Kipp Memphis Inc

Analysis

Kipp Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Kipp Memphis Inc reported income of $25.2m and spending of $20.3m, spending 80% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $31.0m to $25.2m (-19%), an average of -4.0% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kipp Memphis Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TN. Charities of a similar size with the same main cause include Currey Ingram Academy ($25.2m), Santa Catalina School ($25.3m) and Herron High School Inc ($25.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $415k (2.0% of expenses). Other salaries and wages came to $10.4m. At year end it held assets of $26.7m against liabilities of $4.2m, net assets of $22.5m. It reported 257 employees.