Civic Intelligence

Tech Town Foundation Inc

990 • Fiscal year 2022 • EIN 46-5235151

Jan 01, 2022 to Dec 31, 2022 • Filed on May 13, 2024

PO Box 11449Chattanooga, TN 37401

(423) 308-7730

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$9,688

Down $18,018 (-65%) from 2021

Net Assets

Down

$9,688

Down $18,018 (-65%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses

Revenue

Down

$88,908

Down $77,368 (-47%) from 2021

Expenses

Down

$107,453

Down $37,141 (-26%) from 2021

Net Income

Down

-$18,545

Down $40,227 (-186%) from 2021

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 2022: $9,688Liabilities 2022: $0Net Assets 2022: $9,6882022Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2022

Assets$9,688
Liabilities$0
Net Assets$9,688

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 2022: $88,908Expenses 2022: $107,453Net Income 2022: -$18,5452022Revenue 2024: $0Expenses 2024: $1,177Net Income 2024: -$1,1772024

Highlighted filing

2022

Revenue$88,908
Expenses$107,453
Net Income-$18,545
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$88,908
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
Cash and Non-Interest-Bearing Accounts$24,103$9,688▼ $14,415
Inventories for Sale or Use$3,603--
Total Assets$27,706$9,688▼ $18,018
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$27,706$9,688▼ $18,018
Total Net Assets Fund Balance$27,706$9,688▼ $18,018
Total Liabilities and Net Assets / Fund Balance$27,706$9,688▼ $18,018

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$581,422$581,422
Other Land Buildings-$13,355$13,355
Compensation and Service Providers

Board Members and Trustees

NameTitle
Marlin GinesChairman
S Reginald Ruff IiiOfficer
Heather SveadasSecretary
Britton TaborTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$88,908
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-18,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$86,831
Salaries, Compensation, and Employee Benefits$20,622
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$21,664$110-$21,664
Other Salaries and Wages$20,622--$20,622
Fees for Services Management-$15,500-$15,500
Occupancy-$9,063-$9,063
Fees for Services Other$4,500--$4,500
All Other Expenses$3,139--$3,139
Insurance-$1,303-$1,303
Fees for Services Accounting-$1,239-$1,239
Office Expenses-$1,206-$1,206
Total Functional Expenses$78,599$28,854$0$107,453
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
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
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Tn
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
6

Preparer

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

Additional Explanations

Amended return information

The organization is amending the return to reflect changes made from correcting bookkeeping errors.

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 Appendix332 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/ExplanationTxt0THE ORGANIZATION IS AMENDING THE RETURN TO REFLECT CHANGES MADE FROM CORRECTING BOOKKEEPING ERRORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 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/ExplanationTxt2BOARD 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/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/ExplanationTxt4COMPENSATION 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/ExplanationTxt5THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6LOSS ON DISPOSITION OF ASSETS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FORM 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.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TECH TOWN FOUNDATION INC
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ReturnHeader/Filer/EIN0465235151
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jon C Holden CPA
ReturnHeader/ReturnTs02024-05-13T16:48:45-04:00
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ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0S REGINALD
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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