Southeast Industrial Development Association

Nonprofit profile at a glance

EIN
621410505
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Chattanooga, TN, USA
Phone
4234244204
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$537,780
Expenses
$459,509
Assets
$1,689,085
Liabilities
$696

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MIKE PARTIN (President/CEO, Board Chair)
  • CHUCK HAMMONDS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHUCK HAMMONDS (EXECUTIVE DIRECTOR): $5,000 total reported compensation

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

Overview

Mission

Create jobs through the attraction of new business and industry and through the expansion of existing industry in the power-served area of the Tennessee valley authority, encompassing 22 counties of three states in the chattenooga area of Georgia, North Carolina, and Tennessee.

What it reported doing in 2025

All program expenses are for industrial recruiting to attract more jobs to the chattanooga, Tennessee area.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 69
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.3%; rating input score 30
  • Program expense ratio: 26.2%; rating input score 26
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 3.68; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 30.3% of revenue deployed · 26.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $120K in reported program spending
  • Leadership: top reported pay $5K · 14 people listed
  • Highest-paid contractors: 1 contractor listed · $252K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.