East Tennessee Foundation
- Assets
- $333.7m
- Revenue
- $23.1m
- Investments
- $244.2m
- Employees
- 22
- Location
- Knoxville, TN
- Founding
- 12/1963
- Data as of
- 12/2021
- EIN
- 62-0807696
Organization Overview
East Tennessee Foundation is located in Knoxville, TN. The organization was established in 1963. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, East Tennessee Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Tennessee 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 12/2021, East Tennessee Foundation generated $23.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $23.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, East Tennessee Foundation has awarded 1,634 individual grants totaling $140,705,507. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ETF IS A COMMUNITY FOUNDATION, SERVING 25 COUNTIES, WHOSE MISSION IS TO PROVIDE PHILANTHROPIC LEADERSHIP INSPIRING DONORS TO MAKE LIVES BETTER AND COMMUNITIES STRONGER IN ENDURING WAYS ACROSS GENERATIONS.
Describe the Organization's Program Activity:
PROVIDED ASSISTANCE IN THE FORM OF 1,002 GRANTS FROM 87 DONOR ADVISED FUNDS TO 496 501(C)(3) ORGANIZATIONS, GOVERNMENT ENTITIES AND CHURCHES TO SUPPORT A WIDE RANGE OF CHARITABLE PURPOSES, BOTH LOCALLY WITHIN THE 25 COUNTY SERVICE AREA AND ALSO OUTSIDE THE REGION.
PROVIDED GENERAL SUPPORT TO 80 501(C)(3) ORGANIZATIONS, GOVERNMENT ENTITIES AND CHURCHES IN THE FORM OF 102 GRANTS FROM 72 DESIGNATED ORGANIZATION AND AGENCY ENDOWMENT FUNDS.
CONDUCTED 70 COMPETITIVE SCHOLARSHIP PROGRAMS TO ENABLE STUDENTS THROUGHOUT THE REGION TO OBTAIN A POST-SECONDARY EDUCATION; 220 STUDENTS RECEIVED SCHOLARSHIPS AND ATTENDED 50 INSTITUTIONS OF HIGHER LEARNING IN TENNESSEE AND THROUGHOUT THE NATION.
4D-1) EXPENSES OF 940,850, INCLUDING GRANTS OF 940,850 - CONDUCTED COMPETITIVE GRANTMAKING PROGRAMS IN THE FIELD-OF-INTEREST AREAS OF AFFORDABLE HOUSING, YOUTH-AT-RISK, RACIAL JUSTICE, WOMEN AND CHILDREN, COVID-19 AND OTHER DISASTER RELIEF PROVIDING 109 GRANTS TO 92 501(C)(3) ORGANIZATIONS FOR WORTHWHILE PROJECTS IN THE 25 COUNTY SERVICE AREA AND TO 5 OTHER COMMUNITY FOUNDATIONS IN TENNESSEE, KENTUCKY, AND NORTH CAROLINA. 4D-2) EXPENSES OF 506,382, INCLUDING GRANTS OF 506,382 - FUNDED 1 GRANT FROM THE PAT SUMMITT FOUNDATION FUND TO THE PAT SUMMITT CLINIC, A STATE- OF-THE-ART FACILITY AT UTMC FOR THE TREATMENT OF ALZHEIMER'S AND OTHER NEUROLOGICAL DISEASES, 11 GRANTS IN SUPPORT OF CAREGIVER TRAINING, ADULT DAY PROGRAMS, AND OTHER ALZHEIMER'S AND DEMENTIAS-RELATED PURPOSES, AND 3 MEMORIAL AND HONORARIUM GRANTS. 4D-3) EXPENSES OF 667,584, INCLUDING GRANTS OF 667,584 - CONDUCTED LOCALIZED, COMPETITIVE GRANTMAKING PROGRAMS THROUGH THE FOUNDATION'S AFFILIATE AND COUNTY-SPECIFIC FUNDS, ALLOWING LOCAL ADVISORY BOARDS TO SELECT WORTH PROJECTS AND PROGRAMS AT THE LOCAL LEVEL; 57 GRANTS WERE AWARDED TO 51 ORGANIZATIONS FOR A WIDE VARIETY OF CHARITABLE PURPOSES. 4D-4) EXPENSES OF 952,362, INCLUDING GRANTS OF 39,220 - MADE 61 DISCRETIONARY GRANTS FROM 7 FUNDS AND PAID PROGRAM-RELATED EXPENSES ASSOCIATED WITH THE MANAGEMENT OF CHARITABLE FUNDS AND THE ALLOCATION OF GRANT FUNDS TO BENEFIT THE 25 COUNTY EAST TENNESSEE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael T Mcclamroch President An | Officer | 35 | $205,708 |
Carolyn Schwenn Secretary | Officer | 35 | $102,956 |
Jeanette Kelleher Interim Pres | Officer | 40 | $94,636 |
Catherine Biggs Chair | OfficerTrustee | 1 | $0 |
James Harlan Vice Chair | OfficerTrustee | 1 | $0 |
Sam Albritton Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $770,616 |
| Related organizations | $711,415 |
| Government grants | $299,828 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,814,280 |
| Noncash contributions included in lines 1a–1f | $2,141,224 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,596,139 |
| Total Program Service Revenue | $0 |
| Investment income | $1,726,299 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,916 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,473,935 |
