Memphis Fourth Estate Inc
- Assets
- $2.9m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 76
- Location
- Memphis, TN
- Founding
- 09/2018
- Data as of
- 12/2023
- EIN
- 82-5339555
Organization Overview
Memphis Fourth Estate Inc, operating under the name The Daily Memphian, is located in Memphis, TN. The organization was established in 2018. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Daily Memphian employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Daily Memphian 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 12/2023, Daily Memphian generated $4.8m 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 (6.2%) each year. All expenses for the organization totaled $5.9m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEMPHIS FOURTH ESTATE D/B/A THE DAILY MEMPHIAN IS AN INDEPENDENT, NOT-FOR- ORGANIZATION WITH THE MISSION OF GATHERING AND DISSEMINATING INFORMATION IN A NONPARTISAN MANNER ABOUT IMPORTANT PUBLIC-POLICY ISSUES AND MATTERS OF IMPORTANCE TO RESIDENTS OF MEMPHIS, TN AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
MEMPHIS FOURTH ESTATE GATHERS AND DISSEMINATES INFORMATION IN A NONPARTISAN MANNER ABOUT IMPORTANT PUBLIC-POLICY ISSUES AND MATTERS OF IMPORTANCE TO RESIDENTS OF THE CITY OF MEMPHIS AND SURROUNDING AREAS, USING INVESTIGATIVE, EXPLANATORY, DATA-DRIVEN AND MULTIMEDIA JOURNALISM THROUGH ITS ONLINE PUBLICATION FOR WHICH IT OFFERS MONTHLY AND ANNUAL SUBSCRIPTIONS. IN ADDITION TO THE ONLINE PUBLICATION, THE ORGANIZATION FULFILLS AN EDUCATIONAL ROLE FOR THE PUBLIC AND FOR JOURNALISTS AND ASPIRING JOURNALISTS THROUGH, AMOUNT OTHER MEANS, INTERNSHIPS AND COLLABORATIVE ACTIVITY WITH LOCAL COLLEGES AND UNIVERSITIES. IT ALSO SEEKS TO ENGAGE THE COMMUNITY BY PROVIDING SEMINAR SERIES, SYMPOSIA, AND WORKSHOPS, BOTH ONLINE AND BY CONVENTIONAL MEANS, ON SUBJECTS OF IMPORTANCE TO THE COMMUNITY.
MEMPHIS FOURTH ESTATE GATHERS AND DISSEMINATES INFORMATION IN A NONPARTISAN MANNER ABOUT IMPORTANT PUBLIC-POLICY ISSUES AND MATTERS OF IMPORTANCE TO RESIDENTS OF THE CITY OF MEMPHIS AND SURROUNDING AREAS, USING INVESTIGATIVE, EXPLANATORY, DATA-DRIVEN AND MULTIMEDIA JOURNALISM THROUGH ITS ONLINE PUBLICATION FOR WHICH IT OFFERS MONTHLY AND ANNUAL SUBSCRIPTIONS. IN ADDITION TO THE ONLINE PUBLICATION, THE ORGANIZATION FULFILLS AN EDUCATIONAL ROLE FOR THE PUBLIC AND FOR JOURNALISTS AND ASPIRING JOURNALISTS THROUGH, AMOUNT OTHER MEANS, INTERNSHIPS AND COLLABORATIVE ACTIVITY WITH LOCAL COLLEGES AND UNIVERSITIES. IT ALSO SEEKS TO ENGAGE THE COMMUNITY BY PROVIDING SEMINAR SERIES, SYMPOSIA, AND WORKSHOPS, BOTH ONLINE AND BY CONVENTIONAL MEANS, ON SUBJECTS OF IMPORTANCE TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Barnes CEO | Officer | 40 | $170,495 |
Jason Israel Cto | Officer | 40 | $166,048 |
Geoffrey Calkins Columnist | Officer | 40 | $158,430 |
Roshun Austin Treasurer | Trustee | 4 | $0 |
Andy Cates President | Trustee | 8 | $0 |
Nancy Coffee 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 | $1,206,271 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,206,271 |
| Total Program Service Revenue | $294,442 |
| Investment income | $58,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $114 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,790,206 |
| 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. | $1,241,349 |
| Compensation of current officers, directors, key employees. | $268,492 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $894,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $91,894 |
| Payroll taxes | $73,371 |
| Fees for services: Management | $64,300 |
| Fees for services: Legal | $3,390 |
| Fees for services: Accounting | $13,757 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $110,507 |
| Office expenses | $46,182 |
| Information technology | $71,969 |
| Royalties | $0 |
| Occupancy | $5,774 |
| Travel | $6,345 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $299,268 |
| Insurance | $8,830 |
| All other expenses | $628,870 |
| Total functional expenses | $5,895,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318,848 |
| Savings and temporary cash investments | $722,498 |
| Pledges and grants receivable | $792,145 |
| Accounts receivable, net | $151,523 |
| 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 | $1,550 |
| Net Land, buildings, and equipment | $602,765 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $263,269 |
| Total assets | $2,852,598 |
| Accounts payable and accrued expenses | $186,568 |
| Grants payable | $0 |
| Deferred revenue | $794,293 |
| 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 | $271,686 |
| Total liabilities | $1,252,547 |
| Net assets without donor restrictions | $780,051 |
| Net assets with donor restrictions | $820,000 |
| 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 | $2,852,598 |