Civic Intelligence

Tennessee Economic Partnership Inc.

990 • Fiscal year 2020 • EIN 62-1395789

Jan 01, 2020 to Dec 31, 2020 • Filed on May 13, 2021

Organization ProfileWWW.TENNEP.COM
2314 Brittany DriveNashville, TN 37206

(615) 337-1596

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

90th percentile

50%

Higher net margin than 90% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

69th percentile

17%

Faster asset growth than 69% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

5.8%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,327,252

Up $191,709 (+17%) from 2019

Net Assets

Up

$1,327,252

Up $231,494 (+21%) from 2019

Liabilities

Down

$0

Down $39,785 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin90th percentile

Revenue

Up

$258,042

Up $14,244 (+5.8%) from 2019

Expenses

Down

$129,439

Down $68,143 (-34%) from 2019

Net Income

Up

$128,603

Up $82,387 (+178%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $654,437Liabilities 2011: $22,857Net Assets 2011: $631,5802011Assets 2012: $732,447Liabilities 2012: $195Net Assets 2012: $732,2522012Assets 2013: $709,393Liabilities 2013: $8,740Net Assets 2013: $700,6532013Assets 2014: $684,515Liabilities 2014: $120Net Assets 2014: $684,3952014Assets 2015: $877,489Liabilities 2015: $119Net Assets 2015: $877,3702015Assets 2016: $887,624Liabilities 2016: $25Net Assets 2016: $887,5992016Assets 2017: $978,991Liabilities 2017: $13,091Net Assets 2017: $965,9002017Assets 2018: $983,019Liabilities 2018: $33,006Net Assets 2018: $950,0132018Assets 2019: $1,135,543Liabilities 2019: $39,785Net Assets 2019: $1,095,7582019Assets 2020: $1,327,252Liabilities 2020: $0Net Assets 2020: $1,327,2522020Assets 2021: $1,535,782Liabilities 2021: $42,843Net Assets 2021: $1,492,9392021Assets 2022: $1,361,343Liabilities 2022: $11,000Net Assets 2022: $1,350,3432022Assets 2023: $1,515,352Liabilities 2023: $0Net Assets 2023: $1,515,3522023Assets 2024: $1,368,701Liabilities 2024: $90,188Net Assets 2024: $1,278,5132024

Highlighted filing

2020

Assets$1,327,252
Liabilities$0
Net Assets$1,327,252
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $349,016Expenses 2011: $317,647Net Income 2011: $31,3692011Revenue 2012: $328,326Expenses 2012: $231,252Net Income 2012: $97,0742012Revenue 2013: $206,706Expenses 2013: $264,710Net Income 2013: -$58,0042013Revenue 2014: $164,479Expenses 2014: $183,491Net Income 2014: -$19,0122014Revenue 2015: $406,443Expenses 2015: $192,798Net Income 2015: $213,6452015Revenue 2016: $184,515Expenses 2016: $175,786Net Income 2016: $8,7292016Revenue 2017: $277,448Expenses 2017: $199,322Net Income 2017: $78,1262017Revenue 2018: $278,074Expenses 2018: $244,978Net Income 2018: $33,0962018Revenue 2019: $243,798Expenses 2019: $197,582Net Income 2019: $46,2162019Revenue 2020: $258,042Expenses 2020: $129,439Net Income 2020: $128,6032020Revenue 2021: $333,181Expenses 2021: $167,494Net Income 2021: $165,6872021Revenue 2022: $228,000Expenses 2022: $208,515Net Income 2022: $19,4852022Revenue 2023: $281,500Expenses 2023: $230,894Net Income 2023: $50,6062023Revenue 2024: $350,239Expenses 2024: $313,066Net Income 2024: $37,1732024

Highlighted filing

2020

Revenue$258,042
Expenses$129,439
Net Income$128,603
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 13, 2021
Return Version
2020v4.1
Gross Receipts
$258,042
Mission and Program Overview

Mission

Through strategically planned networking events, the tennessee economic partnership generates leads and builds relationships with key prospects and consultants. Tep works to increase private capital investment and create higher personal and family incomes for all.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$813,508$932,980▲ $119,472
Cash and Non-Interest-Bearing Accounts$154,960$199,665▲ $44,705
Pledges and Grants Receivable$167,075$194,607▲ $27,532
Total Assets$1,135,543$1,327,252▲ $191,709
Liabilities
Deferred Revenue$38,575--
Accounts Payable and Accrued Expenses$1,210--
Total Liabilities$39,785$0▼ $39,785
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,095,758$1,327,252▲ $231,494
Total Net Assets Fund Balance$1,095,758$1,327,252▲ $231,494
Total Liabilities and Net Assets / Fund Balance$1,135,543$1,327,252▲ $191,709
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Tim TidwellChair
Wil EvansChair Elect Treasurer
Bob BibbIrfinance Comm Chair
Charles WoodMarketing Chair
Kyle SpurgeonPast Chair
Heidi SmithSr Vice President Econ Dev
Alicia SummersDirector
Allen BordenDirector
Bryan DanielsDirector
Clay WalkerDirector
Doug LawyerDirector
Frank TateDirector
Jack QuallsDirector
James FentonDirector
Jeff HiteDirector
Mark HerbisonDirector
Rod KirkDirector
Shelby SpurgeonDirector
Susan MaynorDirector
Lindsay FrillingSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$236,357
Program Service Revenue
$0
Investment Income
$21,685
Other Revenue
$0
All Other Contributions
$236,357
Change in Net Assets
$128,603

