Overview
What is Cherokee Farm Development Corp?
Cherokee Farm Development Corp is a nonprofit organization located at 2641 Osprey Vista Way, Knoxville, Tennessee 37920. Their primary mission is to support and enhance the University of Tennessee by developing and operating the University of Tennessee Research Park at Cherokee Farm Innovation Campus. This initiative aims to foster growth and innovation within the academic community, contributing to the broader advancement of research and development in the region. The corporation is led by a team of four dedicated individuals.
Official website here: www.tnresearchpark.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Cherokee Farm Development Corp has received a commendable score of 88%, indicating a solid performance in accountability and finance. The organization boasts a fully independent board, which is a positive sign for governance, and it is transparent about its financial statements, having received full marks in that area. Moreover, it demonstrates effective financial management with a low liabilities to assets ratio and an impressive program expense ratio of 100%, signifying that all of its expenses are directed towards its programs.
However, the organization has some noted limitations, particularly concerning its governance policies. Cherokee Farm Development Corp is missing essential documents such as a whistleblower policy and a document retention and destruction policy, which could raise concerns about transparency and accountability. Additionally, the tax form is not posted on the nonprofit's website, which is another area for improvement in terms of public accessibility of information.
Overall, while Cherokee Farm Development Corp showcases strong financial practices and governance through its independent board and program focus, addressing its policy gaps would enhance its accountability and trustworthiness among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Cherokee Farm Development Corp legitimate?
Cherokee Farm Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cherokee Farm Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $275,665
Professional Fundraising Fees: $0
Other Salaries and Wages: $296,352
For more financial information, click here
Official website here: www.tnresearchpark.org
What is the mission statement of Cherokee Farm Development Corp?
The Cherokee Farm Development Corporation's mission is centered around supporting and enhancing the University of Tennessee. They achieve this by overseeing the development and operation of the University of Tennessee Research Park at Cherokee Farm Innovation Campus. This initiative aims to foster a conducive environment for research and innovation, ultimately contributing to the University's growth and development. The corporation's activities are geared towards advancing academic research and fostering a culture of innovation.
Official website here: www.tnresearchpark.org
What is the revenue of Cherokee Farm Development Corp?
Cherokee Farm Development Corp's revenue in 2024 was $1,644,982.
Official website here: www.tnresearchpark.org
Who are the executives of Cherokee Farm Development Corp and what are their salaries?
The average compensation at Cherokee Farm Development Corp during 2024 was $114,403. There are 5 employees at Cherokee Farm Development Corp.
Here are 13 key members and their salaries:
- Compensation: $134,035
- Related: $0
- Other: $18,000
- Compensation: $92,316
- Related: $0
- Other: $12,037
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
Official website here: www.tnresearchpark.org
Where can I find the form 990 for Cherokee Farm Development Corp?
Cherokee Farm Development Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.tnresearchpark.org
Learn more at the official website: www.tnresearchpark.org
Mission Statement of Cherokee Farm Development Corp
Cherokee Farm Development Corporation is dedicated to enhancing the University of Tennessee through the development and operation of the University of Tennessee Research Park at Cherokee Farm Innovation Campus. This nonprofit organization's mission is to support the academic institution by fostering a conducive environment for research and innovation. By managing this research park, Cherokee Farm Development Corporation aims to contribute to the University of Tennessee's growth and development, ultimately benefiting the wider academic community. The organization's activities are centered around the operation and advancement of the research park, which serves as a hub for intellectual exploration and technological progress.
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Impact
July, 2024
Cherokee Farm Development Corp's impact is centered around supporting and enhancing the University of Tennessee through the development and operation of the University of Tennessee Research Park at Cherokee Farm Innovation Campus. This initiative plays a crucial role in fostering education, research, and innovation in Knoxville, Tennessee.
This information is meant to be a general summary of Cherokee Farm Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $5,293
- Program Service Revenue: $191,500
- Gross Receipts: $1,644,982
Assets and Liabilities:
- Total Assets: $1,644,336
- Total Liabilities: $53,101
- Net Assets: $1,591,235
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUND LEASE
Revenue
$134,492
CONSULTING INCOME
Revenue
$57,008
Organization Details
Founding Year
2011
Principal Officer
Brett Malone
Website
www.tnresearchpark.orgNTEE Category
Code: B194 - Education
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