Memphis Youth Arts Initiative

Analysis

Memphis Youth Arts Initiative is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in April 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Memphis Youth Arts Initiative reported income of $63k and spending of $107k, spending 171% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $90k to $63k (-30%), an average of -30% a year. The sharpest change came in the year to June 2023, when income dropped by 30%. Over the whole period it spent 134% 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 Youth Arts Initiative sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within TN. Charities of a similar size with the same main cause include Community Concert Association of Knox County ($63k), Krenov Foundation ($63k) and Small Museum Association Inc ($63k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. At year end it held assets of $30k against liabilities of $0, net assets of $30k.