Tennis Memphis Inc

Analysis

Tennis Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2023, Tennis Memphis Inc reported income of $1.3m and spending of $1.4m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.3m (+9.1%), an average of +2.2% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Tennis Memphis Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within TN. Charities of a similar size with the same main cause include Pembina Gorge Foundation ($1.3m), Far Post Soccer Club Inc ($1.3m) and Arapahoe Hockey Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 88% of the total. Other salaries and wages came to $940k. At year end it held assets of $317k against liabilities of $18k, net assets of $298k. It reported 68 employees.