Vibrant Memphis Inc

Analysis

Vibrant Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 2017, 9 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, Vibrant Memphis Inc reported income of $2.6m and spending of $3.6m, spending 138% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.7m to $2.6m (-61%), an average of -21% a year. The sharpest change came in the year to December 2023, when income rose by 106%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vibrant Memphis Inc sits at the 87th percentile: it is larger than about 87% 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 Duncan Area Economic Development Foundation ($2.6m), Jevs Foundation ($2.6m) and Agc International Union of Oprtng Engnrs 701 TRNG Trust Fund ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $326k (9.0% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $16.1m against liabilities of $3.6m, net assets of $12.5m. It reported 19 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.