Liabilities / Assets
5th percentile
Higher debt load relative to assets than 5% of similar nonprofits.
Memorial Foundation Inc.
990 • Fiscal year 2019 • EIN 62-1202302
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
12th percentile
Higher debt load relative to revenue than 12% of similar nonprofits.
Net Margin
3rd percentile
Higher net margin than 3% of similar nonprofits.
Top Officer Pay
32nd percentile
Higher top officer pay than 32% of similar nonprofits.
Top officer pay equals 7.0% of source-year revenue.
Asset Growth
57th percentile
Faster asset growth than 57% of similar nonprofits.
Revenue Growth
8th percentile
Faster revenue growth than 8% of similar nonprofits.
Balance Sheet
Assets
Up$137,679,502
Up $8,129,529 (+6.3%) from 2018
Net Assets
Up$137,299,605
Up $8,426,723 (+6.5%) from 2018
Liabilities
Down$379,897
Down $297,194 (-44%) from 2018
Revenue And Expenses
Revenue
Down$4,807,992
Down $2,090,893 (-30%) from 2018
Expenses
Down$7,795,258
Down $535,227 (-6.4%) from 2018
Net Income
Down-$2,987,266
Down $1,555,666 (-109%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2019 to Dec 31, 2019
- Signed
- Sep 3, 2020
- Return Version
- 2019v5.1
- Gross Receipts
- $12,327,815
Mission and Program Overview
Mission
The memorial foundation mission is to improve the quality of life for people through support to nonprofit organizations. The foundation responds to diverse community needs, assisting agencies that focus on: health, human and social services, education, senior citizens, youth and children, community services, and substance abuse programs.
Improve the quality of life for people through support of nonprofit organizations.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $73,584,972 | $79,830,322 | ▲ $6,245,350 |
| Investments Other Securities | $37,793,851 | $38,749,847 | ▲ $955,996 |
| Land, Buildings, and Equipment, Net | $8,648,802 | $8,544,259 | ▼ $104,543 |
| Savings and Temporary Cash Investments | $5,392,648 | $7,508,904 | ▲ $2,116,256 |
| Cash and Non-Interest-Bearing Accounts | $3,830,626 | $2,755,235 | ▼ $1,075,391 |
| Prepaid Expenses and Deferred Charges | $205,645 | $192,594 | ▼ $13,051 |
| Accounts Receivable | $93,429 | $98,341 | ▲ $4,912 |
| Total Assets | $129,549,973 | $137,679,502 | ▲ $8,129,529 |
| Liabilities | |||
| Other Liabilities | $195,563 | $194,652 | ▼ $911 |
| Grants Payable | $413,000 | $180,000 | ▼ $233,000 |
| Accounts Payable and Accrued Expenses | $68,528 | $5,245 | ▼ $63,283 |
| Total Liabilities | $677,091 | $379,897 | ▼ $297,194 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $126,906,821 | $135,012,530 | ▲ $8,105,709 |
| Net Assets With Donor Restrictions | $1,966,061 | $2,287,075 | ▲ $321,014 |
| Total Net Assets Fund Balance | $128,872,882 | $137,299,605 | ▲ $8,426,723 |
| Total Liabilities and Net Assets / Fund Balance | $129,549,973 | $137,679,502 | ▲ $8,129,529 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $7,784,007 | $6,047,812 | $13,831,819 |
| Land | $734,758 | - | $734,758 |
| Equipment | $25,494 | $140,817 | $166,311 |
| Other Securities | $35,111,679 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Scott Perry | President | FT | $277,262 | $58,023 | $335,285 |
| Jackson Routh | Vice President, Programs and Grants | FT | $144,200 | $35,882 | $180,082 |
| Judy Milliken | Vice President, Finance | FT | $97,309 | $37,439 | $134,748 |
Board Members and Trustees
| Name | Title |
|---|---|
| Frank Grace Jr | Director - Chair |
| Frank M Bumstead | Director - Vice Chair |
| Alfonzo Alexander | Director |
| Allison Demarcus | Director |
| Barbara Springer | Director |
| Beth Little | Director |
| Charles W Fentress | Director |
| David E Mckee Md | Director |
| Drew R Maddux Sr | Director |
| Fleming Wilt | Director |
| Frank Gordon | Director |
| H Eddie Phillips | Director |
| J Edward Pearson | Director |
| Jo Sanders | Director |
| Michele Williams Md | Director |
| Varina F Buntin | Director |
| Virginia Pupo-walker | Director |
| William P Puryear | Director - Emeritus |
| George C Paine Ii | Director - Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Dyer Construction | Construction | 1045 C AVONDALE RD, Hendersonville, TN 37075 | $249,000 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $3,916
- Program Service Revenue
- $0
- Investment Income
- $4,341,125
- Other Revenue
- $462,951
- All Other Contributions
- $3,916
- Change in Net Assets
- $-2,987,266
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $5,842,751 |
| Other Expenses | $1,141,405 |
| Salaries, Compensation, and Employee Benefits | $811,102 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $5,842,751 | - | - | $5,842,751 |
| Fees for Service Investment Mgmnt Fees | $953,886 | - | - | $953,886 |
| Current Officers, Directors, Trustees, and Key Employees | $603,113 | $47,003 | - | $650,116 |
| Other Salaries and Wages | $101,112 | $789 | - | $101,901 |
| Fees for Services Other | $57,964 | $6,440 | - | $64,404 |
| Payroll Taxes | $34,473 | $1,973 | - | $36,446 |
| Conferences and Meetings | $27,307 | $3,034 | - | $30,341 |
| Fees for Services Accounting | - | $25,300 | - | $25,300 |
| Insurance | $19,418 | $2,158 | - | $21,576 |
| Information Technology | $14,680 | $1,631 | - | $16,311 |
| Other Employee Benefits | $10,782 | $4,145 | - | $14,927 |
| Depreciation Depletion | $8,600 | $956 | - | $9,556 |
| Office Expenses | $8,300 | $922 | - | $9,222 |
| Pension Plan Contributions | $7,609 | $103 | - | $7,712 |
| Fees for Services Legal | $1,983 | $220 | - | $2,203 |
| Other Expenses | $287 | $32 | - | $319 |
| Total Functional Expenses | $7,699,723 | $95,535 | $0 | $7,795,258 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Fiftyforward Madison Station | Madison, TN | 501(c)(3) | To Further Exempt Purposes | $200,000 |
| Habitat for Humanity of Greater Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $150,000 |
| Fellowship of Christian Athletes | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $115,000 |
| Operation Stand Down Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $100,000 |
| Stars Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $95,000 |
| Agape | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $90,000 |
| Sexual Assault Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $85,000 |
| Ywca Nashville and Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $85,000 |
| Project Return | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $80,000 |
| Siloam Health | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $80,000 |
| The Next Door | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $80,000 |
| Mcneilly Center for Children | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $75,000 |
| Teach for America Nashville-chattanooga | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $75,000 |
| Ymca of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $75,000 |
| Interfaith Dental Clinic of Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $70,000 |
| Center for Nonprofit Management | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $65,000 |
| Junior Achievement of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $60,000 |
| MARTHA O'BRYAN CENTER | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $60,000 |
| Nashville Public Television | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $60,000 |
| KING'S DAUGHTERS CHILD DEVELOPMENT CENTER | Madison, TN | 501(c)(3) | To Further Exempt Purposes | $55,000 |
| Boys & Girls Clubs of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Children Are People | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Faith Family Medical Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| GILDA'S CLUB MIDDLE TENNESSEE | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Gordon Jewish Community Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Nashville Rescue Mission | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Oasis Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Second Harvest Food Bank of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Tennessee Prison Outreach Ministry | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| The Store | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Thisbe and Noah Scott Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Volunteer State College Foundation | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $50,000 |
| Nashville Food Project | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $45,000 |
| Room in the Inn | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $45,000 |
| Safe Haven Family Shelter | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $45,000 |
| THE VICTOR S JOHNSON III NASHVILLE CHILDREN'S ALLIANCE | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $45,000 |
| Welcome Home Ministries | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $45,000 |
| Big Brothers Big Sisters of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $42,500 |
| American Red Cross-nashville Area Chapter | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Communities in Schools of Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Community Child Care Services | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| FAMILY & CHILDREN'S SERVICE | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Fannie Battle Day Home for Children | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Grace Place Ministry | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Hope Clinic for Women | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Mending Hearts | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Nashville Symphony | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Salvus Center | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $40,000 |
| Hands on Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $37,500 |
| Youth Villages | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $37,500 |
| Boy Scouts of America Middle Tennessee Council | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| Building Lives Foundation | Franklin, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| Gallatin Shalom Zone | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| Girl Scouts of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| Make-a-wish Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| Nashville International Center for Empowerment | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| National Museum of African American Music | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| New Beginnings Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $35,000 |
| 100 Black Men of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Backfield in Motion | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Begin Anew | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Best Buddies Tennessee | Brentwood, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Bethlehem Centers of Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Byrum-porter Senior Center | Orlinda, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Casa Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Community Care Fellowship | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Crossbridge | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Fannie Battle Day Home for Children | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Frist Art Museum | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Gallatin Miracle Park | Gallatin, TN | GOV'T ENTITY | To Further Exempt Purposes | $30,000 |
| Homesafe of Sumner Wilson & Robertson Counties | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Hospital Hospitality House of Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Jason Foundation | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Mary Parrish Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Pencil Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Prevent Child Abuse Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| ST LUKE'S COMMUNITY HOUSE | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Senior Ride Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| The Family Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Thistle Farms | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Westminster Home Connection | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| Youth Encouragement Services | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $30,000 |
| End Slavery Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $27,500 |
| Salama Urban Ministries | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $27,500 |
| ASHLEY'S PLACE | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $26,000 |
| Bridge Ministry | Goodlettsville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Bridges for the Deaf and Hard of Hearing | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Easter Seals Tennessee | Brentwood, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Nashville Conflict Resolution Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Nashville State Community College Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Our Kids | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Project Transformation Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Tennessee Justice Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Wayne Reed Christian Childcare Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $25,000 |
| Needlink Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $22,500 |
| Songs for Sound | Brentwood, TN | 501(c)(3) | To Further Exempt Purposes | $22,500 |
| Ace Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Country Music Hall of Fame and Museum | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Dismas | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| ELIJAH'S HEART | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Global Education Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Global Education Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Imagination Library of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Mental Health America of the Midsouth | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Miracle League of Music City | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Music for Seniors | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Nasba Center for the Public Trust | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Nashville Opera | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Nashville Teacher Residency | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Oasis Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Park Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Rocketown of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Tennessee Kidney Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Tennessee Medical Foundation | Brentwood, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Tennessee Performing Arts Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $20,000 |
| Insight Counseling Centers | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $17,500 |
| Progress | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $17,500 |
| Gallatin Day Care Center | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $16,702 |
| Cottage Cove Urban Ministries | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $16,000 |
| Safe Haven Family Shelter | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $16,000 |
| A Step Ahead Foundation of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| American Cancer Society-greater Nashville Area | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Christian Community Services | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Christian Cooperative Ministry | Madison, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Conservancy for the Parthenon and Centennial Park | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Corner to Corner | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Council on Aging of Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Crossroads Campus | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Cumberland Heights Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Fiftyforward Bordeaux | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Givingmatterscom (community Foundation) | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Greater Faith Community Action Corporation | Springfield, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Harvest Hands Community Development Corporation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Home Bound Meals Program | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Land Trust for Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Nashville Public Education Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Nashville Technology Council Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Nashville Youth for Christ | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Operation Andrew Group | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Raphah Institute | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Saint Thomas Health Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Simon Youth Foundation | Indianapolis, IN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Songwritingwithsoldiers | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Tennessee Foreign Language Institute Fund | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| University School of Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Uprise Nashville | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $15,000 |
| Able Youth | Franklin, TN | 501(c)(3) | To Further Exempt Purposes | $12,000 |
| Historic Rock Castle | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $12,000 |
| Homework Hotline | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $12,000 |
| Nashville Public Education Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $12,000 |
| Nations Ministry Center | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $12,000 |
| Alive Hospice | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Arthritis Foundation-tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Big Payback Middle Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| City of Hendersonville | Hendersonville, TN | GOV'T ENTITY | To Further Exempt Purposes | $10,000 |
| Donelson Christian Academy | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Epic Girl | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Gallatin Cares | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Literacy Council of Middle Tennessee | Hendersonville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Nashville Diaper Connection | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Nashville Dolphins | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Nashville Drug Court Support Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Pencil Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Project Connect | Madison, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Rock the Street Wall Street | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Tennessee Environmental Council | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Tennessee Justice for Our Neighbors | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Tennessee Senior Olympics | Mt Juliet, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Tennessee Voices for Children | Goodlettsville, TN | 501(c)(3) | To Further Exempt Purposes | $10,000 |
| Achilles International - Nashville Chapter | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $8,000 |
| American Heart Association-greater Southeast Affiliate | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,600 |
| Akiva School | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| East Nashville Hope Exchange | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| Friends of the Gallatin Public Library | Gallatin, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| Heimerdinger Foundation | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| Humanities Tennessee | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| Nashville Repertory Theatre | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| Refuge Center for Counseling | Franklin, TN | 501(c)(3) | To Further Exempt Purposes | $7,500 |
| MONROE CARELL JR CHILDREN'S HOSPITAL AT VANDERBILT | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,449 |
| Skyline Auxiliary | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $7,000 |
| Assistance League of Nashville | Brentwood, TN | 501(c)(3) | To Further Exempt Purposes | $6,000 |
| Saddle Up | Franklin, TN | 501(c)(3) | To Further Exempt Purposes | $6,000 |
| Young Life Capernaum | Nashville, TN | 501(c)(3) | To Further Exempt Purposes | $6,000 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Accrued Investment Fees | $136,682 |
| Security Deposit Payable | $57,970 |
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
- Yes
- 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, Section B, Line 11B
“The 990 is reviewed by the executive committee of the board of directors prior to its filing and the filed form 990 is made available to each member for review. If board members have questions, they are brought to the attention of the executive committee at the next scheduled board meeting.”
Form 990, Part VI, Section B, Line 12C
“The conflict of interest policy is reviewed annually and a conflict of interest form is signed at each committee meeting if it applies to any grants that are being considered.”
Form 990, Part VI, Section B, Line 15
“The executive committee reviews the president's performance and then the president will receive the same percent of compensation increase as the organization's employees. The compensation of other officers or key employees of the organization is determined after a performance review by the president.”
Form 990, Part VI, Section C, Line 19
“The confict of interest, governing documents, and financial statements are made available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- The Memorial Foundation
- EIN
- 62-1202302
- Phone
- 6158229499
- Address
- 100 BLUEGRASS COMMONS BLVD NO 32, HENDERSONVILLE, TN 37075
Signing Officer
- Name
- Scott Perry
- Title
- President
- Phone
- 6158229499
- Signed
- 2020-09-03
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Scott Perry
- Formed
- 1994
- Legal Domicile
- Tn
- Voting Board Members
- 19
- Independent Board Members
- 19
- Employees
- 5
- Volunteers
- 0
Preparer
- Firm
- Kraftcpas Pllc
- Address
- 555 GREAT CIRCLE ROAD, NASHVILLE, TN 37228
- Preparer
- Frances E Leahy
- Phone
- 6152427351
Supplemental Narrative
Additional Explanations
FORM 990, PART XII, LINE 2C:
“The organization's review process or selection process of audited financial statements did not change from prior year.”
Financial Statement Notes
PART X, LINE 2:
“Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the foundation's income tax returns to determine whether the income tax positions meet a "more likely than not" standard of being sustained under examination by the applicable taxing authorities. Management has performed its evaluation of all income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the "more likely than not" standard. Accordingly, there were no provisions for income taxes, penalties or interest receivable or payable relating to uncertain income tax positions.”
Raw XML AppendixShowing 400 of 2,245 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/InformationTechnologyGrp/ProgramServicesAmt | 0 | 14680 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 16311 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 2158 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 19418 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 21576 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 3047297 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 3047297 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
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| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 38749847 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 73584972 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 79830322 |
| IRS990/IRPDocumentCnt | 0 | 24 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 6188629 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 8648802 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 8544259 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 14732888 |
| IRS990/LegalDomicileStateCd | 0 | TN |
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| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 1170651 |
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| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | THE MEMORIAL FOUNDATION MISSION IS TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE THROUGH SUPPORT TO NONPROFIT ORGANIZATIONS. THE FOUNDATION RESPONDS TO DIVERSE COMMUNITY NEEDS, ASSISTING AGENCIES THAT FOCUS ON: HEALTH, HUMAN AND SOCIAL SERVICES, EDUCATION, SENIOR CITIZENS, YOUTH AND CHILDREN, COMMUNITY SERVICES, AND SUBSTANCE ABUSE PROGRAMS. |
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| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 137299605 |
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| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 135012530 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
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| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 8300 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 9222 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 4145 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 10782 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 14927 |
| IRS990/OtherExpensesGrp/Desc | 0 | OTHER EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 1 | PROPERTY TAXES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 829 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 32 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 7458 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 287 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 8287 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 319 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 195563 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 194652 |
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| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 101901 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 1973 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 34473 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 36446 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 103 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 7609 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 7712 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
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| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 192594 |
| IRS990/PrincipalOfficerNm | 0 | SCOTT PERRY |
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| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 77 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
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| IRS990/PYRevenuesLessExpensesAmt | 0 | -1431600 |
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| IRS990/PYTotalExpensesAmt | 0 | 8330485 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 6898885 |
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| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -2987266 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
