BBA Foundation of Memphis Inc

Nonprofit profile at a glance

EIN
800621931
IRS 990 coverage
2015–2022
Forms available
Form 990 2022
Location
Memphis, TN, USA
Phone
9016369300
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Services N.E.C.

Official website

Reported finances

Revenue
$75,000
Expenses
$16,808
Assets
$58,192
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Ernest D Strickland (President/CEO)

Highest reported compensation

  • Ernest D Strickland (President/CEO): $149,992 total reported compensation
  • Alan A Gumbel (Chief Operation Officer): $58,546 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organizations mission is to improve the economic well being of the Memphis, TN region by developing successful entrepreneurs through education, advocacy and business development

What it reported doing in 2022

See Schedule O for Program Accomplishments for the fiscal year ended June 30, 2023

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.4%; rating input score 22
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 77.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 3.46; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 77.5% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 77.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 22.4% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $150K · 5 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2015 to 2022
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 22/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.