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Nonprofiteer
← TENNESSEE TECHNOLOGICAL UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by TENNESSEE TECHNOLOGICAL UNIVERSITY FOUNDATION.

Totals

Total revenue
$13,769,757
Total expenses
$12,861,723
Contributions and grants received
$8,365,087
Grants paid
$10,445,674
Program service revenue
$0
Investment income
$2,930,182
Other revenue
$2,474,488
Total assets, end of year
$149,916,981
Total liabilities, end of year
$2,164,628
Net assets or fund balances, end of year
$147,752,353
Program services expenses (Part IX)
$12,551,069
Management and general expenses
$290,025
Fundraising expenses
$20,629
Program service expenses (Part III)
$12,551,069

Program services were 97.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $8,365,087

  • 1g · Noncash contributions included above

    $2,647,736

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $381,869 · unrelated business $4,245 · excluded $377,624

  • 5 · Royalties

    total $5,855 · excluded $5,855

  • 6a · Gross rents

    real property $542,363

  • 6b · Less rental expenses

    real property $154,880

  • 6c · Rental income or loss

    real property $387,483 · personal property $0

  • 6d · Net rental income or loss

    total $387,484 · excluded $387,484

  • 7a · Gross sales of assets other than inventory

    securities $9,270,672

  • 7b · Less cost or other basis and sales expenses

    securities $6,722,359

  • 7c · Gain or loss

    securities $2,548,313 · other assets $0

  • 7d · Net gain or loss

    total $2,548,313 · excluded $2,548,313

  • 8a · Fundraising events: gross income

    $372,850

  • 8b · Fundraising events: direct expenses

    $302,762

  • 8c · Net income from fundraising events

    total $70,088 · excluded $70,088

  • 10a · Gross sales of inventory

    $1,499

  • 10c · Net income from sales of inventory

    total $1,499 · excluded $1,499

  • 11a · Other revenue: GOLDEN EAGLE GOLF COURSE

    total $849,840 · unrelated business $849,840

  • 11b · Other revenue: TECH FARMS

    total $563,933 · related or exempt $563,933

  • 11c · Other revenue: ATHLETIC SPONSORSHIPS

    total $514,770 · excluded $514,770

  • 11d · All other revenue

    total $81,019 · related or exempt $81,019 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,009,562

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,244,910 · program services $7,244,910

  • 2 · Grants to domestic individuals

    total $3,200,764 · program services $3,200,764

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11f · Fees: investment management

    total $98,098 · management and general $98,098

  • 11g · Fees: other

    total $124,615 · program services $113,188 · management and general $10,318 · fundraising $1,109

  • 12 · Advertising and promotion

    total $60,981 · program services $55,389 · management and general $5,049 · fundraising $543

  • 13 · Office expenses

    total $1,169,941 · program services $1,062,658 · management and general $96,871 · fundraising $10,412

  • 14 · Information technology

    total $66,930 · program services $60,792 · management and general $5,542 · fundraising $596

  • 17 · Travel

    total $333,049 · program services $302,508 · management and general $27,577 · fundraising $2,964

  • 19 · Conferences, conventions and meetings

    total $311,241 · program services $282,700 · management and general $25,771 · fundraising $2,770

  • 22 · Depreciation, depletion and amortization

    total $218,151 · program services $198,147 · management and general $18,063 · fundraising $1,941

  • 23 · Insurance

    total $33,043 · program services $30,013 · management and general $2,736 · fundraising $294

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $8,576,299 · end of year $4,170,799

  • 4 · Accounts receivable

    beginning of year $129,263 · end of year $85,153

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $33,671 · end of year $44,413

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,130 · end of year $40,314

  • 10a · Land, buildings and equipment: cost or other basis

    $19,710,294

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,070,148

  • 10c · Land, buildings and equipment, net

    beginning of year $19,050,017 · end of year $18,640,146

  • 11 · Investments: publicly traded securities

    beginning of year $100,568,164 · end of year $114,509,595

  • 12 · Investments: other securities

    beginning of year $9,590,944 · end of year $12,382,528

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $88,066 · end of year $44,033

  • 17 · Accounts payable and accrued expenses

    beginning of year $180,594 · end of year $90,741

  • 19 · Deferred revenue

    beginning of year $200,319 · end of year $144,608

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $500,000 · end of year $375,000

  • 25 · Other liabilities

    beginning of year $1,747,987 · end of year $1,554,279

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,681,953 · end of year $1,637,920

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $16,146,035 · end of year $15,736,164

