Downtown Memphis Ministry Inc

Analysis

Downtown Memphis Ministry Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 1988, 38 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, Downtown Memphis Ministry Inc reported income of $2.4m and spending of $2.4m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $2.4m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Downtown Memphis Ministry Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Agnesian Healthcare Foundation Inc ($2.4m), Working Against Violence Inc ($2.4m) and Unity Communtiy Action Council Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $156k (6.5% of expenses). Other salaries and wages came to $897k. At year end it held assets of $1.1m against liabilities of $571k, net assets of $534k. It reported 31 employees.