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Nonprofiteer
← CHEROKEE FARM DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by CHEROKEE FARM DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,152,870
Total expenses
$911,974
Contributions and grants received
$987,103
Grants paid
$0
Program service revenue
$165,767
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,889,442
Total liabilities, end of year
$57,311
Net assets or fund balances, end of year
$1,832,131
Program services expenses (Part IX)
$911,974
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$911,974

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $174,429

  • 1f · All other contributions, gifts and grants

    $812,674

  • 2a · Program service revenue: GROUND LEASE

    total $134,490 · related or exempt $134,490

  • 2b · Program service revenue: CONSULTING INCOME

    total $31,277 · related or exempt $31,277

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $319,938 · program services $319,938

  • 7 · Other salaries and wages

    total $115,533 · program services $115,533

  • 9 · Other employee benefits

    total $14,015 · program services $14,015

  • 10 · Payroll taxes

    total $24,857 · program services $24,857

  • 11a · Fees: management

    total $161,106 · program services $161,106

  • 11b · Fees: legal

    total $89,093 · program services $89,093

  • 12 · Advertising and promotion

    total $20,683 · program services $20,683

  • 13 · Office expenses

    total $9,812 · program services $9,812

  • 17 · Travel

    total $4,677 · program services $4,677

  • 23 · Insurance

    total $69,313 · program services $69,313

  • 24a · Other expenses: DEVELOPMENT EXPENSE

    total $65,645 · program services $65,645

  • 24b · Other expenses: EVENT EXPENSE

    total $6,411 · program services $6,411

  • 24c · Other expenses: MEALS AND ENTERTAINMENT

    total $6,097 · program services $6,097

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $2,223 · program services $2,223

  • 24e · All other expenses

    total $2,571 · program services $2,571

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,790 · end of year $226,571

  • 4 · Accounts receivable

    beginning of year $187,818 · end of year $215,053

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,691 · end of year $4,126

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

    $1,739

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

    $1,739

  • 15 · Other assets

    beginning of year $1,382,037 · end of year $1,443,692

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,101 · end of year $57,311

  • 27 · Net assets without donor restrictions

    beginning of year $1,492,116 · end of year $1,714,156

  • 28 · Net assets with donor restrictions

    beginning of year $99,119 · end of year $117,975

Mission and programs · 2022

Mission

SUPPORT AND ENHANCE THE UNIVERSITY OF TENNESSEE THROUGH DEVELOPMENT AND OPERATION OF THE UNIVERSITY OF TENNESSEE RESEARCH PARK AT CHEROKEE FARM INNOVATION CAMPUS.

  • SUPPORT AND ENHANCE THE UNIVERSITY OF TENNESSEE THROUGH DEVELOPMENT AND OPERATION OF THE UNIVERSITY OF TENNESSEE RESEARCH PARK AT CHEROKEE FARM INNOVATION CAMPUS.

    Expenses $911,974 · Revenue $165,767

As filed on the 2022 return.

Listed in Part VII

  • Tom Rogers

    PRESIDENT AN

    Total calculated
    $197,610
    From this org
    $179,610
    From related orgs
    $0
    Other
    $18,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,610
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,000
    Nontaxable benefits
    not reported
    Filer's total
    $197,610

  • Rickey McCallum

    VICE PRESIDE

    Total calculated
    $98,393
    From this org
    $86,657
    From related orgs
    $0
    Other
    $11,736
    Hours/week
    40

  • Angelee Day

    COO

    Total calculated
    $61,928
    From this org
    $53,671
    From related orgs
    $0
    Other
    $8,257
    Hours/week
    40

  • Harry Boston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brandon Bruce

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lori Chamberlain

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Deborah Crawford

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Victoria Hirschberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Hoagland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Mahalaxmi Krishnamurthy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sharon Pryse

    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. 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 · Written employment contract
  • 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

No itemized grants to organizations on this return.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHEROKEE FARM PROPERTIES INC

    C CORP · RENT · TN · 100% owned · share of income $67,131 · share of assets $1,190,443 · controlled entity

  • TENNERA LLC

    C CORP · BIOFUELS · TN

    Directly controlled by UTRF

  • C3 INNOVATE INC

    C CORP · RESEARCH · TN

    Directly controlled by CCS

Provenance

Return type
form_990
Tax year
2022
Filed
11 April 2024
IRS schema version
2022v5.0
Source object
202401039349302155

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