Civic Intelligence

4 Th Purpose Foundation

990 • Fiscal year 2021 • EIN 84-4085732

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization Profile4THPURPOSE.ORG
520 W Summit Hill Drive Suite 1101Knoxville, TN 37902

(865) 524-1223

Siviq Scores

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

Liabilities / Assets

55th percentile

0.22x

Higher debt load relative to assets than 55% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

7.73x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

5th percentile

-42%

Higher net margin than 5% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

86th percentile

36%

Faster asset growth than 86% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-95%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$13,985,074

Up $3,674,432 (+36%) from 2020

Net Assets

Up

$10,945,920

Up $642,306 (+6.2%) from 2020

Liabilities

Up

$3,039,154

Up $3,032,126 (+43144%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin5th percentile

Revenue

Down

$393,080

Down $8,179,630 (-95%) from 2020

Expenses

Up

$558,463

Up $446,110 (+397%) from 2020

Net Income

Down

-$165,383

Down $8,625,740 (-102%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$15M$10M$5.0M$0Assets 2019: $1,280,000Liabilities 2019: $0Net Assets 2019: $1,280,0002019Assets 2020: $10,310,642Liabilities 2020: $7,028Net Assets 2020: $10,303,6142020Assets 2021: $13,985,074Liabilities 2021: $3,039,154Net Assets 2021: $10,945,9202021Assets 2022: $12,575,228Liabilities 2022: $3,589,621Net Assets 2022: $8,985,6072022Assets 2023: $12,511,974Liabilities 2023: $2,874,750Net Assets 2023: $9,637,2242023Assets 2024: $12,834,331Liabilities 2024: $2,784,474Net Assets 2024: $10,049,8572024

Highlighted filing

2021

Assets$13,985,074
Liabilities$3,039,154
Net Assets$10,945,920
Open 2021 Filing

Operations Trend

Revenue Growth1st percentile

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

$10M$5.0M$0-$5.0MRevenue 2019: $1,280,000Expenses 2019: $0Net Income 2019: $1,280,0002019Revenue 2020: $8,572,710Expenses 2020: $112,353Net Income 2020: $8,460,3572020Revenue 2021: $393,080Expenses 2021: $558,463Net Income 2021: -$165,3832021Revenue 2022: $593,650Expenses 2022: $1,139,331Net Income 2022: -$545,6812022Revenue 2023: $610,284Expenses 2023: $636,092Net Income 2023: -$25,8082023Revenue 2024: $779,843Expenses 2024: $753,223Net Income 2024: $26,6202024

Highlighted filing

2021

Revenue$393,080
Expenses$558,463
Net Income-$165,383
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$1,916,741
Mission and Program Overview

Mission

A catalyst to make prison a place of transformation

4th purpose foundation was created to be a catalyst to make prison a place of transformation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$7,133,405$8,171,755▲ $1,038,350
Land, Buildings, and Equipment, Net$1,991,572$3,942,679▲ $1,951,107
Savings and Temporary Cash Investments$1,185,665$1,870,640▲ $684,975
Total Assets$10,310,642$13,985,074▲ $3,674,432
Liabilities
Mortgage Notes Payable Secured by Investment Property-$3,012,000-
Accounts Payable and Accrued Expenses$7,028$27,154▲ $20,126
Total Liabilities$7,028$3,039,154▲ $3,032,126
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,303,614$10,945,920▲ $642,306
Total Net Assets Fund Balance$10,303,614$10,945,920▲ $642,306
Total Liabilities and Net Assets / Fund Balance$10,310,642$13,985,074▲ $3,674,432

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$895,759-$268,815
Land$884,241-$231,185
Other Land Buildings$2,162,679--
Other Securities$8,171,755--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Josh SmithPresident &
Brett TollmanRegular Mana
Chrisi BollingerRegular Mana
Tony ParkerRegular Mana
Tracy SmithSpecial Mana

Highest Paid Contractors

ContractorServicesLocationCompensation
Elite Diversified Construction INCConstruction2918 E MAGNOLIA AVENUE SUITE 205, Knoxville, TN 37914$1,377,879
Sanders Pace Architecture LLCDesign Services514 W JACKSON AVENUE, Knoxville, TN 37902$146,120
Revenue and Support

