First Horizon Foundation
- Assets
- $21.5m
- Revenue
- $1.9m
- Investments
- $21.2m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 08/1993
- Data as of
- 12/2022
- EIN
- 62-1533987
Organization Overview
First Horizon Foundation is located in Memphis, TN. The organization was established in 1993. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Horizon Foundation 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 12/2022, First Horizon Foundation generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (34.5%) each year. All expenses for the organization totaled $25.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hope Dmuchowski Director | 0 | $0 | |
Clyde A Billings Jr Vp/secretary/director | 0 | $0 | |
Lockie Wade Contributions Manager/officer | 0 | $0 | |
Charles T Tuggle Jr Director | 0 | $0 | |
Tammy Locascio Director | 0 | $0 | |
Gregg Lansky President/treasurer/cfo/direct | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $321,969 |
| Interest on Savings | $0 |
| Dividends & Interest | $533,833 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $864,891 |
| Capital Gain Net Income | $864,891 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $139,738 |
| Total Revenue | $1,860,431 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $160,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $50,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,935,759 |
| Total operating and administrative expenses | $7,319,059 |
| Contributions, gifts, grants paid | $17,825,653 |
| Total expenses and disbursements | $25,144,712 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,687 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,949,962 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,492,415 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |