Klondike Smokey City Community Development Corpora

Nonprofit profile at a glance

EIN
621653535
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018, Form 990-N 2016
Location
Memphis, TN, USA
Phone
9015279491
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$509,213
Expenses
$408,024
Assets
$447,713
Liabilities
$141,298

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Quincey Morris (Executive Director)

Highest reported compensation

  • Quincey Morris (Executive Director): $75,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the economic health of the North Memphis Communities through community, workforce and family development initiatives.

What it reported doing in 2024

To help our neighbors establish and maintain a certain quality of life. To bring revitalization and economic

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 82
  • Accountability: 16
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.1%; rating input score 26
  • Program expense ratio: 32.6%; rating input score 33
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.9%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 1.1; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 15% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 12.5% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 26.1% of revenue deployed · 32.6% of spending went to programs
  • Governance: 0 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $133K in reported program spending
  • Leadership: top reported pay $75K · 11 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 26/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 33/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.