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| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 5392648 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 7508904 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | THE MEMORIAL FOUNDATION (THE "FOUNDATION") IS A PUBLICLY SUPPORTED ORGANIZATION WITHIN THE MEANING OF I.R.C. 170(B)(1)(A)(VI). WHILE THE FOUNDATION DID NOT REACH THE 33% PERCENT PUBLIC SUPPORT TEST UNDER TREASURY REGULATIONS 1.170A-9(E)(2) FOR 2019, IT DID SATISFY THE FACTS AND CIRCUMSTANCES TEST UNDER TREASURY REGULATIONS 1.170A-9(E)(3). FOR YEARS 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, AND 2019 THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE WAS, 29.0282%, 21.0607%, 16.7969%, 16.7168%, 19.1934%, 15.7396%, 18.8531%, 22.1730%, 23.0085%, 23.6910%, 25.0989%, 24.3902%, 22.6562%, 22.3416%, 20.5434%, 17.1182% AND 13.0692% RESPECTIVELY. ALTHOUGH EACH YEAR IT IS BELOW 33% PERCENT, THEY STILL EXCEED THE MINIMUM 10 PERCENT OF PUBLIC SUPPORT REQUIRED UNDER THE FACTS AND CIRCUMSTANCES TEST. DESPITE THE LOWER PUBLIC SUPPORT PERCENTAGE, IT IS EXPECTED THAT THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE WILL EQUAL OR EXCEED 10 PERCENT AS A RESULT OF ADDITIONAL CONTRIBUTIONS. FOR ALL YEARS PRIOR TO 2001, THE FOUNDATION EASILY MET THE 33% PERCENT PUBLIC SUPPORT TEST. THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE HAS DECREASED EACH YEAR BECAUSE A HIGH PERCENTAGE OF ITS SUPPORT CAME FROM INVESTMENT INCOME ON ENDOWMENT FUNDS. THESE ENDOWMENT FUNDS WERE CONTRIBUTED BY NASHVILLE MEMORIAL HOSPITAL, INC., A TENNESSEE NON-PROFIT HOSPITAL THAT IS TAX-EXEMPT UNDER I.R.C. 501(C)(3) ("THE HOSPITAL"). THE HOSPITAL CONTRIBUTED THE FUNDS TO THE FOUNDATION, WITH THE APPROVAL OF THE ATTORNEY GENERAL OF THE STATE OF TENNESSEE, IN CONNECTION WITH ITS DISSOLUTION. THE FOUNDATION WAS NOT FUNDED BY A SMALL GROUP OF INDIVIDUALS, AND, IN FACT, NO DISQUALIFIED PERSONS HAVE CONTRIBUTED TO THE FOUNDATION. THE FOUNDATION CONTINUED TO RECEIVE CONTRIBUTIONS FROM THE HOSPITAL, UNTIL THE HOSPITAL HAD DISTRIBUTED ALL ASSETS IN 2018. THE HOSPITAL FILED ITS FINAL TAX RETURN WAS FILED FOR 2018, AND WAS FORMALLY DISSOLVED IN 2019. SINCE FORMATION, THE FOUNDATION HAS BEEN GOVERNED BY A LARGE BLUE-RIBBON BOARD OF TRUSTEES (THE "BOARD"). THE BOARD CURRENTLY CONSISTS OF NINETEEN PROMINENT COMMUNITY AND CIVIC LEADERS THAT REPRESENT A BROAD CROSS-SECTION OF THE VIEWS AND INTERESTS OF THE PUBLIC. THESE INDIVIDUAL HAVE DEMONSTRATED EXPERIENCE IN CIVIC AND CHARITABLE CAUSES AND HAVE KNOWLEDGE OF BUSINESS AFFAIRS THAT ARE REQUIRED TO EFFECTUATE THE CHARITABLE PURPOSES OF THE FOUNDATION. THE BOARD MEMBERS ARE NOT COMPENSATED FOR THEIR SERVICES. DURING 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, AND 2019, AT THE DIRECTION AND UNDER THE SUPERVISION OF THE BOARD, THE FOUNDATION PROVIDED $3,779,790, $6,635,647, $7,443,418, $7,933,005, $11,255,052, 5,688,457, $6,542,944, $8,125,024, $6,632,511, $6,772,953, $6,363,074, $6,384,618, $7,851,732, $5,664,650, $6,304,688, $6,252,300,AND $5,842,751 RESPECTIVELY, IN GRANTS AND CHARITABLE CONTRIBUTIONS TO APPROXIMATELY 200 CHARITABLE ORGANIZATIONS LOCATED THROUGHOUT MIDDLE TENNESSEE EACH YEAR. MANY OF THESE ORGANIZATIONS RELY HEAVILY ON THE FOUNDATION FOR FUNDING. BECAUSE THE FOUNDATION DISPERSES FUNDS TO NUMEROUS COMMUNITY ORGANIZATIONS WITH A WIDE-VARIETY OF CHARITABLE PURPOSES, IT ATTRACTS ATTENTION FROM THE GENERAL PUBLIC, INCREASING NOT ONLY THE PUBLIC'S AWARENESS OF THE FOUNDATION, BUT ALSO OF THESE RECIPIENT ORGANIZATIONS. THIS AWARENESS AND GOODWILL IN THE COMMUNITY WILL BENEFIT THE FOUNDATION IF IT ESTABLISHES ADDITIONAL FUND-RAISING ACTIVITIES IN THE FUTURE. BASED ON ALL THE FACTS AND CIRCUMSTANCES DESCRIBED ABOVE, THE FOUNDATION SHOULD CONTINUE TO QUALIFY AS A PUBLICLY SUPPORTED ORGANIZATION UNDER TREASURY REGULATIONS 1.170A-9(E)(3). |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | SCHEDULE A, PART II, SECTION C, 17A |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 3916 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 77 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 840536 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1200000 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1121389 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 3165918 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 4680899 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 3999183 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 3850246 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $137,679,502
- Liabilities
- $379,897
- Net assets
- $137,299,605
- Revenue
- $4,807,992
- Expenses
- $7,795,258
- Net income
- -$2,987,266