Community Lift Corp
- Assets
- $4.3m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 90
- Location
- Memphis, TN
- Founding
- 06/2011
- Data as of
- 06/2021
- EIN
- 27-3941355
Organization Overview
Community Lift Corp is located in Memphis, TN. The organization was established in 2011. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Community Lift Corp employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Lift Corp 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, Community Lift Corp generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.9m during the year ending 06/2021. While expenses have increased by 9.8% 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.
Since 2017, Community Lift Corp has awarded 120 individual grants totaling $2,555,488. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
REVITALIZE NEIGHBORHOODS A NON-PROFIT COMMUNITY DEVELOPMENT PROGRAM TO INVEST IN REBUILDING THE NEIGHBORHOOD FOR BETTER HUMAN LIVING ABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UPLIFTING COMMUNITIES AND NEIGHBORHOODS THE PROGRAM TARGETS THREE (3) COMMUNITIES IN THE MEMPHIS AREA WHICH INCLUDES GREATER BINGHAMPTON, FRAYSER AND UPPER SOUTH MEMPHIS. WE FOCUS ON INVESTING IN A LIMITED SCOPE OF NEIGHBORHOODS TO MAXIMIZE ON ALL RESOURCES AVAILABLE TO THE NEIGHBORHOOD TO EMPOWER AND IMPROVE LIFE OF THE COMMUNITES RESIDENTS.
UPLIFTING COMMUNITIES AND NEIGHBORHOODS THE PROGRAM TARGETS THREE (3) COMMUNITIES IN THE MEMPHIS AREA WHICH INCLUDES GREATER BINGHAMPTON, FRAYSER AND UPPER SOUTH MEMPHIS. WE FOCUS ON INVESTING IN A LIMITED SCOPE OF NEIGHBORHOODS TO MAXIMIZE ON ALL RESOURCES AVAILABLE TO THE NEIGHBORHOOD TO EMPOWER AND IMPROVE LIFE OF THE COMMUNITES RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Cofield Treasurer | Officer | 3 | $0 |
Eric Robertson President | Officer | 45 | $0 |
Luther Mercer Vice Chairman | Trustee | 3 | $0 |
John Paul Shaffer Board Member | Trustee | 3 | $0 |
Alex Turley Board Member | Trustee | 3 | $0 |
Charia Jackson Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,623,917 |
| Investment income | $5,205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $300 |
| 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 | $3,738,830 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $735,549 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,906 |
| Payroll taxes | $46,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61 |
| Fees for services: Accounting | $40,376 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $305,230 |
| Advertising and promotion | $12,706 |
| Office expenses | $11,675 |
| Information technology | $37,806 |
| Royalties | $0 |
| Occupancy | $55,120 |
| Travel | $33,844 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,212 |
| Insurance | $13,211 |
| All other expenses | $0 |
| Total functional expenses | $1,870,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,667,411 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,247,067 |
| Accounts receivable, net | $85,839 |
| 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 | $4,844 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,277,759 |
| Accounts payable and accrued expenses | $98,112 |
| 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 | $185,115 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $283,227 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $3,994,532 |
Grants Awarded
Over the last fiscal year, Community Lift Corp has awarded $707,198 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: Capacity Building | $48,000 |
Memphis, TN PURPOSE: Capacity Building | $48,000 |
Memphis, TN PURPOSE: CDC Capacity Assistance | $36,000 |
Memphis, TN PURPOSE: CDC Capacity Assistance | $36,000 |
ALCY BALL PURPOSE: CDC Capacity Assistance | $29,471 |
ALCY BALL PURPOSE: CDC Capacity Assistance | $29,471 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Community Lift Corp has recieved totaling $1,631,805.
| Awarding Organization | Amount |
|---|---|
Kresge Foundation Troy, MI PURPOSE: THE BUILD THE COMMUNITY DEVELOPMENT SECTOR IN MEMPHIS, TN AND AID WITH THE IMPLEMENTATION OF MEMPHIS 3.0, THE CITY'S NEW COMPREHENSIVE PLAN. | $460,000 |
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $189,000 |
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $189,000 |
J R Hyde Iii Foundation Memphis, TN PURPOSE: SUPPORT FOR GENERAL OPERATIONS, COMMUNITY DEVELOPMENT SECTOR CAPACITY-BUILDING, AND MEMPHIS 3.0 DEMONSTRATION PROJECTS | $160,300 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $151,275 |
Borealis Philanthropy Minneapolis, MN PURPOSE: TO SUPPORT THE WORK OF MLK50: JUSTICE THROUGH JOURNALISM | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |