Civic Intelligence

Memphis Challenge Inc.

990 • Fiscal year 2015 • EIN 62-1400107

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 10, 2016

17 West Pontotoc Avenue No 100Memphis, TN 38103

(901) 685-5455

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.01x

Higher debt load relative to assets than 62% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

59th percentile

0.00x

Higher debt load relative to revenue than 59% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

69th percentile

14%

Higher net margin than 69% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

97th percentile

$84,235

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 27.6% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

81st percentile

39%

Faster asset growth than 81% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

89th percentile

68%

Faster revenue growth than 89% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$148,915

Up $41,646 (+39%) from 2014

Net Assets

Up

$147,521

Up $41,706 (+39%) from 2014

Liabilities

Down

$1,394

Down $60 (-4.1%) from 2014

Revenue

Up

$305,015

Up $123,267 (+68%) from 2014

Expenses

Down

$263,311

Down $2,624 (-1.0%) from 2014

Net Income

Up

$41,704

Up $125,891 (+150%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100KAssets 2014: $107,269Liabilities 2014: $1,454Net Assets 2014: $105,8152014Assets 2015: $148,915Liabilities 2015: $1,394Net Assets 2015: $147,5212015Assets 2016: $172,868Liabilities 2016: $1,601Net Assets 2016: $171,2672016Assets 2017: $173,551Liabilities 2017: $24Net Assets 2017: $173,5272017Assets 2018: $162,127Liabilities 2018: $55Net Assets 2018: $162,0722018Assets 2019: $103,631Liabilities 2019: -$450Net Assets 2019: $104,0812019Assets 2020: $88,171Liabilities 2020: $39,744Net Assets 2020: $48,4272020Assets 2021: $204,689Liabilities 2021: -$721Net Assets 2021: $205,4102021Assets 2022: $175,598Liabilities 2022: $1,000Net Assets 2022: $174,5982022Assets 2023: $143,052Liabilities 2023: $0Net Assets 2023: $143,0522023Assets 2024: $172,482Liabilities 2024: $0Net Assets 2024: $172,4822024

Highlighted filing

2015

Assets$148,915
Liabilities$1,394
Net Assets$147,521

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2014: $181,748Expenses 2014: $265,935Net Income 2014: -$84,1872014Revenue 2015: $305,015Expenses 2015: $263,311Net Income 2015: $41,7042015Revenue 2016: $321,940Expenses 2016: $298,194Net Income 2016: $23,7462016Revenue 2017: $282,152Expenses 2017: $279,892Net Income 2017: $2,2602017Revenue 2018: $310,544Expenses 2018: $321,999Net Income 2018: -$11,4552018Revenue 2019: $250,145Expenses 2019: $308,136Net Income 2019: -$57,9912019Revenue 2020: $211,190Expenses 2020: $266,842Net Income 2020: -$55,6522020Revenue 2021: $382,346Expenses 2021: $225,363Net Income 2021: $156,9832021Revenue 2022: $312,432Expenses 2022: $343,244Net Income 2022: -$30,8122022Revenue 2023: $309,907Expenses 2023: $341,453Net Income 2023: -$31,5462023Revenue 2024: $357,898Expenses 2024: $328,468Net Income 2024: $29,4302024

Highlighted filing

2015

Revenue$305,015
Expenses$263,311
Net Income$41,704
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 10, 2016
Return Version
2015v2.1
Gross Receipts
$305,015
Mission and Program Overview

Mission

The goal of memphis challenge is to ensure the region's most talented minority students bring their education, expertise, and connections back to memphis.

The purpose of memphis challenge is to match gifted, but under-represented memphis high school students of color with top-tier colleges and universities and scholarship offerings offered by prestigious colleges and universities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$105,815$147,521▲ $41,706
Cash and Non-Interest-Bearing Accounts$103,647$143,328▲ $39,681
Land, Buildings, and Equipment, Net$0$3,987▲ $3,987
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$107,269$148,915▲ $41,646
Other Assets Total$3,622$1,600▼ $2,022
Liabilities
Accounts Payable and Accrued Expenses$1,454$1,394▼ $60
Total Liabilities$1,454$1,394▼ $60
Net Assets / