Civic Intelligence

The Enterprise Center Inc

990 • Fiscal year 2017 • EIN 20-0062024

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 27, 2018

Organization ProfileWWW.THEENTERPRISECTR.ORG

View Organization Page

1100 Market Street Floor 5Chattanooga, TN 37402

(423) 661-3300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.10x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

38th percentile

0.05x

Higher debt load relative to revenue than 38% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

28th percentile

-4.3%

Higher net margin than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

89th percentile

$196,533

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 13.9% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

20th percentile

-4.6%

Faster asset growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

17th percentile

-14%

Faster revenue growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$739,625

Down $35,814 (-4.6%) from 2016

Net Assets

Down

$665,972

Down $61,292 (-8.4%) from 2016

Liabilities

Up

$73,653

Up $25,478 (+53%) from 2016

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin28th percentile

Revenue

Down

$1,417,547

Down $230,146 (-14%) from 2016

Expenses

Up

$1,478,839

Up $294,712 (+25%) from 2016

Net Income

Down

-$61,292

Down $524,858 (-113%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $1,003,326Liabilities 2010: $601,241Net Assets 2010: $402,0852010Assets 2011: $1,088,596Liabilities 2011: $686,010Net Assets 2011: $402,5862011Assets 2012: $1,006,537Liabilities 2012: $591,329Net Assets 2012: $415,2082012Assets 2013: $917,588Liabilities 2013: $495,098Net Assets 2013: $422,4902013Assets 2014: $676,287Liabilities 2014: $276,511Net Assets 2014: $399,7762014Assets 2015: $372,573Liabilities 2015: $108,875Net Assets 2015: $263,6982015Assets 2016: $775,439Liabilities 2016: $48,175Net Assets 2016: $727,2642016Assets 2017: $739,625Liabilities 2017: $73,653Net Assets 2017: $665,9722017Assets 2018: $695,828Liabilities 2018: $50,609Net Assets 2018: $645,2192018Assets 2019: $1,212,995Liabilities 2019: $73,184Net Assets 2019: $1,139,8112019Assets 2020: $1,561,353Liabilities 2020: $194,148Net Assets 2020: $1,367,2052020Assets 2021: $3,677,488Liabilities 2021: $78,378Net Assets 2021: $3,599,1102021Assets 2022: $3,389,204Liabilities 2022: $122,547Net Assets 2022: $3,266,6572022Assets 2023: $3,609,826Liabilities 2023: $511,026Net Assets 2023: $3,098,8002023Assets 2024: $2,641,548Liabilities 2024: $318,594Net Assets 2024: $2,322,9542024

Highlighted filing

2017

Assets$739,625
Liabilities$73,653
Net Assets$665,972
Open 2017 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $905,5402010Expenses 2011: $928,5082011Expenses 2012: $1,006,6042012Expenses 2013: $1,000,3012013Revenue 2014: $865,904Expenses 2014: $888,618Net Income 2014: -$22,7142014Revenue 2015: $771,841Expenses 2015: $907,919Net Income 2015: -$136,0782015Revenue 2016: $1,647,693Expenses 2016: $1,184,127Net Income 2016: $463,5662016Revenue 2017: $1,417,547Expenses 2017: $1,478,839Net Income 2017: -$61,2922017Revenue 2018: $1,622,328Expenses 2018: $1,643,081Net Income 2018: -$20,7532018Revenue 2019: $2,634,965Expenses 2019: $2,140,373Net Income 2019: $494,5922019Revenue 2020: $1,963,094Expenses 2020: $1,735,700Net Income 2020: $227,3942020Revenue 2021: $5,998,300Expenses 2021: $3,766,395Net Income 2021: $2,231,9052021Revenue 2022: $2,620,320Expenses 2022: $2,952,773Net Income 2022: -$332,4532022Revenue 2023: $4,737,195Expenses 2023: $4,905,052Net Income 2023: -$167,8572023Revenue 2024: $3,865,247Expenses 2024: $4,641,093Net Income 2024: -$775,8462024

Highlighted filing

2017

Revenue$1,417,547
Expenses$1,478,839
Net Income-$61,292
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 27, 2018
Return Version
2016v3.0
Gross Receipts
$1,417,547
Mission and Program Overview

Mission

To organize and leverage the research, educational and technological resources of the city of chattanooga and hamilton county around the following areas: bridging the digital divide with communities; building on chattanooga's gigabit-per-second infrastructure; and, creating a distinct location to recruit and build new technology based businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$461,430$542,000▲ $80,570
Land, Buildings, and Equipment, Net$254,090$197,625▼ $56,465
Pledges and Grants Receivable$54,000--
Prepaid Expenses and Deferred Charges$5,919--
Total Assets$775,439$739,625▼ $35,814
Liabilities
Accounts Payable and Accrued Expenses$48,175$73,653▲ $25,478
Total Liabilities$48,175$73,653▲ $25,478
Net Assets / Fund Balance
Unrestricted Net Assets$481,411$640,185▲ $158,774
Temporarily Rstr Net Assets$245,853$25,787▼ $220,066
Total Net Assets Fund Balance$727,264$665,972▼ $61,292
Total Liabilities and Net Assets / Fund Balance$775,439$739,625▼ $35,814

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$100,711$43,162$143,873
Equipment$96,914$41,535$138,449
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ken HaysPresidentFT$172,000$24,533$196,533

Board Members and Trustees

NameTitle
David BelitzChairman
Sarah MorganVice-chairman
Ben BrownBoard Member
Bill KilbrideBoard Member
Bob FarnsworthBoard Member
Calvin AndersonBoard Member
David WadeBoard Member
Flora TydingsBoard Member
Keri RandolphBoard Member
Kim WhiteBoard Member
Kirk KellyBoard Member
Kristina MontagueBoard Member
Liz KennedyBoard Member
Mickey CloudBoard Member
Rick HitchcockBoard Member
Scott PierceBoard Member
Sheila BoyingtonBoard Member
Sheldon GrizzleBoard Member
Steven AngleBoard Member
Ted AllingBoard Member
Zac BrownBoard Member
Sydney CrispSecretary
Daniel RyanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,416,995
Program Service Revenue
$0
Investment Income
$552
Other Revenue
$0
All Other Contributions
$911,783
Change in Net Assets
$-61,292

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,417,547
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,417,547
Total Revenue per Form 990
$1,417,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,056,768
Salaries, Compensation, and Employee Benefits$422,071
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$387,000--$387,000
Other Salaries and Wages$163,662$36,732-$200,394
Occupancy$183,018--$183,018
Current Officers, Directors, Trustees, and Key Employees$153,080$18,920-$172,000
Information Technology$112,222--$112,222
Office Expenses$72,391$763-$73,154
Depreciation Depletion-$56,464-$56,464
Other Employee Benefits-$49,677-$49,677
Fees for Services Accounting-$37,629-$37,629
Travel$22,025$5,172-$27,197
Insurance$674$14,280-$14,954
All Other Expenses$3,308$3,231-$6,539
Other Expenses$9,434$6,039-$6,039
Conferences and Meetings$1,418--$1,418
Fees for Services Legal-$675-$675
Total Functional Expenses$1,236,401$242,438$0$1,478,839

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,478,839
Total Expenses per Audited Statements$1,478,839
Total Expenses per Form 990$1,478,839
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is submitted to the treasurer for review and then reviewed and approved by the executive committee. After approval by the executive committee it is submitted to the board of directors prior to being submitted to the irs.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest policy - our employee conflict of interest policy is part of our policy manual and it is made available during the employment process. An employee signs a copy of the policy manual which then becomes part of the employees employment record.”

Form 990, Part VI, Section B, Line 15A

“Ceo compensation is determined by the executive committee of the board of directors. All other employee's salary increases are approved by the board. These levels are included in the president's annual budget.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are available upon request to the public. Additionally, financial statement and single audit results are sent to applicable federal and state granting agencies, uploaded into the federal audit clearinghouse, and delivered to the city of chattanooga. These results are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Enterprise Center Inc
EIN
20-0062024
Phone
4236613300
Address
1100 MARKET STREET FLOOR 5, CHATTANOOGA, TN 37402

Signing Officer

Name
Ken Hays
Title
President & CEO
Phone
4236613300
Signed
2018-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Hays
Formed
2003
Legal Domicile
Tn
Voting Board Members
22
Independent Board Members
22
Employees
3
Volunteers
12

Preparer

Firm
Mauldin & Jenkins
Address
537 MARKET STREET SUITE 300, CHATTANOOGA, TN 37402-1239
Preparer
Matthew T Hisey
Phone
4237566133
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting fees and contracted services: program service expenses 387,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 387,000.”

FORM 990, PART XII, LINE 2C:

“This process has not changed.”

Financial Statement Notes

PART X, LINE 2:

“The organization follows the statutory requirements for its income tax accounting and generally avoids risks associated with potentially problematic tax positions that may be challenged upon examination. Management believes any liability resulting from taxing authorities imposing additional income taxes from activities deemed to be unrelated to the the organization's non-taxable status would not have a material effect on the organization's financial statements.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO ORGANIZE AND LEVERAGE THE RESEARCH, EDUCATIONAL AND TECHNOLOGICAL RESOURCES OF THE CITY OF CHATTANOOGA AND HAMILTON COUNTY AROUND THE FOLLOWING AREAS: BRIDGING THE DIGITAL DIVIDE WITH COMMUNITIES; BUILDING ON CHATTANOOGA'S GIGABIT-PER-SECOND INFRASTRUCTURE; AND, CREATING A DISTINCT LOCATION TO RECRUIT AND BUILD NEW TECHNOLOGY BASED BUSINESSES.
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IRS990/OtherExpensesGrp/Desc3EQUIPMENTAL RENTAL AND
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE CHATTANOOGA INNOVATION DISTRICT, DESIGNATED IN JANUARY 2015, IS PART OF CHATTANOOGA'S DENSE AND WALKABLE URBAN CORE THAT CONTAINS A CATALYTIC MIX OF START-UP BUSINESSES, INCUBATORS, ACCELERATORS AND OTHER INNOVATION ECONOMY GENERATORS AND AMENITIES. THE CHATTANOOGA INNOVATION CENTER IS THE ACTUAL PHYSICAL LOCATION WHERE COMMUNICATION AND IDEAS ARE CIRCULATED.
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IRS990/ProgSrvcAccomActy3Grp/Desc0APPLICATIONS AND RESEARCH'S AGENDA AIMS TO INCREASE CHATTANOOGA'S OPPORTUNITIES AS A NATIONAL TEST-BED, OR LIVING LABORATORY FOR THE CREATION, DEVELOPMENT, EDUCATION, AND BUSINESS GENERATION POTENTIAL OF THE CITY'S DIGITAL ASSETS, IN PARTICULAR THE GIGABIT NETWORK AND SMART GRID.
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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$739,625
Liabilities
$73,653
Net assets
$665,972
Revenue
$1,417,547
Expenses
$1,478,839
Net income
-$61,292
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.64$0.32$2.32$3.87$4.64$0.78
2023Detailed filing. Detailed filing data is available for this year.$3.61$0.51$3.10$4.74$4.91$0.17
2022Detailed filing. Detailed filing data is available for this year.$3.39$0.12$3.27$2.62$2.95$0.33
2021Detailed filing. Detailed filing data is available for this year.$3.68$0.08$3.60$6.00$3.77$2.23
2020Detailed filing. Detailed filing data is available for this year.$1.56$0.19$1.37$1.96$1.74$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.21$0.07$1.14$2.63$2.14$0.49
2018Detailed filing. Detailed filing data is available for this year.$0.70$0.05$0.65$1.62$1.64$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.74$0.07$0.67$1.42$1.48$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.78$0.05$0.73$1.65$1.18$0.46
2015Detailed filing. Detailed filing data is available for this year.$0.37$0.11$0.26$0.77$0.91$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.68$0.28$0.40$0.87$0.89$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.50$0.42$1.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.59$0.42$1.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.69$0.40$0.93
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.60$0.40$0.91