Civic Intelligence

Tech Town Foundation Inc

990 • Fiscal year 2015 • EIN 46-5235151

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 10, 2016

325 Market Street Suite 200Chattanooga, TN 37402

(423) 308-7730

Siviq Scores

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

Liabilities / Assets

97th percentile

1.68x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

94th percentile

4.60x

Higher debt load relative to revenue than 94% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

2nd percentile

-186%

Higher net margin than 2% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Assets

$1,674,696

No earlier filing loaded for comparison.

Net Assets

-$1,135,677

No earlier filing loaded for comparison.

Liabilities

$2,810,373

No earlier filing loaded for comparison.

Revenue

$610,317

No earlier filing loaded for comparison.

Expenses

$1,745,994

No earlier filing loaded for comparison.

Net Income

-$1,135,677

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2015: $1,674,696Liabilities 2015: $2,810,373Net Assets 2015: -$1,135,6772015Assets 2016: $564,573Liabilities 2016: $80,611Net Assets 2016: $483,9622016Assets 2017: $448,121Liabilities 2017: $55,426Net Assets 2017: $392,6952017Assets 2018: $291,162Liabilities 2018: $88,654Net Assets 2018: $202,5082018Assets 2019: $158,954Liabilities 2019: $58,940Net Assets 2019: $100,0142019Assets 2020: $9,344Liabilities 2020: $2,895Net Assets 2020: $6,4492020Assets 2021: $27,706Liabilities 2021: $0Net Assets 2021: $27,7062021Assets 2022: $27,706Liabilities 2022: $0Net Assets 2022: $27,7062022Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2015

Assets$1,674,696
Liabilities$2,810,373
Net Assets-$1,135,677

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2015: $610,317Expenses 2015: $1,745,994Net Income 2015: -$1,135,6772015Revenue 2016: $3,273,417Expenses 2016: $1,853,068Net Income 2016: $1,420,3492016Revenue 2017: $729,273Expenses 2017: $823,853Net Income 2017: -$94,5802017Revenue 2018: $344,384Expenses 2018: $530,011Net Income 2018: -$185,6272018Revenue 2019: $265,751Expenses 2019: $368,245Net Income 2019: -$102,4942019Revenue 2020: $121,056Expenses 2020: $174,563Net Income 2020: -$53,5072020Revenue 2021: $166,276Expenses 2021: $144,594Net Income 2021: $21,6822021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2024: $0Expenses 2024: $1,177Net Income 2024: -$1,1772024

Highlighted filing

2015

Revenue$610,317
Expenses$1,745,994
Net Income-$1,135,677
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 10, 2016
Return Version
2015v2.1
Gross Receipts
$610,317
Mission and Program Overview

Mission

Leveling the playing field for young people by providing access to a unique technology and entrepreneurial learning center; c areer awareness of the unlimited possibilities in technology fields; and 21st century workforce training via problem-based learning.

Leveling the playing field for young people by providing access to a unique technology and entrepreneurial learning center; career awareness of the unlimited possibilities in technology fields; and 21st century workforce training via problem-based learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$1,586,221▲ $1,586,221
Accounts Receivable-$41,800-
Inventories for Sale or Use-$23,360-
Cash and Non-Interest-Bearing Accounts-$23,315-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$-1,135,677▼ $1,135,677
Total Assets$0$1,674,696▲ $1,674,696
Liabilities
Other Liabilities$0$2,629,731▲ $2,629,731
Accounts Payable and Accrued Expenses-$180,642-
Total Liabilities$0$2,810,373▲ $2,810,373
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-1,135,677▼ $1,135,677
Total Liabilities and Net Assets / Fund Balance$0$1,674,696▲ $1,674,696

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$260,421$47,400-
Equipment$205,166$221,998-
Leasehold Improvements$1,120,634$12,402-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael HarrellChairman
Heather SveadasBoard Member
J Britton TaberBoard Member
Matthew McLellandBoard Member
Cordell CarterCEO
S Reginald RuffSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
TU Parks Construction Company-711 E Main Street, Chattanooga, TN 37408$844,158
Antidote PC-436 Frazier Ave, Chattanooga, TN 37405$109,336
Cogent Studios-232 E 11th Street, Chattanooga, TN 37402$102,494
Revenue and Support

Revenue Composition

Contributions and Grants
$505,938
Program Service Revenue
$103,358
Investment Income
$0
Other Revenue
$1,021
All Other Contributions
$393,133
Change in Net Assets
$-1,135,677

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$253,465Current market cost
Total Noncash Contributions2$253,465-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,291,827
Salaries, Compensation, and Employee Benefits$454,167
Total Fundraising Expense$124,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$234,001$66,339$96,889$397,229
Occupancy$14,602$279,821-$294,423
Depreciation Depletion-$281,800-$281,800
Fees for Services Other$71,364$85,940$18,025$175,329
Information Technology$109$151,547-$151,656
Office Expenses$30,849$58,769$62$89,680
Advertising$17,238$66,937$1,638$85,813
Fees for Services Legal-$65,219-$65,219
Interest-$44,880-$44,880
All Other Expenses$28,711$9,799-$38,510
Payroll Taxes$21,219$6,492$7,497$35,208
Other Employee Benefits$3,750$17,980-$21,730
Fees for Services Accounting$4,665$10,667-$15,332
Other Expenses$3,769$4,428-$4,428
Travel$568$3,803-$4,371
Fees for Services Management-$450-$450
Total Functional Expenses$458,924$1,162,959$124,111$1,745,994
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Payable$2,577,202
Due to Tech Town Global$38,153
PAYROLL LIABILITIES: FEDERAL TAXES$7,064
Deferred Revenue - Fees Collected in Advance$4,223
Deferred Revenue - Gift Certificates$2,575
PAYROLL LIABILITIES: TN QUARTERLY TAXES$283
Sales Tax Payable$231
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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 11

