga, TN. The organization was established in 1987. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Chattanooga Neighborhood Enterprise Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chattanooga Neighborhood Enterprise Inc 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 06/2021, Chattanooga Neighborhood Enterprise Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $4.2m during the year ending 06/2021. While expenses have increased by 12.0% 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
ENCOURAGE HOME OWNERSHIP & REHABILITATION BY ISSUING BELOW-MARKET RATE LOANS, CONSTRUCTING NEW HOUSING UNITS & REHABILITATING EXISTING UNITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENCOURAGE HOME OWNERSHIP & REHABILITATION BY ISSUING BELOW-MARKET RATE LOANS, CONSTRUCTING NEW HOUSING UNITS & REHABILITATING EXISTING UNITS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Petree Loan Officer | 40 | $216,889 | |
Martina Guilfoil President & CEO | Officer | 40 | $160,958 |
Darla Bland Chief Financial Officer | Officer | 40 | $99,187 |
Eugene Schimpf Chairman | Officer | 1 | $0 |
Jerry Lee Treasurer | Officer | 1 | $0 |
Michael Stewart Vice Chairman | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,092,007 |
| Investment income | $79,757 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$71,317 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,214,534 |
| 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. | $270,659 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,442,251 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,408 |
| Fees for services: Accounting | $42,979 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141,845 |
| Advertising and promotion | $56,894 |
| Office expenses | $28,991 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,514 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $366,956 |
| Insurance | $110,936 |
| All other expenses | $0 |
| Total functional expenses | $4,247,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,409,192 |
| Savings and temporary cash investments | $3,344,479 |
| Pledges and grants receivable | $272,984 |
| Accounts receivable, net | $211,527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,430,883 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,888 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $378,006 |
| Intangible assets | $0 |
| Other assets | $1,945,174 |
| Total assets | $22,805,649 |
| Accounts payable and accrued expenses | $556,901 |
| Grants payable | $0 |
| Deferred revenue | $3,112,579 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $186,351 |
| 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 | $8,474,237 |
| Total liabilities | $12,330,068 |
| 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 | $10,475,581 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Chattanooga Neighborhood Enterprise Inc has recieved totaling $251,005.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: EVICTION PREVENTION INITIATIVE | $100,000 |
Robert F Stone Foundation Wilmington, DE PURPOSE: EMPLOYER-BASED SMALL LOAN PROJECT | $75,000 |
Footprint Foundation Inc Chattanooga, TN PURPOSE: TO SUPPORT COMMUNITY ENGAGEMENT AND ORGANIZING EFFORTS IN THE OAK GROVE NEIGHBORHOOD | $50,000 |
Footprint Foundation Inc Chattanooga, TN PURPOSE: TO SUPPORT THE EVICTION FLEXIBLE FUND | $25,000 |
Robert F Stone Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Housing Partnership Inc Louisville, KY | $43,644,315 | $10,025,390 |
Habitat For Humanity Of Kansas City Kansas City, MO | $24,127,378 | $10,262,500 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Guardian Center Inc Ooltewah, TN | $1,527,267 | $10,632,560 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |