Civic Intelligence

Tennessee Technology Development Corp

EIN 62-1765738 • 501(c)3 • Nashville, TN

Profile

Creation of economic activity through development of technological research and development.

601 Taylor Place 101Nashville, TN 37208

www.launchtn.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.89x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

86th percentile

1.91x

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

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

46th percentile

3.2%

Higher net margin than 46% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

80th percentile

18%

Faster asset growth than 80% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2025

Revenue Growth

66th percentile

15%

Faster revenue growth than 66% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2025

Assets

Up

$37,823,501

Up $5,598,601 (+17%) from 2024

Liabilities

Up

$33,645,979

Up $5,040,334 (+18%) from 2024

Net Assets

Up

$4,177,522

Up $558,267 (+15%) from 2024

Revenue

Up

$17,648,522

Up $4,625,208 (+36%) from 2024

Expenses

Up

$17,090,256

Up $4,806,639 (+39%) from 2024

Net Income

Down

$558,266

Down $181,431 (-25%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2011: $535,920Liabilities 2011: $293,339Net Assets 2011: $242,5812011Assets 2012: $9,844,017Liabilities 2012: $9,499,631Net Assets 2012: $344,3862012Assets 2013: $20,708,040Liabilities 2013: $20,146,742Net Assets 2013: $561,2982013Assets 2014: $31,738,504Liabilities 2014: $30,642,139Net Assets 2014: $1,096,3652014Assets 2015: $30,656,854Liabilities 2015: $29,443,875Net Assets 2015: $1,212,9792015Assets 2016: $29,029,299Liabilities 2016: $27,957,671Net Assets 2016: $1,071,6282016Assets 2017: $16,403,607Liabilities 2017: $15,640,193Net Assets 2017: $763,4142017Assets 2018: $14,419,680Liabilities 2018: $13,036,586Net Assets 2018: $1,383,0942018Assets 2019: $15,834,114Liabilities 2019: $13,763,806Net Assets 2019: $2,070,3082019Assets 2020: $16,120,330Liabilities 2020: $13,895,211Net Assets 2020: $2,225,1192020Assets 2021: $17,450,024Liabilities 2021: $14,531,922Net Assets 2021: $2,918,1022021Assets 2022: $18,062,853Liabilities 2022: $15,227,494Net Assets 2022: $2,835,3592022Assets 2023: $26,945,258Liabilities 2023: $24,065,698Net Assets 2023: $2,879,5602023Assets 2024: $32,224,900Liabilities 2024: $28,605,645Net Assets 2024: $3,619,2552024Assets 2025: $37,823,501Liabilities 2025: $33,645,979Net Assets 2025: $4,177,5222025

Highlighted filing

2025

Assets$37,823,501
Liabilities$33,645,979
Net Assets$4,177,522

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $1,171,6752011Expenses 2012: $1,425,6792012Expenses 2013: $2,547,4952013Revenue 2014: $5,725,388Expenses 2014: $5,190,321Net Income 2014: $535,0672014Revenue 2015: $5,101,266Expenses 2015: $4,984,653Net Income 2015: $116,6132015Revenue 2016: $4,681,406Expenses 2016: $4,822,756Net Income 2016: -$141,3502016Revenue 2017: $4,501,537Expenses 2017: $4,809,751Net Income 2017: -$308,2142017Revenue 2018: $6,325,477Expenses 2018: $5,705,797Net Income 2018: $619,6802018Revenue 2019: $6,604,760Expenses 2019: $6,219,382Net Income 2019: $385,3782019Revenue 2020: $8,326,183Expenses 2020: $8,171,372Net Income 2020: $154,8112020Revenue 2021: $5,151,930Expenses 2021: $4,656,869Net Income 2021: $495,0612021Revenue 2022: $12,109,273Expenses 2022: $12,192,016Net Income 2022: -$82,7432022Revenue 2023: $13,419,783Expenses 2023: $13,375,582Net Income 2023: $44,2012023Revenue 2024: $13,023,314Expenses 2024: $12,283,617Net Income 2024: $739,6972024Revenue 2025: $17,648,522Expenses 2025: $17,090,256Net Income 2025: $558,2662025

Highlighted filing

2025

Revenue$17,648,522
Expenses$17,090,256
Net Income$558,266

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$37.8$33.6$4.18$17.6$17.1$0.56
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.2$28.6$3.62$13.0$12.3$0.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.9$24.1$2.88$13.4$13.4$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.1$15.2$2.84$12.1$12.2$0.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$14.5$2.92$5.15$4.66$0.50
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$13.9$2.23$8.33$8.17$0.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$13.8$2.07$6.60$6.22$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$13.0$1.38$6.33$5.71$0.62
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.4$15.6$0.76$4.50$4.81$0.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.0$28.0$1.07$4.68$4.82$0.14
2015Detailed filing. Detailed filing data is available for this year.$30.7$29.4$1.21$5.10$4.98$0.12
2014Detailed filing. Detailed filing data is available for this year.$31.7$30.6$1.10$5.73$5.19$0.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.7$20.1$0.56$2.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.84$9.50$0.34$1.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.29$0.24$1.17
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 13, 2026
Return Version
2024v5.5
Gross Receipts
$18,676,561
Mission and Program Overview

