Tennessee Business Development Corporation
- Assets
- $132.0k
- Revenue
- $138.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Paris, TN
- Founding
- 06/1990
- Data as of
- 12/2021
- EIN
- 62-1383053
Organization Overview
Tennessee Business Development Corporation is located in Paris, TN. The organization was established in 1990. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Tennessee Business Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Business Development 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 12/2021, Tennessee Business Development Corporation generated $138.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $84.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (20.9%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATE SMALL BUSINESS FINANCING
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS FINANCING AND MANAGEMENT AND BUSINESS PLAN CONSULTATION PROVIDED TO CLIENTS.
SMALL BUSINESS FINANCING AND MANAGEMENT AND BUSINESS PLAN CONSULTATION PROVIDED TO CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Thigpen Ex. Director | OfficerTrustee | $0 | |
Brent Greer President | Trustee | $0 | |
Tim Boyd Vice Preside | Trustee | $0 | |
Mike Coley Director | Trustee | $0 | |
Chuck Sisson Director | Trustee | $0 | |
Albert Wade Secretaryt/t | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $134,887 |
| Investment income | $3,218 |
| 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 | $138,105 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,723 |
| Payroll taxes | $2,320 |
| Fees for services: Management | $5,505 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,568 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,094 |
| Information technology | $4,623 |
| Royalties | $0 |
| Occupancy | $14,528 |
| Travel | $448 |
| 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 | $0 |
| Insurance | $7,911 |
| All other expenses | $0 |
| Total functional expenses | $84,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100 |
| 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 | $5,731 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $525 |
| Total assets | $132,032 |
| Accounts payable and accrued expenses | $2,748 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $2,748 |
| Net assets without donor restrictions | $129,284 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $132,032 |
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