Civic Intelligence

The Consortium Mmt

EIN 46-1568302 • 501(c)3 • Memphis, TN

Profile

To develop a viable music industry in memphis for the future by providing a structured learning environment to enrich and equip our talents with proven tools to build the next generation of successful music professionals. The consortium mmt will provide real world experience and mentorship, creating a direct path to success for talented recording artists/entertainers, songwriters and producers.

119 South Main Street Suite 111Memphis, TN 38103

www.theconsortiummmt.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.00x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

43rd percentile

0.01x

Higher debt load relative to revenue than 43% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

2nd percentile

-255%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-27%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

2nd percentile

-77%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$468,055

Down $54,126 (-10%) from 2023

Liabilities

Up

$451

Up $20 (+4.6%) from 2023

Net Assets

Down

$467,604

Down $54,146 (-10%) from 2023

Revenue

Up

$94,854

Up $12,876 (+16%) from 2023

Expenses

Down

$148,032

Down $4,064 (-2.7%) from 2023

Net Income

Up

-$53,178

Up $16,940 (+24%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2013: $1,195,676Liabilities 2013: $14,853Net Assets 2013: $1,180,8232013Assets 2014: $1,158,636Liabilities 2014: $3,634Net Assets 2014: $1,155,0022014Assets 2015: $1,699,677Liabilities 2015: $4,438Net Assets 2015: $1,695,2392015Assets 2016: $1,682,165Liabilities 2016: $10,581Net Assets 2016: $1,671,5842016Assets 2017: $1,583,984Liabilities 2017: $6,897Net Assets 2017: $1,577,0872017Assets 2018: $1,405,544Liabilities 2018: $7,507Net Assets 2018: $1,398,0372018Assets 2019: $1,093,787Liabilities 2019: $6,157Net Assets 2019: $1,087,6302019Assets 2020: $750,676Liabilities 2020: $3,093Net Assets 2020: $747,5832020Assets 2021: $803,599Liabilities 2021: $0Net Assets 2021: $803,5992021Assets 2022: $588,943Liabilities 2022: $359Net Assets 2022: $588,5842022Assets 2023: $522,181Liabilities 2023: $431Net Assets 2023: $521,7502023Assets 2024: $468,055Liabilities 2024: $451Net Assets 2024: $467,6042024

Highlighted filing

2024

Assets$468,055
Liabilities$451
Net Assets$467,604

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2013: $1,254,059Expenses 2013: $73,236Net Income 2013: $1,180,8232013Revenue 2014: $792,419Expenses 2014: $818,241Net Income 2014: -$25,8222014Revenue 2015: $887,294Expenses 2015: $347,057Net Income 2015: $540,2372015Revenue 2016: $504,582Expenses 2016: $529,868Net Income 2016: -$25,2862016Revenue 2017: $541,768Expenses 2017: $645,076Net Income 2017: -$103,3082017Revenue 2018: $314,217Expenses 2018: $477,151Net Income 2018: -$162,9342018Revenue 2019: $74,786Expenses 2019: $443,799Net Income 2019: -$369,0132019Revenue 2020: $37,145Expenses 2020: $403,249Net Income 2020: -$366,1042020Revenue 2021: $239,039Expenses 2021: $246,498Net Income 2021: -$7,4592021Revenue 2022: $54,544Expenses 2022: $193,364Net Income 2022: -$138,8202022Revenue 2023: $81,978Expenses 2023: $152,096Net Income 2023: -$70,1182023Revenue 2024: $94,854Expenses 2024: $148,032Net Income 2024: -$53,1782024

Highlighted filing

2024

Revenue$94,854
Expenses$148,032
Net Income-$53,178

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 20, 2025
Return Version
2024v5.1
Gross Receipts
$448,265
Mission and Program Overview

