Civic Intelligence

Stones River Development Corporation

EIN 82-3187371 • 501(c)3 • Murfreesboro, TN

Profile

Assist low and moderate income individuals & their familes in obtaining adequate housing which they would not be able to afford without assistance or support. Finance, construct, lease, operate and act as the developer of affordable housing. Provide supportive services and community development activities to benefit low and moderate income individuals and families.

415 N Maple StreetMurfreesboro, TN 37130

n/A

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

40th percentile

0.15x

Higher debt load relative to revenue than 40% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

4th percentile

-89%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $10M-$25M 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

56th percentile

6.9%

Faster asset growth than 56% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

1st percentile

-90%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Up

$20,589,124

Up $1,327,616 (+6.9%) from 2024

Liabilities

Down

$28,593

Down $37,692 (-57%) from 2024

Net Assets

Up

$20,560,531

Up $1,365,308 (+7.1%) from 2024

Revenue

Down

$189,803

Down $1,657,217 (-90%) from 2024

Expenses

Up

$358,319

Up $92,685 (+35%) from 2024

Net Income

Down

-$168,516

Down $1,749,902 (-111%) from 2024

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2018: $240,218Liabilities 2018: $0Net Assets 2018: $240,2182018Assets 2019: $17,193,458Liabilities 2019: $3,801Net Assets 2019: $17,189,6572019Assets 2020: $17,856,482Liabilities 2020: $4,302Net Assets 2020: $17,852,1802020Assets 2021: $18,671,147Liabilities 2021: $95,026Net Assets 2021: $18,576,1212021Assets 2022: $15,999,619Liabilities 2022: $23,798Net Assets 2022: $15,975,8212022Assets 2023: $17,629,806Liabilities 2023: $15,969Net Assets 2023: $17,613,8372023Assets 2024: $19,261,508Liabilities 2024: $66,285Net Assets 2024: $19,195,2232024Assets 2025: $20,589,124Liabilities 2025: $28,593Net Assets 2025: $20,560,5312025

Highlighted filing

2025

Assets$20,589,124
Liabilities$28,593
Net Assets$20,560,531

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2018: $240,218Expenses 2018: $0Net Income 2018: $240,2182018Revenue 2019: $16,960,713Expenses 2019: $11,274Net Income 2019: $16,949,4392019Revenue 2020: $961,908Expenses 2020: $299,385Net Income 2020: $662,5232020Revenue 2021: $885,921Expenses 2021: $161,980Net Income 2021: $723,9412021Revenue 2022: $139,146Expenses 2022: $2,739,446Net Income 2022: -$2,600,3002022Revenue 2023: $1,798,597Expenses 2023: $160,581Net Income 2023: $1,638,0162023Revenue 2024: $1,847,020Expenses 2024: $265,634Net Income 2024: $1,581,3862024Revenue 2025: $189,803Expenses 2025: $358,319Net Income 2025: -$168,5162025

Highlighted filing

2025

Revenue$189,803
Expenses$358,319
Net Income-$168,516

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Jul 23, 2025
Return Version
2024v5.2
Gross Receipts
$189,803
Mission and Program Overview

Mission

Assist low and moderate income individuals & their familes in obtaining adequate housing which they would not be able to afford without assistance or support. Finance, construct, lease, operate and act as the developer of affordable housing. Provide supportive services and community development activities to benefit low and moderate income individuals and families.

Assist low and moderate income individuals & their familes in obtaining adequate housing which they would not be able to afford without assistance or support. Finance, construct, lease, operate and act as the developer of affordable housing. Provide suppotive services and community development activities to benefit low and moderate income individuals and families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$10,330,494$17,164,796▲ $6,834,302
Investments Other Securities$6,637,048$2,178,454▼ $4,458,594
Land, Buildings, and Equipment, Net$835,847$804,694▼ $31,153
Accounts Receivable$1,421,620$404,589▼ $1,017,031
Cash and Non-Interest-Bearing Accounts$33,175$36,291▲ $3,116
Prepaid Expenses and Deferred Charges$3,024--
Total Assets$19,261,508$20,589,124▲ $1,327,616
Other Assets Total$300$300→ $0
Liabilities
Accounts Payable and Accrued Expenses$57,602$20,746▼ $36,856
Other Liabilities$8,449$7,400▼ $1,049
Deferred Revenue$234$447▲ $213
Total Liabilities$66,285$28,593▼ $37,692
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,195,223$20,560,531▲ $1,365,308
Total Net Assets Fund Balance$19,195,223$20,560,531▲ $1,365,308
Total Liabilities and Net Assets / Fund Balance$19,261,508$20,589,124▲ $1,327,616

