Tennessee Technological University Foundation
- Assets
- $123.5m
- Revenue
- $10.0m
- Investments
- $9.0m
- Employees
- 0
- Location
- Cookeville, TN
- Founding
- 04/1978
- Data as of
- 06/2021
- EIN
- 59-1777911
Organization Overview
Tennessee Technological University Foundation is located in Cookeville, TN. The organization was established in 1978. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Technological University Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Tennessee Technological University Foundation generated $10.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $6.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CONTRIBUTE TO THE GENERAL WELFARE OF SOCIETY AND TTU AS A PUBLIC BENEFIT CORPORATION. PROVIDE PRIVATE GIFT SUPPORT FOR ANNUAL AND CAPITAL PURPOSES AND PROMOTE TTU.
Describe the Organization's Program Activity:
PROVIDED FUNDS FOR SCHOLARSHIPS AND SUPPORT OF TENNESSEE TECHNOLOGICAL UNIVERSITY.
MADE PURCHASES, PAID FOR TRAVEL, AND PERFORMED MAINTENANCE ON BEHALF OF TENNESSEE TECHNOLOGICAL UNIVERSITY DEPARTMENTS, PER DONOR REQUESTS.
TRANSFERRED FUNDS TO TENNESSEE TECHNOLOGICAL UNIVERSITY FOR THE SUPPORT OF VARIOUS DEPARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kevin Braswell Secretary | OfficerTrustee | 18.7 | $0 |
Ottis Phillips Vice-Chair | OfficerTrustee | 0.5 | $0 |
Dr Philip Oldham Co-Chair | OfficerTrustee | 3.7 | $0 |
Dr Claire Stinson Treasurer | OfficerTrustee | 3.7 | $0 |
Nathan Tudor Director | Trustee | 0.5 | $0 |
Chris Privon Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,520,917 |
| Noncash contributions included in lines 1a–1f | $979,786 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,520,917 |
| Total Program Service Revenue | $0 |
| Investment income | $34,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $379,354 |
| Net Gain/Loss on Asset Sales | $1,482,741 |
| Net Income from Fundraising Events | $146,294 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $208 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,032,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,592,082 |
| Grants and other assistance to domestic individuals. | $2,047,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $141,811 |
| Fees for services: Other | $568,944 |
| Advertising and promotion | $38,711 |
| Office expenses | $1,083,529 |
| Information technology | $46,408 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,197 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,063 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,994 |
| Insurance | $41,467 |
| All other expenses | $0 |
| Total functional expenses | $6,770,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,829,614 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $132,151 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,038 |
| Prepaid expenses and deferred charges | $4,245 |
| Net Land, buildings, and equipment | $14,645,836 |
| Investments—publicly traded securities | $89,702,470 |
| Investments—other securities | $9,025,777 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $176,131 |
| Total assets | $123,537,262 |
| Accounts payable and accrued expenses | $581,798 |
| Grants payable | $0 |
| Deferred revenue | $112,746 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,778,839 |
| Total liabilities | $3,223,383 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,671,031 |
| Paid-in or capital surplus, or land, building, or equipment fund | $11,741,854 |
| Retained earnings, endowment, accumulated income, or other funds | $106,900,994 |
| Total liabilities and net assets/fund balances | $123,537,262 |
Grants Awarded
Over the last fiscal year, Tennessee Technological University Foundation has awarded $2,592,082 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TENNESSEE TECHNOLOGICAL UNIVERSITY PURPOSE: SUPPORT | $2,582,082 |
Cookeville, TN PURPOSE: SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 21 grants that Tennessee Technological University Foundation has recieved totaling $3,635,029.
| Awarding Organization | Amount |
|---|---|
Yarbrough Family Foundation Franklin, TN PURPOSE: UNRESTRICTED | $3,000,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $561,350 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $12,544 |
The Community Foundation For Northern Virginia Inc Oakton, VA PURPOSE: SINGLE ORGANIZATION SUPPORT | $9,000 |
Hudson Family Charitable Foundation Nashville, TN PURPOSE: GENERAL FUND | $9,000 |
Ingram-White Castle Foundation Columbus, OH PURPOSE: EDUCATION | $6,500 |
Endowment Analysis
| Beg. Balance | $64,321,600 |
| Earnings | $21,452,499 |
| Net Contributions | $2,422,043 |
| Other Expense | $1,032,908 |
| Grants | $1,698,913 |
| Ending Balance | $85,464,321 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Investment Management Company Charlottesville, VA | $10,038,884,501 | $457,345,731 |
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Mose And Garrison Siskin Memorial Foundation Inc Chattanooga, TN | $53,806,754 | $11,101,792 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
University Of Southern Mississippi Foundation Hattiesburg, MS | $151,472,857 | $19,113,544 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |