Tennessee Community Assistance Corporation

Nonprofit profile at a glance

EIN
621796161
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Morristown, TN, USA
Phone
4235867636
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$3,124,496
Expenses
$3,002,854
Assets
$2,921,283
Liabilities
$833,215

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

Leadership & pay

9 people listed

Highest reported compensation

  • KRYSTAL GIBBONS (EXEC DIRECTO): $75,538 total reported compensation

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

Overview

Mission

The purpose of this organization is to promote economic development and conduct activities in low-income communities of Tennessee, particularly public assisted housing residents, in order to assist the residents in becoming self-sufficient and provide necessary services to those families and individuals that will improve their quality of life.

What it reported doing in 2024

The home program is a competitively-funded program by hud and administered within Tennessee by the Tennessee housing development agency. Eligible homeowners to receive repairs/new homes must be low income households, the home must be their primary residence, and own their property. The work is performed by licensed contractors and homeowners receive a 5-15 year forgivable grant note as long as they remain in their home during the term. It also provides an avenue for low-income individuals to qualify for a home mortgage in order to purchase a new home.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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: 85
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.6%; rating input score 95
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 11.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 94.6% of revenue deployed · 97.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.9M in reported program spending
  • Leadership: top reported pay $76K · 9 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.