Asset Categories

AssetBook ValueDepreciationBasis
Land$557,370-$557,370
Buildings$247,324$234,157$481,481
Other Securities$2,178,454--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charlie L TeasleyChairman
Betty HordVice Chairperson
Mark CrockerDirector
Michelle ThomasDirector
Sonya WrightDirector
L Thomas RoweExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$99,101
Investment Income
$92,655
Other Revenue
$-1,953
Change in Net Assets
$-168,516
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,730
Salaries, Compensation, and Employee Benefits$126,589
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$78,746$13,896-$92,642
Other Salaries and Wages$73,525$12,975-$86,500
Other Employee Benefits$34,076$6,013-$40,089
Depreciation Depletion$24,087$4,251-$28,338
Interest$17,079$3,014-$20,093
Fees for Services Legal$12,169$2,147-$14,316
Fees for Services Accounting$5,904$1,042-$6,946
Insurance$4,580$808-$5,388
Travel$3,907$689-$4,596
Office Expenses$2,143$378-$2,521
Conferences and Meetings$1,191$210-$1,401
Information Technology$856$151-$1,007
Other Expenses$68$640-$68
Total Functional Expenses$312,105$46,214$0$358,319
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$7,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
Yes
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

Review by cfo for approval; each board member will receive a copy.

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

Annual memos are distributed to document compliance for the year.

Form 990, Part VI, Section B, Line 15B

Stones river contracts with mha for staff.

Form 990, Part VI, Section C, Line 19

Upon written request the organization will make available the governing documents, policies and/or financial statements

Filing and Contact Details

Filer

Filer Name
Stones River Development Corporation
EIN
82-3187371
Phone
6158939414
Address
415 N MAPLE STREET, MURFREESBORO, TN 37130

Signing Officer

Name
Kris Lord
Title
COO
Phone
6158939414
Signed
2025-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charlie L Teasley
Formed
2017
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Smith Marion & Co
Address
1940 ORANGE TREE LANE SUITE 100, REDLANDS, CA 92374
Preparer
Carlos Carazo
Phone
9093072323
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted services: program service expenses 78,746. Management and general expenses 13,896. Fundraising expenses 0. Total expenses 92,642.

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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt099101
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt096186
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt095569
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt095300
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt094245
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0480401
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt092655
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0523633
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0250315
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt043816
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0250375
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01160794
IRS990ScheduleA/InvestmentIncomeCYPct00.23870
IRS990ScheduleA/InvestmentIncomePYPct00.27450
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0862
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0145
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0405
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt030
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt020
IRS990ScheduleA/OtherIncome509Grp/TotalAmt01462
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.76100
IRS990ScheduleA/PublicSupportPY509Pct00.72540
IRS990ScheduleA/PublicSupportTotal509Amt03701046
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt099101
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01323242
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01547877
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt095300
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0635526
IRS990ScheduleA/Total509Grp/TotalAmt03701046
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0192618
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01847020
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01798597
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0139146
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0885921
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04863302
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0247324
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0234157
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0481481
IRS990ScheduleD/LandGrp/BookValueAmt0557370
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0557370
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07400
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02178454
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS AT LGIP
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0804694
IRS990ScheduleD/TotalBookValueSecuritiesAmt02178454
IRS990ScheduleD/TotalLiabilityAmt07400
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0191569
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt025375
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt03849
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0L THOMAS ROWE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0220793
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW BY CFO FOR APPROVAL; EACH BOARD MEMBER WILL RECEIVE A COPY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL MEMOS ARE DISTRIBUTED TO DOCUMENT COMPLIANCE FOR THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2STONES RIVER CONTRACTS WITH MHA FOR STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON WRITTEN REQUEST THE ORGANIZATION WILL MAKE AVAILABLE THE GOVERNING DOCUMENTS, POLICIES AND/OR FINANCIAL STATEMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 78,746. MANAGEMENT AND GENERAL EXPENSES 13,896. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,642.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MURFREESBORO HOUSING AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0823187371
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0GOVT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0415 N MAPLE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MURFREESBORO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd037130
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt044965
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt186500
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MURFREESBORO HOUSING AUTHORITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MURFREESBORO HOUSING AUTHORITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00

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