Mission

Creation of economic activity through development of technological research and development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$21,154,276$29,042,270▲ $7,887,994
Savings and Temporary Cash Investments$3,741,071$4,387,068▲ $645,997
Pledges and Grants Receivable$6,816,108$3,769,691▼ $3,046,417
Intangible Assets$118,785$444,131▲ $325,346
Prepaid Expenses and Deferred Charges$184,292$102,243▼ $82,049
Land, Buildings, and Equipment, Net$198,900$47,509▼ $151,391
Accounts Receivable$11,468$30,589▲ $19,121
Total Assets$32,224,900$37,823,501▲ $5,598,601
Liabilities
Other Liabilities$28,376,984$33,230,799▲ $4,853,815
Accounts Payable and Accrued Expenses$208,661$319,014▲ $110,353
Deferred Revenue$20,000$96,166▲ $76,166
Total Liabilities$28,605,645$33,645,979▲ $5,040,334
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,528,067$4,189,663▲ $661,596
Net Assets Without Donor Restrictions$91,188$-12,141▼ $103,329
Total Net Assets Fund Balance$3,619,255$4,177,522▲ $558,267
Total Liabilities and Net Assets / Fund Balance$32,224,900$37,823,501▲ $5,598,601

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$47,509$63,038$110,547
Investment Program Related Org$150,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lindsey CoxPresident & CEOFT$217,875$60,364$278,239
Katherine ReallFinance & Administration DirectorFT$173,729$64,560$238,289
Eller KelliherChief Investment OfficerFT$182,108$38,913$221,021
Emily MastersDevelopment DirectorFT$138,738$31,737$170,475
Chloe MorrisonCommunications DirectorFT$105,296$15,217$120,513

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Nelson Mullins Riley & ScarboroughLegal Services1320 MAIN STREET, Columbia, SC 29201$198,382
Runtime Computing Solutions LLCConsulting525 EAST 4TH STREET, Chatanooga, TN 37403$120,000
Chazin & CompanyAccounting ServicesPO BOX 306579, Nashville, TN 37230-6579$103,492
Revenue and Support

Revenue Composition

Contributions and Grants
$18,281,548
Program Service Revenue
$0
Investment Income
$77,253
Other Revenue
$-710,279
All Other Contributions
$370,487
Change in Net Assets
$558,266

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,780,351
Revenue Not Reported on Financial Statements
$-131,829
Revenue Not Reported on Form 990
$1,082,172
Other Revenue Adjustments
$-131,829
Total Revenue per Audited Statements
$18,862,523
Total Revenue per Form 990
$17,648,522
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$13,131,000
Salaries, Compensation, and Employee Benefits$2,458,165
Other Expenses$1,501,091
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$13,131,000--$13,131,000
Other Salaries and Wages$797,712$265,904-$1,063,616
Current Officers, Directors, Trustees, and Key Employees$673,476$224,492-$897,968
All Other Expenses$393,196$131,065-$524,261
Other Employee Benefits$267,841$89,280-$357,121
Fees for Services Accounting-$195,373-$195,373
Fees for Services Legal$182,622--$182,622
Travel$141,021--$141,021
Payroll Taxes$104,595$34,865-$139,460
Depreciation Depletion-$124,572-$124,572
Advertising$93,473--$93,473
Occupancy-$60,676-$60,676
Other Expenses$91,599$23,485-$23,485
Conferences and Meetings$17,865--$17,865
Interest-$5,775-$5,775
Office Expenses$4,279$1,426-$5,705
Information Technology$4,131--$4,131
Total Functional Expenses$15,902,810$1,187,446$0$17,090,256

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$18,304,257
Expenses per Audited Statements$17,090,256
Total Expenses per Form 990$17,090,256
Expenses Not Reported on Form 990$1,214,001
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nashville Entrepreneur CenterNashville, TN-Network Partners, Survey Stipend, Intern Stipend$421,000
Fc Renew LLCKnoxville, TN-Sbir, Grant Consulting, Intern Stipend$308,000
Robotic Technologies of Tennessee LLCCookeville, TN-Sbir, Intern Stipend$308,000
Endeavor Composites IncKnoxville, TN-Sbir, Intern Stipend$304,000
Perseus MaterialsKnoxville, TN-Sbir, Intern Stipend$304,000
Reliable MicrosystemsFranklin, TN-Sbir, Intern Stipend$304,000
Skynano LLCKnoxville, TN-Sbir, Intern Stipend$304,000
Ultrasonic Technology SolutionsKnoxville, TN-Sbir, Intern Stipend$304,000
Winter Innovations IncKnoxville, TN-Sbir, Intern Stipend$304,000
Yaya ScientificFranklin, TN-Sbir, Intern Stipend$304,000
Arena Labs IncNashville, TN-Sbir, Grant Consulting, Intern Stipend$302,175
Amalgamated Vision LLCBrentwood, TN-Sbir, Intern Stipend$302,000
Aviation Resources and Consulting Services LLCCookeville, TN-Sbir$300,000
Covert Defenses LLCWest Lafayette, IN-Sbir$300,000
DaxorOak Ridge, TN-Sbir$300,000
Eden Concepts LLCKnoxville, TN-Sbir$300,000
Endotheia IncNashville, TN-Sbir$300,000
Enexor Energy LLCFranklin, TN-Sbir$300,000
Immuno Technologies IncMemphis, TN-Sbir$300,000
Infusense CorpNashville, TN-Sbir$300,000
NeurodyneGermantown, TN-Sbir$300,000
Statheros LLCKnoxville, TN-Sbir$300,000
Tavo Biotherapeutics IncMemphis, TN-Sbir$300,000
VibronyxFranklin, TN-Sbir$300,000
Volumetrix LLCNashville, TN-Sbir$300,000
Sync Space Entrepreneur CenterKingsport, TN-Network Partners, Survey Stipend, Intern Stipend$278,000
Knoxville Entrepreneurship CenterKnoxville, TN-Network Partners, Survey Stipend$276,000
ThecoJackson, TN-Network Partners, Survey Stipend, Intern Stipend$255,000
Upper Cumberland Entrepreneurial FoundationCookeville, TN-Network Partners, Survey Stipend, Intern Stipend$255,000
Vibrant MemphisMemphis, TN-Network Partners, Survey Stipend, Intern Stipend$253,000
ColabChattanooga, TN-Network Partners, Survey Stipend$252,000
Tennessee Advanced Energy Business CouncilKnoxville, TN-Network Partners, Survey Stipend$236,000
Tennsmart Consortium IncOak Ridge, TN-Network Partners, Survey Stipend$201,000
Aglaunch InitiativeMemphis, TN-Network Partners$200,000
Biotn Foundation IncNashville, TN-Network Partners$200,000
CrosslinkCrossville, TN-Sbir$197,121
Healing Innovations IncNashville, TN-Sbir$187,000
Northwest Tennessee Entrepreneurship IncDyersburg, TN-Network Partners, Survey Stipend, Intern Stipend$178,000
Proof ProgramsChattanooga, TN-Network Partners, Survey Stipend, Intern Stipend$153,000
The University of MemphisMemphis, TN-Ttac$106,000
Meharry Medical CollegeNashville, TN-Ttac$105,000
Tennessee State UniversityNashville, TN-Ttac$105,000
Tennessee Technological UniversityCookeville, TN-Ttac$105,000
Whisper Aero IncCrossville, TN-Sbir, Intern Stipend$104,000
Seak Therapeutics LLCMemphis, TN-Sbir, Grant Consulting$101,000
Ce-ri-ss Materials LLCKnoxville, TN-Sbir$100,000
Cinco Research CorporationElizabethton, TN-Sbir$100,000
Decode Health IncNashville, TN-Sbir$100,000
Earthen IncChandler, AZ-Sbir$100,000
EonixKnoxville, TN-Sbir$100,000
Espin Technologies IncChattanooga, TN-Sbir$100,000
Glanris IncMemphis, TN-Sbir$100,000
Holocene Climate CorporationKnoxville, TN-Sbir$100,000
Oak Ridge Therapeutic Discovery Orrxd LLCMemphis, TN-Sbir$100,000
Pedia-doseGallatin, TN-Sbir$100,000
Sentinel Devices LLCKnoxville, TN-Sbir$100,000
Veracity Nuclear LLCLenoir City, TN-Sbir$100,000
Etsu Research CorporationJohnson City, TN-Ttac$80,000
Middle Tennessee State UniversityMurfreesboro, TN-Ttac$80,000
Safire Technology Group IncTysons, VA-Sbir, Intern Stipend$78,870
Tremonti Consulting LLCReston, VA-Ttac$49,500
East Tennessee State UniversityJohnson City, TN-Ttac$25,000
OnriseKnoxville, TN-Intern Stipend, 3686 Pitch Winner Prize$14,000
Bbc Entrepreneurial Training & ConsultingAnn Arbor, MI-Grant Consulting$12,500
Vanderbilt UniversityNashville, TN-Mid-south Reach Hub Award$9,916
Adele Health IncNashville, TN-Grant Consulting, Intern Stipend, Sxsw Participation Stipend$6,500
Auros PharmaKingsport, TN-Grant Consulting$6,000
BethanamistCorryton, TN-Grant Consulting$6,000
Life Science TennesseeNashville, TN-Network Partners, Survey Stipend$6,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$895,109
Fundraising Gross Income$180,229
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Tennessee House$245,000-$490,350-
3686 Festival$290,229$180,229$359,128$-178,899
Total Events$535,229$180,229$895,109$-714,880
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Tn Department of Economic Development$32,834,880
Lease Liability$395,919
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Several members of the governing board of directors are appointed by the governor of the state of tennessee and the speakers of the house and senate of the tennessee state legislature.

