Memphis Area Chamber of Commerce

Nonprofit profile at a glance

EIN
620291250
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9015433535
Rating confidence
Limited

Official website

Reported finances

Revenue
$10,808,798
Expenses
$10,535,908
Assets
$7,274,331
Liabilities
$4,696,551

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

Leadership & pay

53 people listed

Executive titles in this filing

  • JAMES TOWNSEND III (PRESIDENT AND CEO)
  • TECORA MURRAY (EXECUTIVE DIRECTOR OF GMER)
  • ROBERT RECKER (PRESIDENT OF CBI)

Highest reported compensation

  • JAMES TOWNSEND III (PRESIDENT AND CEO): $721,613 total reported compensation
  • NANCY COFFEE (SR. VP OF CHAIRMAN CIRCLE): $573,153 total reported compensation
  • TROY PARKES (DIRECTOR OF BUSINESS DEVEL): $493,322 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 serve our members and partners by improving the quality of life through regional economic prosperity.

What it reported doing in 2024

Economic development of the standard metropolitan statistical area focusing on shelby county, tn. Service to the general business community to develop a strong economic climate for the area serviced.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 91
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.5%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 47.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 37 of 37 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $722K · 53 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $281K reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.