Retiree Resource Corp
- Assets
- $5.6m
- Revenue
- $48.3m
- Investments
- $0.0
- Employees
- 520
- Location
- Knoxville, TN
- Founding
- 04/2002
- Data as of
- 09/2023
- EIN
- 62-1870279
Organization Overview
Retiree Resource Corp is located in Knoxville, TN. The organization was established in 2002. According to its NTEE Classification (M20) the organization is classified as: Disaster Preparedness & Relief Services, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 09/2023, Retiree Resource Corp employed 520 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Retiree Resource Corp 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 09/2023, Retiree Resource Corp generated $48.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $48.2m during the year ending 09/2023. While expenses have increased by 0.4% 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
PROVIDES QUALIFIED PERSONNEL FOR STAFF AUGMENTATION TO SUPPLEMENT THE TENNESSEE VALLEY AUTHORITY'S (TVA) WORKFORCE REQUIREMENTS TO ASSIST TVA IN ACHIEVING ITS MISSION. ALSO PROVIDES FINANCIAL SUPPORT TO RELATED TAX-EXEMPT ORGANIZATIONS HAVING SHARED AND/OR COMPLEMENTARY CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETIREE RESOURCES CORPORATION'S (RRC) PRIMARY PURPOSE IS TO AID AND SUPPORT THE TENNESSEE VALLEY AUTHORITY IN ITS POWER AND ENERGY MISSION AS WELL AS ITS WATERSHED MANAGEMENT, PUBLIC RECREATION, ECONOMIC AND COMMUNITY DEVELOPMENT, ENERGY EDUCATION AND CONSERVATION, AND ENVIRONMENTALLY RESPONSIBLE USE AND DEVELOPMENT OF NATURAL RESOURCES. RRC DOES THIS BY PROVIDING WELL TRAINED PERSONNEL FOR SHORT-TERM STAFF AUGMENTATION TO SUPPLEMENT TVA'S WORKFORCE REQUIREMENTS. RRC EMPLOYEES ARE MADE UP OF FORMER TVA EMPLOYEES OR TVA RETIREES. RRC PROVIDES STAFF AT A COST EFFECTIVE RATE TO TVA, THEREBY LESSENING THE BURDEN OF GOVERNMENT. IN ADDITION, RRC IS INVOLVED IN PUBLIC OUTREACH EDUCATIONAL PROGRAMS IN CONJUNCTION WITH TVA. RRC ALSO SUPPORTS OTHER RELATED TAX-EXEMPT ORGANIZATIONS THAT PURSUE ACTIVITIES SIMILAR TO THOSE ENGAGED IN BY RRC. RRC PROVIDED 520 STAFF AUGMENTATION EMPLOYEES TO TVA IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Hoskins Member | Trustee | 4 | $0 |
Dewitt Burleson Member | Trustee | 4 | $0 |
Janet Herrin Secretary | OfficerTrustee | 4 | $0 |
Ralph Rodgers Chairman | OfficerTrustee | 4 | $0 |
Leslie Bazzoon Member | Trustee | 4 | $0 |
Katherine Black President | Officer | 15 | $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 | $48,235,707 |
| Investment income | $80,538 |
| 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 | $48,316,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,200,000 |
| 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 | $41,343,490 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,081,006 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Insurance | $56,607 |
| All other expenses | $0 |
| Total functional expenses | $48,229,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,751,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,850,552 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,601,814 |
| Accounts payable and accrued expenses | $2,696,374 |
| 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 | $2,696,374 |
| Net assets without donor restrictions | $2,905,440 |
| 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 | $5,601,814 |