Form 990, Part VI, Section A, Line 7B

Certain agreements and contracts must receive prior written approval by the tennessee department of economic and community development.

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

The full board receives a copy of the 990 for their review prior to filing.

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

Each officer, board member or key person is required to sign a conflict of interest statement each year. If a conflict arises, the person will recuse him or herself from the vote on the matter.

Form 990, Part VI, Section B, Line 15

The executive committee of the board of directors meets annually to perform a performance review of the chief executive officer (ceo). Final compensation is determined by private negotiation between the ceo and the executive committee. All other employee compensation is determined by the ceo. The ceo bases bonuses on company goals and personal accomplishments per the annual personal development plan for each employee. All discussions are documented.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Tennessee Technology Development Corp
EIN
62-1765738
Phone
6159912809
Address
601 TAYLOR PLACE 101, NASHVILLE, TN 37208
Doing Business As
Launch Tennessee

Signing Officer

Name
Lindsey Cox
Title
President & CEO
Phone
6159912809
Signed
2026-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Cox
Formed
1998
Legal Domicile
Tn
Voting Board Members
19
Independent Board Members
19
Employees
27
Volunteers
0

Preparer

Firm
Calvetti Ferguson
Address
1221 BROADWAY SUITE 2000, NASHVILLE, TN 37203
Preparer
Kelly Rangel
Phone
6154518041
Supplemental Narrative

Additional Explanations

Section 1.263(A)-1(F) De Minimis Safe Harbor Election

Tennessee technology development corp. D/b/a launch tennessee 601 taylor place nashville, tn 37208 employer identification number: 62-1765738 for the year ending june 30, 2025 tennessee technology development corp. D/b/a launch tennessee is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).

FORM 990, PART XI, LINE 9:

ROUNDING 1.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING EXPENSES

PART XI, LINE 4B - OTHER ADJUSTMENTS:

LOSS ON SALE OF ASSETS

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses loss on sale of assets

PART X, LINE 2:

Launchtn is exempt from federal income taxes under internal revenue code section 501(c)(3). Launchtn accounts for the effect of any uncertain tax positions based on a more likely than not threshold to the recognition of the tax positions being sustained based on the technical merits of the position under examination by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a cumulative probability assessment that aggregates the estimated tax liability for all uncertain tax positions. Tax positions for launchtn include, but are not limited to, the tax-exempt status and determination of whether income is subject to unrelated business income tax. Launchtn has determined that such tax positions do not result in an uncertainty requiring recognition.

Raw XML AppendixShowing 400 of 1,598 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/MissionDesc0LAUNCH TENNESSEE IS A 501C3 THAT SUPPORTS THE STARTUP ECOSYSTEM THROUGH CAPITAL, CONNECTIONS AND COMMERCIALIZATION. AS A PUBLIC-PRIVATE PARTNERSHIP, WE ARE UNIQUELY POSITIONED TO PROVIDE DIRECT INVESTMENT, WHILE ALSO SUPPORTING COLLABORATION AMONG FOUNDERS, INVESTORS, RESEARCHERS, THE PRIVATE SECTOR AND GOVERNMENT.
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IRS990/ProgSrvcAccomActy2Grp/Desc0WE FULFILL OUR MISSION IN PART BY PROVIDING FUNDING AND CONNECTIONS TO SEVEN REGIONAL ENTREPRENEUR CENTER PARTNERS LOCATED IN MEMPHIS, JACKSON, NASHVILLE, COOKEVILLE, CHATTANOOGA, KNOXVILLE, AND THE TRI-CITIES AND SIX STATEWIDE INDUSTRY PARTNERS IN INDUSTRIES WHICH ADDVALUE TO THE TENNESSEE ECONOMY INCLUDING ADVANCED ENERGY, AG TECH, CONSUMER PACKAGED GOODS, FINANCIAL TECHNOLOGIES, LIFE SCIENCES, AND MOBILITY.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt03131000

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