Cherokee Farm Development Corp

Nonprofit profile at a glance

EIN
461180603
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Knoxville, TN, USA
Phone
8659748210
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Official website

Reported finances

Revenue
$1,910,613
Expenses
$1,236,285
Assets
$3,759,878
Liabilities
$724,548

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • BRETT MALONE (PRESIDENT AN)

Highest reported compensation

  • BRETT MALONE (PRESIDENT AN): $97,804 total reported compensation
  • RICKEY MCCALLUM (VICE PRESIDE): $62,150 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support and enhance the university of Tennessee through development and operation of the university of Tennessee research park at cherokee farm innovation campus.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.3%; rating input score 65
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 35.3%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 3.04; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 14.9% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 65.3% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $98K · 12 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and related organizations
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.