Civic Intelligence

Project Grad Knoxville Inc

990 • Fiscal year 2022 • EIN 62-1865303

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 29, 2022

505 Summer Place Utt 385Knoxville, TN 37902

(865) 370-2300

Siviq Scores

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

Liabilities / Assets

49th percentile

0.12x

Higher debt load relative to assets than 49% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

45th percentile

0.13x

Higher debt load relative to revenue than 45% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

76th percentile

26%

Higher net margin than 76% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

75th percentile

$194,741

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

3rd percentile

-28%

Faster asset growth than 3% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

21st percentile

-16%

Faster revenue growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$6,393,317

Down $2,441,667 (-28%) from 2021

Net Assets

Up

$5,646,471

Up $1,044,852 (+23%) from 2021

Liabilities

Down

$746,846

Down $3,486,519 (-82%) from 2021

Revenue

Down

$5,852,579

Down $1,115,726 (-16%) from 2021

Expenses

Down

$4,321,414

Down $644,019 (-13%) from 2021

Net Income

Down

$1,531,165

Down $471,707 (-24%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $11,566,551Liabilities 2011: $11,375,384Net Assets 2011: $191,1672011Assets 2012: $11,595,520Liabilities 2012: $11,274,829Net Assets 2012: $320,6912012Assets 2013: $10,734,805Liabilities 2013: $11,027,935Net Assets 2013: -$293,1302013Assets 2014: $10,884,652Liabilities 2014: $11,081,696Net Assets 2014: -$197,0442014Assets 2015: $11,163,265Liabilities 2015: $11,050,245Net Assets 2015: $113,0202015Assets 2016: $11,418,653Liabilities 2016: $10,847,703Net Assets 2016: $570,9502016Assets 2017: $6,249,599Liabilities 2017: $5,849,689Net Assets 2017: $399,9102017Assets 2018: $3,814,100Liabilities 2018: $3,498,138Net Assets 2018: $315,9622018Assets 2019: $3,874,518Liabilities 2019: $3,497,730Net Assets 2019: $376,7882019Assets 2020: $6,928,634Liabilities 2020: $4,335,890Net Assets 2020: $2,592,7442020Assets 2021: $8,834,984Liabilities 2021: $4,233,365Net Assets 2021: $4,601,6192021Assets 2022: $6,393,317Liabilities 2022: $746,846Net Assets 2022: $5,646,4712022Assets 2023: $6,543,232Liabilities 2023: $645,871Net Assets 2023: $5,897,3612023Assets 2024: $7,314,957Liabilities 2024: $423,986Net Assets 2024: $6,890,9712024Assets 2025: $7,855,957Liabilities 2025: $440,900Net Assets 2025: $7,415,0572025

Highlighted filing

2022

Assets$6,393,317
Liabilities$746,846
Net Assets$5,646,471

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,090,472Expenses 2011: $3,125,854Net Income 2011: -$1,035,3822011Revenue 2012: $2,274,794Expenses 2012: $3,194,629Net Income 2012: -$919,8352012Revenue 2013: $2,563,944Expenses 2013: $3,113,380Net Income 2013: -$549,4362013Revenue 2014: $2,055,593Expenses 2014: $2,131,706Net Income 2014: -$76,1132014Revenue 2015: $1,974,014Expenses 2015: $1,828,985Net Income 2015: $145,0292015Revenue 2016: $1,934,565Expenses 2016: $1,730,715Net Income 2016: $203,8502016Revenue 2017: $1,823,020Expenses 2017: $1,953,160Net Income 2017: -$130,1402017Revenue 2018: $1,861,107Expenses 2018: $1,926,990Net Income 2018: -$65,8832018Revenue 2019: $1,726,319Expenses 2019: $1,806,377Net Income 2019: -$80,0582019Revenue 2020: $1,500,018Expenses 2020: $1,716,578Net Income 2020: -$216,5602020Revenue 2021: $6,968,305Expenses 2021: $4,965,433Net Income 2021: $2,002,8722021Revenue 2022: $5,852,579Expenses 2022: $4,321,414Net Income 2022: $1,531,1652022Revenue 2023: $4,923,269Expenses 2023: $4,671,919Net Income 2023: $251,3502023Revenue 2024: $5,911,295Expenses 2024: $4,917,517Net Income 2024: $993,7782024Revenue 2025: $3,550,137Expenses 2025: $3,026,219Net Income 2025: $523,9182025

Highlighted filing

2022

Revenue$5,852,579
Expenses$4,321,414
Net Income$1,531,165
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 29, 2022
Return Version
2021v4.0
Gross Receipts
$5,859,701
Mission and Program Overview

Mission

To help ensure a quality public school education for heart of knoxville students that equips and encourages youth to graduate from high school and to succeed in college or post-secondary vocational education.

To be a catalyst for the transformation of public education by investing in and advocating for innovative programs, partnerships, and initiatives to achieve excellent outcomes for all students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,000,545$3,528,308▲ $2,527,763
Cash and Non-Interest-Bearing Accounts$3,251,308$1,721,435▼ $1,529,873
Pledges and Grants Receivable$921,079$837,731▼ $83,348
Investments Other Securities$3,605,523$271,209▼ $3,334,314
Prepaid Expenses and Deferred Charges$31,277$30,424▼ $853
Accounts Receivable$1,158$3,087▲ $1,929
Land, Buildings, and Equipment, Net$23,094$1,123▼ $21,971
Total Assets$8,834,984$6,393,317▼ $2,441,667
Other Assets Total$1,000--
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,335,000--
Accounts Payable and Accrued Expenses$898,365$746,846▼ $151,519
Total Liabilities$4,233,365$746,846▼ $3,486,519
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,928,252$4,603,966▲ $675,714
Net Assets With Donor Restrictions$673,367$1,042,505▲ $369,138
Total Net Assets Fund Balance$4,601,619$5,646,471▲ $1,044,852
Total Liabilities and Net Assets / Fund Balance$8,834,984$6,393,317▼ $2,441,667

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,123$19,298$20,421
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Chris LetsosCEO$165,844$38,386$194,741
Stephanie JinkinsCFO$120,794$23,575$153,858

Board Members and Trustees

NameTitle
Larsen JayBoard Chair
Crissy HaslamVice Chair
Anthony WiseBoard Member
Claudia CabelleroBoard Member
Darris UptonBoard Member
Glenn JacobsBoard Member
Indya KincannonBoard Member
Jon RysewykBoard Member
Kristi KristyBoard Member
Markus JacksonBoard Member
Randy BoydBoard Member
Scott BroylesBoard Member
Susan BrownBoard Member
Leroy ThompsonSecretary
Carol CardenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,857,389
Program Service Revenue
$0
Investment Income
$-4,810
Other Revenue
$0
All Other Contributions
$2,003,489
Change in Net Assets
$1,531,165

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,852,579
Revenue Not Reported on Form 990
$535,473
Total Revenue per Audited Statements
$6,388,052
Total Revenue per Form 990
$5,852,579
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,466,187
Other Expenses$1,855,227
Total Fundraising Expense$45,159
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,440,402$201,246-$1,641,648
Fees for Services Other$347,041$96,304-$443,345
Current Officers, Directors, Trustees, and Key Employees-$384,071-$384,071
Other Employee Benefits$181,566$41,841-$223,407
Payroll Taxes$109,639$37,739-$147,378
Information Technology$59,175$23,186$348$82,709
Pension Plan Contributions$60,729$8,954-$69,683
All Other Expenses$25,633$17,674$14,752$58,059
Occupancy$44,969$1,976-$46,945
Insurance$18,339$3,261-$21,600
Other Expenses$67,000$20,606$30,059$20,606
Depreciation Depletion$3,944$10,905-$14,849
Conferences and Meetings$14,490--$14,490
Travel$8,171$3,459-$11,630
Total Functional Expenses$3,424,947$851,308$45,159$4,321,414

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,856,700
Expenses per Audited Statements$4,321,414
Total Expenses per Form 990$4,321,414
Expenses Not Reported on Form 990$535,286
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
No
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed and approved by the finance committee. It is then submitted to the board of directors for approval prior to filing.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Knox Education Foundation
EIN
62-1865303
Phone
8653702300
Address
505 SUMMER PLACE UTT 385, KNOXVILLE, TN 37902

Signing Officer

Name
Jerry Askew
Title
Interim CEO
Phone
8653702293
Signed
2022-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Askew
Formed
2001
Legal Domicile
Tn
Voting Board Members
15
Independent Board Members
15
Employees
58

Preparer

Firm
Brown Jake & Mcdaniel Pc
Address
2607 KINGSTON PIKE SUITE 110, KNOXVILLE, TN 37919-3336
Preparer
James E Booher CPA
Phone
8656378600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional fees 56,216 30,040 0 contract labor 290,825 66,264 0 total 347,041 96,304 0

Form 990, Part XI, Line 9

Loss on disposal of assets 7,122 loss on disposal of assets -7,122

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and did not conduct any unrelated business activities. Therefore, the foundation has made no provision for federal income taxes in the accompanying financial statements. The foundation's forms 990 are subject to examination by the taxing authorities. No periods are under examination, and open return years per statute are for the years ended june 30, 2019 through june 30, 2022.

