Forward Memphis
- Assets
- $276.0k
- Revenue
- $611.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Memphis, TN
- Founding
- Data as of
- 12/2023
- EIN
- 88-3796632
Organization Overview
Forward Memphis is located in Memphis, TN. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Forward Memphis employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Memphis 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, Forward Memphis generated $611.9k in total revenue. All expenses for the organization totaled $363.8k during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FORWARD MEMPHIS COLLABORATES WITH FINANCIAL INSTITUTIONS, NON-PROFITS, FAITH-BASED ORGANIZATIONS, AND CORPORATIONS TO END GENERATIONAL CYCLES OF PAYDAY LENDING THROUGH FINANCIAL LITERACY EDUCATION, FINANCIAL COACHING, AND FINANCIAL ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL LITERACY COACHING - APPLICANTS COMPLETED AN ONLINE APPLICATION FOR ASSISTANCE. UPON COMPLETION, APPLICANTS ARE MATCHED WITH A FINANCIAL COACH. 270 APPLICANTS RECEIVED ONE-TO-ONE COACHING TO DEVELOP SUSTAINABLE FINANCIAL SOLUTIONS.
FREEDOM FUND - 51 APPLICANTS RECEIVED FINANCIAL ASSISTANCE TO ASSIST WITH THE ELIMINATION OF PREDITORY LOANS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Moody Chief Executive Officer | 40 | $108,000 | |
Ephie Johnson Board President | OfficerTrustee | $0 | |
Steven Brown Board Treasurer | OfficerTrustee | $0 | |
Erin Bledsoe Board Secretary | OfficerTrustee | $0 | |
Jerry Corless Board Member | Trustee | $0 | |
Darin Johnson Board Member | Trustee | $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 | $611,678 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $611,678 |
| Total Program Service Revenue | $0 |
| Investment income | $259 |
| 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 | $611,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $24,194 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,000 |
| Compensation of current officers, directors, key employees. | $10,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $110,960 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,204 |
| Payroll taxes | $17,875 |
| Fees for services: Management | $35,874 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,156 |
| Advertising and promotion | $42,306 |
| Office expenses | $6,948 |
| 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 | $115 |
| Insurance | $375 |
| All other expenses | $0 |
| Total functional expenses | $363,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,693 |
| Savings and temporary cash investments | $133,271 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,320 |
| 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 | $747 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $276,031 |
| Accounts payable and accrued expenses | $2,402 |
| 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 | $2,402 |
| Net assets without donor restrictions | $0 |
| 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 | $273,629 |
| Total liabilities and net assets/fund balances | $276,031 |