Contemporary Arts Memphis

Analysis

Contemporary Arts Memphis is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 2022, 4 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, Contemporary Arts Memphis reported income of $902k and spending of $685k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $70k to $902k (+1189%), an average of +1189% a year. The sharpest change came in the year to December 2023, when income rose by 1189%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Contemporary Arts Memphis sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within TN. Charities of a similar size with the same main cause include Metropolitan Educational Theatre Network Inc a Delaware Corp ($902k), Millerton Community Cinema Inc ($903k) and Southern Political Science Association Inc ($902k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.4% of the total. Other salaries and wages came to $198k. At year end it held assets of $287k against liabilities of $16k, net assets of $272k. It reported 10 employees.