Overview
What is Tennessee Technology Development Corp?
Tennessee Technology Development Corp, also known as Launch Tennessee, is a nonprofit organization located in Nashville, Tennessee. With a team of 22 employees, they focus on stimulating economic activity through the development of technological research and innovation. Their primary mission is to support entrepreneurs in Tennessee, from the ideation phase to exit. They accomplish this through a public-private partnership and a competitive SBIR/STTR support program. This program financially backs selected applicants in Tennessee, increasing their chances of winning Phase I and II grants in the SBIR/STTR program. The goal is for Tennessee firms to achieve win rates that exceed the national averages and for Phase I winners to progress to Phase II.
Official website here: www.launchtn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Tennessee Technology Development Corp has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. A significant part of their score comes from their strong fiscal oversight practices, with an impressive program expense ratio of 91.18%, showing that a large majority of funds are directed towards their programs.
The organization demonstrates a robust governance structure, with a fully independent board comprising 21 members and comprehensive policies on conflict of interest, whistleblowing, and document retention. These practices contribute to the organization's accountability and transparency, which are essential for building trust with donors and stakeholders.
However, while the organization scores well in various aspects of accountability and finance, there is no additional information provided about its programmatic impact or effectiveness. This aspect may be an area of interest for potential donors looking to understand the tangible outcomes of the organization's initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Tennessee Technology Development Corp legitimate?
Tennessee Technology Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tennessee Technology 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: $219,205
Professional Fundraising Fees: $0
Other Salaries and Wages: $809,851
For more financial information, click here
Official website here: www.launchtn.org
What is the mission statement of Tennessee Technology Development Corp?
The Tennessee Technology Development Corp is dedicated to fostering economic activity through technological research and development. Through Launch Tennessee, a public-private partnership, the organization supports entrepreneurs from the ideation stage to business exit. Their goal is to make Tennessee the most startup-friendly state in the nation. The SBIR/STTR support program is a competitive application process designed to financially back selected applicants in Tennessee. This innovative program aims to give highly qualified applicants the best possible chance to succeed in the SBIR/STTR program, with the objective of achieving win rates that are at least double the national averages for Phase I and Phase II. The ultimate goal is to help Phase I winners become Phase II winners.
Official website here: www.launchtn.org
Who is the CEO of Tennessee Technology Development Corp?
Lindsey Cox is the Secretary of Tennessee Technology Development Corp. The CEO's salary of Tennessee Technology Development Corp is $0 and their total compensation is $0.
Official website here: www.launchtn.org
What is the revenue of Tennessee Technology Development Corp?
Tennessee Technology Development Corp's revenue in 2022 was $12,109,273.
Official website here: www.launchtn.org
Who are the executives of Tennessee Technology Development Corp and what are their salaries?
The average compensation at Tennessee Technology Development Corp during 2022 was $46,775. There are 22 employees and 50 volunteers at Tennessee Technology Development Corp.
Here are 24 key members and their salaries (Tennessee Technology Development Corp's CEO's salary is $0 and their total compensation is $0):
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Official website here: www.launchtn.org
Where can I find the form 990 for Tennessee Technology Development Corp?
Tennessee Technology Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.launchtn.org
Learn more at the official website: www.launchtn.org
Mission Statement of Tennessee Technology Development Corp
Tennessee Technology Development Corp, or TTDC, is a public-private partnership dedicated to fostering economic activity in Tennessee through the development of technological research and development. With a vision to make Tennessee the most startup-friendly state in the nation, TTDC offers various support programs, one of which is the SBIR/STTR program. This competitive application process is designed to financially back selected SBIR/STTR applicants in Tennessee, giving them the best possible chance to succeed in the SBIR/STTR program. TTDC's goal is to help Tennessee firms achieve win rates for Phase I and Phase II that are at least double the national averages. By providing extensive support, TTDC aims to ensure that Phase I winners become Phase II winners. TTDC's innovative approach to entrepreneurship empowers Tennessee-based businesses to thrive in the competitive SBIR/STTR landscape.
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Impact
October, 2024
Tennessee Technology Development Corp plays a pivotal role in driving economic activity through technological research and development. One of its key initiatives is the SBIR/STTR Support Program, which offers critical financial support to qualifying applicants within the state. This competitive application process aims to enhance Tennessee firms' chances of success in securing funding through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
By providing targeted assistance, the organization strives to achieve win rates for Tennessee-based applicants that are at least double the national averages for both Phase I and Phase II awards. This not only bolsters the local economy but also fosters innovation and entrepreneurship throughout the region. With the goal of ensuring that Phase I winners progress to Phase II success, the Tennessee Technology Development Corp significantly contributes to establishing a robust startup ecosystem.
The broader mission of Launch Tennessee, which collaborates with Tennessee Technology Development Corp, aims to cultivate an environment that supports entrepreneurs at every stage of their journey, from initial idea to successful exit. This comprehensive approach positions Tennessee as one of the most startup-friendly states in the nation, ultimately enhancing community development and technological advancement across the state.
This information is meant to be a general summary of Tennessee Technology 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 2022.
- Investment Income: $4,480
- Program Service Revenue: $131,700
- Gross Receipts: $12,109,273
Assets and Liabilities:
- Total Assets: $18,062,853
- Total Liabilities: $15,227,494
- Net Assets: $2,835,359
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE REVENUE
Revenue
$96,700
SPONSORSHIP/PROGRAM REVENUE
Revenue
$35,000
Organization Details
Founding Year
1998
Phone
(615) 673-4419Principal Officer
Lindsey Cox
Main Address
1321 6TH AVE N, NASHVILLE, TN, 37208
Website
www.launchtn.orgNTEE Category
Code: S30 - Community improvement
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