Form 990 shall be prepared by the accounting firm, then reviewed and verified by the CEO, CFO or equivalent, and the Chairman of the Board for review and comment. Comments and changes, if any, are then made and the Form 990 is then provided in either electronic or paper form to the remainder of the Executive Committee of the Board for review. The final version is filed with the Internal Revenue Service. Copies of the complete Form 990 shall be maintained by the CFO or equivalent and independent accounting firm. Only Public Disclosure copies will be maintained at TechTown and will be made available to the public for inspection only upon request.

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

Board members and key employees are required to review the policy on an annual basis and submit to the Board Chair a signed copy of the conflict of interest statement indicating acceptance of the policy and disclose any potential conflicts of interest. The written whistleblower and retention and destruction policies were not adopted until 2016 but as of the return being filed these policies were in place.

Form 990, Part VI, Section B, line 15

Compensation of officers and key employees is determined by the Executive Committee of the Board. The Executive Committee reviews responsibilities and proposed salaries and compares to other comparable organizations in our area.

Form 990, Part VI, Section C, line 19

Governing documents, conflict of interest policy and financial statements are made available to the public upon written request

Filing and Contact Details

Filer

Filer Name
Tech Town Foundation Inc
EIN
46-5235151
Phone
4233087730
Address
325 Market Street Suite 200, Chattanooga, TN 37402

Signing Officer

Name
Mike Harrell
Title
Board Chair
Phone
4233087730
Signed
2016-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Harrell
Formed
2014
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
39
Volunteers
1

Preparer

Firm
Henderson Hutcherson & McCullough PLLC
Address
1200 Market Street, Chattanooga, TN 37402
Preparer
Mitchell Desbiens
Phone
4237567771
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Bank & CC Fees: Program service expenses 2,668. Management and general expenses 433. Fundraising expenses 0. Total expenses 3,101. CONSULTING/CONTRACT FEES: Program service expenses 68,696. Management and general expenses 85,507. Fundraising expenses 18,025. Total expenses 172,228.

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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYExcessBenefitTransInd00
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-1135677
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0104379
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-1135677
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0505938
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0505938
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0505938
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0505938
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0505938
IRS990ScheduleA/TotalSupportAmt0505938
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0205166
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0221998
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0427164
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01120634
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt012402
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt01133036
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0260421
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt047400
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0307821
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12575
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt238153
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt37064
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4283
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5231
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt62577202
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED REVENUE - FEES COLLECTED IN ADVANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED REVENUE - GIFT CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO TECH TOWN GLOBAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYROLL LIABILITIES: FEDERAL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4PAYROLL LIABILITIES: TN QUARTERLY TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5SALES TAX PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6LOANS PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01586221
IRS990ScheduleD/TotalLiabilityAmt02629731
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt02
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Technology set up and installation
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0Current market cost
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0253465
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 shall be prepared by the accounting firm, then reviewed and verified by the CEO, CFO or equivalent, and the Chairman of the Board for review and comment. Comments and changes, if any, are then made and the Form 990 is then provided in either electronic or paper form to the remainder of the Executive Committee of the Board for review. The final version is filed with the Internal Revenue Service. Copies of the complete Form 990 shall be maintained by the CFO or equivalent and independent accounting firm. Only Public Disclosure copies will be maintained at TechTown and will be made available to the public for inspection only upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members and key employees are required to review the policy on an annual basis and submit to the Board Chair a signed copy of the conflict of interest statement indicating acceptance of the policy and disclose any potential conflicts of interest. The written whistleblower and retention and destruction policies were not adopted until 2016 but as of the return being filed these policies were in place.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation of officers and key employees is determined by the Executive Committee of the Board. The Executive Committee reviews responsibilities and proposed salaries and compares to other comparable organizations in our area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents, conflict of interest policy and financial statements are made available to the public upon written request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Bank & CC Fees: Program service expenses 2,668. Management and general expenses 433. Fundraising expenses 0. Total expenses 3,101. CONSULTING/CONTRACT FEES: Program service expenses 68,696. Management and general expenses 85,507. Fundraising expenses 18,025. Total expenses 172,228.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt01674696
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt01674696
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0505938
IRS990/TotalEmployeeCnt039
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0124111
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01162959
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0458924
IRS990/TotalFunctionalExpensesGrp/TotalAmt01745994
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt02810373
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt02810373
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1135677
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0458924
IRS990/TotalProgramServiceRevenueAmt0103358
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0104379
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0610317
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01674696
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03803
IRS990/TravelGrp/ProgramServicesAmt0568
IRS990/TravelGrp/TotalAmt04371
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 4526
IRS990/USAddress/CityNm0CHATTANOOGA
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037405
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0http://gotechtown.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Mike Harrell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum04233087730
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Tech Town Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0TECH
ReturnHeader/Filer/EIN0465235151
ReturnHeader/Filer/PhoneNum04233087730
ReturnHeader/Filer/USAddress/AddressLine1Txt0325 Market Street Suite 200
ReturnHeader/Filer/USAddress/CityNm0Chattanooga
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621114363

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