Nonprofit · EIN 58-1756023
NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · JOHNSON CITY, TN 37601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $135,992 | $130,421 | $5,571 | $3,389,466 | $1,012,887 | $2,376,579 |
| June 30, 2024 | 990 | $131,618 | $87,594 | $44,024 | $3,377,546 | $1,006,538 | $2,371,008 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $123,631
- Investment income
- $12,361
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $130,421
Balance sheet and other
- Total assets, start of year
- $3,377,546
- Total assets, end of year
- $3,389,466
- Total liabilities, end of year
- $1,012,887
- Net assets, end of year
- $2,376,579
- Net assets with donor restrictions
- $2,376,579
- Gross receipts
- $135,992
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1982
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEN REA | EXECUTIVE DIRECTOR Trustee or director, Officer | 10 | $0 |
| SUSAN REID | SECRETARY Trustee or director, Officer | 1 | $0 |
| AL SPRITZER | DIRECTOR Trustee or director | 1 | $0 |
| RICK STOREY | DIRECTOR Trustee or director | 1 | $0 |
| STEPHEN DIXON | DIRECTOR Trustee or director | 1 | $0 |
| STEVE MEARS | DIRECTOR Trustee or director | 1 | $0 |
| DICK GRAYSON | DIRECTOR Trustee or director | 1 | $0 |
| MIKE HILL | DIRECTOR Trustee or director | 1 | $0 |
| MARK BAYS | DIRECTOR Trustee or director | 1 | $0 |
| BOBBY BROWN | DIRECTOR Trustee or director | 1 | $0 |
| DON KIEFFER | DIRECTOR Trustee or director | 1 | $0 |
| DARREN MURRAY | DIRECTOR Trustee or director | 1 | $0 |
| ROBERT WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEN REA | EXECUTIVE DIRECTOR Trustee or director, Officer | 10 | $0 |
| SUSAN REID | SECRETARY Trustee or director, Officer | 1 | $0 |
| AL SPRITZER | DIRECTOR Trustee or director | 1 | $0 |
| RICK STOREY | DIRECTOR Trustee or director | 1 | $0 |
| STEPHEN DIXON | DIRECTOR Trustee or director | 1 | $0 |
| TOM OLTERMAN | DIRECTOR Trustee or director | 1 | $0 |
| STEVE MEARS | DIRECTOR Trustee or director | 1 | $0 |
| DICK GRAYSON | DIRECTOR Trustee or director | 1 | $0 |
| MIKE HILL | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3211 N ROAN ST, JOHNSON CITY, TN 37601-1213
- Principal officer (990 for 2024)
- LISA JONES, 3211 N ROAN STREET, JOHNSON CITY, TN 37601
- Signed the 990
- LISA JONES, LOAN OFFICER
- Phone
- (423) 928-0224
- Website
- WWW.NETEDC.ORG
- Return prepared by
- BLACKBURN CHILDERS & STEAGALL PLC
Mission
CREATED TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING LOAN PROGRAMS FOR BUSINESSES.
Program accomplishments
- MULTIPLE LOAN FUNDS AND PROGRAMS HAVE BEEN ESTABLISHED BY NETEDC TO ASSIST BUSINESSES THROUGH FIXED AND PERMANENT WORKING CAPITAL FINANCING. OVERALL, 162 LOANS HAVE BEEN MADE THROUGH THESE PROGRAMS IN THE AMOUNT OF $10.9 MILLION DOLLARS, AND THE COMPANIES INVOLVED HAVE CREATED JOBS IN THE REGION.Expenses $130,421
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 58-1756023
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1988
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,389,466
- Income (IRS master file)
- $135,992
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $135,992 | $130,421 | $3,389,466 | XML |
| 990 | June 2024 | $131,618 | $87,594 | $3,377,546 | XML |
| 990 | June 2023 | $110,233 | $96,579 | $3,338,754 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1756023).
Questions about NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION is 58-1756023.
- Is NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1988.
- Are donations to NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names LISA JONES.
- Who are the officers and directors of NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 13 people; 0 received compensation from the organization.
- How much revenue does NORTHEAST TENNESSEE ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $135,992, expenses of $130,421 and total assets of $3,389,466 at year end.
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