Mission

To develop a viable music industry in memphis for the future by providing a structured learning environment to enrich and equip our talents with proven tools to build the next generation of successful music professionals. The consortium mmt will provide real world experience and mentorship, creating a direct path to success for talented recording artists/entertainers, songwriters and producers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,122$367,200▲ $366,078
Cash and Non-Interest-Bearing Accounts$476,059$55,855▼ $420,204
Pledges and Grants Receivable$45,000$45,000→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$522,181$468,055▼ $54,126
Liabilities
Other Liabilities$431$451▲ $20
Total Liabilities$431$451▲ $20
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$476,750$422,604▼ $54,146
Net Assets With Donor Restrictions$45,000$45,000→ $0
Total Net Assets Fund Balance$521,750$467,604▼ $54,146
Total Liabilities and Net Assets / Fund Balance$522,181$468,055▼ $54,126

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$434,059$434,059
Equipment$0$128,113$128,113
Other Securities$366,788--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lance FreedVice Chairman
Danese Banks JdDirector
David EdmondsDirector
David Kraus MdDirector
Ernest StricklandDirector
Neal Beckford MdDirector
Pamela Pitts Cfp JdDirector
David PorterExecutive Director
Morgan BohannonSecretary
Caren CreasonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$76,509
Program Service Revenue
$0
Investment Income
$18,345
Other Revenue
$0
All Other Contributions
$76,509
Change in Net Assets
$-53,178
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$91,253
Salaries, Compensation, and Employee Benefits$56,779
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$43,668--$43,668
Other Salaries and Wages$40,559$2,135-$42,694
Fees for Services Other$160$13,707-$13,867
Insurance$10,375$1,831-$12,206
Other Employee Benefits$10,306$543-$10,849
Fees for Services Accounting-$5,507-$5,507
Payroll Taxes$3,074$162-$3,236
Office Expenses$1,618--$1,618
Other Expenses$1,963$240-$240
Fees for Services Management-$125-$125
All Other Expenses-$61-$61
Total Functional Expenses$118,542$29,490$0$148,032
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card$451
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Management and the finance committee performs a detail review of the form 990. In addition, copies of the form 990 are provided to each board member for their review and questions. If any changes result from the review, they are made prior to the filing of the form 990.

Form 990, Part VI, Section B, Line 12C

The written conflict of interest policy is reviewed annually. Each director, principal officer and member of a committee with board delegated powers shall annually sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and must engage primarily in activities which accomplish one or more of its tax-exempt purposes in order to mantain its federal tax exemption.

Form 990, Part VI, Section B, Line 15

The consortium mmt conducts periodic reviews to examine whether compensation arrangements and benefits are reasonable based on competent survey information (if reasonably available), and the result of arm's length bargaining.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The 990 is also available through guidestar.

Filing and Contact Details

Filer

Filer Name
The Consortium Mmt
EIN
46-1568302
Phone
9015433559
Address
119 SOUTH MAIN STREET SUITE 111, MEMPHIS, TN 38103

Signing Officer

Name
David Porter
Title
Executive Director
Phone
9015433559
Signed
2025-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Porter
Formed
2012
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
0

Preparer

Firm
The Marston Group Plc
Address
1661 INTERNATIONAL DRIVE SUITE 250, MEMPHIS, TN 38120
Preparer
Caren Creason CPA Cva
Phone
9017613003
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING 2.

Raw XML AppendixShowing 400 of 416 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT AND THE FINANCE COMMITTEE PERFORMS A DETAIL REVIEW OF THE FORM 990. IN ADDITION, COPIES OF THE FORM 990 ARE PROVIDED TO EACH BOARD MEMBER FOR THEIR REVIEW AND QUESTIONS. IF ANY CHANGES RESULT FROM THE REVIEW, THEY ARE MADE PRIOR TO THE FILING OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WRITTEN CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES IN ORDER TO MANTAIN ITS FEDERAL TAX EXEMPTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONSORTIUM MMT CONDUCTS PERIODIC REVIEWS TO EXAMINE WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE BASED ON COMPETENT SURVEY INFORMATION (IF REASONABLY AVAILABLE), AND THE RESULT OF ARM'S LENGTH BARGAINING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE 990 IS ALSO AVAILABLE THROUGH GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING 2.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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