THE DEVELOPMENT CORPORATION OF KNOX COUNTY (EIN 581966772) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

MIKE ODOM

Phone

8655465887

Tax Period

2022-07-01 to 2023-06-30

THE DEVELOPMENT CORPORATION OF KNOX COUNTY, founded in 1991, is a small nonprofit in the Community Improvement sector that reported $633K in total revenue in fiscal year 2022. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 235% operating deficit.

Mission

THE DEVELOPMET CORPORATION WILL REPRESENT THE GREATER KNOXVILLE AREA IN MANAGING AND ALLOCATING LAND AND OTHER RESOURCES TO STRATEGICALLY PROMOTE LONG-TERM QUALITY BUSINESS DEVELOPMENT SPECIFICALLY, THE DEVELOPMENT CORPORATION WILL WORK WITH INTERESTED BUSINESSES, CREATE BUSINESS AND INDUSTRIAL LOCATION OPPORTUNITIES, ASSIST EXISTING BUSINESSES WITH LAND AND TRAINING NEEDS, FOSTER ENTREPRENEURIAL JOB CREATION, INCLUDING MANAGEMENT OF KNOX COUNTY'S BUSINESS INCUBATOR, FAIRVIEW TECHNOLOGY CENTER, AND ENSURE ALLOCATION OF RESOURCES FOR THE ENHANCEMENT OF THE LONG-TERM ECONOMIC CLIMATE FOR KNOXVILLE AND KNOX COUNTY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $410,548

Program Service Revenue $215,483

Investment Income $6,727

Other Revenue $0

TOTAL REVENUE $632,758

Expense Breakdown

Grants Paid $0

Salaries & Benefits $50,120

Fundraising Expenses $0

Program Expenses $1,936,986

Other Expenses $2,068,892

TOTAL EXPENSES $2,119,012

Year-over-Year Comparison

	2022	2021	Change
Revenue	$632,758	$1,693,343	-0.6%
Expenses	$2,119,012	$1,009,283	+1.1%
Net Income	$-1,486,254	$684,060	-3.2%

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

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
M DOUGLAS CAMPBELL JR	VICE CHAIRMAN	2.00	Director	$0	$0	$0
GEORGE H HEINS III	CHAIRMAN	2.00	Director	$0	$0	$0
NANCY BARGER	DIRECTOR	2.00	Director	$0	$0	$0
CAROLYN FAIRBANK	SECRETARY/TREASURER	2.00	Director	$0	$0	$0
INDYA KINCANNON	DIRECTOR	2.00	Director	$0	$0	$0
LOUISE FRAZIER	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES MORRIS	DIRECTOR	2.00	Director	$0	$0	$0
GLENN JACOBS	DIRECTOR	2.00	Director	$0	$0	$0
COURTNEY DURRETT	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM F FOX	DIRECTOR	2.00	Director	$0	$0	$0
TERRY MOSLEY	DIRECTOR	2.00	Director	$0	$0	$0
MAYOR RON WILLIAMS	DIRECTOR - NON VOTING	2.00	Director	$0	$0	$0
TERRY HILL	VICE CHAIRMAN	2.00	Director	$0	$0	$0
LARSEN JAY	DIRECTOR	2.00	Director	$0	$0	$0
MIKE ODOM	INTERIM PRESIDENT & CEO	46.00	Officer	$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
2023	$632,758	$2,119,012	$42,516,150	$-1,486,254
2022	$1,693,343	$1,009,283	$44,037,892	$684,060
2021	$1,290,575	$956,628	$44,277,793	$333,947
2020	$1,402,856	$1,034,917	$44,156,246	$367,939
2019	$1,711,835	$1,019,153	$44,191,557	$692,682
2018	$3,693,287	$943,913	$41,859,351	$2,749,374

THE DEVELOPMENT CORPORATION OF KNOX COUNTY