Memphis Praise Corporation

Nonprofit profile at a glance

EIN
830986062
IRS 990-EZ coverage
2019–2022
Forms available
Form 990-EZ 2022
Location
Collierville, TN, USA
Phone
9012371331
Rating confidence
Limited
Sector
Performing Arts Organizations
Affiliation
Christianity

Reported finances

Revenue
$5,300
Expenses
$6,564
Assets
$40,036

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

Leadership & pay

2 people listed

Executive titles in this filing

  • DR OLUGBENGA ADEBANJO (PRESIDENT)
  • DR LOLA ADEBANJO (VICE PRESIDENT)

People named in this filing

  • DR OLUGBENGA ADEBANJO (PRESIDENT)
  • DR LOLA ADEBANJO (VICE PRESIDENT)

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

Set up for charitable work in memphis and shelby county including encouraging the praise of our lord jesus christ

What it reported doing in 2022

Memphis praise continues planning for full operational activities post covid-19.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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
  • Sustainability: 42
  • Growth: 20

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

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

Sustainability

  • Operating margin: -23.8%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 6.1; rating input score 85; 85th 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: Limited
  • Revenue growth: -51.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 66.7% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 4 of 5 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2019 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.