Community Foundation Of Greater Chattanooga Inc
- Assets
- $242.4m
- Revenue
- $52.1m
- Investments
- $46.8m
- Employees
- 16
- Location
- Chattanooga, TN
- Founding
- 04/1965
- Data as of
- 12/2021
- EIN
- 62-6045999
Organization Overview
Community Foundation Of Greater Chattanooga Inc is located in Chattanooga, TN. The organization was established in 1965. 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, Community Foundation Of Greater Chattanooga Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Greater Chattanooga Inc 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, Community Foundation Of Greater Chattanooga Inc generated $52.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $26.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Community Foundation Of Greater Chattanooga Inc has awarded 2,473 individual grants totaling $38,802,411. 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
TO INSPIRE GIVING AND ENCOURAGE ACTION TO IMPROVE LIVES IN THE GREATER CHATTANOOGA AREA.
Describe the Organization's Program Activity:
PROVIDING SCHOLARSHIPS AND FUNDS FOR AREA BEAUTIFICATION, DOWNTOWN DEVELOPMENT, HEALTH RELATED ISSUES, CIVIC AND CULTURAL IMPROVEMENTS, AND EDUCATIONAL AND HUMANITARIAN PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maeghan Jones President | Officer | 40 | $188,103 |
Dr Dave Bhattacharya Director | OfficerTrustee | 1 | $0 |
Barry Large Director | OfficerTrustee | 1 | $0 |
Ansley Moses Secretary | OfficerTrustee | 1 | $0 |
Julie Stowe Ex-Officio | OfficerTrustee | 1 | $0 |
Dallas Joseph Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $725,908 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,636,648 |
| Noncash contributions included in lines 1a–1f | $15,840,508 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,362,556 |
| Total Program Service Revenue | $0 |
| Investment income | $2,669,765 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,847,182 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,106,763 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,456,411 |
| Grants and other assistance to domestic individuals. | $881,345 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $189,330 |
| Compensation of current officers, directors, key employees. | $47,332 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $799,839 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $166,759 |
| Payroll taxes | $71,726 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,932 |
| Fees for services: Accounting | $27,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,023,445 |
| Fees for services: Other | $78,986 |
| Advertising and promotion | $21,138 |
| Office expenses | $22,126 |
| Information technology | $97,873 |
| Royalties | $0 |
| Occupancy | $78,231 |
| Travel | $3,306 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,747 |
| Interest | $47,349 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,401 |
| Insurance | $15,490 |
| All other expenses | $0 |
| Total functional expenses | $26,114,909 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,760 |
| Savings and temporary cash investments | $27,334,642 |
| Pledges and grants receivable | $21,765,748 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,984,338 |
| Investments—publicly traded securities | $144,226,766 |
| Investments—other securities | $46,832,014 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $141,032 |
| Total assets | $242,437,300 |
| Accounts payable and accrued expenses | $371,653 |
| Grants payable | $1,424,955 |
| 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 | $980,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,429,561 |
| Total liabilities | $8,206,843 |
| Net assets without donor restrictions | $174,542,968 |
| Net assets with donor restrictions | $59,687,489 |
| 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 | $242,437,300 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Greater Chattanooga Inc has awarded $20,174,212 in support to 670 organizations.
| Grant Recipient | Amount |
|---|---|
Dalton, GA PURPOSE: JACK MCKEE DONOR ADVISED FUND | $500,000 |
Cleveland, TN PURPOSE: JACK MCKEE DONOR ADVISED FUND | $500,000 |
Chattanooga, TN PURPOSE: SMART CITY STUDENT CONNECTIVITY PROJECT | $500,000 |
TOWN OF SIGNAL MOUNTAIN PURPOSE: READING ROOM CONSTRUCTION SERVICES | $500,000 |
Sweet Briar, VA PURPOSE: UNRESTRICTED | $500,000 |
Peachtree Corners, GA PURPOSE: WORTHY STUDENT FUND 2022-2023 SCHOOL YEAR, EXCLUDE FORREST LAKE ACADEMY AND N. TAMPA CHRISTIAN ACADEMY | $400,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Community Foundation Of Greater Chattanooga Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Mckenzie Foundation Chattanooga, TN PURPOSE: OPERATING FUNDS | $10,000 |
Thomas D And Patsy K Hosman Family Foundation Inc Englewood, FL PURPOSE: ASSISTANCE TO FUND THE CAMP NAKANAWA ENDOWMENT FUND. | $5,000 |
Endowment Analysis
| Beg. Balance | $27,078,260 |
| Earnings | $4,136,848 |
| Net Contributions | $1,900,775 |
| Grants | $777,007 |
| Ending Balance | $32,338,876 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Louis Community Foundation Incorporated St Louis, MO | $436,956,368 | $124,413,038 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN | $205,748,037 | $85,831,682 |
The Community Foundation Inc Richmond, VA | $859,349,771 | $152,790,051 |
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 |