Civic Intelligence

Tech Town Foundation Inc

990 • Fiscal year 2018 • EIN 46-5235151

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 25, 2019

1100 Market StreetChattanooga, TN 37402

(423) 308-7730

Siviq Scores

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

Liabilities / Assets

86th percentile

0.30x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.26x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

8th percentile

-54%

Higher net margin than 8% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

13th percentile

-35%

Faster asset growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-53%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$291,162

Down $156,959 (-35%) from 2017

Net Assets

Down

$202,508

Down $190,187 (-48%) from 2017

Liabilities

Up

$88,654

Up $33,228 (+60%) from 2017

Revenue

Down

$344,384

Down $384,889 (-53%) from 2017

Expenses

Down

$530,011

Down $293,842 (-36%) from 2017

Net Income

Down

-$185,627

Down $91,047 (-96%) from 2017

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

2018

Assets$291,162
Liabilities$88,654
Net Assets$202,508

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

2018

Revenue$344,384
Expenses$530,011
Net Income-$185,627
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 25, 2019
Return Version
2018v3.1
Gross Receipts
$344,384
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$413,860$284,562▼ $129,298
Accounts Receivable$4,125$5,125▲ $1,000
Inventories for Sale or Use$3,603$3,603→ $0
Cash and Non-Interest-Bearing Accounts$26,533$-2,128▼ $28,661
Total Assets$448,121$291,162▼ $156,959
Liabilities
Accounts Payable and Accrued Expenses$59,986$72,059▲ $12,073
Unsecured Notes Loans Payable-$16,595-
Total Liabilities$59,986$88,654▲ $28,668
Net Assets / Fund Balance
Temporarily Rstr Net Assets$189,269$189,269→ $0
Unrestricted Net Assets$198,866$13,239▼ $185,627
Total Net Assets Fund Balance$388,135$202,508▼ $185,627
Total Liabilities and Net Assets / Fund Balance$448,121$291,162▼ $156,959

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$189,980$404,392$594,372
Other Land Buildings$82,827$24,278$107,105
Leasehold Improvements$11,755$1,745$13,500
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$181,990
Program Service Revenue
$161,904
Investment Income
$0
Other Revenue
$490
All Other Contributions
$181,990
Change in Net Assets
$-185,627
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$376,620
Salaries, Compensation, and Employee Benefits$153,391
Total Fundraising Expense$12,050
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$139,050--$139,050
Depreciation Depletion$86,833$44,715-$131,548
Occupancy$61,787$3,343$3,433$68,563
All Other Expenses$36,348$11,810$687$48,845
Information Technology$17,861$8,707$962$27,530
Fees for Services Accounting$18,564$993$993$20,550
Other Expenses$19,256$127$5,975$19,256
Insurance$14,705$1,922-$16,627
Payroll Taxes$12,580--$12,580
Other Employee Benefits-$1,761-$1,761
Office Expenses-$1,464-$1,464
Travel$1,302--$1,302
Advertising-$1,254-$1,254
Fees for Services Legal-$60-$60
Total Functional Expenses$440,138$77,823$12,050$530,011
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
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 governing body review Part VI 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 990 shall be amaintained by the cfo or equivalent and indeoendent accounting firm. Only public discosure copies will be maintained at tech town and will be made available to the public for inspection only upon request.

Conflict of interest policy compliance Part VI 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 adopted in 2016.

CEO executive director top management comp Part VI line 15A

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 them to other comparable organizations in our area.

Other officer or key employee compensation Part VI line 15B

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 them to other comparable organizations in our area.

Governing documents etc available to public Part VI line 19

The 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
Address
1100 MARKET STREET, CHATTANOOGA, TN 37402

Signing Officer

Name
Michael Harrell
Title
Board Chair
Phone
4233087730
Signed
2019-06-25
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
20
Volunteers
6

Preparer

Firm
Newlin and Associates LLC
Address
6116 SHALLOWFORD RD SUITE 104, CHATTANOOGA, TN 37421
Preparer
Jon C Holden EA
Phone
4236485095
Supplemental Narrative

Additional Explanations

General explanation attachment

Form 990, part i, line 1, description of organizations mission:entrepreneurial learning; career awareness of the unlimited possibilities in technology fields; and 21st century workforce training via problem-based learning.

Raw XML Appendix382 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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 990 SHALL BE AMAINTAINED BY THE CFO OR EQUIVALENT AND INDEOENDENT ACCOUNTING FIRM. ONLY PUBLIC DISCOSURE COPIES WILL BE MAINTAINED AT TECH TOWN 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 ADOPTED IN 2016.
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 THEM TO OTHER COMPARABLE ORGANIZATIONS IN OUR AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE EXECUTIVE COMMITTEE REVIEWS RESPONSIBILITIES AND PROPOSED SALARIES AND COMPARES THEM TO OTHER COMPARABLE ORGANIZATIONS IN OUR AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATIONS MISSION:ENTREPRENEURIAL LEARNING; CAREER AWARENESS OF THE UNLIMITED POSSIBILITIES IN TECHNOLOGY FIELDS; AND 21ST CENTURY WORKFORCE TRAINING VIA PROBLEM-BASED LEARNING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5General explanation attachment
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ReturnHeader/FilingSecurityInformation/IPTm016:36:44
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-10-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jon C Holden EA
ReturnHeader/ReturnTs02019-10-01T11:17:39-04:00
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ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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