Memphis Chamber Foundation

Analysis

Memphis Chamber Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 1970, 56 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Memphis Chamber Foundation reported income of $315k and spending of $21k, leaving 93% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $218k to $315k (+44%), an average of +9.6% a year. The sharpest change came in the year to December 2020, when income rose by 646%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Memphis Chamber Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 64th percentile within TN. Charities of a similar size with the same main cause include Serenade Heights Inc ($315k), Ryes Manor Senior Citizens Apartmen Housing Development Fund Corp ($315k) and Safe Haven Transitional Inc ($315k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. At year end it held assets of $2.5m against liabilities of $71k, net assets of $2.4m.