Memphis Education Fund Inc

Analysis

Memphis Education Fund Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Memphis Education Fund Inc reported income of $3.5m and spending of $3.9m, spending 112% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $11.9m to $3.5m (-71%), an average of -22% a year. The sharpest change came in the year to December 2021, when income dropped by 49%. Over the whole period it spent 125% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Memphis Education Fund Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within TN. Charities of a similar size with the same main cause include Burien Montessori School Inc ($3.5m), Partner in Employment ($3.5m) and University Center of Greenville Inc ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $255k (6.6% of expenses). Other salaries and wages came to $479k. At year end it held assets of $2.2m against liabilities of $372k, net assets of $1.9m. It reported 6 employees.