Tennessee Government Finance Officers Association
Nonprofit profile at a glance
- EIN
- 900535389
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-N 2023
- Location
- Seymour, TN, USA
- Phone
- 8657554912
- Rating
- 38
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Professional Societies, Associations
Reported finances
- Revenue
- $262,096
- Expenses
- $243,208
- Assets
- $391,449
- Liabilities
- $12,030
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Sandra Allen (Former Executive Director)
- Karen Bell (Executive Director)
- Kari Bates (President)
- William Daughtry (First Vice President)
- Margaret Wilson (Second Vice President)
- Kristine Brock (Immediate Past President)
Highest reported compensation
- Sandra Allen (Former Executive Director): $40,000 total reported compensation
- Karen Bell (Executive Director): $21,875 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our Mission Statement: Enhancing Governmental Finance in Tennessee HISTORY AND PURPOSE TGFOA was formed in 2008. Our purpose is to promote the interests of governmental finance professionals of state, county, municipal, school, utility, and other governmental entities of the State of Tennessee and the respective entities they represent by: 1. Developing a closer relationship and understanding among public officials whose responsibilities and duties involve state and local financial issues and the discussion, analysis and solutions of such challenges under the laws existing in Tennessee; 2. Extending the movement for adequate procedures of accounting, budgeting, planning and financial reporting by state and local governments; 3. Developing and promoting general principles of economy and efficiency in the operations of state and local governments; 4. Promoting continuing educational programs for public finance officials and employees; and promoting other governmental certification.
What it reported doing in 2024
Spring conference for continuing education for government finance officers in the state of Tennessee.
Operating model
- Revenue model
- Other-operating. 96% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
REVIEW - 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: 0
- Transparency & Controls: 66
- Accountability: 79
- Sustainability: 47
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- 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; 63rd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 7.2%; rating input score 55; 55th percentile among comparable filings
- Total-asset coverage ratio: 1.61; rating input score 53; 53rd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 25.4%; rating input score 14; 14th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $162K in reported program spending
- Leadership: top reported pay $40K · 8 people listed · 1 of 6 pay-setting controls reported
- Consistency: 10 of 11 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Contacts: How to reach this organization
- Money network: 2 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Sustainability: Operating margin scored 55/100.
- Review — Sustainability: Total-asset coverage ratio scored 53/100.
- High — Sustainability: Officer compensation ratio scored 14/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.