Slingshot Memphis Inc

Analysis

Slingshot Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Slingshot Memphis Inc reported income of $2.2m and spending of $2.7m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.3m to $2.2m (-6.4%), an average of -1.6% a year. The sharpest change came in the year to December 2022, when income dropped by 25%. Over the whole period it spent 103% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Slingshot Memphis Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Asian American-Pacific Islanders in Philanthropy ($2.2m), Mercyhealth Development Foundation Inc ($2.2m) and Community Shares of Colorado Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $197k (7.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.2m against liabilities of $936k, net assets of $280k. It reported 24 employees.