Memphis Atheltic Foundation

Nonprofit profile at a glance

EIN
472335297
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9016784142
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$257,057,674
Expenses
$7,015,829
Assets
$270,367,473
Liabilities
$14,147,783

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JOHN HARTNEY (VICE PRESIDENT)
  • DR BILL HARDGRAVE (UOFM PRESIDENT)
  • RICHARD A SPELL (PRESIDENT)
  • COOPER JONES (CEO)
  • JEFF CRANE (FORMER EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR BILL HARDGRAVE (UOFM PRESIDENT): $849,406 total reported compensation
  • RENE BUSTAMANTE (UOFM COO/CFO): $460,607 total reported compensation
  • JEFF CRANE (FORMER EXECUTIVE DIRECTOR): $221,395 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 operate auxiliary enterprises which directly benefit the university of memphis, and accept, administer, apply, and use property acquired by gift, grant, devise, bequest, or otherwise solely for the benefit of the university.

What it reported doing in 2024

The foundation's board of directors exercises financial oversight and reviews and approves the financial activity in accordance with the established bylaws.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 27
  • Transparency & Controls: 68
  • Accountability: 82
  • Sustainability: 89
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.5%; rating input score 3
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 97.3%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 38.54; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -15.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 83.9% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 71.3% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 2.5% of revenue deployed · 76.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.4M in reported program spending
  • Leadership: top reported pay $849K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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 3/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 21/100.