New Memphis Institute
- Assets
- $6.0m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 19
- Location
- Memphis, TN
- Founding
- 02/1986
- Data as of
- 12/2023
- EIN
- 58-1607228
Organization Overview
New Memphis Institute is located in Memphis, TN. The organization was established in 1986. According to its NTEE Classification (R30) the organization is classified as: Intergroup & Race Relations, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 12/2023, New Memphis Institute employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Memphis Institute 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, New Memphis Institute generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 3.9% per year over the past 8 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
NEW MEMPHIS FORGES A PROSPEROUS AND VITAL NEW MEMPHIS BY DEVELOPING, ACTIVATING AND RETAINING TALENT IN ORDER TO MOVE MEMPHIS FORWARD BY DELIVERING PROGRAMS THAT EMPOWER AND INSPIRE INDIVIDUALS TO FURTHER DEVELOP THE STRENGTHS OF OUR CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LEADERSHIP DEVELOPMENT INTENSIVE BEGINS WITH A THREE-AND-A-HALF DAY TRAINING EXPERIENCE DELIVERED TWO TIMES A YEAR IN PARTNERSHIP WITH THE CENTER FOR CREATIVE LEADERSHIP. MORE THAN 1,000 EXECUTIVE-LEVEL BUSINESS AND CIVIC LEADERS HAVE COMPLETED THIS PROGRAM WHICH EMPOWERS ESTABLISHED LEADERS TO BETTER UNDERSTAND AND USE THEIR STRENGTHS TO MOVE MEMPHIS FORWARD. EVERY YEAR THIS GROWING NUMBER OF LEADERS REPRESENTS THE DRIVING FORCE OF NEW MEMPHIS INSTITUTE: THE GREATEST CATALYST OF POSITIVE TRANSFORMATION IN ANY COMMUNITY IS STRONG AND ENGAGED LEADERS. THESE LEADERS SPEND COMMUNITY TIME SERVING ON BOARDS AND COMMITTEES BASED ON REFERRALS MADE BY NEW MEMPHIS INSTITUTE; ADVISING THE FELLOWS ON THEIR COMMUNITY ACTION PROJECTS; ENGAGING AND PRESENTING AT THE CELEBRATE WHAT'S RIGHT LUNCHEONS; AND WORKING TO ATTRACT AND ACCLIMATE TOP TALENT TO MEMPHIS (OVER 1,000 PERSONS BENEFITED).
ALL OTHER REMAINING PROGRAM SERVICES
THE FELLOWS PROGRAM IS A 12-MONTH ENGAGEMENT THAT GIVES HIGH-POTENTIAL, EMERGING LEADERS THE TOOLS, EXPERIENCES AND CONNECTIONS NEEDED TO BECOME CHANGE AGENTS, INCLUSIVE LEADERS AND QUALIFIED CITY AMBASSADORS. CORE TO THE CURRICULUM IS THE DEVELOPMENT AND IMPLEMENTATION OF COMMUNITY ACTION PROJECTS (CAP) DESIGNED TO BUILD CAPACITY OF EXISTING NONPROFIT ORGANIZATIONS. THERE ARE CURRENTLY 100 CAP AT WORK IN OUR COMMUNITY (1,000 PERSONS BENEFITED).
EMBARK WAS DEVELOPED TO EQUIP PROMISING YOUNG PROFESSIONALS WITH THE TRAINING TO SET A COURSE FOR THEIR CAREER AND THE OPPORTUNITY TO NETWORK WITH OTHERS READY TO MAKE A DIFFERENCE IN THE COMMUNITY (1,300 PERSONS BENEFITED).
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Averwater Trustee | Trustee | 1 | $0 |
Renee Bailey Trustee | Trustee | 1 | $0 |
Vernell Bennett-Fairs Trustee | Trustee | 1 | $0 |
Peter Bunce Trustee | Trustee | 1 | $0 |
Darrell Cobbins Trustee | Trustee | 1 | $0 |
John Daniel At Large | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $173,754 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,422,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,595,862 |
| Total Program Service Revenue | $547,828 |
| Investment income | $23,662 |
| 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 | $3,377,982 |
| 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. | $379,350 |
| Compensation of current officers, directors, key employees. | $18,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $984,992 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100,568 |
| Payroll taxes | $102,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $62,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $243,761 |
| Advertising and promotion | $37,255 |
| Office expenses | $110,223 |
| Information technology | $10,724 |
| Royalties | $0 |
| Occupancy | $115,355 |
| Travel | $41,505 |
| 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 | $37,427 |
| Insurance | $9,314 |
| All other expenses | $1,007 |
| Total functional expenses | $2,694,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $639,591 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $615,808 |
| Accounts receivable, net | $173,754 |
| 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 | $40,871 |
| Net Land, buildings, and equipment | $230,334 |
| Investments—publicly traded securities | $2,576,643 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,748,274 |
| Total assets | $6,025,275 |
| Accounts payable and accrued expenses | $86,085 |
| Grants payable | $0 |
| Deferred revenue | $93,850 |
| 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 | $1,421,335 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,601,270 |
| Net assets without donor restrictions | $3,485,345 |
| Net assets with donor restrictions | $938,660 |
| 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 | $6,025,275 |