Tennessee Technology Development Corp
Nonprofit profile at a glance
- EIN
- 621765738
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Nashville, TN, USA
- Phone
- 6159912809
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $17,648,522
- Expenses
- $17,090,256
- Assets
- $37,823,501
- Liabilities
- $33,645,979
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- LINDSEY COX (PRESIDENT & CEO)
Highest reported compensation
- LINDSEY COX (PRESIDENT & CEO): $278,239 total reported compensation
- KATHERINE REALL (FINANCE & ADMINISTRATION DIRECTOR): $238,289 total reported compensation
- ELLER KELLIHER (CHIEF INVESTMENT OFFICER): $221,021 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Launch Tennessee is a 501c3 that supports the startup ecosystem through capital, connections and commercialization. As a public-private partnership, we are uniquely positioned to provide direct investment, while also supporting collaboration among founders, investors, researchers, the private sector and government.
What it reported doing in 2024
We fulfill our mission in part by providing funding and connections to seven regional entrepreneur center partners located in memphis, jackson, nashville, cookeville, chattanooga, knoxville, and the tri-cities and six statewide industry partners in industries which addvalue to the Tennessee economy including advanced energy, ag tech, consumer packaged goods, financial technologies, life sciences, and mobility.
Operating model
- Revenue model
- Grant-funded. 95% of the money available for current operations came from government grants.
- Distribution model
- Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 70
- Accountability: 100
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.6%; rating input score 90
- Program expense ratio: 93.1%; rating input score 93
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.2%; rating input score 88; 2nd 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: 98.9%; rating input score 99; 31st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.2%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 2.21; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 43; 43rd percentile among comparable filings
Growth
- Program expense growth: 13.2% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 13.5% per year; rating input score 100; 84th percentile among comparable filings
- Asset growth: 5.2% per year; rating input score 100; 37th percentile among comparable filings
Details
- Where the money goes: 89.6% of revenue deployed · 93.1% of spending went to programs
- Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $15.9M in reported program spending
- Leadership: top reported pay $278K · 25 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $422K reported
- Consistency: 33 of 35 current checks pass · 2 findings to review
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 74 filed money-flow records
- Related organizations: 69 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.
- 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.
- Moderate — Sustainability: Operating margin scored 47/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 43/100.