Form 990 for tax year 2022
Filed by TENNESSEE TECHNOLOGY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $13,419,783
- Total expenses
- $13,375,582
- Contributions and grants received
- $13,177,546
- Grants paid
- $10,398,453
- Program service revenue
- $239,541
- Investment income
- $12,764
- Other revenue
- -$10,068
- Total assets, end of year
- $26,945,258
- Total liabilities, end of year
- $24,065,698
- Net assets or fund balances, end of year
- $2,879,560
- Program services expenses (Part IX)
- $12,511,272
- Management and general expenses
- $864,310
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $12,511,272
Program services were 93.5% 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.
-
1e · Government grants (contributions)
$13,177,546
-
2a · Program service revenue: CAPITAL ADMIN FEE INCOME
total $120,541 · related or exempt $120,541
-
2b · Program service revenue: SPONSORSHIP/PROGRAM REVENUE
total $119,000 · related or exempt $119,000
-
3 · Investment income
total $12,764 · excluded $12,764
-
8a · Fundraising events: gross income
$230,049
-
8b · Fundraising events: direct expenses
$325,057
-
8c · Net income from fundraising events
total -$95,008 · excluded -$95,008
-
11a · Other revenue: OTHER INCOME
total $84,940 · related or exempt $84,940
-
11e · Other revenue, total
$84,940
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,398,453 · program services $10,398,453
-
5 · Compensation of officers, directors and key employees
total $316,773 · program services $237,580 · management and general $79,193
-
7 · Other salaries and wages
total $1,171,265 · program services $878,448 · management and general $292,817
-
9 · Other employee benefits
total $245,287 · program services $183,965 · management and general $61,322
-
10 · Payroll taxes
total $110,735 · program services $83,051 · management and general $27,684
-
11b · Fees: legal
total $38,975 · program services $38,975
-
11c · Fees: accounting
total $142,728 · management and general $142,728
-
11g · Fees: other
total $113,464 · program services $113,464
-
13 · Office expenses
total $15,146 · program services $11,360 · management and general $3,786
-
14 · Information technology
total $14,469 · program services $14,469
-
16 · Occupancy
total $22,670 · management and general $22,670
-
17 · Travel
total $71,514 · program services $71,514
-
19 · Conferences, conventions and meetings
total $16,901 · program services $16,901
-
20 · Interest
total $6,767 · management and general $6,767
-
22 · Depreciation, depletion and amortization
total $87,535 · management and general $87,535
-
24a · Other expenses: PROGRAM ACTIVITIES
total $375,474 · program services $375,474
-
24b · Other expenses: SUBSCRIPTION FEES
total $72,672 · program services $54,504 · management and general $18,168
-
24c · Other expenses: STRATEGIC COMMUNICATION
total $43,733 · management and general $43,733
-
24d · Other expenses: MEALS AND ENTERTAINMENT
total $27,729 · management and general $27,729
-
24e · All other expenses
total $83,292 · program services $33,114 · management and general $50,178
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $2,184,661 · end of year $633,557
-
3 · Pledges and grants receivable
beginning of year $1,194,099 · end of year $11,037,929
-
4 · Accounts receivable
beginning of year $25,000 · end of year $10,000
-
9 · Prepaid expenses and deferred charges
beginning of year $40,896 · end of year $107,442
-
10a · Land, buildings and equipment: cost or other basis
$365,457
-
10b · Land, buildings and equipment: accumulated depreciation
$149,684
-
10c · Land, buildings and equipment, net
beginning of year $2,964 · end of year $215,773
-
13 · Investments: program-related
beginning of year $14,432,870 · end of year $14,767,758
-
14 · Intangible assets
beginning of year $182,363 · end of year $172,799
-
17 · Accounts payable and accrued expenses
beginning of year $445,419 · end of year $513,242
-
19 · Deferred revenue
beginning of year $15,000 · end of year $0
-
25 · Other liabilities
beginning of year $14,767,075 · end of year $23,552,456
-
27 · Net assets without donor restrictions
beginning of year $2,225,634 · end of year $2,470,709
-
28 · Net assets with donor restrictions
beginning of year $609,725 · end of year $408,851
Mission and programs · 2022
Mission
LAUNCH TENNESSEE IS A NONPROFIT, PUBLIC-PRIVATE PARTNERSHIP THAT SERVES AS THE HUB FOR STARTUPS AND INNOVATION IN TENNESSEE. LAUNCH TENNESSEE PROVIDES CONNECTIONS, COMMERCIALIZATION SUPPORT, AND CAPITAL ACCESS.
Activities or mission (Part I)
CREATION OF ECONOMIC ACTIVITY THROUGH DEVELOPMENT OF TECHNOLOGICAL RESEARCH AND DEVELOPMENT
-
SBIR/STTR SUPPORT PROGRAM - THE ORGANIZATION'S SBIR MATCHING FUND PROGRAM PROVIDES GRANTS TO SELECTED TENNESSEE COMPANIES WHO HAVE RECEIVED FEDERAL SBIR/STTR AWARDS. THE GOAL OF THE SUPPORT EFFORT IS TO ASSIST TENNESSEE COMPANIES IN ACHIEVING HIGHER THAN AVERAGE SUCCESS RATES FOR PHASE I AND PHASE II WINS AND TO PROVIDE FUNDING TO EXPEDITE BRINGING RESEARCH INTO MARKET.
