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← ENTREPRENEUR DEVELOPMENT CENTER SOUTHWEST TENNESSEE INC

Form 990 for tax year 2022

Filed by ENTREPRENEUR DEVELOPMENT CENTER SOUTHWEST TENNESSEE INC.

Totals

Total revenue
$640,119
Total expenses
$605,051
Contributions and grants received
$486,588
Grants paid
$0
Program service revenue
$153,531
Investment income
$0
Other revenue
$0
Total assets, end of year
$945,144
Total liabilities, end of year
$5,798
Net assets or fund balances, end of year
$939,346
Program services expenses (Part IX)
$562,464
Management and general expenses
$42,587
Fundraising expenses
$0
Program service expenses (Part III)
$562,464

Program services were 93.0% 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.

  • 1b · Membership dues

    $69,343

  • 1e · Government grants (contributions)

    $375,946

  • 1f · All other contributions, gifts and grants

    $41,299

  • 2a · Program service revenue: SALES

    total $108,107 · related or exempt $108,107

  • 2b · Program service revenue: JDDC INCOME

    total $40,507 · related or exempt $40,507

  • 2c · Program service revenue: PROGRAM FEES

    total $4,467 · related or exempt $4,467

  • 2d · Program service revenue: SPACE RENTAL

    total $450 · related or exempt $450

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $133,430 · program services $133,430

  • 7 · Other salaries and wages

    total $163,908 · program services $162,745 · management and general $1,163

  • 10 · Payroll taxes

    total $25,913 · program services $25,900 · management and general $13

  • 11c · Fees: accounting

    total $9,601 · management and general $9,601

  • 11g · Fees: other

    total $34,290 · program services $31,365 · management and general $2,925

  • 12 · Advertising and promotion

    total $1,312 · program services $1,132 · management and general $180

  • 13 · Office expenses

    total $41,901 · program services $37,110 · management and general $4,791

  • 16 · Occupancy

    total $30,986 · program services $22,274 · management and general $8,712

  • 17 · Travel

    total $9,677 · program services $7,822 · management and general $1,855

  • 19 · Conferences, conventions and meetings

    total $914 · program services $171 · management and general $743

  • 22 · Depreciation, depletion and amortization

    total $110,044 · program services $110,044

  • 23 · Insurance

    total $25,326 · program services $17,530 · management and general $7,796

  • 24a · Other expenses: JDDC TRANSFERS

    total $10,500 · program services $10,500

  • 24b · Other expenses: TAXES AND LICENSES

    total $4,474 · program services $20 · management and general $4,454

  • 24c · Other expenses: MEMBERSHIP DUES

    total $1,548 · program services $1,228 · management and general $320

  • 24d · Other expenses: PRIZES

    total $1,001 · program services $1,001

  • 24e · All other expenses

    total $226 · program services $192 · management and general $34

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $44,551 · end of year $191,315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,967

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

    $1,738,809

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

    $986,830

  • 10c · Land, buildings and equipment, net

    beginning of year $859,324 · end of year $751,979

  • 14 · Intangible assets

    beginning of year $1,850 · end of year $1,850

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,414 · end of year $5,798

  • 27 · Net assets without donor restrictions

    beginning of year $904,278 · end of year $939,346

Mission and programs · 2022

Mission

THE ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE RITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY. RELATED PROGRAMS TO THIS MISSION INCLUDE A CODING ACADEMY FOR HIGH SCHOOL STUDENTS; FUNDING FOR MEDICAL DEVICE RESEARCH ACTIVITIES FOR LOCAL PHYSCIANS; AND A LOCAL LIFE STYLE MAGAZINE FOCUSED TOWARD COMMUNITY OPPORTUNITIES AND BUSINESS.

  • THE ENTREPRENEUR DEVELOPMENT CENTER ASSISTS ASPIRING SMALL BUSINESS OWNERS IN BY PROVIDING EDUCATION, MENTORING, TRAINING AND KNOWLEDGE TO ASSIST THEM IN THEIR QUEST TO BECOME ENTREPRENEURS. ENTREPRENEURSHIP CAN DO MORE THAN JUST CREATE JOBS; IT CAN CREATE NEW WAYS TO ADDRESS THE CHALLENGES THAT RESIDE IN OUR COMMUNITY. OUR MISSION IS TO CONNECT ENTREPRENEURS WITH THE CRITICAL RESOURCES THEY NEED TO CREATE, BUILD AND GROW THEIR BUSINESSES. THESE CRITICAL RESOURCES ARE EXPERIENCED MENTORS, CAPITAL, TRAINING, KNOWLEDGE AND A SUPPORTIVE COMMUNITY.

    Expenses $405,145 · Revenue $456,255

  • DRIVING INNOVATION - MOBILE LABS PROVIDING BUSINESS AND ENTREPRENEUR DEVELOPMENT RESOURCES FOR DEMONSTRATION AND TRAINING

    Expenses $68,998

  • PROVIDE CODING EDUCATION AND TRAINING FOR HIGH SCHOOL STUDENTS INCLUDING EXPLORATION OF THE OPPORTUNITIES AVAILABLE IN THIS AREA AS A CAREER.

    Expenses $11,862 · Revenue $1,500

  • COSTARTERS PROGRAM TO TRAIN DEVELOPING ENTREPRENEURS, OUR JACKSON HOME MAGAZINE, VARIOUS WORKSHOPS AND A MOBILE DEMONSTRATION AND TRAINING VEHICLE.

    Expenses $76,459 · Revenue $38,887

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lisa Garner

    CEO

    Total calculated
    $95,000
    From this org
    $95,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ben Harris

    COO

    Total calculated
    $74,054
    From this org
    $74,054
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kevin Adelsberger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William Donnell

    CTO

    Total calculated
    $0
    Hours/week
    1

  • Stephen Eldridge

    TREASURER/SE

    Total calculated
    $0
    Hours/week
    2

  • Ben Ferguson

    BOARD CHAIRM

    Total calculated
    $0
    Hours/week
    1

  • Andre Gist

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Laffoon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Frank Lawrence

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Piercey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Austin Thompson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202332629349300743

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