Revenue Composition

Contributions and Grants
$32,926
Program Service Revenue
$0
Investment Income
$232,690
Other Revenue
$127,464
All Other Contributions
$32,926
Change in Net Assets
$-165,383
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$336,199
Salaries, Compensation, and Employee Benefits$222,264
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$181,222$9,537-$190,759
Fees for Services Other$124,924$31,165-$156,089
Office Expenses$33,472$5,843-$39,315
Travel$23,420--$23,420
Conferences and Meetings$19,352--$19,352
Other Employee Benefits$16,582$872-$17,454
Information Technology$15,096$794-$15,890
Payroll Taxes$13,349$702-$14,051
Advertising$12,501--$12,501
Occupancy$7,040$370-$7,410
Fees for Services Legal$1,145$4,582-$5,727
Other Expenses$5,202$51,288-$5,202
Fees for Service Investment Mgmnt Fees-$5-$5
Total Functional Expenses$453,305$105,158$0$558,463
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
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Josh smith tracy smith chair manager family relationship”

Form 990, Page 6, Part VI, Line 8B

“There were no committees.”

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

“The chief financial officer of east tennessee foundation reviews the form 990 and forwards a copy to all 4th purpose foundation board members via email prior to filing. The complete form 990 is also sent to the president and chair of 4th purpose foundation for review and signature.”

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

“Officers and directors with a conflict of interest on an issue on a meeting agenda are asked to disclose the conflict at the meeting and to recuse themselves from participation in discussion and voting on that item; such recusals are documented in the meetings minutes.”

Form 990, Page 6, Part VI, Line 19

“4th purpose foundation makes these documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
4th Purpose Foundation
EIN
84-4085732
Phone
8655241223
Address
520 W SUMMIT HILL DRIVE SUITE 1101, KNOXVILLE, TN 37902

Signing Officer

Name
Josh Smith
Title
President & Chair
Phone
8655241223
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Josh Smith
Formed
2019
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

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, Page 1, Part I, Line 6

“Five individuals served in 2021 as volunteers on the foundation's board”

Form 990, Part IX, Line 11G

“124,924 31,165 0”

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. In addition, the foundation qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(1). Under accounting standards, an organization must recognize tax benefits associated with tax taken for tax return purposes when it is more likely than not that the position will not be sustained upon examination by taxing authorities. There were no unrecognized tax benefits identified or recorded as liabilities for 2021 and 2020. The foundation's form 990, return of organization exempt from income tax (including the returns for its supporting organizations), and its form 990 -t, unrelated business tax return, for the years ending 2018 through 2021 are subject to examination by the irs, generally for three years after they were filed.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE FOUNDATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). UNDER ACCOUNTING STANDARDS, AN ORGANIZATION MUST RECOGNIZE TAX BENEFITS ASSOCIATED WITH TAX TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR 2021 AND 2020. THE FOUNDATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (INCLUDING THE RETURNS FOR ITS SUPPORTING ORGANIZATIONS), AND ITS FORM 990 -T, UNRELATED BUSINESS TAX RETURN, FOR THE YEARS ENDING 2018 THROUGH 2021 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FIVE INDIVIDUALS SERVED IN 2021 AS VOLUNTEERS ON THE FOUNDATION'S BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JOSH SMITH TRACY SMITH CHAIR MANAGER FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE WERE NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CHIEF FINANCIAL OFFICER OF EAST TENNESSEE FOUNDATION REVIEWS THE FORM 990 AND FORWARDS A COPY TO ALL 4TH PURPOSE FOUNDATION BOARD MEMBERS VIA EMAIL PRIOR TO FILING. THE COMPLETE FORM 990 IS ALSO SENT TO THE PRESIDENT AND CHAIR OF 4TH PURPOSE FOUNDATION FOR REVIEW AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OFFICERS AND DIRECTORS WITH A CONFLICT OF INTEREST ON AN ISSUE ON A MEETING AGENDA ARE ASKED TO DISCLOSE THE CONFLICT AT THE MEETING AND TO RECUSE THEMSELVES FROM PARTICIPATION IN DISCUSSION AND VOTING ON THAT ITEM; SUCH RECUSALS ARE DOCUMENTED IN THE MEETINGS MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt54TH PURPOSE FOUNDATION MAKES THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,985,074
Liabilities
$3,039,154
Net assets
$10,945,920
Revenue
$393,080
Expenses
$558,463
Net income
-$165,383
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.8$2.78$10.0$0.78$0.75$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.5$2.87$9.64$0.61$0.64$0.03
2022Detailed filing. Detailed filing data is available for this year.$12.6$3.59$8.99$0.59$1.14$0.55
2021Detailed filing. Detailed filing data is available for this year.$14.0$3.04$10.9$0.39$0.56$0.17
2020Detailed filing. Detailed filing data is available for this year.$10.3$0.01$10.3$8.57$0.11$8.46
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$0.00$1.28$1.28$0.00$1.28