  • 31 · Retained earnings, endowment or other funds

    beginning of year $117,629,666 · end of year $130,378,269

Mission and programs · 2023

Mission

THE TENNESSEE TECHNOLOGICAL UNIVERSITY FOUNDATION IS A NON-PROFIT 501(C)(3) CORPORATION WHOSE PURPOSE IS TO PROVIDE GUIDANCE AND ASSISTANCE FOR A PROGRAM OF PRIVATE GIFT SUPPORT FOR TENNESSEE TECH. MORE SPECIFICALLY ITS PURPOSES ARE TO PROMOTE THE DEVELOPMENT PROGRAM AT TENNESSEE TECH; PROVIDE ADVICE, COUNSEL, AND ASSISTANCE TO THE PRESIDENT ON STRATEGIC ISSUES THAT IMPACT THE DIRECTION AND FUTURE OF THE UNIVERSITY; ENCOURAGE, RECOGNIZE, AND REWARD OUTSTANDING ACHIEVEMENTS BY FACULTY, STAFF, STUDENTS, ALUMNI, AND FRIENDS OF TENNESSEE TECH; AND RECEIVE AND ADMINISTER PRIVATE FUNDS WHICH ARE CONTRIBUTED TO TENNESSEE TECH AND IN THOSE CASES WHERE FUNDS ARE GIVEN WITH RESTRICTIONS, TO FOLLOW AND ABIDE BY THE PROVISIONS OF THE RESTRICTIONS.

Activities or mission (Part I)

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.

  • TRANSFERRED FUNDS TO TENNESSEE TECHNOLOGICAL UNIVERSITY FOR THE SUPPORT OF VARIOUS DEPARTMENTS.

    Expenses $7,244,910 · Grants $7,244,910

  • PROVIDED FUNDS FOR SCHOLARSHIPS AND SUPPORT OF TENNESSEE TECHNOLOGICAL UNIVERSITY.

    Expenses $3,200,764 · Grants $3,200,764 · Revenue $644,952

  • MADE PURCHASES, PAID FOR TRAVEL, AND PERFORMED MAINTENANCE ON BEHALF OF TENNESSEE TECHNOLOGICAL UNIVERSITY DEPARTMENTS, PER DONOR REQUESTS.

    Expenses $2,105,395

As filed on the 2023 return.

Listed in Part VII

  • Alfonzo Alexander

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Claire Stinson

    TREASURER

    Total calculated
    $261,279
    From this org
    $0
    From related orgs
    $228,185
    Other
    $33,094
    Hours/week
    3.7 + 33.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,137 related
    Bonus
    $0
    Other
    $0 + $48 related
    Deferred
    $0 + $25,783 related
    Nontaxable benefits
    $0 + $7,311 related
    Filer's total
    $0 + $261,279 related

  • Dr Kevin Braswell

    SECRETARY

    Total calculated
    $245,772
    From this org
    $0
    From related orgs
    $205,310
    Other
    $40,462
    Hours/week
    18.7 + 18.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,239 related
    Bonus
    $0
    Other
    $0 + $71 related
    Deferred
    $0 + $21,456 related
    Nontaxable benefits
    $0 + $19,006 related
    Filer's total
    $0 + $245,772 related

  • Dr Philip Oldham

    CO-CHAIR

    Total calculated
    $530,794
    From this org
    $0
    From related orgs
    $477,090
    Other
    $53,704
    Hours/week
    3.7 + 33.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $477,032 related
    Bonus
    $0
    Other
    $0 + $58 related
    Deferred
    $0 + $34,698 related
    Nontaxable benefits
    $0 + $19,006 related
    Filer's total
    $0 + $530,794 related

  • M Dianne Murphy

    Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Amy New

    Vice Chair-Elect

    Total calculated
    $0
    Hours/week
    0.5

  • Ashraf Islam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Chris Privon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • David Cooley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Fred Lowery

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • John Milne

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • John W Rose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mary Graves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Nathan Burton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Nathan Tudor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Teresa Chasteen-Dunn

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Thomas H Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Trudy Harper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Zaire Mattox

    Student Member

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
TENNESSEE TECHNOLOGICAL UNIVERSITY FOUNDATION DOES NOT ENGAGE IN A COMPENSATION REVIEW PROCESS BECAUSE ALL COMPENSATION FOR CALENDAR YEAR 2023 IS PAID BY A RELATED ORGANIZATION, TENNESSEE TECHNOLOGICAL UNIVERSITY. THE PROCESS FOR DETERMINING COMPENSATION IS COMPLETED BY TENNESSEE TECHNOLOGICAL UNIVERSITY. TENNESSEE TECHNOLOGICAL UNIVERSITY'S BOARD OF DIRECTORS USES COMPARABILITY DATA, INCULDING COMPENSATION SURVEYS OR STUDIES TO DETERMINE AND PROPOSE A REASONABLE COMPENSATION AMOUNT FOR THE PRESIDENT. THE BOARD APPROVES THE PROPOSED COMPENSATION FOR THE PRESIDENT. REVIEW AND APPROVAL OF THE CEO IS DOCUMENTED IN THE BOARD MINUTES AND ALL COMPENSATION REVIEWS ARE INCLUDED IN EMPLOYEE FILES. THIS PROCESS WAS LAST UNDERTAKEN IN 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • Tennessee Technological University

    $7,244,910

    Support

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • TENNESSEE TECHNOLOGICAL UNIVERSITY

    EDUCATION · TN

    Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TECH FARMS LLC

    AGRICULTURE · TN · income $501,296 · assets $7,990,872

    Directly controlled by TTUF

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349316130

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