Community Foundation of Middle Tennessee
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$4,965,260.00
Projected Expenses
$2,884,244.84
Organizational Budgets and Other Documents
IRS Letter of Exemption
| the community foundation of middle tennessee irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $67,323,570.00 | $137,846,384.00 | $154,729,330.00 |
| Total Expenses | $70,636,592.00 | $77,840,837.00 | $126,000,876.00 |
| Revenue Less Expenses | ($3,313,022.00) | $60,005,547.00 | $28,728,454.00 |
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 | $0.00 | $12,646,990.00 | $54,276,730.00 |
| Contributions, Gifts, and Grants | $37,609,084.00 | $57,406,256.00 | $71,643,736.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $8,465,920.00 | $55,464,682.00 | $22,268,243.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $1,013,318.00 | $653,199.00 | $408,929.00 |
| Revenue In-Kind | $11,246,532.00 | $11,586,157.00 | $6,088,237.00 |
| Other | $126,658.00 | $89,100.00 | $43,455.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $65,866,865.00 | $73,619,367.00 | $121,806,365.00 |
| Administration Expense | $2,044,165.00 | $1,714,586.00 | $1,802,060.00 |
| Fundraising Expense | $2,725,562.00 | $2,506,884.00 | $2,392,451.00 |
| Total Revenue/Total Expenses | 95% | 177% | 123% |
| Program Expense/Total Expenses | 93% | 95% | 97% |
| Fundraising Expense/Contributed Revenue | 4% | 3% | 2% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Investment Income $8,465,920.00 | Contributions, Gifts, Grants $57,406,256.00 | Contributions, Gifts, and Grants $71,643,736.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $37,609,084.00 | Investment Income $55,464,682.00 | Government Grants $54,276,730.00 |
| Third Highest Funding Source & Dollar Amount | Noncash Contributions $11,246,532.00 | Government Grants $12,646,990.00 | Investment Income $22,268,243.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $563,085,962.00 | $622,114,153.00 | $564,381,158.00 |
| Current Assets | $42,894,043.00 | $43,535,820.00 | $41,777,489.00 |
| Long-Term Liabilities | $7,500,000.00 | $0.00 | $0.00 |
| Current Liabilities | $15,833,616.00 | $16,452,870.00 | $16,705,112.00 |
| Total Net Assets | $539,752,346.00 | $605,661,283.00 | $547,381,158.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$36,534.00
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
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Because The Community Foundation of Middle Tennessee serves as our community's savings account, our numbers look a bit different from many more traditional nonprofit organizations. *We have a small staff that works to educate people who care about a range of giving options -- within and beyond our customized services (and a six-month operating reserve). *We look for opportunities to add value connecting generosity with need through grantmaking, education fiscal agency, etc. *We do not fundraise to cover our expenses -- those are covered entirely by income we earn; although at the request of some donors/committees we do help host events from time to time to endow support for specific charitable purposes. |
Foundation Staff Comments
| Financial figures taken from the Form 990. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financial documents completed by Kraft CPAs PLLC. Comments provided by Nicole Rose 11/02/2023. |
