Civic Intelligence

Tennessee Technological University Foundation

990 • Fiscal year 2018 • EIN 59-1777911

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

Univ Advan Derryberry HallCookeville, TN 38505-0001

(931) 372-3311

Siviq Scores

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

Liabilities / Assets

13th percentile

0.02x

Higher debt load relative to assets than 13% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

31st percentile

0.18x

Higher debt load relative to revenue than 31% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

73rd percentile

16%

Higher net margin than 73% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

55th percentile

$376,849

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

68th percentile

7.0%

Faster asset growth than 68% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-44%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$91,061,012

Up $5,995,872 (+7.0%) from 2017

Net Assets

Up

$89,311,992

Up $5,832,256 (+7.0%) from 2017

Liabilities

Up

$1,749,020

Up $163,616 (+10%) from 2017

Revenue

Down

$9,698,861

Down $7,547,580 (-44%) from 2017

Expenses

Down

$8,112,304

Down $2,034,928 (-20%) from 2017

Net Income

Down

$1,586,557

Down $5,512,652 (-78%) from 2017

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $54,024,026Liabilities 2011: $546,471Net Assets 2011: $53,477,5552011Assets 2012: $53,228,458Liabilities 2012: $462,306Net Assets 2012: $52,766,1522012Assets 2013: $60,116,767Liabilities 2013: $455,128Net Assets 2013: $59,661,6392013Assets 2014: $68,818,819Liabilities 2014: $1,143,273Net Assets 2014: $67,675,5462014Assets 2015: $65,767,903Liabilities 2015: $445,290Net Assets 2015: $65,322,6132015Assets 2016: $68,328,021Liabilities 2016: $568,779Net Assets 2016: $67,759,2422016Assets 2017: $85,065,140Liabilities 2017: $1,585,404Net Assets 2017: $83,479,7362017Assets 2018: $91,061,012Liabilities 2018: $1,749,020Net Assets 2018: $89,311,9922018Assets 2019: $97,372,063Liabilities 2019: $2,019,390Net Assets 2019: $95,352,6732019Assets 2020: $101,900,329Liabilities 2020: $3,033,030Net Assets 2020: $98,867,2992020Assets 2021: $123,537,262Liabilities 2021: $3,223,383Net Assets 2021: $120,313,8792021Assets 2022: $130,038,853Liabilities 2022: $2,153,386Net Assets 2022: $127,885,4672022Assets 2023: $138,086,554Liabilities 2023: $2,628,900Net Assets 2023: $135,457,6542023Assets 2024: $149,916,981Liabilities 2024: $2,164,628Net Assets 2024: $147,752,3532024

Highlighted filing

2018

Assets$91,061,012
Liabilities$1,749,020
Net Assets$89,311,992

Operations Trend

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

$30M$20M$10M$0Expenses 2011: $3,317,6332011Expenses 2012: $3,845,1912012Revenue 2013: $7,798,966Expenses 2013: $3,525,212Net Income 2013: $4,273,7542013Revenue 2014: $10,355,847Expenses 2014: $4,216,921Net Income 2014: $6,138,9262014Revenue 2015: $9,243,831Expenses 2015: $5,996,349Net Income 2015: $3,247,4822015Revenue 2016: $10,226,059Expenses 2016: $6,549,300Net Income 2016: $3,676,7592016Revenue 2017: $17,246,441Expenses 2017: $10,147,232Net Income 2017: $7,099,2092017Revenue 2018: $9,698,861Expenses 2018: $8,112,304Net Income 2018: $1,586,5572018Revenue 2019: $9,914,701Expenses 2019: $6,965,696Net Income 2019: $2,949,0052019Revenue 2020: $8,761,158Expenses 2020: $5,698,627Net Income 2020: $3,062,5312020Revenue 2021: $10,032,492Expenses 2021: $6,770,506Net Income 2021: $3,261,9862021Revenue 2022: $26,869,874Expenses 2022: $8,022,927Net Income 2022: $18,846,9472022Revenue 2023: $10,635,899Expenses 2023: $9,033,896Net Income 2023: $1,602,0032023Revenue 2024: $13,769,757Expenses 2024: $12,861,723Net Income 2024: $908,0342024

Highlighted filing

2018

Revenue$9,698,861
Expenses$8,112,304
Net Income$1,586,557
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$26,196,806
Mission and Program Overview

Mission

The tennessee technological university foundation is a non-profit 501(c)(3) corporation whose purpose is to provide guidance and assistance for a program of private gift support for tennessee tech. More specifically its purposes are to promote the development program at tennessee tech; provide advice, counsel, and assistance to the president on strategic issues that impact the direction and future of the university; encourage, recognize, and reward outstanding achievements by faculty, staff, students, alumni, and friends of tennessee tech; and receive and administer private funds which are contributed to tennessee tech and in those cases where funds are given with restrictions, to follow and abide by the provisions of the restrictions.

Contribute to the general welfare of society and ttu as a public benefit corporation. Provide private gift support for annual and capital purposes and promote ttu.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$71,092,791$76,826,555▲ $5,733,764
Investments in Publicly Traded Securities$62,473,300$65,142,780▲ $2,669,480
Land, Buildings, and Equipment, Net$14,410,193$14,764,944▲ $354,751
Pd in Cap Srpls Land Bldg Eqp Fund$11,756,211$12,110,962▲ $354,751
Savings and Temporary Cash Investments$4,263,964$6,101,947▲ $1,837,983
Investments Other Securities$3,236,848$4,398,724▲ $1,161,876
Cap Stk Tr Prin Current Funds$630,734$374,475▼ $256,259
Prepaid Expenses and Deferred Charges$160,682$126,266▼ $34,416
Accounts Receivable$366,277$77,810▼ $288,467
Inventories for Sale or Use$11,660$20,477▲ $8,817
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$85,065,140$91,061,012▲ $5,995,872
Other Assets Total$142,216$428,064▲ $285,848
Liabilities
Mortgage Notes Payable Secured by Investment Property$123,204$750,365▲ $627,161
Accounts Payable and Accrued Expenses$1,387,074$536,057▼ $851,017
Other Liabilities$75,126$315,710▲ $240,584
Deferred Revenue$0$146,888▲ $146,888
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,585,404$1,749,020▲ $163,616
Net Assets / Fund Balance
Total Net Assets Fund Balance$83,479,736$89,311,992▲ $5,832,256
Total Liabilities and Net Assets / Fund Balance$85,065,140$91,061,012▲ $5,995,872

Asset Categories

AssetBook ValueDepreciationBasis
Land$12,919,550-$10,265,568
Buildings$767,748$56,881$824,629
Leasehold Improvements$579,739$51,922$631,661
Other Land Buildings$222,152$261,685$483,837
Equipment$275,755$29,178$304,933

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$54,051,678$922,028▲ $4,685,013$448,844$58,293,331
2017$46,202,268$2,513,899▲ $7,613,601$858,999$54,051,678
2016$46,528,391$854,821▼ $127,522$379,699$46,202,268
2015$47,803,814$1,331,878▼ $526,093$715,712$46,528,391
2014$43,550,235$1,097,435▲ $5,175,921$680,980$47,803,814
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$5,015,556
Program Service Revenue
$0
Investment Income
$2,903,560
Other Revenue
$1,779,745
All Other Contributions
$5,015,556
Change in Net Assets
$1,586,557

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Collectibles4$810,833Appraised Value
Real Estate Residential1$278,000Appraised Value
Real Estate Commercial1$196,800Appraised Value
Securities Publicly Traded23$195,668See Misc Narratives
Other Non Cash Contri Table6$34,390Fair Market Value
Other Non Cash Contri Table83$15,289Fair Market Value
Books and Publications-$15,145Fair Market Value
Other Non Cash Contri Table70$12,684Fair Market Value
Securities Closely Held Stock2$5,020Appraised Value
Other Non Cash Contri Table1$4,000Appraised Value
Cars and Other Vehicles1$2,821Appraised Value
Clothing and Household Goods-$1,219Fair Market Value
Total Noncash Contributions192$1,571,869-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,677,872
Revenue Not Reported on Financial Statements
$1,020,989
Revenue Not Reported on Form 990
$4,571,907
Other Revenue Adjustments
$898,388
Total Revenue per Audited Statements
$13,249,779
Total Revenue per Form 990
$9,698,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,705,077
Grants and Similar Amounts Paid$3,407,227
Total Fundraising Expense$40,885
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$2,181,597$198,905$21,430$2,401,932
Grants to Domestic Orgs$1,853,226--$1,853,226
Grants to Domestic Individuals$1,554,001--$1,554,001
Fees for Services Other$644,177$58,733$6,328$709,238
Travel$357,453$32,591$3,511$393,555
Insurance$319,347$29,116$3,137$351,600
Conferences and Meetings$262,892$23,969$2,582$289,443
Information Technology$219,249$19,990$2,154$241,393
Fees for Service Investment Mgmnt Fees-$122,601-$122,601
Advertising$101,076$9,216$993$111,285
Depreciation Depletion$76,321$6,959$750$84,030
Total Functional Expenses$7,569,339$502,080$40,885$8,112,304

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,112,304
Total Expenses per Audited Statements$7,417,523
Expenses per Audited Statements$7,091,315
Expenses Not Reported on Financial Statements$1,020,989
Other Expense Adjustments$898,388
Expenses Not Reported on Form 990$326,208
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Tennessee Technological UniversityCookeville, TNState of TnSupport$1,853,226
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$326,208
Fundraising Gross Income$248,287
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$43,646$43,646$12,557$31,089
Golf Tournament$22,495$22,495$2,625$19,870
Total Events$248,287$248,287$326,208$-77,921
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Revenue$315,710
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A copy of the form 990 was sent to each board member for review before the board's semi-annual spring meeting. The form 990 was also presented and discussed at the spring board meeting.

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

The board of directors are required to sign a conflict of interest statement on an annual basis that discloses any personal and business relationships. The statements are reviewed by the president of the board. If a conflict exists, the individual with the conflict will be asked to recuse himself/herself from the governing body's deliberation and decisions regarding the transaction. Contracts and payments are monitored by the foundation's treasurer and secretary to avoid possible conflicts.

Form 990, Part VI, Section C, Line 19

The secretary has copies of the governing documents and the conflict of interest policy located at tennessee technological university alumni building, 705 north dixie avenue cookeville, tn 38505. These are made available upon rquest. The form 990 is located at the treasurer's office at tennessee technological university, hall room 100 derryberry hall, cookeville, tn 38505.

Filing and Contact Details

Filer

Filer Name
Tennessee Technological University Foundation
EIN
59-1777911
In Care Of
% DR CLAIRE STINSON
Phone
9313723311
Address
UNIV ADVAN DERRYBERRY HALL, COOKEVILLE, TN 38505-0001

Signing Officer

Name
Dr Claire Stinson
Title
Treasurer
Phone
9313723311
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Philip Oldham
Formed
1977
Legal Domicile
Tn
Voting Board Members
17
Independent Board Members
14
Employees
0
Volunteers
150

Preparer

Firm
Bkd Llp
Address
200 E Main St Suite 700, Fort Wayne, IN 46802
Preparer
Anne E White
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990, Schedule G, Part II

The fundraisers shown on schedule g are events that are conducted to help promote the university and to establish relationships with the donors and others affiliated with the university, even though there are no contributions specifically associated with those events.

Financial Statement Notes

Schedule D, Part III, Line 4

The collection given to the tennessee technological university foundation is a group of tuba related artwork and other items. The collection will allow the foundation to continue to support tennessee tech university by allowing viewing, research, and preservation of the collection to further research and tuba related interests at the university.

Schedule D, Part V, Line 4

The foundation's endowment provides funding for scholarships and departmental support for tennessee technological university.

