Nonprofit · EIN 58-1966772
THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE
Tax-exempt · KNOXVILLE, TN 37902
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2023 | 990 | $632,758 | $2,119,012 | -$1,486,254 | $42,516,150 | $649,521 | $41,866,629 |
Financial details: 990 for the year ended June 30, 2023
Revenue
- Contributions, gifts and grants
- $410,548
- of which government grants
- $333,548
- Program service revenue
- $215,483
- Investment income
- $6,727
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $33,648
- Salaries, compensation and benefits (total)
- $50,120
- Professional fundraising fees
- $0
- Legal fees
- $51,507
- Depreciation
- $1,009
- Program services (functional)
- $1,936,986
- Management and general (functional)
- $182,026
Balance sheet and other
- Total assets, start of year
- $44,037,892
- Total assets, end of year
- $42,516,150
- Total liabilities, end of year
- $649,521
- Net assets, end of year
- $41,866,629
- Net assets without donor restrictions
- $41,750,709
- Net assets with donor restrictions
- $115,920
- Gross unrelated business income
- $222,210
- Gross receipts
- $632,758
- Employees
- 1
- Volunteers
- 0
- Year formed
- 1991
- 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, 2023, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| M DOUGLAS CAMPBELL JR | VICE CHAIRMAN Trustee or director | 2 | $0 |
| GEORGE H HEINS III | CHAIRMAN Trustee or director | 2 | $0 |
| NANCY BARGER | DIRECTOR Trustee or director | 2 | $0 |
| CAROLYN FAIRBANK | SECRETARY/TREASURER Trustee or director | 2 | $0 |
| INDYA KINCANNON | DIRECTOR Trustee or director | 2 | $0 |
| LOUISE FRAZIER | DIRECTOR Trustee or director | 2 | $0 |
| CHARLES MORRIS | DIRECTOR Trustee or director | 2 | $0 |
| GLENN JACOBS | DIRECTOR Trustee or director | 2 | $0 |
| COURTNEY DURRETT | DIRECTOR Trustee or director | 2 | $0 |
| WILLIAM F FOX | DIRECTOR Trustee or director | 2 | $0 |
| TERRY MOSLEY | DIRECTOR Trustee or director | 2 | $0 |
| MAYOR RON WILLIAMS | DIRECTOR - NON VOTING Trustee or director | 2 | $0 |
| TERRY HILL | VICE CHAIRMAN Trustee or director | 2 | $0 |
| LARSEN JAY | DIRECTOR Trustee or director | 2 | $0 |
| MIKE ODOM | INTERIM PRESIDENT & CEO Officer | 46 | $0 |
Address and contacts
- Address (IRS master file)
- 17 MARKET SQ STE 201, KNOXVILLE, TN 37902-1447
- Principal officer (990 for 2022)
- MIKE ODOM, 17 MARKET SQUARE 201, KNOXVILLE, TN 379021405
- Signed the 990
- MIKE ODOM, PRESIDENT & CEO
- Phone
- (865) 546-5887
- Website
- WWW.KNOXDEVELOPMENT.ORG
- Return prepared by
- CROSSLIN PLLC
Mission
THE DEVELOPMENT CORPORATION WILL REPRESENT THE GREATER KNOXVILLE AREA IN MANAGING AND ALLOCATING LAND AND OTHER RESOURCES TO STRATEGICALLY PROMOTE LONG-TERM QUALITY BUSINESS DEVELOPMENT SPECIFICALLY, THE DEVELOPMENT CORPORATION WILL WORK WITH INTERESTED BUSINESSES, CREATE BUSINESS AND INDUSTRIAL LOCATION OPPORTUNITIES, ASSIST EXISTING BUSINESSES WITH LAND AND TRAINING NEEDS, FOSTER ENTREPRENEURIAL JOB CREATION, INCLUDING MANAGEMENT OF KNOX COUNTY'S BUSINESS INCUBATOR, FAIRVIEW TECHNOLOGY CENTER, AND ENSURE ALLOCATION OF RESOURCES FOR THE ENHANCEMENT OF THE LONG-TERM ECONOMIC CLIMATE FOR KNOXVILLE AND KNOX COUNTY.
Program accomplishments
- TDC IS CHARGED WITH THE RESPONSIBILITY OF ENSURING THAT KNOX COUNTY HAS LAND RESOURCES AVAILABLE FOR POTENTIAL PROSPECTS. TDC CURRENTLY OWNS OR MANAGES ACREAGE AT CENTERPOINT BUSINESS PARK (APPROXIMATELY 6 ACRES), EASTBRIDGE BUSINESS PARK (APPROXIMATELY 195 DEVELOPABLE ACRES), WESTBRIDGE BUSINESS PARK (APPROXIMATELY 10 ACRES), PELLISIPPI CORPORATE CENTER (APPROXIMATELY 77 DEVELOPABLE ACRES), HARDIN BUSINESS PARK (APPROXIMATELY 12 DEVELOPABLE ACRES), KARNS VALLEY BUSINESS PARK (APPROXIMATELY 82 DEVELOPABLE ACRES), AND MIDWAY BUSINESS PARK (APPROXIMATELY 337 ACRES). TDC MAKES THIS LAND AVAILABLE TO NEW BUSINESSES OR FOR THE EXPANSION OF EXISTING BUSINESSES IN ACCORDANCE WITH ITS EXEMPT PURPOSE. TDC IS CONTINUALLY LOOKING FOR LAND TO PURCHASE FOR FUTURE BUSINESS PARKS. KEY COMPONENTS OF THIS SERVICE INCLUDE PROPERTY DEVELOPMENT, MANAGEMENT, AND MARKETING AND SALE OF PROPERTIES. TDC ADDITIONALLY OWNS APPROXIMATELY 68 ACRES NORTH OF KARNS HIGH SCHOOL AND IS CURRENTLY WORKING ON THE DEVELOPMENT OF THIS PROPERTY INTO KARNS VALLEY BUSINESS PARK. THE PROGRAMS, SERVICES AND ACTIVITIES THAT THE CORPORATION UNDERTAKES AND/OR MANAGES ARE AIMED AT FACILITATING CAPITAL INVESTMENT AND JOB CREATION IN KNOX COUNTY. IN ADDITION TO THE ACTIVITIES AND PROGRAMS THE TDC HAS UNDER ITS DIRECT PURVIEW, IT ALSO PROVIDES STAFF AND MANAGEMENT SERVICES TO SEVERAL QUASI-GOVERNMENTAL BOARDS THAT ALSO PROVIDE UNIQUE PROGRAMS AND SERVICES ON THE COUNTY AND CITY'S BEHALF TO PROMOTE JOB RETENTION AND GROWTH, INCREASING CAPITAL INVESTMENT IN KNOX COUNTY, AND UNDERTAKING SPECIAL PROJECTS FOR THE BENEFIT OF THE CITIZENS OF KNOX COUNTY.Expenses $1,936,986 · revenue $222,210
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 | Not on file |
| 2023 | June 30, 2024 | November 15, 2024 | Not on file |
IRS record
- EIN
- 58-1966772
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1990
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $42,516,150
- Income (IRS master file)
- $632,758
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2023 | $632,758 | $2,119,012 | $42,516,150 | XML |
| 990 | June 2022 | $1,693,343 | $1,009,283 | $44,037,892 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | 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 58-1966772).
Questions about THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE
- What is the EIN of THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE?
- The employer identification number (EIN) of THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE is 58-1966772.
- Is THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE 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 THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE 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 THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2023.
- Who is the principal officer of THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE?
- The 990 for the year ended June 30, 2023 names MIKE ODOM.
- Who are the officers and directors of THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE?
- The 990 for the year ended June 30, 2023 lists 15 people; 0 received compensation from the organization.
- How much revenue does THE DEVELOPMENT CORPORATION OF KNOX COUNTY TENNESSEE have?
- On its 990 for the year ended June 30, 2023 it reported revenue of $632,758, expenses of $2,119,012 and total assets of $42,516,150 at year end.
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