Memphis Research Consortium Inc

Nonprofit profile at a glance

EIN
270497927
IRS 990 coverage
2018–2023
Forms available
Form 990 2023
Location
Memphis, TN, USA
Phone
9012899551
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$229,413
Expenses
$223,534
Assets
$28,660
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • WILLIAM HARDGRAVE (PRESIDENT/CHAIRMAN)

Highest reported compensation

  • PETER F BUCKLEY (DIRECTOR): $1,040,274 total reported compensation
  • WILLIAM HARDGRAVE (PRESIDENT/CHAIRMAN): $734,932 total reported compensation
  • ANTHONY FERRARA (TREASURER): $437,215 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Nonprofit promotion of research networking and collaboration.

What it reported doing in 2023

Mrc is designed to strengthen relations between memphis research institutions and to facilitate collaboration in research, education, institutional strategy, and other activities of mutual interest, while developing policies and tactics that advance memphis research as a whole and its economic impact on the community.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 66
  • Accountability: 91
  • Sustainability: 35
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.6%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 32.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: -6.7% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -34.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 99.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $222K in reported program spending
  • Leadership: top reported pay $1M · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2018 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.