Civic Intelligence

Entrepreneur Development Center Southwest Tennessee Inc.

990 • Fiscal year 2022 • EIN 45-5186181

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 15, 2022

541 Wiley Parker RdJackson, TN 38305

(731) 554-5555

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.01x

Higher debt load relative to assets than 42% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.01x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

14th percentile

-23%

Higher net margin than 14% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

87th percentile

$96,320

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 15.8% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

6th percentile

-31%

Faster asset growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

23rd percentile

-15%

Faster revenue growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$909,692

Down $414,058 (-31%) from 2021

Net Assets

Down

$904,278

Down $137,564 (-13%) from 2021

Liabilities

Down

$5,414

Down $276,494 (-98%) from 2021

Revenue

Down

$610,826

Down $105,068 (-15%) from 2021

Expenses

Down

$748,707

Down $124,839 (-14%) from 2021

Net Income

Up

-$137,881

Up $19,771 (+13%) from 2021

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $82,129Liabilities 2012: $80,129Net Assets 2012: $2,0002012Assets 2013: $98,700Liabilities 2013: $16,279Net Assets 2013: $82,4212013Assets 2014: $958,327Liabilities 2014: $25,074Net Assets 2014: $933,2532014Assets 2015: $954,924Liabilities 2015: $21,107Net Assets 2015: $933,8172015Assets 2016: $1,008,584Liabilities 2016: $83,833Net Assets 2016: $924,7512016Assets 2017: $912,061Liabilities 2017: $10,354Net Assets 2017: $901,7072017Assets 2018: $1,495,053Liabilities 2018: $320,001Net Assets 2018: $1,175,0522018Assets 2019: $1,661,446Liabilities 2019: $299,697Net Assets 2019: $1,361,7492019Assets 2020: $1,512,143Liabilities 2020: $369,349Net Assets 2020: $1,142,7942020Assets 2021: $1,323,750Liabilities 2021: $281,908Net Assets 2021: $1,041,8422021Assets 2022: $909,692Liabilities 2022: $5,414Net Assets 2022: $904,2782022Assets 2023: $945,144Liabilities 2023: $5,798Net Assets 2023: $939,3462023Assets 2024: $1,147,326Liabilities 2024: $4,790Net Assets 2024: $1,142,5362024Assets 2025: $1,046,940Liabilities 2025: $6,417Net Assets 2025: $1,040,5232025

Highlighted filing

2022

Assets$909,692
Liabilities$5,414
Net Assets$904,278

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2012: $135,838Expenses 2012: $133,838Net Income 2012: $2,0002012Revenue 2013: $381,401Expenses 2013: $307,436Net Income 2013: $73,9652013Revenue 2014: $1,235,684Expenses 2014: $384,852Net Income 2014: $850,8322014Revenue 2015: $380,313Expenses 2015: $379,749Net Income 2015: $5642015Revenue 2016: $602,951Expenses 2016: $618,444Net Income 2016: -$15,4932016Revenue 2017: $169,360Expenses 2017: $192,407Net Income 2017: -$23,0472017Revenue 2018: $1,504,026Expenses 2018: $1,218,018Net Income 2018: $286,0082018Revenue 2019: $1,596,108Expenses 2019: $1,466,111Net Income 2019: $129,9972019Revenue 2020: $928,251Expenses 2020: $1,203,906Net Income 2020: -$275,6552020Revenue 2021: $715,894Expenses 2021: $873,546Net Income 2021: -$157,6522021Revenue 2022: $610,826Expenses 2022: $748,707Net Income 2022: -$137,8812022Revenue 2023: $640,119Expenses 2023: $605,051Net Income 2023: $35,0682023Revenue 2024: $799,360Expenses 2024: $652,870Net Income 2024: $146,4902024Revenue 2025: $916,080Expenses 2025: $1,074,793Net Income 2025: -$158,7132025

Highlighted filing

2022

Revenue$610,826
Expenses$748,707
Net Income-$137,881
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$610,826
Mission and Program Overview

Mission

The entrepreneur development center is the front door for entrepreneurs in southwest tennessee. We help entrepreneurs realize the american dream of having their own business. These businesses create jobs for the community. This vision extends to creating an entrepreneurial culture here in southwest tennessee. Entrepreneurship can do more than just create jobs; it can create new ways to address the challenges that reside in our community. Our mission is to connect entrepreneurs with the critical resources they need to create, build and grow their businesses. These critical resources are experienced mentors, capital, training, knowledge and a supportive community. And, in helping entrepreneurs, we help create jobs for our community.

The entrepreneur development center assists aspiring small business owners in by providing education, mentoring, training and knowledge to assist them in their quest to become entrepreneurs. Entrepreneurship can do more than just create jobs; it can create new ways to address the challenges that reside in our community. Our mission is to connect entrepreneurs with the ritical resources they need to create, build and grow their businesses. These critical resources are experienced mentors, capital, training, knowledge and a supportive community. Related programs to this mission include a coding academy for high school students; funding for medical device research activities for local physcians; and a local life style magazine focused toward community opportunities and business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,024,835$859,324▼ $165,511
Cash and Non-Interest-Bearing Accounts$293,322$44,551▼ $248,771
Prepaid Expenses and Deferred Charges$3,743$3,967▲ $224
Intangible Assets$1,850$1,850→ $0
Total Assets$1,323,750$909,692▼ $414,058
Liabilities
Unsecured Notes Loans Payable$153,297--
Mortgage Notes Payable Secured by Investment Property$120,717--
Accounts Payable and Accrued Expenses$7,894$5,414▼ $2,480
Total Liabilities$281,908$5,414▼ $276,494
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,041,842$904,278▼ $137,564
Total Net Assets Fund Balance$1,041,842$904,278▼ $137,564
Total Liabilities and Net Assets / Fund Balance$1,323,750$909,692▼ $414,058

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$745,927$237,296$983,223
Equipment$113,397$639,490$752,887
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ben HarrisCOOFT$96,320$96,320
Lisa GarnerExecutive DiFT$95,000$95,000

Board Members and Trustees

NameTitle
Frank LawrenceBoard Chairm
Andre GistBoard Member
Austin ThompsonBoard Member
Beth WilsonBoard Member
Kevin AdelsbergerBoard Member
Lisa PierceyBoard Member
Michael LaffoonBoard Member
Ben FergusonCEO
William DonnellCTO
Stephen EldridgeTreasurer/se
Revenue and Support

Revenue Composition

Contributions and Grants
$573,760
Program Service Revenue
$37,066
Investment Income
$0
Other Revenue
$0
All Other Contributions
$25,597
Change in Net Assets
$-137,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$400,157
Other Expenses$348,550
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$199,291--$199,291
Other Salaries and Wages$171,479--$171,479
Depreciation Depletion$165,511--$165,511
Occupancy$53,203$7,504-$60,707
Payroll Taxes$28,917$470-$29,387
Office Expenses$21,353$4,161-$25,514
Advertising$18,172$3,180-$21,352
Insurance$6,953$13,406-$20,359
Fees for Services Other$17,731$2,500-$20,231
Fees for Services Accounting-$14,505-$14,505
Travel$6,981$1,386-$8,367
Conferences and Meetings$3,284$4,102-$7,386
Interest$1,585--$1,585
All Other Expenses$214$40-$254
Other Expenses$115$61-$176
Fees for Services Legal-$138-$138
Total Functional Expenses$696,682$52,025$0$748,707
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
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Copy of 990 made available to board members.

Form 990, Page 6, Part VI, Line 15A

Reviewed and approved by board.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Entrepreneur Development Center
EIN
45-5186181
Phone
7315545555
Address
541 WILEY PARKER RD, JACKSON, TN 38305
Doing Business As
Theco

Signing Officer

Name
Lisa Garner
Title
Executive Director
Phone
7315545555
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Ferguson
Formed
2012
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
8
Employees
8
Volunteers
30

Preparer

Firm
Alexander Thompson Arnold Pllc
Address
227 OIL WELL RD, JACKSON, TN 38305
Preparer
Stephen M Eldridge
Phone
7314278571
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

THECO

FORM 990 - ORGANIZATION'S MISSION

The entrepreneur development center assists aspiring small business owners in by providing education, mentoring, training and knowledge to assist them in their quest to become entrepreneurs. Entrepreneurship can do more than just create jobs; it can create new ways to address the challenges that reside in our community. Our mission is to connect entrepreneurs with the ritical resources they need to create, build and grow their businesses. These critical resources are experienced mentors, capital, training, knowledge and a supportive community. Related programs to this mission include a coding academy for high school students; funding for medical device research activities for local physcians; and a local life style magazine focused toward community opportunities and business.

Form 990, Page 1, Part I, Line 6

Volunteer mentors for students and emerging entrepreneurs

Form 990, Page 2, Part III, Line 4D

Costarters program to train developing entrepreneurs, our jackson home magazine, various workshops and a mobile demonstration and training vehicle.

Form 990, Part XI, Line 9

Donated telecommunications -56,700

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IRS990/MissionDesc0THE ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE RITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY. RELATED PROGRAMS TO THIS MISSION INCLUDE A CODING ACADEMY FOR HIGH SCHOOL STUDENTS; FUNDING FOR MEDICAL DEVICE RESEARCH ACTIVITIES FOR LOCAL PHYSCIANS; AND A LOCAL LIFE STYLE MAGAZINE FOCUSED TOWARD COMMUNITY OPPORTUNITIES AND BUSINESS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0DRIVING INNOVATION - MOBILE LABS PROVIDING BUSINESS AND ENTREPRENEUR DEVELOPMENT RESOURCES FOR DEMONSTRATION AND TRAINING
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IRS990/ProgSrvcAccomActy3Grp/Desc0PROVIDE CODING EDUCATION AND TRAINING FOR HIGH SCHOOL STUDENTS INCLUDING EXPLORATION OF THE OPPORTUNITIES AVAILABLE IN THIS AREA AS A CAREER.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt046115
IRS990/ProgSrvcAccomActyOtherGrp/Desc0COSTARTERS PROGRAM TO TRAIN DEVELOPING ENTREPRENEURS, OUR JACKSON HOME MAGAZINE, VARIOUS WORKSHOPS AND A MOBILE DEMONSTRATION AND TRAINING VEHICLE.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SPACE RENTAL 401
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THECO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE RITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY. RELATED PROGRAMS TO THIS MISSION INCLUDE A CODING ACADEMY FOR HIGH SCHOOL STUDENTS; FUNDING FOR MEDICAL DEVICE RESEARCH ACTIVITIES FOR LOCAL PHYSCIANS; AND A LOCAL LIFE STYLE MAGAZINE FOCUSED TOWARD COMMUNITY OPPORTUNITIES AND BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2VOLUNTEER MENTORS FOR STUDENTS AND EMERGING ENTREPRENEURS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COSTARTERS PROGRAM TO TRAIN DEVELOPING ENTREPRENEURS, OUR JACKSON HOME MAGAZINE, VARIOUS WORKSHOPS AND A MOBILE DEMONSTRATION AND TRAINING VEHICLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPY OF 990 MADE AVAILABLE TO BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REVIEWED AND APPROVED BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DONATED TELECOMMUNICATIONS -56,700
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.92$1.07$0.16
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.14$0.80$0.65$0.15
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.01$0.94$0.64$0.61$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.91$0.01$0.90$0.61$0.75$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.32$0.28$1.04$0.72$0.87$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.51$0.37$1.14$0.93$1.20$0.28
2019Detailed filing. Detailed filing data is available for this year.$1.66$0.30$1.36$1.60$1.47$0.13
2018Detailed filing. Detailed filing data is available for this year.$1.50$0.32$1.18$1.50$1.22$0.29
2017Summary only. Only limited summary data is available for this year.$0.91$0.01$0.90$0.17$0.19$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.01$0.08$0.92$0.60$0.62$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.02$0.93$0.38$0.38$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.96$0.03$0.93$1.24$0.38$0.85
2013Detailed filing. Detailed filing data is available for this year.$0.10$0.02$0.08$0.38$0.31$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.08$0.00$0.14$0.13$0.00