Civic Intelligence

Sevier County Partners in Progress Education Foundation

990 • Fiscal year 2023 • EIN 81-3367725

Jan 01, 2023 to Dec 31, 2023 • Filed on May 13, 2024

Organization ProfileWWW.SEVIERCOUNTYPIP.COM
321 Court AvenueSevierville, TN 37862

(865) 428-2212

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.01x

Higher debt load relative to assets than 43% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

47th percentile

0.01x

Higher debt load relative to revenue than 47% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

90th percentile

48%

Higher net margin than 90% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

70th percentile

$57,174

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 16.2% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

81st percentile

29%

Faster asset growth than 81% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

55th percentile

12%

Faster revenue growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$784,403

Up $174,164 (+29%) from 2022

Net Assets

Up

$779,524

Up $169,285 (+28%) from 2022

Liabilities

Up

$4,879

Up $4,879 from 2022

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin90th percentile

Revenue

Up

$353,505

Up $37,805 (+12%) from 2022

Expenses

Up

$184,220

Up $10,447 (+6.0%) from 2022

Net Income

Up

$169,285

Up $27,358 (+19%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$1.0M$500K$0Assets 2017: $249,252Liabilities 2017: $0Net Assets 2017: $249,2522017Assets 2018: $330,219Liabilities 2018: $0Net Assets 2018: $330,2192018Assets 2019: $384,038Liabilities 2019: $0Net Assets 2019: $384,0382019Assets 2020: $398,231Liabilities 2020: $0Net Assets 2020: $398,2312020Assets 2021: $468,312Liabilities 2021: $0Net Assets 2021: $468,3122021Assets 2022: $610,239Liabilities 2022: $0Net Assets 2022: $610,2392022Assets 2023: $784,403Liabilities 2023: $4,879Net Assets 2023: $779,5242023Assets 2024: $921,194Liabilities 2024: $0Net Assets 2024: $921,1942024

Highlighted filing

2023

Assets$784,403
Liabilities$4,879
Net Assets$779,524
Open 2023 Filing

Operations Trend

Revenue Growth55th percentile

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

$400K$300K$200K$100K$0Revenue 2017: $337,119Expenses 2017: $87,867Net Income 2017: $249,2522017Revenue 2018: $267,613Expenses 2018: $186,646Net Income 2018: $80,9672018Revenue 2019: $266,232Expenses 2019: $212,413Net Income 2019: $53,8192019Revenue 2020: $269,183Expenses 2020: $254,990Net Income 2020: $14,1932020Revenue 2021: $327,132Expenses 2021: $257,051Net Income 2021: $70,0812021Revenue 2022: $315,700Expenses 2022: $173,773Net Income 2022: $141,9272022Revenue 2023: $353,505Expenses 2023: $184,220Net Income 2023: $169,2852023Revenue 2024: $335,618Expenses 2024: $193,948Net Income 2024: $141,6702024

Highlighted filing

2023

Revenue$353,505
Expenses$184,220
Net Income$169,285
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 13, 2024
Return Version
2023v5.0
Gross Receipts
$372,762
Mission and Program Overview

Mission

To benefit the education endeavors of the young people of sevier county.

The foundation was created to benefit the education endeavors of the young people of sevier county. The scholarship fund is used to assist area high school students with tuition for dual enrollment classes at walters state community college and tuition assistance for studends pursuing a four-year degree at east tennessee state university in sevierville.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$610,239$784,403▲ $174,164
Total Assets$610,239$784,403▲ $174,164
Liabilities
Accounts Payable and Accrued Expenses-$4,879-
Total Liabilities$0$4,879▲ $4,879
Net Assets / Fund Balance
Net Assets With Donor Restrictions$603,100$776,695▲ $173,595
Net Assets Without Donor Restrictions$7,139$2,829▼ $4,310
Total Net Assets Fund Balance$610,239$779,524▲ $169,285
Total Liabilities and Net Assets / Fund Balance$610,239$784,403▲ $174,164
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Janice BettisExecutive DiFT$57,174$57,174

Board Members and Trustees

NameTitle
Linda OglePresident
Bill CarrollBoard Direct
Allen NewtonBoard Member
Amanda CatonBoard Member
David WearBoard Member
Doug SwaggertyBoard Member
Elizabeth UrquhartBoard Member
Jerry HuskeyBoard Member
Kevin BlalockBoard Member
Larry WatersBoard Member
Mike WernerBoard Member
Robbie FoxBoard Member
Emily KileSecretary
David OgleTreasurer
Jim RuleVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$348,232
Program Service Revenue
$0
Investment Income
$14,798
Other Revenue
$-9,525
All Other Contributions
$42,802
Change in Net Assets
$169,285

Audited Revenue Reconciliation

Revenue per Audited Statements
$353,505
Revenue Not Reported on Form 990
$16,533
Total Revenue per Audited Statements
$370,038
Total Revenue per Form 990
$353,505
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$110,291
Salaries, Compensation, and Employee Benefits$61,548
Other Expenses$12,381
Total Fundraising Expense$9,828
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$110,291--$110,291
Current Officers, Directors, Trustees, and Key Employees$37,163$11,435$8,576$57,174
Payroll Taxes$2,843$875$656$4,374
Office Expenses$2,404$1,772$148$4,324
Fees for Services Accounting-$2,450-$2,450
Insurance-$2,225-$2,225
Other Expenses$171$358$448$171
All Other Expenses-$30-$30
Total Functional Expenses$152,872$21,520$9,828$184,220

