Memphis Rock-N-Soul Inc

Analysis

Memphis Rock-N-Soul Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Rock-N-Soul Inc reported income of $2.5m and spending of $1.3m, leaving 47% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.5m (+119%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 115%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Memphis Rock-N-Soul Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include The Cavaliers Ap&e Inc ($2.5m), Springer Opera House Arts Association Inc ($2.5m) and National Scholastic Press Association ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 14% of the total. Other salaries and wages came to $430k. At year end it held assets of $3.6m against liabilities of $18k, net assets of $3.6m. It reported 10 employees.