Generations Inc
- Assets
- $2.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 19
- Location
- Memphis, TN
- Founding
- 02/1996
- Data as of
- 06/2024
- EIN
- 62-1536066
Organization Overview
Generations Inc is located in Memphis, TN. The organization was established in 1996. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 06/2024, Generations Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Generations 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 06/2024, Generations Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.0m during the year ending 06/2024. While expenses have increased by 3.8% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND BENEFIT OF MERITAN IN ADDITION TO FUNDRAISING ACTIVITIES AND IS A MANAGEMENT AGENT FOR EMPLOYEES AND PROPERTY OF MERITAN INC, AND APELAH INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXCLUSIVELY TO SUPPORT AND BENEFIT MERITAN INC AND APELAH INC IN ADDITION TO FUNDRAISING ACTIVITIES. GENERATIONS INC IS A MANAGEMENT AGENT FOR EMPLOYEE AND PROPERTY OF MERITAN INC AND APELAH INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Jewel Vice Chairman | Trustee | 1 | $0 |
Chrystal Ensey Director | Trustee | 1 | $0 |
Stephen Hoffman Director | Trustee | 1 | $0 |
Erin Nelson Chairman | Trustee | 1 | $0 |
Angelika Woods Director | Trustee | 1 | $0 |
Alex Mccullough Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,793,424 |
| Investment income | $0 |
| 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 | $2,814,527 |
| 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. | $943,341 |
| Compensation of current officers, directors, key employees. | $943,341 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $685,737 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98,718 |
| Payroll taxes | $100,855 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $29,834 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $691 |
| Interest | $13,232 |
| Payments to affiliates | $733,007 |
| Depreciation, depletion, and amortization | $85,990 |
| Insurance | $7,483 |
| All other expenses | $3,640 |
| Total functional expenses | $2,954,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $34,292 |
| Net Land, buildings, and equipment | $1,682,278 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $267,908 |
| Total assets | $1,984,891 |
| Accounts payable and accrued expenses | $181,960 |
| 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 | $5,800 |
| Total liabilities | $187,760 |
| Net assets without donor restrictions | $1,797,131 |
| 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 | $1,984,891 |