Memphis Tomorrow

Analysis

Memphis Tomorrow is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in January 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Tomorrow reported income of $953k and spending of $1.2m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $953k (-19%), an average of -5.1% a year. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Memphis Tomorrow sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within TN. Charities of a similar size with the same main cause include Wecode KC ($952k), Augusta Electrical Joint Apprenticeship and Training Fund ($953k) and Boscobel Heights Development Company Inc ($952k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $291k (25% of expenses). At year end it held assets of $503k against liabilities of $254k, net assets of $249k. It reported 1 employees.