The Mystic Society of the Memphi

Nonprofit profile at a glance

EIN
581578111
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9015731185
Rating confidence
Limited

Reported finances

Revenue
$355,926
Expenses
$338,854
Assets
$343,748
Liabilities
$550

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

Leadership & pay

10 people listed

People named in this filing

  • JACK STIMAC (BOARD MEMBER)
  • SHELLIE G MCCAIN JR (TREASURER)
  • JOEY DUDEK (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The society is a social club that sponsors parties and events for its members and their guests each year leading up to the celebration of "carnival" in early june. Carnival promotes memphis as a great city and workplace, and annually selects and celebrates an industry that has a major impact on the economy of the mid-south. As one of the eleven "grand krewes of carnival memphis", memphi supports the civic mission and eleemosynary endeavors of carnival memphis which benefits local children's charities.

What it reported doing in 2024

Fall party - farewell appearance of the court from the previous year and kickoff of the new social season including introduction of the upcoming memphi general chairman and carnival memphis president.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 90
  • Accountability: 70
  • Sustainability: 50
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $177K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.