Overview
What is Retiree Resources Corporation?
Retiree Resources Corporation (RRC) is a nonprofit organization based in Knoxville, Tennessee. Its primary mission is to support the Tennessee Valley Authority (TVA) in its power and energy mission, as well as watershed management, public recreation, economic and community development, energy education and conservation, and the environmentally responsible use and development of natural resources. RRC achieves this by providing well-trained personnel for short-term staff augmentation to supplement TVA's workforce requirements. These employees are former TVA employees or TVA retirees, and RRC offers them at a cost-effective rate to TVA, thereby lessening the government's burden. RRC is also involved in public outreach educational programs in conjunction with TVA and provides financial support to related tax-exempt organizations with similar charitable purposes. In 2021, RRC provided 502 staff augmentation employees to TVA.
Official website here: www.mybvi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Retiree Resources Corporation has achieved a strong Four-Star rating from Charity Navigator, reflecting its commitment to accountability and financial transparency. The charity's high score is primarily derived from its perfect accountability and finance metrics, indicating effective management of resources. The organization boasts a fully independent board, which enhances its governance structure and decision-making processes.
The charity also excels in various operational aspects, including its conflict of interest policy, whistleblower policy, and thorough documentation practices. With a remarkable program expense ratio of 98.37%, Retiree Resources Corporation demonstrates its dedication to channeling funds directly into its programs and services for the benefit of its constituents.
While the organization shows no material diversions of assets and has a favorable liabilities to assets ratio, it is important for potential donors to consider whether the charity’s specific programs align with their philanthropic goals. Overall, this high rating underscores Retiree Resources Corporation's strong ethical standards and operational efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is Retiree Resources Corporation legitimate?
Retiree Resources Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Retiree Resources Corporation 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: $41,202,172
For more financial information, click here
Official website here: www.mybvi.org
What is the mission statement of Retiree Resources Corporation?
The Retiree Resources Corporation (RRC) exists to assist the Tennessee Valley Authority (TVA) in achieving its mission by supplying qualified personnel for staff augmentation. This collaboration enables TVA to effectively manage its workforce requirements in various sectors such as power and energy, watershed management, and public recreation. RRC's team consists primarily of former TVA employees or retirees, allowing for a cost-effective solution and a smooth transition for both parties. In addition to staffing services, RRC participates in public outreach educational programs alongside TVA. Furthermore, RRC extends its support to tax-exempt organizations with charitable purposes similar to its own, contributing to a wider impact in the community. In the year 2021, RRC provided 502 staff augmentation employees to TVA.
Official website here: www.mybvi.org
Who is the CEO of Retiree Resources Corporation?
Katherine Black is the Secretary of Retiree Resources Corporation.
Official website here: www.mybvi.org
What is the revenue of Retiree Resources Corporation?
Retiree Resources Corporation's revenue in 2022 was $47,977,024.
Official website here: www.mybvi.org
Who are the executives of Retiree Resources Corporation and what are their salaries?
The average compensation at Retiree Resources Corporation during 2022 was $82,076. There are 502 employees at Retiree Resources Corporation.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $46,675
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $175,022
- Other: $13,000
- Compensation: $248,490
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- Other: $0
- Compensation: $265,230
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- Other: $0
- Compensation: $256,005
- Related: $0
- Other: $0
- Compensation: $238,504
- Related: $0
- Other: $0
- Compensation: $229,431
- Related: $0
- Other: $0
Official website here: www.mybvi.org
Where can I find the form 990 for Retiree Resources Corporation?
Retiree Resources Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mybvi.org
Learn more at the official website: www.mybvi.org
Mission Statement of Retiree Resources Corporation
Retiree Resources Corporation (RRC) is a corporation dedicated to assisting the Tennessee Valley Authority (TVA) in accomplishing its mission in various sectors, including power and energy, watershed management, public recreation, economic and community development, energy education and conservation, and environmentally responsible use and development of natural resources. RRC achieves this objective by providing well-trained personnel for short-term staff augmentation, supplementing TVA's workforce requirements at cost-effective rates. The employees of RRC are predominantly former TVA employees or TVA retirees.
By offering staffing solutions, RRC alleviates some of the burden on the government. In addition to supplying personnel, RRC is also involved in public outreach educational programs in collaboration with TVA. Furthermore, RRC extends its support to other tax-exempt organizations whose charitable purposes align or complement those engaged in by RRC. In 2021, RRC provided staff augmentation services to TVA, employing 502 individuals.
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Impact
October, 2024
Retiree Resources Corporation significantly enhances the operational capacity of the Tennessee Valley Authority (TVA) by supplying qualified personnel to meet workforce demands. The organization focuses primarily on providing short-term staff augmentation, drawing from a pool of former TVA employees and retirees. This strategic approach ensures that TVA can efficiently accomplish its mission related to power, energy, and environmental stewardship while minimizing government expenditure.
In 2021 alone, RRC supplied a total of 502 staff augmentation employees, effectively bolstering TVA's workforce without the burdensome costs typically associated with hiring. This not only aids TVA in its critical functions—such as watershed management, energy education, and community development—but also aligns with RRC's commitment to responsible resource utilization and public service.
Moreover, RRC engages in public outreach educational programs in partnership with TVA, fostering greater awareness and understanding of energy conservation and environmental issues within the community. Additionally, RRC provides financial support to tax-exempt organizations that share similar objectives, extending its impact beyond direct workforce augmentation to encompass broader community initiatives. Through these efforts, Retiree Resources Corporation plays a vital role in advancing TVA's mission and promoting sustainable practices in the region.
This information is meant to be a general summary of Retiree Resources Corporation. 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: $3,426
- Program Service Revenue: $47,973,598
- Gross Receipts: $47,977,024
Assets and Liabilities:
- Total Assets: $5,525,624
- Total Liabilities: $2,721,315
- Net Assets: $2,804,309
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE - RELATED
Revenue
$47,973,598
Organization Details
Founding Year
2001
Phone
(865) 632-8088Principal Officer
Katherine Black
Main Address
400 W SUMMIT HILL DRIVE WT8C, KNOXVILLE, TN, 37902
Website
www.mybvi.orgNTEE Category
Code: M202 - Public safety
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