Advance Memphis

Analysis

Advance Memphis is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Advance Memphis reported income of $2.7m and spending of $2.8m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.9m to $2.7m (-8.4%), an average of -2.2% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Advance Memphis 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 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Paideia Academy ($2.7m), Tradesfutures ($2.7m) and Greenville Christian School Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $134k (4.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.9m against liabilities of $126k, net assets of $2.8m. It reported 143 employees.