Northwest Tennessee Economic Development Council
- Assets
- $3.0m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 411
- Location
- Dresden, TN
- Founding
- 04/1968
- Data as of
- 06/2021
- EIN
- 62-0729622
Organization Overview
Northwest Tennessee Economic Development Council is located in Dresden, TN. The organization was established in 1968. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Northwest Tennessee Economic Development Council employed 411 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Tennessee Economic Development Council 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, Northwest Tennessee Economic Development Council generated $21.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $21.8m during the year ending 06/2021. While expenses have increased by 5.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY BASED ORGANIZATION CREATED FOR THE PURPOSE OF HELPING TO ELIMINATE POVERTY THROUGH COMMUNITY ACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD EDUCATION-PROGRAM DESIGNED TO PROVIDE HEAD START SERVICES TO ECOMONICALLY DISADVANTAGED CHILDREN
LOW INCOME ENERGY ASSISTANCE- PROGRAM PROVIDES WEATHERIZATION SERVICES TO LOW INCOME PARTICIPANTS.
COMMUNITY SERVICES- PROGRAM PROVIDES COMMUNITY DEVELOPMENT SERVICES TO ELIGIBLE PARTICIPANTS
OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rakaya Humphreys Headstart Di | Officer | 40 | $86,706 |
Don Ridgeway Ex. Director | Officer | 40 | $83,714 |
Tracy Webb Facilities A | Officer | 40 | $72,754 |
Mitzi Gilliam Education Ma | Officer | 40 | $72,588 |
Michael White It Administr | Officer | 40 | $72,037 |
See Attached See Attached | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,833,808 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,833,808 |
| Total Program Service Revenue | $103,542 |
| Investment income | $610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,895,121 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,286,838 |
| 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 | $7,844,558 |
| Pension plan accruals and contributions | $452,687 |
| Other employee benefits | $2,242,783 |
| Payroll taxes | $633,489 |
| 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 | $0 |
| Fees for services: Other | $459,753 |
| Advertising and promotion | $0 |
| Office expenses | $68,835 |
| Information technology | $244,619 |
| Royalties | $0 |
| Occupancy | $941,056 |
| Travel | $172,243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $319,202 |
| Insurance | $0 |
| All other expenses | -$702,321 |
| Total functional expenses | $21,770,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $413,320 |
| Accounts receivable, net | $82,570 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $393,207 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,860,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $137,830 |
| Total assets | $2,980,191 |
| Accounts payable and accrued expenses | $495,760 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $846,426 |
| Total liabilities | $1,342,186 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$246,720 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,884,725 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,980,191 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northwest Tennessee Economic Development Council has recieved totaling $15,882.
| Awarding Organization | Amount |
|---|---|
National Association For The Exchange Of Industrial Resources I Galesburg, IL PURPOSE: CARE OF ILL, NEEDY, OR MINOR | $15,882 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Three Rivers Planning & Development District Pontotoc, MS | $48,398,868 | $43,682,575 |
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Crawford Sebastian Community Development Council Inc Fort Smith, AR | $10,081,488 | $25,336,007 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Hope Enterprise Corporation Jackson, MS | $150,349,143 | $24,959,106 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Delta Area Economic Opportunity Corporation Portageville, MO | $22,832,856 | $23,706,654 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Hampton Roads Community Action Program Inc Newport News, VA | $4,977,691 | $24,100,051 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |