Overview
What is The Development Corporation Of Knox County?
The Development Corporation of Knox County is a nonprofit organization situated in Knoxville, Tennessee. Its primary mission is to facilitate long-term business development in the area by managing and allocating land and resources strategically. The corporation achieves this goal by collaborating with potential businesses, creating location opportunities, assisting existing businesses with land and training needs, fostering entrepreneurial job creation, and managing the Knox County Business Incubator, Fairview Technology Center. The Development Corporation also manages several quasigovernmental boards, contributing to job retention and growth, capital investment in Knox County, and special projects aimed at benefiting the county's citizens. In addition to these activities, the corporation currently owns and develops several business parks, such as Midway Business Park and Karns Valley Business Park, and manages properties like the Centerpoint Business Park and Eastbridge Business Park to attract new businesses and support the expansion of existing ones.
Official website here: www.knoxdevelopment.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating.
The Development Corporation of Knox County has received an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 100% in this category, indicating a high level of transparency and sound financial management practices. The data suggests that it has a majority of independent board members, which enhances governance and trustworthiness.
The nonprofit showcases an excellent track record in financial reporting, with an audit receiving full marks. It has also implemented several essential policies, including conflict of interest and whistleblower policies, which contribute to its operational integrity. The program expense ratio of 81.09% further indicates a commitment to effectively utilizing funds for its mission-driven programs.
Overall, the Development Corporation of Knox County demonstrates strong organizational strengths, particularly in governance and financial responsibility. However, no specific limitations were noted in the available data, suggesting a well-managed organization poised for positive impact in its community.
This AI summary has been generated from information found on Charity Navigator.
Is The Development Corporation Of Knox County legitimate?
The Development Corporation Of Knox County is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Development Corporation Of Knox County 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $185,508
For more financial information, click here
Official website here: www.knoxdevelopment.org
What is the mission statement of The Development Corporation Of Knox County?
The Development Corporation of Knox County serves to represent its area strategically, promoting long-term quality business development. This is accomplished by collaborating with interested businesses, creating business and industrial location opportunities, assisting existing businesses with land and training needs, and fostering entrepreneurial job creation. The corporation manages Knox County's business incubator, the Fairview Technology Center, and ensures the allocation of resources for enhancing the long-term economic climate. Their primary goal is to contribute positively to the economic growth and development of the community.
Official website here: www.knoxdevelopment.org
Who is the CEO of The Development Corporation Of Knox County?
Mike Odom is the Vice Chairman of The Development Corporation Of Knox County. The CEO's salary of The Development Corporation Of Knox County is $0 and their total compensation is $0.
Official website here: www.knoxdevelopment.org
What is the revenue of The Development Corporation Of Knox County?
The Development Corporation Of Knox County's revenue in 2022 was $1,693,343.
Official website here: www.knoxdevelopment.org
Who are the executives of The Development Corporation Of Knox County and what are their salaries?
The average compensation at The Development Corporation Of Knox County during 2022 was $46,377. There are 4 employees at The Development Corporation Of Knox County.
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Official website here: www.knoxdevelopment.org
Where can I find the form 990 for The Development Corporation Of Knox County?
The Development Corporation Of Knox County's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.knoxdevelopment.org
Learn more at the official website: www.knoxdevelopment.org
Mission Statement of The Development Corporation Of Knox County
The Development Corporation of Knox County, a key representative for the greater Knoxville area, is committed to strategically promoting long-term quality business development. Its mission involves managing and allocating land and resources in a manner that encourages the growth of businesses and industries. The organization works collaboratively with interested businesses, creating opportunities for business and industrial locations. Additionally, it assists existing businesses with land and training needs, fostering entrepreneurial job creation. The Development Corporation of Knox County oversees the management of Knox County's Business Incubator, Fairview Technology Center, ensuring the allocation of resources for the enhancement of the long-term economic climate for Knoxville and Knox County.
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Impact
July, 2024
The Development Corporation of Knox County plays a crucial role in promoting long-term quality business development in the Greater Knoxville area. By managing and allocating land and resources strategically, the corporation helps create opportunities for new businesses, facilitates the expansion of existing businesses, and fosters entrepreneurial job creation. Additionally, TDC owns and manages various business parks and properties, providing essential support for economic growth in Knox County. Through its programs and services, the corporation aims to attract capital investment, drive job creation, and enhance the economic climate of Knoxville and Knox County, ultimately contributing to the community's overall improvement.
This information is meant to be a general summary of The Development Corporation Of Knox County. 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 2022.
- Investment Income: $487,117
- Program Service Revenue: $334,427
- Gross Receipts: $2,082,995
Assets and Liabilities:
- Total Assets: $44,037,892
- Total Liabilities: $685,009
- Net Assets: $43,352,883
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL AND MANAGEMENT
Revenue
$334,427
Organization Details
Founding Year
1991
Phone
(865) 546-5887Principal Officer
Mike Odom
Main Address
17 MARKET SQUARE 201, KNOXVILLE, TN, 379021405
Website
www.knoxdevelopment.orgNTEE Category
Code: S31Z - Community improvement
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