Audited Revenue Reconciliation

Revenue per Audited Statements
$258,042
Revenue Not Reported on Form 990
$102,891
Total Revenue per Audited Statements
$360,933
Total Revenue per Form 990
$258,042
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,439
Total Fundraising Expense$9,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$72,000$9,000$9,000$90,000
Conferences and Meetings$21,622--$21,622
Fees for Services Accounting-$4,500-$4,500
Insurance-$2,436-$2,436
Other Expenses-$678-$678
All Other Expenses-$197-$197
Office Expenses-$51-$51
Total Functional Expenses$93,622$26,817$9,000$129,439

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$129,439
Total Expenses per Audited Statements$129,439
Total Expenses per Form 990$129,439
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Management duties delegation Part VI line 3

“Parthenon pr is under contract with the tennessee economic partnership. Jena thomas is the primary point of contact for parthenon pr who performs management related services for tennessee economic partnership.”

Form 990 governing body review Part VI line 11

“A copy of the 990 is available to distribute to the board prior to filing.”

Governing documents etc available to public Part VI line 19

“Governing documents, policies, financial statements and copies of the 990 are made available upon request and on guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Tennessee Economic Partnership Inc
EIN
62-1395789
Address
2314 BRITTANY DRIVE, NASHVILLE, TN 37206
Doing Business As
Co Parthenon Pr

Signing Officer

Name
Tim Tidwell
Title
Chair
Phone
6153371596
Signed
2021-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Tidwell
Formed
1990
Legal Domicile
Tn
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
20

Preparer

Firm
Bellenfant Pllc
Address
2919 BERRY HILL DR, NASHVILLE, TN 37204
Preparer
John Bellenfant CPA
Phone
6153708700
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“The organization has evaluated its tax positions in accordance with the codification standard relating to accounting for uncertainty in income taxes. The organization believes that it has taken no uncertain tax positions.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt13CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt15SR VICE PRESIDENT ECON DEV
IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17MARKETING CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt18IRFINANCE COMM CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIR ELECT TREASURER
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IRS990/MissionDesc0THROUGH STRATEGICALLY PLANNED NETWORKING EVENTS, THE TENNESSEE ECONOMIC PARTNERSHIP GENERATES LEADS AND BUILDS RELATIONSHIPS WITH KEY PROSPECTS AND CONSULTANTS. TEP WORKS TO INCREASE PRIVATE CAPITAL INVESTMENT AND CREATE HIGHER PERSONAL AND FAMILY INCOMES FOR ALL.
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IRS990/OtherExpensesGrp/Desc2BOARD EXPENSE
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IRS990/PrincipalOfficerNm0TIM TIDWELL
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS IN ACCORDANCE WITH THE CODIFICATION STANDARD RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ORGANIZATION BELIEVES THAT IT HAS TAKEN NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PARTHENON PR IS UNDER CONTRACT WITH THE TENNESSEE ECONOMIC PARTNERSHIP. JENA THOMAS IS THE PRIMARY POINT OF CONTACT FOR PARTHENON PR WHO PERFORMS MANAGEMENT RELATED SERVICES FOR TENNESSEE ECONOMIC PARTNERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS AVAILABLE TO DISTRIBUTE TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, POLICIES, FINANCIAL STATEMENTS AND COPIES OF THE 990 ARE MADE AVAILABLE UPON REQUEST AND ON GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Management duties delegation Part VI line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
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IRS990/TotalAssetsBOYAmt01135543
IRS990/TotalAssetsEOYAmt01327252
IRS990/TotalAssetsGrp/BOYAmt01135543
IRS990/TotalAssetsGrp/EOYAmt01327252
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,327,252
Liabilities
$0
Net assets
$1,327,252
Revenue
$258,042
Expenses
$129,439
Net income
$128,603
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.09$1.28$0.35$0.31$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$0.28$0.23$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.36$0.01$1.35$0.23$0.21$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.54$0.04$1.49$0.33$0.17$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.33$0.00$1.33$0.26$0.13$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.14$0.04$1.10$0.24$0.20$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.03$0.95$0.28$0.24$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.98$0.01$0.97$0.28$0.20$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.89$0.00$0.89$0.18$0.18$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.41$0.19$0.21
2014Detailed filing. Detailed filing data is available for this year.$0.68$0.00$0.68$0.16$0.18$0.02
2013Summary only. Only limited summary data is available for this year.$0.71$0.01$0.70$0.21$0.26$0.06
2012Summary only. Only limited summary data is available for this year.$0.73$0.00$0.73$0.33$0.23$0.10
2011Summary only. Only limited summary data is available for this year.$0.65$0.02$0.63$0.35$0.32$0.03