| Net Income from Fundraising Events | -$23,318 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,055,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,830,242 |
| Grants and other assistance to domestic individuals. | $889,743 |
| Grants and other assistance to Foreign Orgs/Individuals | $168,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $430,954 |
| Compensation of current officers, directors, key employees. | $203,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,016,027 |
| Pension plan accruals and contributions | $49,146 |
| Other employee benefits | $74,613 |
| Payroll taxes | $102,627 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,874 |
| Fees for services: Accounting | $60,584 |
| Fees for services: Lobbying | $7,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,383 |
| Fees for services: Other | $32,951 |
| Advertising and promotion | $59,145 |
| Office expenses | $77,847 |
| Information technology | $130,776 |
| Royalties | $0 |
| Occupancy | $263,103 |
| Travel | $8,760 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,502 |
| Interest | $2,253 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,008 |
| Insurance | $20,892 |
| All other expenses | $0 |
| Total functional expenses | $23,340,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,798,471 |
| Pledges and grants receivable | $66,092,071 |
| Accounts receivable, net | $26,442 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $228,688 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,983 |
| Net Land, buildings, and equipment | $68,416 |
| Investments—publicly traded securities | $229,703 |
| Investments—other securities | $244,205,857 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $333,652,631 |
| Accounts payable and accrued expenses | $36,479 |
| Grants payable | $49,712,737 |
| 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 | $529,733 |
| Total liabilities | $50,278,949 |
| Net assets without donor restrictions | $276,771,641 |
| Net assets with donor restrictions | $6,602,041 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $333,652,631 |
Grants Awarded
Over the last fiscal year, East Tennessee Foundation has awarded $19,189,773 in support to 293 organizations.
| Grant Recipient | Amount |
|---|---|
Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $5,340,546 |
Kodak, TN PURPOSE: GEN/OPER SUPPORT | $2,568,213 |
Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $709,300 |
Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $519,750 |
Knoxville, TN PURPOSE: CAPITAL CAMPAIGN | $400,700 |
Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $392,379 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Tennessee Foundation has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Barbara L Thomas Foundation Bethlehem, PA PURPOSE: GENERAL CHARITABLE | $4,000 |
Endowment Analysis
| Beg. Balance | $188,247,904 |
| Earnings | $25,601,296 |
| Admin Expense | $882,057 |
| Net Contributions | $14,609,795 |
| Other Expense | $557,190 |
| Grants | $7,539,629 |
| Ending Balance | $219,480,119 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas Community Foundation Inc Little Rock, AR | $560,797,819 | $112,679,416 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |
Charlottesville Area Community Foundation Charlottesville, VA | $339,690,669 | $77,610,040 |
North Carolina Community Foundation Inc Raleigh, NC | $442,779,010 | $109,848,330 |
Hampton Roads Community Foundation Norfolk, VA | $431,066,210 | $16,919,172 |
Triangle Community Foundation Durham, NC | $302,593,887 | $28,260,487 |
Chattanooga Christian Community Foundation Chattanooga, TN | $107,861,272 | $37,732,736 |
The Community Foundation Of Greater Birmingham Birmingham, AL | $299,631,425 | $49,687,592 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN | $242,437,300 | $52,106,763 |
East Tennessee Foundation Knoxville, TN | $333,652,631 | $23,055,951 |
The Community Foundation Of Western North Carolina Inc Asheville, NC | $422,748,745 | $38,320,270 |
Community Foundation Of The Ozarks Inc Springfield, MO | $393,798,423 | $57,110,719 |