Memphis Tomorrow

Nonprofit profile at a glance

EIN
621867308
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9013228080
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,152,867
Expenses
$1,059,626
Assets
$635,085
Liabilities
$292,468

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

Leadership & pay

21 people listed

Executive titles in this filing

  • BLAIR TAYLOR (PRESIDENT)

Highest reported compensation

  • BLAIR TAYLOR (PRESIDENT): $327,469 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Memphis tomorrow is an association of ceos of memphis' largest businesses working to promote opportunity and quality of life for all memphians through collective action and public-private partnerships.

What it reported doing in 2024

Memphis tomorrow is an association of ceos of memphis' largest businesses working with government and civic sectors to promote opportunity and quality of life for all memphians. Areas of work include digital equity, early childhood development, k-12 education, economic development, public safety, among others.

Operating model

Revenue model
Membership-supported. 87% of the money available for current operations came from membership dues.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 75
  • Accountability: 79
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.9%; rating input score 83
  • Program expense ratio: 89.9%; rating input score 90
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: Pass

Sustainability

  • Operating margin: 8.1%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 30.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -4.8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 82.9% of revenue deployed · 89.9% of spending went to programs
  • Governance: 21 of 21 board members independent · 4 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $952K in reported program spending
  • Leadership: top reported pay $327K · 21 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.