Middle Tennessee Industrial Development Association

Nonprofit profile at a glance

EIN
620676077
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Nashville, TN, USA
Phone
6152695233
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,214,647
Expenses
$1,125,363
Assets
$1,402,570
Liabilities
$77,381

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

38 people listed

Executive titles in this filing

  • JENNIFER BROGDON (PRESIDENT)

Highest reported compensation

  • ROBERT T BIBB (EXECUTIVE DI): $174,472 total reported compensation
  • KENDRICK J CURTIS (EXECUTIVE DI): $123,765 total reported compensation
  • MATT VON LUNEN (ASSISTANT DI): $95,799 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide industrial development services in the middle Tennessee area.

Operating model

Revenue model
Membership-supported. 87% of the money available for current operations came from membership dues.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 71
  • Accountability: 74
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: $23.49 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 7.4%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 35%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 83.4% of spending went to programs
  • Governance: 35 of 35 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $939K in reported program spending
  • Leadership: top reported pay $174K · 38 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.