NORTHEAST TENNESSEE ECONOMIC DEVEL… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

KEN REA

Phone

4239280224

Tax Period

2023-07-01 to 2024-06-30

NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION, founded in 1982, is a small nonprofit that reported $132K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $44K, a strong 33% operating margin.

Mission

CREATED TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING LOAN PROGRAMS FOR BUSINESSES.

Program Service Accomplishments

Program 1

Expenses: $87,594

MULTIPLE LOAN FUNDS AND PROGRAMS HAVE BEEN ESTABLISHED BY NETEDC TO ASSIST BUSINESSES THROUGH FIXED AND PERMANENT WORKING CAPITAL FINANCING. OVERALL, 156 LOANS HAVE BEEN MADE THROUGH THESE PROGRAMS IN THE AMOUNT OF $10.6 MILLION DOLLARS, AND THE COMPANIES INVOLVED HAVE CREATED JOBS IN THE REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $110,697

Investment Income $20,921

Other Revenue $0

TOTAL REVENUE $131,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $87,594

Other Expenses $87,594

TOTAL EXPENSES $87,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$131,618	$110,233	+0.2%
Expenses	$87,594	$96,579	-0.1%
Net Income	$44,024	$13,654	+2.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN REA	EXECUTIVE DIRECTOR	10.00	Officer Director	$0	$0	$0
SUSAN REID	SECRETARY	1.00	Officer Director	$0	$0	$0
AL SPRITZER	DIRECTOR	1.00	Director	$0	$0	$0
RICK STOREY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN DIXON	DIRECTOR	1.00	Director	$0	$0	$0
TOM OLTERMAN	DIRECTOR	1.00	Director	$0	$0	$0
STEVE MEARS	DIRECTOR	1.00	Director	$0	$0	$0
DICK GRAYSON	DIRECTOR	1.00	Director	$0	$0	$0
MIKE HILL	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$131,618	$87,594	$3,377,546	$44,024
2023	$110,233	$96,579	$3,338,754	$13,654
2022	$819,801	$47,343	$3,372,963	$772,458
2021	$318,863	$34,484	$2,154,069	$284,379

NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION