Liabilities / Assets
84th percentile
Higher debt load relative to assets than 84% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.31x
Liabilities / Revenue
67th percentile
Higher debt load relative to revenue than 67% of similar nonprofits.
Net Margin
14th percentile
Higher net margin than 14% of similar nonprofits.
Top Officer Pay
76th percentile
Higher top officer pay than 76% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
3rd percentile
Faster asset growth than 3% of similar nonprofits.
Revenue Growth
20th percentile
Faster revenue growth than 20% of similar nonprofits.
Balance Sheet
Assets
Down$9,344
Down $149,610 (-94%) from 2019
Net Assets
Down$6,449
Down $93,565 (-94%) from 2019
Liabilities
Down$2,895
Down $56,045 (-95%) from 2019
Revenue And Expenses
Revenue
Down$121,056
Down $144,695 (-54%) from 2019
Expenses
Down$174,563
Down $193,682 (-53%) from 2019
Net Income
Up-$53,507
Up $48,987 (+48%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2020 to Dec 31, 2020
- Signed
- Jul 16, 2021
- Return Version
- 2020v4.1
- Gross Receipts
- $121,056
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
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Prepaid Expenses and Deferred Charges | - | $4,718 | - |
| Inventories for Sale or Use | $3,603 | $3,603 | → $0 |
| Cash and Non-Interest-Bearing Accounts | $2,452 | $598 | ▼ $1,854 |
| Land, Buildings, and Equipment, Net | $152,615 | $425 | ▼ $152,190 |
| Total Assets | $158,669 | $9,344 | ▼ $149,325 |
| Other Assets Total | $-1 | - | - |
| Liabilities | |||
| Unsecured Notes Loans Payable | $16,797 | $2,889 | ▼ $13,908 |
| Accounts Payable and Accrued Expenses | $3,335 | $6 | ▼ $3,329 |
| Total Liabilities | $20,132 | $2,895 | ▼ $17,237 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $189,269 | $189,269 | → $0 |
| Net Assets Without Donor Restrictions | $-50,732 | $-182,820 | ▼ $132,088 |
| Total Net Assets Fund Balance | $138,537 | $6,449 | ▼ $132,088 |
| Total Liabilities and Net Assets / Fund Balance | $158,669 | $9,344 | ▼ $149,325 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $425 | $580,997 | $581,422 |
| Other Land Buildings | - | $13,355 | $13,355 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Marlin Gines | Chairman |
| S Reginald Ruff Iii | Officer |
| Heather Sveadas | Secretary |
| Britton Tabor | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $57,500
- Program Service Revenue
- $63,556
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $17,500
- Change in Net Assets
- $-53,507
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $161,193 |
| Salaries, Compensation, and Employee Benefits | $13,370 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Depreciation Depletion | $38,969 | $34,640 | - | $73,609 |
| Other Expenses | $27,937 | - | - | $27,937 |
| Occupancy | - | $13,500 | - | $13,500 |
| Other Salaries and Wages | $12,409 | - | - | $12,409 |
| Fees for Services Management | - | $8,250 | - | $8,250 |
| Fees for Services Accounting | $195 | $7,313 | - | $7,508 |
| All Other Expenses | $3,218 | $3,512 | - | $6,730 |
| Information Technology | - | $4,753 | - | $4,753 |
| Insurance | - | $1,305 | - | $1,305 |
| Payroll Taxes | $1,036 | - | - | $1,036 |
| Office Expenses | - | $480 | - | $480 |
| Interest | - | $33 | - | $33 |
| Other Employee Benefits | $-75 | - | - | $-75 |
| Total Functional Expenses | $100,777 | $73,786 | $0 | $174,563 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
- Backup withholding compliance
- Yes
- 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
- 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
- PO BOX 11449, CHATTANOOGA, TN 37401
Signing Officer
- Name
- S Reginald Ruff Iii
- Title
- Officer
- Phone
- 4232409311
- Signed
- 2021-07-16
- Discuss with paid preparer
- Yes
Organization Details
- Formed
- 2014
- Legal Domicile
- Tn
- Voting Board Members
- 4
- Independent Board Members
- 4
- Employees
- 2
- 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
Explanation of other changes in net assets or fund balances Part XI line 9
“Loss on disposition of assets”
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 Appendix369 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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| IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt | 0 | 8250 |
| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 8250 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
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| IRS990/FormationYr | 0 | 2014 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | LOSS ON DISPOSITION OF ASSETS |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990 governing body review Part VI line 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Conflict of interest policy compliance Part VI line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | CEO executive director top management comp Part VI line 15a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Other officer or key employee compensation Part VI line 15b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Governing documents etc available to public Part VI line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Explanation of other changes in net assets or fund balances Part XI line 9 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | General explanation attachment |
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| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
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| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | S REGINALD RUFF III |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | OFFICER |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 4232409311 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-07-16 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | TECH TOWN FOUNDATION INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | TECH |
| ReturnHeader/Filer/EIN | 0 | 465235151 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO BOX 11449 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | CHATTANOOGA |
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| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 205679183 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | NEWLIN AND ASSOCIATES LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 6116 SHALLOWFORD RD SUITE 104 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | CHATTANOOGA |
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| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2021-07-28 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Jon C Holden EA |
| ReturnHeader/ReturnTs | 0 | 2021-07-28T16:25:46-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
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| ReturnHeader/TaxPeriodBeginDt | 0 | 2020-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2020-12-31 |
| ReturnHeader/TaxYr | 0 | 2020 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $9,344
- Liabilities
- $2,895
- Net assets
- $6,449
- Revenue
- $121,056
- Expenses
- $174,563
- Net income
- -$53,507