Community Foundation Of Greater Memphis Inc
- Assets
- $852.7m
- Revenue
- $114.4m
- Investments
- $119.4m
- Employees
- 19
- Location
- Memphis, TN
- Founding
- 08/1990
- Data as of
- 04/2023
- EIN
- 58-1723645
Organization Overview
Community Foundation Of Greater Memphis Inc is located in Memphis, TN. The organization was established in 1990. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 04/2023, Community Foundation Of Greater Memphis Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Greater Memphis Inc 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 04/2023, Community Foundation Of Greater Memphis Inc generated $114.4m 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 (9.5%) each year. All expenses for the organization totaled $124.6m during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Community Foundation Of Greater Memphis Inc has awarded 15,583 individual grants totaling $852,491,611. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COMMUNITY FOUNDATION IS A PHILANTHROPIC ORGANIZATION THAT MANAGES CHARITABLE FUNDS WITH A BROAD BASE OF DONORS TO BENEFIT THE AREAS OF WESTERN TENNESSEE, EASTERN ARKANSAS, AND NORTHERN MISSISSIPPI.
Describe the Organization's Program Activity:
DONOR ADVISED FUNDS: THESE FUNDS GIVE DONORS FLEXIBILITY TO MAKE GIFTS TO THEIR FUNDS AND DIRECT GRANTS TO THE NONPROFITS OF THEIR CHOICE. TO ACCOMPLISH THIS, THE FOUNDATION RECEIVES AND ACCEPTS PROPERTY TO BE USED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES PRIMARILY IN AND FOR THE BENEFIT OF THE AREAS OF WESTERN TENNESSEE, EASTERN ARKANSAS, AND NORTHERN MISSISSIPPI.
PROJECT FUNDS: THE FOUNDATION OFFERS PROJECT FUNDS FOR SHORT-TERM USE BY ORGANIZATIONS WORKING IN COLLABORATION OR FOR NONPROFITS AWAITING APPROVAL OF THEIR 501C3 STATUS.
DONOR DESIGNATED FUNDS: THE FOUNDATION OFFERS DONOR DESIGNATED FUNDS TO ALLOW DONORS TO SUPPORT ONE OR MORE NONPROFITS FOR A SPECIFIED TIME OR IN PERPETUITY.
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 |
|---|---|---|---|
Robert M Fockler President & CEO | Officer | 37.5 | $361,278 |
Barbara S Mora Asst Secretary & COO | Officer | 37.5 | $189,370 |
George Lumm Treasurer & CFO | Officer | 37.5 | $183,378 |
Caroline Kuebler Dir. Of Development | 37.5 | $163,391 | |
Veronica Jamison VP Of Philanthropic Services | 37.5 | $145,022 | |
Julia C Mcdonald VP Of Communications | 37.5 | $133,356 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz Investment Advisory | 4/29/22 | $282,375 |
Stellar Technology Solutions Llc Software | 4/29/22 | $171,594 |
Sullivan Branding Llc Marketing | 4/29/22 | $128,009 |
Robert Half Staffing | 4/29/22 | $118,606 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $21,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $784,733 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,216,324 |
| Noncash contributions included in lines 1a–1f | $22,396,818 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,022,057 |
| Total Program Service Revenue | $4,643,473 |
| Investment income | $11,561,315 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,732,318 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,399,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,145,890 |
| Grants and other assistance to domestic individuals. | $167,640 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,389,573 |
| Compensation of current officers, directors, key employees. | $1,197,424 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $593,106 |
| Pension plan accruals and contributions | $55,383 |
| Other employee benefits | $93,255 |
| Payroll taxes | $115,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,216 |
| Fees for services: Accounting | $69,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,411,409 |
| Fees for services: Other | $210,638 |
| Advertising and promotion | $170,263 |
| Office expenses | $55,195 |
| Information technology | $226,435 |
| Royalties | $0 |
| Occupancy | $207,189 |
| Travel | $21,526 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $83,165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,096 |
| Insurance | $144,170 |
| All other expenses | $0 |
| Total functional expenses | $124,638,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,277,586 |
| Pledges and grants receivable | $605,759 |
| Accounts receivable, net | $35,421 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,589,590 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,063 |
| Net Land, buildings, and equipment | $906,759 |
| Investments—publicly traded securities | $677,762,887 |
| Investments—other securities | $119,375,469 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,093,906 |
| Total assets | $852,675,440 |
| Accounts payable and accrued expenses | $222,756 |
| Grants payable | $19,013 |
| Deferred revenue | $479,982 |
| 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 | $9,646,949 |
| Total liabilities | $10,368,700 |
| Net assets without donor restrictions | $663,932,503 |
| Net assets with donor restrictions | $178,374,237 |
| 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 | $852,675,440 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Greater Memphis Inc has awarded $113,392,634 in support to 757 organizations.
| Grant Recipient | Amount |
|---|---|
AUBURN UNIVERSITY FOUNDATION PURPOSE: GENERAL OPERATIONAL SUPPORT | $38,000 |
US ISRAEL EDUCATION ASSOCIATION PURPOSE: GENERAL OPERATIONAL SUPPORT | $100,000 |
BIRMINGHAM-SOUTHERN COLLEGE PURPOSE: GENERAL OPERATIONAL SUPPORT | $30,000 |
SOUTHERN POVERTY LAW CENTER INC PURPOSE: GENERAL OPERATIONAL SUPPORT | $15,101 |
CENTER FOR EXECUTIVE LEADERSHIP PURPOSE: GENERAL OPERATIONAL SUPPORT | $20,000 |
3 CIRCLE CHURCH PURPOSE: GENERAL OPERATIONAL SUPPORT | $10,800 |