Turley Foundation Inc
- Assets
- $44.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 04/1994
- Data as of
- 04/2023
- EIN
- 62-1557849
Organization Overview
Turley Foundation Inc is located in Memphis, TN. The organization was established in 1994. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Turley Foundation 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, Turley Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $624.4k during the year ending 04/2023. While expenses have increased by 7.5% per year over the past 5 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.
Since 2016, Turley Foundation Inc has awarded 84 individual grants totaling $1,632,819. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO ASSIST THE COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. IN CARRYING OUT ITS CHARITABLE MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ONLY PROGRAM IS TO ACCEPT PROPERTY FOR USE EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES PRIMARILY IN AND FOR THE BENEFIT OF MEMPHIS AND SHELBY COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Fockler President | OfficerTrustee | 1 | $0 |
Barbara S Mora Secretary | OfficerTrustee | 1 | $0 |
Henry Turley Jr Director | Trustee | 1 | $0 |
Alex Turley Chair | OfficerTrustee | 1 | $0 |
George Lumm Treasurer Start 2.22 | OfficerTrustee | 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 | $1,577,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,577,000 |
| Total Program Service Revenue | $0 |
| Investment income | $579,763 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$227,945 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,928,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500,800 |
| 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 | $96,647 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $3,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,268 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $624,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$18,472 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,604 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $44,661,414 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,645,546 |
| Accounts payable and accrued expenses | $975 |
| 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 | $975 |
| Net assets without donor restrictions | $44,644,571 |
| 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 | $44,645,546 |
Grants Awarded
Over the last fiscal year, Turley Foundation Inc has awarded $407,500 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BOY SCOUTS OF AMERICA CHICKASAW COUNCIL PURPOSE: GENERAL OPERATIONAL SUPPORT | $10,000 |
BRIDGES INC PURPOSE: GENERAL OPERATIONAL SUPPORT | $25,000 |
MEMPHIS BROOKS MUSEUM OF ART INC PURPOSE: GENERAL OPERATIONAL SUPPORT | $25,000 |
NATIONAL CIVIL RIGHTS MUSEUM PURPOSE: GENERAL OPERATIONAL SUPPORT | $100,000 |
CLEAN MEMPHIS ORGANIZATION PURPOSE: GENERAL OPERATIONAL SUPPORT | $10,000 |
NEW BALLET ENSEMBLE PURPOSE: GENERAL OPERATIONAL SUPPORT | $20,000 |