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$200,753
Expenses per Audited Statements$184,220
Total Expenses per Form 990$184,220
Expenses Not Reported on Form 990$16,533
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$19,257
Fundraising Gross Income$9,732
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Mayors Lunch$106,500-$186-
Scholarship Sho$90,000-$5,008-
Total Events$207,662$9,732$19,257$-9,525
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
Audit committee
No
Backup withholding compliance
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 12C

“The executive committee shall regularly and consistently monitor and enforce compliance with this policy by reviewing annual statements and taking such other actions as are necessary for effective oversight.”

Form 990, Page 6, Part VI, Line 19

“AVAILIBLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Sevier County Partners in Progress
EIN
81-3367725
Phone
8654282212
Address
321 COURT AVENUE, SEVIERVILLE, TN 37862

Signing Officer

Name
Janice Bettis
Title
Executive Director
Phone
8654282212
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janice Bettis
Formed
2016
Legal Domicile
Tn
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
28

Preparer

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

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation was created to benefit the education endeavors of the young people of sevier county. The scholarship fund is used to assist area high school students with tuition for dual enrollment classes at walters state community college and tuition assistance for studends pursuing a four-year degree at east tennessee state university in sevierville.”

Form 990, Part XI, Line 9

“In kind donations 16,533 in kind donations -16,533”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation is classified as an organization exempt from income tax under internal revenue code section 501 (c)(3) as other than a private foundation and, accordingly, no provision for income taxes has been included in the accompanying financial statements. The foundation follows the provisions of financial accounting standards board (fasb) accounting standards codification (asc) 740-10-25. The foundation does not beleive there are any material uncertain tax positions and, accordingly, it will not recognize any liability for unrecognized tax benefits. For the year ended december 31, 2023, there were no interest or penalties recorded or included in its financial statements. The foundation's form 990, return of organization exempt from income tax, fore the years ended 2020 through 2023 are subject to examination by the irs, generally for three years after they were filed.”

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

“IN KIND DONATIONS 16,533”

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

“IN KIND DONATIONS 16,533”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt066,276
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS CLASSIFIED AS AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501 (C)(3) AS OTHER THAN A PRIVATE FOUNDATION AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION FOLLOWS THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10-25. THE FOUNDATION DOES NOT BELEIVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FOR THE YEAR ENDED DECEMBER 31, 2023, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN ITS FINANCIAL STATEMENTS. THE FOUNDATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FORE THE YEARS ENDED 2020 THROUGH 2023 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1IN KIND DONATIONS 16,533
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2IN KIND DONATIONS 16,533
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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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0EDUCATIONAL SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0164
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0MONITORING IS COMPLETED BY THE ADMISSIONS OFFICES AT WALTER STATE COMMUNITY COLLEGE - SEVIERVILLE AND EAST TENNESSEE STATE UNIVERSITY - SEVIERVILLE
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WAS CREATED TO BENEFIT THE EDUCATION ENDEAVORS OF THE YOUNG PEOPLE OF SEVIER COUNTY. THE SCHOLARSHIP FUND IS USED TO ASSIST AREA HIGH SCHOOL STUDENTS WITH TUITION FOR DUAL ENROLLMENT CLASSES AT WALTERS STATE COMMUNITY COLLEGE AND TUITION ASSISTANCE FOR STUDENDS PURSUING A FOUR-YEAR DEGREE AT EAST TENNESSEE STATE UNIVERSITY IN SEVIERVILLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE COMMITTEE SHALL REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING SUCH OTHER ACTIONS AS ARE NECESSARY FOR EFFECTIVE OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILIBLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IN KIND DONATIONS 16,533 IN KIND DONATIONS -16,533
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TotalEmployeeCnt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$784,403
Liabilities
$4,879
Net assets
$779,524
Revenue
$353,505
Expenses
$184,220
Net income
$169,285
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.21$0.00$9.21$3.36$1.94$1.42
2023Detailed filing. Detailed filing data is available for this year.$7.84$0.05$7.80$3.54$1.84$1.69
2022Detailed filing. Detailed filing data is available for this year.$6.10$0.00$6.10$3.16$1.74$1.42
2021Detailed filing. Detailed filing data is available for this year.$4.68$0.00$4.68$3.27$2.57$0.70
2020Detailed filing. Detailed filing data is available for this year.$3.98$0.00$3.98$2.69$2.55$0.14
2019Detailed filing. Detailed filing data is available for this year.$3.84$0.00$3.84$2.66$2.12$0.54
2018Detailed filing. Detailed filing data is available for this year.$3.30$0.00$3.30$2.68$1.87$0.81
2017Detailed filing. Detailed filing data is available for this year.$2.49$0.00$2.49$3.37$0.88$2.49