Memphis Center City Development Corporation

Analysis

Memphis Center City Development Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 1978, 48 years ago. 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 June 2023, Memphis Center City Development Corporation reported income of $1.7m and spending of $1.6m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.6m to $1.7m (-51%), an average of -16% a year. The sharpest change came in the year to June 2023, when income rose by 1115%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memphis Center City Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Community Administrative Services Inc ($1.7m), Adoptive and Foster Family Coalition of New York Inc ($1.7m) and Uspirend ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 0.4% of the total. At year end it held assets of $12.2m against liabilities of $1.6m, net assets of $10.6m.