TENNESSEE TECHNOLOGY DEVELOPMENT CORP

EIN: 621765738 501(c)(3) Community Improvement

NASHVILLE, TN

Total Revenue
$17,648,522
Total Expenses
$17,090,256
Total Assets
$37,823,501
Net Assets
$4,177,522
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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
TN
Principal Officer
LINDSEY COX
Phone
6159912809
Tax Period
2024-07-01 to 2025-06-30

TENNESSEE TECHNOLOGY DEVELOPMENT CORP, founded in 1998, is a mid-sized nonprofit in the Community Improvement sector that reported $17.6M in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $17.1M left a modest 3% surplus.

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.

Program Service Accomplishments

Program 1
Expenses: $9,058,991

SBIR/STTR SUPPORT PROGRAM - THE ORGANIZATION'S SBIR MATCHING FUND PROGRAM PROVIDES GRANTS TO SELECTED TENNESSEE COMPANIES WHO HAVE RECEIVED FEDERAL SBIR/STTR AWARDS. THE GOAL OF THE SUPPORT EFFORT IS...

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SBIR/STTR SUPPORT PROGRAM - THE ORGANIZATION'S SBIR MATCHING FUND PROGRAM PROVIDES GRANTS TO SELECTED TENNESSEE COMPANIES WHO HAVE RECEIVED FEDERAL SBIR/STTR AWARDS. THE GOAL OF THE SUPPORT EFFORT IS TO ASSIST TENNESSEE COMPANIES IN ACHIEVING HIGHER THAN AVERAGE SUCCESSRATES FOR PHASE I AND PHASE II WINS AND TO PROVIDE FUNDING TO EXPEDITE BRINGING RESEARCH INTO MARKET.

Program 2
Expenses: $3,131,000

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...

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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.

Program 3
Expenses: $941,009

THE TENNESSEE ADVANCEMENT CONSORTIUM (TTAC) - A STATEWIDE INITIATIVE OFFERING TECHNLOOGY TRANSFER AND COMMERCIALIZATION SUPPORT NETWORK TO EMPOWER FACULTY AND STUDENT INNOVATORS AT TENNESSEE HIGHER...

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THE TENNESSEE ADVANCEMENT CONSORTIUM (TTAC) - A STATEWIDE INITIATIVE OFFERING TECHNLOOGY TRANSFER AND COMMERCIALIZATION SUPPORT NETWORK TO EMPOWER FACULTY AND STUDENT INNOVATORS AT TENNESSEE HIGHER EDUCATION INSTITUTIONS TO BRING THEIR GROUNDBREAKING RESEARCH TO MARKET. WE FULFILL OUR MISSION BY PROVIDING RESOURCES, EXPERTISE AND CONNECTIONS TO BRIDGE THE GAP BETWEEN ACADEMIA AND INDUSTRY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $18,281,548
Program Service Revenue $0
Investment Income $77,253
Other Revenue $-710,279
TOTAL REVENUE $17,648,522

Expense Breakdown

Grants Paid $13,131,000
Salaries & Benefits $2,458,165
Fundraising Expenses $0
Program Expenses $15,902,810
Other Expenses $1,501,091
TOTAL EXPENSES $17,090,256

Year-over-Year Comparison

2024 2023 Change
Revenue $17,648,522 $13,023,314 +0.4%
Expenses $17,090,256 $12,283,617 +0.4%
Net Income $558,266 $739,697 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
19
Employees
27
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
4
$278,239
Total Directors
19
$0
Key Employees
2
$459,310
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE CRAWFORD DIRECTOR 2.00
Director
$0 $0 $0
BENJAMIN ORGEL DIRECTOR 2.00
Director
$0 $0 $0
VICTORIA HIRSCHBERG DIRECTOR 2.00
Director
$0 $0 $0
DR SUSAN HUBBARD DIRECTOR 2.00
Director
$0 $0 $0
RYAN EGLY DIRECTOR 2.00
Director
$0 $0 $0
JULIA POLK DIRECTOR 2.00
Director
$0 $0 $0
JASON SCHMITT DIRECTOR 2.00
Director
$0 $0 $0
SHAWN GLINTER DIRECTOR 2.00
Director
$0 $0 $0
FRANK WILLIAMSON DIRECTOR 2.00
Director
$0 $0 $0
DR HM HASH HASHEMIAN DIRECTOR 2.00
Director
$0 $0 $0
DENNY WAYNE ROBINSON DIRECTOR 2.00
Director
$0 $0 $0
CALVIN ANDERSON DIRECTOR 2.00
Director
$0 $0 $0
SEN BO WATSON DIRECTOR 2.00
Director
$0 $0 $0
ALAN BENTLEY DIRECTOR 2.00
Director
$0 $0 $0
WINSTON JUSTICE DIRECTOR 2.00
Director
$0 $0 $0
DR BRIAN NOLAND DIRECTOR 2.00
Director
$0 $0 $0
LAUREN INGRAM DIRECTOR 2.00
Director
$0 $0 $0
AJ BAHOU SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
STUART MCWHORTER CHAIR 2.00
Officer Director
$0 $0 $0
LINDSEY COX PRESIDENT & CEO 37.50
Officer
$240,425 $37,814 $278,239
BRUCE DOEG VICE CHAIR 2.00
Officer
$0 $0 $0
ELLER KELLIHER CHIEF INVESTMENT OFFICER 37.50
Key Emp
$195,208 $25,813 $221,021
KATHERINE REALL FINANCE & ADMINISTRATION DIRECTOR 37.50
Key Emp
$198,729 $39,560 $238,289
EMILY MASTERS DEVELOPMENT DIRECTOR 37.50
Highest
$151,523 $18,952 $170,475
CHLOE MORRISON COMMUNICATIONS DIRECTOR 37.50
Highest
$105,296 $15,217 $120,513
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 $17,648,522 $17,090,256 $37,823,501 $558,266
2024 $13,023,314 $12,283,617 $32,224,900 $739,697
2023 $13,419,783 $13,375,582 $26,945,258 $44,201
2022 $12,109,273 $12,192,016 $18,062,853 $-82,743
2021 $5,151,930 $4,656,869 $17,450,024 $495,061
2020 $8,326,183 $8,171,372 $16,120,330 $154,811
2019 $6,604,760 $6,219,382 $15,834,114 $385,378
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