Economic Club Of Memphis
- Assets
- $210.0k
- Revenue
- $164.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 01/1974
- Data as of
- 06/2021
- EIN
- 23-7361931
Organization Overview
Economic Club Of Memphis is located in Memphis, TN. The organization was established in 1974. According to its NTEE Classification (V03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Social Science and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Club Of Memphis is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Economic Club Of Memphis generated $164.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $138.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE STUDY AND DISCUSSION OF ECONOMIC, POLITICAL, AND SOCIAL ISSUES IN THE MEMPHIS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HELD MEETINGS FEATURING RENOWNED GUEST SPEAKERS. THESE MEETINGS PROVIDED AN OPPORTUNITY FOR EDUCATION AND A PLATFORM FOR MEMPHIS AREA BUSINESS LEADERS TO EXCHANGE VIEWS WITH INFLUENTIAL PEOPLE FROM AROUND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Tucker Executive Director | Officer | 40 | $36,667 |
Ted Townsend Vice President | OfficerTrustee | 1 | $0 |
Jeffrey Lewis President | OfficerTrustee | 1 | $0 |
Douglas Scarboro Secretary/treasurer | OfficerTrustee | 1 | $0 |
Scott Fountain Board Member | Trustee | 1 | $0 |
Susan Scheidt Arney Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $73,415 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,078 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,493 |
| Total Program Service Revenue | $70 |
| Investment income | $802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $164,365 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $36,667 |
| Compensation of current officers, directors, key employees. | $19,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $74,714 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,105 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,019 |
| Information technology | $9,041 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,920 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,460 |
| All other expenses | $0 |
| Total functional expenses | $138,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,179 |
| Savings and temporary cash investments | $104,860 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $210,039 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $210,039 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $210,039 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Economic Club Of Memphis has recieved totaling $750.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $250 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $250 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Economic Association Inc Nashville, TN | $56,285,303 | $13,278,131 |
Population Association Of America Inc Alexandria, VA | $3,645,715 | $2,473,272 |
Society For Prevention Research Incorporated Fairfax, VA | $1,265,673 | $447,371 |
Economic Club Of Memphis Memphis, TN | $210,039 | $164,365 |
National Association Of Blacks In Criminal Justice Inc Durham, NC | $0 | $0 |