University Of Memphis Foundation
- Assets
- $175.4m
- Revenue
- $38.7m
- Investments
- $19.5m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 01/1965
- Data as of
- 06/2021
- EIN
- 62-6048540
Organization Overview
University Of Memphis Foundation is located in Memphis, TN. The organization was established in 1965. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Memphis 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 06/2021, University Of Memphis Foundation generated $38.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $32.5m during the year ending 06/2021. While expenses have increased by 5.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION ACCEPTS AND ADMINISTERS SUPPORT TO THE UNIVERSITY OF MEMPHIS.
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDED FUNDS FOR SCHOLARSHIPS, FELLOWSHIPS, ACADEMIC ENRICHMENT AND VARIOUS OTHER PROGRAMS AND PROJECTS IN SUPPORT OF THE STUDENTS, FACULTY, STAFF AND MISSION OF THE UNIVERSITY OF MEMPHIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr David Tate Vice President | OfficerTrustee | 1 | $0 |
Mr Fred Towler President | OfficerTrustee | 1 | $0 |
Mr John Wilfong Treasurer | OfficerTrustee | 1 | $0 |
Mr Douglas Scarboro Secretary | OfficerTrustee | 1 | $0 |
Byron Morgan Managing Director | Officer | 40 | $0 |
Carolyn Stanley Foundation Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Llc Investment Mgmt Fee | 6/29/20 | $305,876 |
One Diversified Llc Construction | 6/29/20 | $301,978 |
G3se Llc Tour Mgmt Fees | 6/29/20 | $232,490 |
Hometronix Of Arkansas Llc Construction | 6/29/20 | $100,144 |
Cambridge Associates Llc Investment Mgmt Fee | 6/29/20 | $305,876 |
One Diversified Llc Construction | 6/29/20 | $301,978 |
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 | $31,976,170 |
| Noncash contributions included in lines 1a–1f | $3,771,396 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,976,170 |
| Total Program Service Revenue | $0 |
| Investment income | $2,469,055 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,119,632 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,710,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,798,031 |
| 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. | $324,523 |
| Compensation of current officers, directors, key employees. | $324,523 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $492,590 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $158,007 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,208 |
| Fees for services: Accounting | $25,112 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $110,064 |
| Fees for services: Other | $26,962 |
| Advertising and promotion | $85 |
| Office expenses | $7,658 |
| Information technology | $1,603 |
| 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 | $258 |
| Interest | $362,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,955 |
| All other expenses | $0 |
| Total functional expenses | $32,519,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,581,356 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,103,196 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $141,043,979 |
| Investments—other securities | $19,523,924 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $144,347 |
| Total assets | $175,396,802 |
| Accounts payable and accrued expenses | $4,268,756 |
| 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 | $147,750 |
| Total liabilities | $4,416,506 |
| Net assets without donor restrictions | $4,044,010 |
| Net assets with donor restrictions | $166,936,286 |
| 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 | $175,396,802 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Of Memphis Foundation has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Brinkley Foundation Memphis, TN PURPOSE: CHARITABLE | $1,500 |
Endowment Analysis
| Beg. Balance | $96,488,206 |
| Earnings | $32,930,842 |
| Net Contributions | $10,860,668 |
| Other Expense | $3,611,491 |
| Ending Balance | $136,668,225 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
George Mason University Foundation Inc Fairfax, VA | $459,289,058 | $113,505,085 |
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
University Of Mississippi Foundation Oxford, MS | $716,526,476 | $64,727,887 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |