Memphis Fourth Estate Inc

Analysis

Memphis Fourth Estate Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Fourth Estate Inc reported income of $4.8m and spending of $5.9m, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $4.8m (+37%), an average of +8.3% a year. The sharpest change came in the year to December 2021, when income rose by 93%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Memphis Fourth Estate Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Asia Pacific Cultural Center ($4.8m), Cultural Alliance of Medfield ($4.8m) and Institute for Security and Technology ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $1.2m (21% of expenses). Other salaries and wages came to $895k. At year end it held assets of $2.9m against liabilities of $1.3m, net assets of $1.6m. It reported 76 employees.