University of Memphis Foundation

Analysis

University of Memphis Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in January 1965, 61 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Memphis Foundation reported income of $47.6m and spending of $32.8m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $36.0m to $47.6m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2021, when income rose by 68%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Memphis Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Sisters of Saint Ann Anna Maria College ($47.6m), Western Michigan University Foundation ($47.7m) and North Carolina Wesleyan University ($47.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $344k (1.0% of expenses). Other salaries and wages came to $104k. At year end it held assets of $222.7m against liabilities of $15.7m, net assets of $207.1m.