Memphis Challenge Inc

Analysis

Memphis Challenge Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 1990, 36 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 December 2023, Memphis Challenge Inc reported income of $310k and spending of $341k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $250k to $310k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 81%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memphis Challenge Inc sits at the 61st percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 63rd percentile within TN. Charities of a similar size with the same main cause include Kansas Livestock Foundation ($310k), Fine Arts Society of Indianapolis ($310k) and Frankfort Community Schools Building Trades Corporation ($310k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $119k (35% of expenses). Other salaries and wages came to $109k. At year end it held assets of $143k against liabilities of $0, net assets of $143k. It reported 5 employees.