Schedule D, Page 4, Part XI, Line 2D

Loss on disposal of assets 7,122

Schedule D, Page 4, Part XII, Line 2D

Loss on disposal of assets 7,122

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IRS990/ProgSrvcAccomActy2Grp/Desc0PROJECT GRAD KNOXVILLE IS A SCHOOL-EMBEDDED PROGRAM AT AUSTIN-EAST AND FULTON HIGH SCHOOLS THAT OFFERS DIRECT SUPPORT, INTERVENTIONS, TOOLS, OPPORTUNITIES, AND COACHING. A 4,000 SCHOLARSHIP IS EARNED BY QUALIFYING STUDENTS WHO ENROLL IN ACCREDITED POSTSECONDARY INSTITUTIONS. GRAD PROVIDES ACCESS TO RESOURCES, EXPERIENCES, AND GUIDANCE THAT WILL CONTRIBUE TO INCREASED HIGH SCHOOL GRADUATION RATES, POSTSECONDARY ENROLLMENT AND COMPLETION, ADDRESSING OBSTACLES ALONG THE WAY. INTENTIONAL FOCUS IS GIVEN TO STUDENTS FROM DISADVANTAGED CIRCUMSTANCES, FROM COMMUNITIES OF CONCENTRATED CHALLENGES, AND THOSE UNDERREPRESENTED IN HIGHER EDUCATION.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01156597
IRS990/ProgSrvcAccomActy3Grp/Desc0SPECIAL PROJECTS CONTAINS INITIATIVES AND PROGRAMS THAT ARE PILOTS TO EVALUATE LONG TERM VIABILITY AND IMPACT. THESE SPECIAL PROJECTS FOCUS ON FOUNDATIONAL ACADEMIC SKILLS, EFFECTIVE EDUCATORS, PATHWAYS AND PIPELINES, AND SUCCESS FOR ALL STUDENTS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt034,426
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT CONDUCT ANY UNRELATED BUSINESS ACTIVITIES. THEREFORE, THE FOUNDATION HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION'S FORMS 990 ARE SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. NO PERIODS ARE UNDER EXAMINATION, AND OPEN RETURN YEARS PER STATUTE ARE FOR THE YEARS ENDED JUNE 30, 2019 THROUGH JUNE 30, 2022.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON DISPOSAL OF ASSETS 7,122
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON DISPOSAL OF ASSETS 7,122
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.86$0.44$7.42$3.55$3.03$0.52
2024Detailed filing. Detailed filing data is available for this year.$7.31$0.42$6.89$5.91$4.92$0.99
2023Detailed filing. Detailed filing data is available for this year.$6.54$0.65$5.90$4.92$4.67$0.25
2022Detailed filing. Detailed filing data is available for this year.$6.39$0.75$5.65$5.85$4.32$1.53
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.83$4.23$4.60$6.97$4.97$2.00
2020Summary only. Only limited summary data is available for this year.$6.93$4.34$2.59$1.50$1.72$0.22
2019Detailed filing. Detailed filing data is available for this year.$3.87$3.50$0.38$1.73$1.81$0.08
2018Detailed filing. Detailed filing data is available for this year.$3.81$3.50$0.32$1.86$1.93$0.07
2017Detailed filing. Detailed filing data is available for this year.$6.25$5.85$0.40$1.82$1.95$0.13
2016Detailed filing. Detailed filing data is available for this year.$11.4$10.8$0.57$1.93$1.73$0.20
2015Summary only. Only limited summary data is available for this year.$11.2$11.1$0.11$1.97$1.83$0.15
2014Summary only. Only limited summary data is available for this year.$10.9$11.1$0.20$2.06$2.13$0.08
2013Summary only. Only limited summary data is available for this year.$10.7$11.0$0.29$2.56$3.11$0.55
2012Summary only. Only limited summary data is available for this year.$11.6$11.3$0.32$2.27$3.19$0.92
2011Summary only. Only limited summary data is available for this year.$11.6$11.4$0.19$2.09$3.13$1.04
Peer Organizations

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