Special Olympics Tennessee
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$2,186,200.00
Projected Expenses
$2,377,942.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| special olympics tennessee irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $2,676,734.00 | $2,335,647.00 | $1,939,652.00 |
| Total Expenses | $2,549,886.00 | $1,510,071.00 | $1,553,422.00 |
| Revenue Less Expenses | $126,848.00 | $825,576.00 | $386,230.00 |
Revenue Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $394,000.00 | $298,972.00 | $152,570.00 |
| Contributions, Gifts, and Grants | $1,630,534.00 | $1,778,199.00 | $1,588,512.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $265,761.00 | $21,843.00 | $9,705.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $277,391.00 | $221,633.00 | $181,138.00 |
| Revenue In-Kind | $73,540.00 | $13,922.00 | $4,550.00 |
| Other | $35,508.00 | $1,078.00 | $2,997.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $2,264,783.00 | $1,307,427.00 | $1,364,448.00 |
| Administration Expense | $96,817.00 | $108,740.00 | $113,683.00 |
| Fundraising Expense | $188,286.00 | $93,904.00 | $75,291.00 |
| Total Revenue/Total Expenses | 105% | 155% | 125% |
| Program Expense/Total Expenses | 89% | 87% | 88% |
| Fundraising Expense/Contributed Revenue | 7% | 6% | 5% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $1,630,534.00 | Contributions, Gifts, and Grants $1,778,199.00 | Contributions, Gifts, and Grants $1,588,512.00 |
| Second Highest Funding Source & Dollar Amount | Government Grants $394,000.00 | Government Grants $298,972.00 | Fundraising Events $181,138.00 |
| Third Highest Funding Source & Dollar Amount | Fundraising Events $277,391.00 | Fundraising Events $221,633.00 | Government Grants $152,570.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $6,220,698.00 | $6,325,051.00 | $4,822,876.00 |
| Current Assets | $1,596,022.00 | $2,700,594.00 | $1,736,098.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $525,236.00 | $164,528.00 | $76,543.00 |
| Total Net Assets | $5,695,462.00 | $6,160,523.00 | $4,746,333.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$110,000.00
What is the spending policy for your endowment?
Percentage
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Special Olympic Tennessee's budget is for our state headquarters/events only. We do not include the 32 area program budgets as they are each individually done by the local committees. Our audit and our 990 include financial reports for state headquarters/events AND our 32 area programs. Funds given to, or restricted in use for, any specific area program is held for use in that area only. |
Foundation Staff Comments
| *The endowment for Special Olympics Tennessee is housed at The Community Foundation of Middle Tennessee. Financial figures taken from 990 and audit. Foundation and corporate contributions included in the Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financials prepared by Cherry Bekaert LLP. Comments provided by Hayley Sulfridge 11/28/23. |
