Community Foundation of Greater Memphis Inc

Analysis

Community Foundation of Greater Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1990, 36 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 April 2023, Community Foundation of Greater Memphis Inc reported income of $114.4m and spending of $124.6m, spending 109% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income fell from $160.6m to $114.4m (-29%), an average of -8.1% a year. The sharpest change came in the year to April 2020, when income rose by 221%. Over the whole period it spent 63% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation of Greater Memphis Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TN. Charities of a similar size with the same main cause include Jewish Federation of Cleveland ($113.3m), Saint Paul & Minnesota Foundation ($114.4m) and Valley of the Sun United Way ($110.6m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 87% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $1.4m (1.1% of expenses). Other salaries and wages came to $593k. At year end it held assets of $852.7m against liabilities of $10.4m, net assets of $842.3m. It reported 19 employees.