First Horizon Employee Relief Fund Inc

Analysis

First Horizon Employee Relief Fund Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, First Horizon Employee Relief Fund Inc reported income of $64k and spending of $20k, leaving 68% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $125k to $64k (-49%), an average of -49% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. Over the whole period it spent 34% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, First Horizon Employee Relief Fund Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 24th percentile within TN. Charities of a similar size with the same main cause include Wood Lane Foundation Inc ($64k), Haitian Hope ($64k) and Congregate Living Opportunites Inc ($64k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $353k against liabilities of $0, net assets of $353k.