Memphis & Shelby Co Vet Med Assn Inc

Nonprofit profile at a glance

EIN
581882957
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Cordova, TN, USA
Phone
9017541615
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$91,159
Expenses
$79,316
Assets
$141,337
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DR WILLIAM SWEET (PRESIDENT)

People named in this filing

  • DR TERRY BARNETT (DIRECTOR)
  • DR ALISHA HEZEL (DIRECTOR)
  • DR CAM HORNSBY (DIRECTOR)

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

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To advance the science & art of veterinary medicine, including its relationship to the public health of the community, to promote & elevate the practice of veterinary medicine, to provide continuing education for members, & to promote responsible pet ownership through public relation efforts.

What it reported doing in 2025

Annual mid-south veterinary conference with continuing education for veterinarians

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program revenue.
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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.6%; rating input score 53
  • Program expense ratio: 66.6%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.78; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 32.4% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 17.1% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 52.6% of revenue deployed · 66.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $53K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.