Mystic Society Of The Memphi Inc
- Assets
- $308.0k
- Revenue
- $352.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 03/1986
- Data as of
- 08/2023
- EIN
- 58-1578111
Organization Overview
Mystic Society Of The Memphi Inc is located in Memphis, TN. The organization was established in 1986. According to its NTEE Classification (Y42) the organization is classified as: Domestic Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Society Of The Memphi Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2023, Mystic Society Of The Memphi Inc generated $352.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $348.7k during the year ending 08/2023. While expenses have increased by 6.7% per year over the past 6 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
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARNIVAL WEEK - A WEEKLONG CELEBRATION OF CARNIVAL MEMPHIS (THE MEMPHIS EQUIVALENT OF MARDI GRAS) INCLUDING INDUCTION OF THE KING AND THE GRAND COSTUME BALL.
MID-WINTER BALL - SOCIAL GATHERING IN JANUARY TO PRESENT THE DUCHESSESFOR THE MEMPHI COURT TO THE MEMBERSHIP.
FALL PARTY- FAREWELL APPEARANCE OF THE COURT FROM THE PREVIOUS YEAR ANDKICKOFF OF THE NEW SOCIAL SEASON INCLUDING INTRODUCTION OF THE UPCOMINGMEMPHI GENERAL CHAIRMAN AND CARNIVAL MEMPHIS PRESIDENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Baker Board Member | Trustee | 1 | $0 |
Shellie G Mccain Jr Treasurer | OfficerTrustee | 3 | $0 |
Joey Dudek Secretary | OfficerTrustee | 3 | $0 |
Robert Black Board Chair | OfficerTrustee | 1 | $0 |
Richard R Roberts Vice Chairman | OfficerTrustee | 3 | $0 |
Dabney Collier Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $144,725 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $144,725 |
| Total Program Service Revenue | $201,365 |
| Investment income | $3,190 |
| 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 | $2,675 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $351,955 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| 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 | $4,158 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,777 |
| All other expenses | $148,783 |
| Total functional expenses | $348,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,552 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $415 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,391 |
| Prepaid expenses and deferred charges | $2,675 |
| 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 | $308,033 |
| Accounts payable and accrued expenses | $550 |
| 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 | $550 |
| Net assets without donor restrictions | $307,483 |
| 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 | $308,033 |