Creative Aging Memphis
- Assets
- $602.7k
- Revenue
- $673.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Memphis, TN
- Founding
- 03/2004
- Data as of
- 12/2023
- EIN
- 27-0070615
Organization Overview
Creative Aging Memphis is located in Memphis, TN. The organization was established in 2004. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Creative Aging Memphis employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creative Aging 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 12/2023, Creative Aging Memphis generated $673.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $576.4k during the year ending 12/2023. While expenses have increased by 13.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE QUALITY OF LIFE FOR MID-SOUTH SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATIVE AGING'S 3 ARTS-BASED PROGRAMS ENGAGE OLDER ADULTS AT PLACES THEY LIVE OR GATHER. PROGRAMS INCLUDE THE CONCERT SERIES, COMMUNITY PERFORMANCES, AND STUDIO COURSES. THE 2023-24 CONCERT SERIES INCLUDED 10 EVENTS FEATURING MEMPHIS' BEST ARTS ORGANIZATIONS AND INDIVIDUAL ARTISTS. THE CONCERT SERIES IMPACTED OLDER ADULTS 3934 TIMES. COMMUNITY PERFORMANCES AND STUDY COURSES TOOK PLACE 1,594 TIMES IN OVER 100 LOCATIONS IN THE GREATER MEMPHIS AREA, INCLUDING SENIOR CENTERS, SENIOR HOUSING, LIBRARIES, MUSEUMS, THEATERS AND MORE. PROGRAMS ENGAGED OLDER ADULTS A TOTAL OF 43,199 TIMES. PARTICIPANTS IN CREATIVE AGING'S STUDIO COURSES HAD OPPORTUNITIES TO SHOWCASE THEIR ARTWORK AT AN ART SHOW HELD AT THEATRE MEMPHIS AND IN A PERMANENT WINDOW AT THE RENASANT CONVENTION CENTER. CREATIVE AGING'S PROGRAMS HELP DRIVE THE LOCAL ARTS ECONOMY BY PAYING 120+ ARTISTS AND MUSICIANS WHO TEACH OR PERFORM AS PART OF OUR CLASSES AND EVENTS. THESE PERFORMANCES AND CLASSES BENEFIT SENIORS AND THE COMMUNITY AS A WHOLE BY ACTIVATING PARTICIPANTS' CREATIVE CAPACITY, BUILDING COMMUNITY AND REDUCING THE NEGATIVE HEALTH CONSEQUENCES OF SOCIAL ISOLATION AND INACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Henley Executive Director | OfficerTrustee | 40 | $66,000 |
Rachel Cheek VP | OfficerTrustee | 5 | $0 |
Sarah Nowlin Director | Trustee | 1 | $31,585 |
Jennifer Roberts Director | Trustee | 1 | $0 |
Pam Guinn Director | Trustee | 1 | $0 |
Karen Hamburger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $125,571 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $368,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $493,737 |
| Total Program Service Revenue | $175,253 |
| Investment income | $5,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$673 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $673,327 |
| 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. | $101,835 |
| Compensation of current officers, directors, key employees. | $33,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,202 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,242 |
| Office expenses | $7,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,566 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,872 |
| Insurance | $5,953 |
| All other expenses | $0 |
| Total functional expenses | $576,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,857 |
| Savings and temporary cash investments | $198,044 |
| Pledges and grants receivable | $96,289 |
| Accounts receivable, net | $73,755 |
| 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 | $8,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $602,654 |
| Accounts payable and accrued expenses | $7,675 |
| Grants payable | $0 |
| Deferred revenue | $1,500 |
| 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 | $9,175 |
| Net assets without donor restrictions | $498,979 |
| Net assets with donor restrictions | $94,500 |
| 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 | $602,654 |