Memphis College of Art

Nonprofit profile at a glance

EIN
620544854
IRS 990-EZ coverage
2021–2022
Forms available
Form 990 2020, Form 990-EZ 2022, Form 990-T 2021
Location
Memphis, TN, USA
Phone
9012725100
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Higher Education Institutions

Reported finances

Revenue
$937
Expenses
$434,882
Assets
$0
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • LAURA HINE (PRESIDENT)

People named in this filing

  • HENRY DOGGRELL (BOARD CHAIR)
  • ALLISON BRASWELL (BOARD MEMBER)
  • GARY BACKAUS (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Memphis college of art was dedicated to teaching the practice, history and appreciation of visual art and design; challenging all students to reach their highest individual potential, and preparing graduates to succeed in their careers and change the world. Operations officially ended and the liquidation period was completed as of june 30, 2021. At this time, the organization is reporting on a cash basis until dissolution is finalized.

What it reported doing in 2022

Educational instructions for students in degree programs and continuing education courses for additional students.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 82
  • Sustainability: 7
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.1%; rating input score 91

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -46,312.2%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -12.3% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -14.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $396K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2021 to 2022
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.