Chattanooga Neighborhood Enterprise Inc
- Assets
- $29.0m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Chattanooga, TN
- Founding
- 07/1987
- Data as of
- 06/2023
- 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 06/2023, Chattanooga Neighborhood Enterprise Inc employed 26 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 06/2023, Chattanooga Neighborhood Enterprise Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $3.8m during the year ending 06/2023. While expenses have increased by 9.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE HOME OWNERSHIP & REHABILITATION BY ISSUING BELOW-MARKET RATE LOANS, CONSTRUCTING NEW HOUSING UNITS AND 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlene Carrabino Director | Trustee | 1 | $0 |
John Crawford Director | Trustee | 1 | $0 |
Crystal Sorrells Director | Trustee | 1 | $0 |
Jenny Hill Director | Trustee | 1 | $0 |
Maria Noel Director | Trustee | 1 | $0 |
Marie Hurley Blair Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rlp Construction Llc Construction | 6/29/23 | $3,510,203 |
Kronberg Wall Architects Llc Architectural Design | 6/29/23 | $226,568 |
William Jacob Toner Real Estate Development | 6/29/23 | $105,001 |
Ferguson Enterprises Llc Appliances | 6/29/23 | $100,344 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,896,159 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,579,148 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,475,307 |
| Total Program Service Revenue | $1,223,522 |
| Investment income | $0 |
| 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 | $4,725,730 |
| 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. | $324,578 |
| Compensation of current officers, directors, key employees. | $10,594 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,281,496 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,127 |
| Fees for services: Accounting | $38,652 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $181,342 |
| Advertising and promotion | $90,342 |
| Office expenses | $13,743 |
| Information technology | $49,248 |
| Royalties | $0 |
| Occupancy | $159,065 |
| Travel | $31,568 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $263,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $519,007 |
| Insurance | $146,699 |
| All other expenses | $108,957 |
| Total functional expenses | $3,846,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,730,479 |
| Savings and temporary cash investments | $1,624,743 |
| Pledges and grants receivable | $73,814 |
| Accounts receivable, net | $96,602 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,024,731 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,551 |
| Net Land, buildings, and equipment | $13,822,370 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,569,708 |
| Total assets | $29,047,998 |
| Accounts payable and accrued expenses | $777,624 |
| Grants payable | $0 |
| Deferred revenue | $215,275 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $200,975 |
| 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 | $13,825,705 |
| Total liabilities | $15,019,579 |
| Net assets without donor restrictions | $11,191,965 |
| Net assets with donor restrictions | $2,836,454 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $29,047,998 |