Expenses $7,000,000 · Grants $7,000,000
-
WE FULFILL OUR MISSION IN PART BY PROVIDING FUNDING AND CONNECTIONS TO SEVEN REGIONAL ENTREPRENEUR CENTER PARTNERS LOCATED IN MEMPHIS, JACKSON, NASHVILLE, COOKEVILLE, CHATTANOOGA, KNOXVILLE, AND THE TRI-CITIES AND SIX STATEWIDE INDUSTRY PARTNERS IN INDUSTRIES WHICH ADD VALUE TO THE TENNESSEE ECONOMY INCLUDING ADVANCED ENERGY, AG TECH, CONSUMER PACKAGED GOODS, FINANCIAL TECHNOLOGIES, LIFE SCIENCES, AND MOBILITY.
Expenses $3,313,500 · Grants $3,313,500
-
WE ARE UNIQUELY POSITIONED TO PROVIDE DIRECT INVESTMENT, WHILE ALSO SUPPORTING COLLABORATION AMONG FOUNDERS, INVESTORS, RESEARCHERS, PRIVATE SECTOR INSTITUTIONS AND GOVERNMENT. WE FOSTER ENTREPRENEURSHIP, TECHNOLOGY ADVANCEMENT AND WORKFORCE DEVELOPMENT BY PROVIDING CAPITAL ACCESS, COMMERCIALIZATION SUPPORT, AND CONNECTIONS.
Expenses $2,197,772 · Grants $84,953 · Revenue $324,481
As filed on the 2022 return.
Listed in Part VII
-
Alan BentleyALAN BENTLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Andre J BahouANDRE J BAHOU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sen Bo WatsonSEN BO WATSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Bruce DoegBRUCE DOEG
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Calvin AndersonCALVIN ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dawn PatrickDAWN PATRICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Denny Wayne RobinsonDENNY WAYNE ROBINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr H M HashemianDR H M HASHEMIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Frank WilliamsonFRANK WILLIAMSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Rep Patsy HazelwoodREP PATSY HAZELWOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Shawn GlinterSHAWN GLINTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Stephen CrawfordSTEPHEN CRAWFORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tom BallardTOM BALLARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Stuart McWhorterSTUART MCWHORTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Julia PolkJULIA POLK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ryan EglyRYAN EGLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Susan HubbardDR SUSAN HUBBARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ann Kathryn DettwillerANN KATHRYN DETTWILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Victoria HirschbergVICTORIA HIRSCHBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Benjamin OrgelBENJAMIN ORGEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Brian NolandDR BRIAN NOLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Lindsey CoxLINDSEY COX
PRESIDENT & CEO
- Total calculated
- $157,244
- From this org
- $138,407
- From related orgs
- $0
- Other
- $18,837
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $130,696
- Bonus
- $7,711
- Other
- $0
- Deferred
- $11,195
- Nontaxable benefits
- $7,642
- Filer's total
- $157,244
-
Katherine ReallKATHERINE REALL
FINANCE AND ADMINISTRATION DIRECTOR
- Total calculated
- $217,678
- From this org
- $178,366
- From related orgs
- $0
- Other
- $39,312
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $165,463
- Bonus
- $12,903
- Other
- $0
- Deferred
- $14,667
- Nontaxable benefits
- $24,645
- Filer's total
- $217,678
-
Ashley CurrieASHLEY CURRIE
MARKETING DIRECTOR
- Total calculated
- $149,623
- From this org
- $130,141
- From related orgs
- $0
- Other
- $19,482
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $130,141
- Bonus
- $0
- Other
- $0
- Deferred
- $10,555
- Nontaxable benefits
- $8,927
- Filer's total
- $149,623
-
Khrystopher HatchKHRYSTOPHER HATCH
SENIOR ASSOCIATE
- Total calculated
- $118,200
- From this org
- $100,948
- From related orgs
- $0
- Other
- $17,252
- Hours/week
- 37.5
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
- 3 · Approval by the board or compensation committee
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
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
-
$377,160
PROGRAM EXPENSES FOR NETWORK PARTNERS, INTERNSHIP STIPEND
-
SKYNANO LLC
$308,640
MATCHING GRANTS FOR SBIR/STTR FEDERAL GRANTS, INTERNSHIP STIPEND
-
$305,000
PROGRAM EXPENSES FOR NETWORK PARTNERS, SPONSORSHIP
-
$304,320
PROGRAM EXPENSES FOR NETWORK PARTNERS, INTERNSHIP STIPEND
-
ENDEAVOR COMPOSITES INC
$304,000
MATCHING GRANTS FOR SBIR/STTR FEDERAL GRANTS, MICROGRANT FOR SBIT/STTR PROP. SUPPORT
-
EONIX
$303,600
MICROGRANT FOR SBIR/STTR PROP. SUPPORT, INTERNSHIP STIPEND
-
KNOXVILLE ENTREPRENEURSHIP CENTER
$303,240
PROGRAM EXPENSES FOR NETWORK PARTNERS, INTERNSHIP STIPEND
-
PROGRAM EXPENSES FOR NETWORK PARTNERS, INTERNSHIP STIPEND
-
SYNC SPACE ENTREPRENEUR CENTER
$301,620
PROGRAM EXPENSES FOR NETWORK PARTNERS, INTERNSHIP STIPEND
-
$301,500
PROGRAM EXPENSES FOR NETWORK PARTNERS, SPONSORSHIP
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 7 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202440679349301134
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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