Civic Intelligence

Crosstown Redevelopment Cooperative

EIN 47-2073263 • 501(c)3 • Memphis, TN

Profile

To assist in the revitalization and economic development of the crosstown neighborhood in memphis, tennessee, by assisting in and facilitating the management, preservation and redevelopment of the crosstown project, now known as crosstown concourse. The foregoing shall include, without limitation, acting as a manager and/or member of building owner.

20 Huling AvenueMemphis, TN 38103

n/A

Siviq Scores

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

Liabilities / Assets

98th percentile

1.47x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.84x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

28th percentile

-2.7%

Higher net margin than 28% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

84th percentile

$368,372

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 24.6% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

89th percentile

32%

Faster asset growth than 89% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-39%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$12,051,221

Up $2,904,428 (+32%) from 2023

Liabilities

Up

$17,754,188

Up $2,940,330 (+20%) from 2023

Net Assets

Down

-$5,702,967

Down $35,902 (-0.6%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin28th percentile

Revenue

Down

$1,498,905

Down $960,272 (-39%) from 2023

Expenses

Up

$1,539,534

Up $602,422 (+64%) from 2023

Net Income

Down

-$40,629

Down $1,562,694 (-103%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth89th percentile

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

$30M$20M$10M$0-$10MAssets 2019: $4,559,650Liabilities 2019: $122,873Net Assets 2019: $4,436,7772019Assets 2020: $6,270,613Liabilities 2020: $531,150Net Assets 2020: $5,739,4632020Assets 2021: $6,561,938Liabilities 2021: $1,204,267Net Assets 2021: $5,357,6712021Assets 2022: $26,466,461Liabilities 2022: $1,212,003Net Assets 2022: $25,254,4582022Assets 2023: $9,146,793Liabilities 2023: $14,813,858Net Assets 2023: -$5,667,0652023Assets 2024: $12,051,221Liabilities 2024: $17,754,188Net Assets 2024: -$5,702,9672024

Highlighted filing

2024

Assets$12,051,221
Liabilities$17,754,188
Net Assets-$5,702,967
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

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

$30M$20M$10M$0-$10MRevenue 2019: $4,595,344Expenses 2019: $161,382Net Income 2019: $4,433,9622019Revenue 2020: $2,105,273Expenses 2020: $802,587Net Income 2020: $1,302,6862020Revenue 2021: $218,357Expenses 2021: $400,149Net Income 2021: -$181,7922021Revenue 2022: $20,419,420Expenses 2022: $522,633Net Income 2022: $19,896,7872022Revenue 2023: $2,459,177Expenses 2023: $937,112Net Income 2023: $1,522,0652023Revenue 2024: $1,498,905Expenses 2024: $1,539,534Net Income 2024: -$40,6292024

Highlighted filing

2024

Revenue$1,498,905
Expenses$1,539,534
Net Income-$40,629
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$12,051,221
Liabilities
$17,754,188
Net assets
-$5,702,967
Revenue
$1,498,905
Expenses
$1,539,534
Net income
-$40,629
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$17.8$5.70$1.50$1.54$0.04
2023Detailed filing. Detailed filing data is available for this year.$9.15$14.8$5.67$2.46$0.94$1.52
2022Detailed filing. Detailed filing data is available for this year.$26.5$1.21$25.3$20.4$0.52$19.9
2021Detailed filing. Detailed filing data is available for this year.$6.56$1.20$5.36$0.22$0.40$0.18
2020Detailed filing. Detailed filing data is available for this year.$6.27$0.53$5.74$2.11$0.80$1.30
2019Detailed filing. Detailed filing data is available for this year.$4.56$0.12$4.44$4.60$0.16$4.43
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 11, 2025
Return Version
2024v5.1
Gross Receipts
$1,515,990
Mission and Program Overview

Mission

To assist in the revitalization and eceonomic development of the crosstown neighborhood in memphis, tennessee, by assisting in and facilitating the management, preservation and redevelopment of the crosstown project, now known as crosstown concourse. The foregoing shall include, without limitation, acting as a manager and/or member of building owner.

To assist in the revitalization and economic development of the crosstown neighborhood in memphis, tennessee, by assisting in and facilitating the management, preservation and redevelopment of the crosstown project, now known as crosstown concourse. The foregoing shall include, without limitation, acting as a manager and/or member of building owner.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$6,000,412$5,983,327▼ $17,085
Land, Buildings, and Equipment, Net$2,851,951$4,075,634▲ $1,223,683
Cash and Non-Interest-Bearing Accounts$285,626$248,158▼ $37,468
Prepaid Expenses and Deferred Charges$8,804$9,731▲ $927
Other Notes and Loans Receivable, Net$0--
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$9,146,793$12,051,221▲ $2,904,428
Other Assets Total$0$1,734,371▲ $1,734,371
Liabilities
Unsecured Notes Loans Payable$14,524,628$16,899,240▲ $2,374,612
Other Liabilities$2,124$514,092▲ $511,968
Accounts Payable and Accrued Expenses$287,106$340,856▲ $53,750
Total Liabilities$14,813,858$17,754,188▲ $2,940,330
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,667,065$-5,702,967▼ $35,902
Total Net Assets Fund Balance$-5,667,065$-5,702,967▼ $35,902
Total Liabilities and Net Assets / Fund Balance$9,146,793$12,051,221▲ $2,904,428

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,773,361$86,808$1,860,169
Other Land Buildings$1,482,920-$1,482,920
Land$819,353-$465,042
Other Assets Org$1,734,371--
Other Securities$5,983,327--
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Todd RichardsonPresident & CEOFT$245,000$123,372$368,372
Prince MatthewChief Operating OfficerFT$200,000$44,058$244,058

Board Members and Trustees

NameTitle
Mclean WilsonChairperson
Ann LangstonDirector
Elliot PerryDirector
Erin JohnsonDirector
Martin HandDirector
Staley CatesDirector
Tom GrimesDirector
Milton LovellSecretary
Dallas GreerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$240,000
Program Service Revenue
$1,044,723
Investment Income
$-17,085
Other Revenue
$231,267
All Other Contributions
$240,000
Change in Net Assets
$-40,629

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$843,842
Salaries, Compensation, and Employee Benefits$695,692
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$306,639$306,639-$613,278
Fees for Services Accounting-$252,916-$252,916
Interest-$177,625-$177,625
Insurance$115,843$18,701-$134,544
Occupancy$74,869$1,432-$76,301
Depreciation Depletion$74,407--$74,407
Payments to Affiliates$50,000--$50,000
Other Employee Benefits$21,424$21,423-$42,847
All Other Expenses$0$41,169$0$41,169
Payroll Taxes$16,109$16,108-$32,217
Fees for Services Legal$9,575--$9,575
Office Expenses-$8,175-$8,175
Fees for Services Other$0$7,882$0$7,882
Pension Plan Contributions$3,675$3,675-$7,350
Travel-$4,401-$4,401
Other Expenses-$412-$412
Information Technology-$32-$32
Total Functional Expenses$672,541$866,993$0$1,539,534

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Other Expense Adjustments$0
Total Expenses per Form 990$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$514,092
Due to Cbo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 18

“Crca makes its documents available for public inspection upon request.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“A copy of the form 990 is provided to the full board. The form 990 is reviewed by the president and secretary, as well as two additional board members, prior to filing.”

Form 990, Part VI, Line 15A Process to establish compensation of top management official

“The deliberations regarding the president's compensation is documented. The compensation is then approved by the board members and compensation committee. Contemporaneous documentation and records are kept relating to the deliberations.”

Form 990, Part VI, Line 19 Required documents available to the public

“Crca makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Crosstown Redevelopment Cooperative Association Inc
EIN
47-2073263
Phone
9015071179
Address
20 Huling Avenue, Memphis, TN 38103

Signing Officer

Name
Todd
Title
Richardson
Phone
9015071179
Signed
2025-09-11
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
9
Employees
3
Volunteers
0

Preparer

Firm
Forvis Mazars LLP
Address
500 Ridgefield Court, Asheville, NC 28806
Preparer
Amy Bibby
Phone
8282542254
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“This process has not changed from the prior year.”

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“Crca is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Management does not believe that there are any uncertain income tax positions that require recognition as of december 31, 2024 and 2023.”

Raw XML AppendixShowing 400 of 644 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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IRS990/Desc0Managed all operation and programming for Crosstown Concourse. Assisted in the revitalization and economic development of the Crosstown neighborhood. Partnered with neighborhood stakeholders to create the new Cleveland Street Corridor TIF district. Oversee operations and management of City Impact properties. Finalized construction documents and lease for a new live music performance venue.
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IRS990/MissionDesc0TO ASSIST IN THE REVITALIZATION AND ECONOMIC DEVELOPMENT OF THE CROSSTOWN NEIGHBORHOOD IN MEMPHIS, TENNESSEE, BY ASSISTING IN AND FACILITATING THE MANAGEMENT, PRESERVATION AND REDEVELOPMENT OF THE CROSSTOWN PROJECT, NOW KNOWN AS CROSSTOWN CONCOURSE. THE FOREGOING SHALL INCLUDE, WITHOUT LIMITATION, ACTING AS A MANAGER AND/OR MEMBER OF BUILDING OWNER.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08175
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IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt016108
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IRS990ScheduleA/TotalSupportAmt0857234
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01734371
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0514092
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05983327
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Closely-held equity interests
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Financial derivatives
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CRCA IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT DOES NOT BELIEVE THAT THERE ARE ANY UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE RECOGNITION AS OF DECEMBER 31, 2024 AND 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
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