Part XI & XII

Line 2d fundraising expenses $326,208 line 4b golf course expense $393,460 tech farms expense $504,928 total $898,388

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IRS990/Form990PartVIISectionAGrp/PersonNm11CHRIS PRIVON
IRS990/Form990PartVIISectionAGrp/PersonNm12JOHN W ROSE
IRS990/Form990PartVIISectionAGrp/PersonNm13HARRY STONECIPHER
IRS990/Form990PartVIISectionAGrp/PersonNm14NATHAN TUDOR
IRS990/Form990PartVIISectionAGrp/PersonNm15FRED LOWERY
IRS990/Form990PartVIISectionAGrp/PersonNm16DIANNE MURPHY
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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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IRS990/MissionDesc0THE TENNESSEE TECHNOLOGICAL UNIVERSITY FOUNDATION IS A NON-PROFIT 501(C)(3) CORPORATION WHOSE PURPOSE IS TO PROVIDE GUIDANCE AND ASSISTANCE FOR A PROGRAM OF PRIVATE GIFT SUPPORT FOR TENNESSEE TECH. MORE SPECIFICALLY ITS PURPOSES ARE TO PROMOTE THE DEVELOPMENT PROGRAM AT TENNESSEE TECH; PROVIDE ADVICE, COUNSEL, AND ASSISTANCE TO THE PRESIDENT ON STRATEGIC ISSUES THAT IMPACT THE DIRECTION AND FUTURE OF THE UNIVERSITY; ENCOURAGE, RECOGNIZE, AND REWARD OUTSTANDING ACHIEVEMENTS BY FACULTY, STAFF, STUDENTS, ALUMNI, AND FRIENDS OF TENNESSEE TECH; AND RECEIVE AND ADMINISTER PRIVATE FUNDS WHICH ARE CONTRIBUTED TO TENNESSEE TECH AND IN THOSE CASES WHERE FUNDS ARE GIVEN WITH RESTRICTIONS, TO FOLLOW AND ABIDE BY THE PROVISIONS OF THE RESTRICTIONS.
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IRS990/OtherRevenueMiscGrp/Desc0ATHLETIC SPONSORSHIPS
IRS990/OtherRevenueMiscGrp/Desc1GOLDEN EAGLE GOLF COURSE
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IRS990/PrincipalOfficerNm0DR PHILIP OLDHAM
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IRS990/ProgSrvcAccomActy2Grp/Desc0MADE PURCHASES, PAID FOR TRAVEL, AND PERFORMED MAINTENANCE ON BEHALF OF TENNESSEE TECHNOLOGICAL UNIVERSITY DEPARTMENTS, PER DONOR REQUESTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04162112
IRS990/ProgSrvcAccomActy3Grp/Desc0TRANSFERRED FUNDS TO TENNESSEE TECHNOLOGICAL UNIVERSITY FOR THE SUPPORT OF VARIOUS DEPARTMENTS.
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IRS990/PYInvestmentIncomeAmt061787
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$150$2.16$148$13.8$12.9$0.91
2023Detailed filing. Detailed filing data is available for this year.$138$2.63$135$10.6$9.03$1.60
2022Detailed filing. Detailed filing data is available for this year.$130$2.15$128$26.9$8.02$18.8
2021Detailed filing. Detailed filing data is available for this year.$124$3.22$120$10.0$6.77$3.26
2020Detailed filing. Detailed filing data is available for this year.$102$3.03$98.9$8.76$5.70$3.06
2019Detailed filing. Detailed filing data is available for this year.$97.4$2.02$95.4$9.91$6.97$2.95
2018Detailed filing. Detailed filing data is available for this year.$91.1$1.75$89.3$9.70$8.11$1.59
2017Detailed filing. Detailed filing data is available for this year.$85.1$1.59$83.5$17.2$10.1$7.10
2016Detailed filing. Detailed filing data is available for this year.$68.3$0.57$67.8$10.2$6.55$3.68
2015Detailed filing. Detailed filing data is available for this year.$65.8$0.45$65.3$9.24$6.00$3.25
2014Detailed filing. Detailed filing data is available for this year.$68.8$1.14$67.7$10.4$4.22$6.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$0.46$59.7$7.80$3.53$4.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.2$0.46$52.8$3.85
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.0$0.55$53.5$3.32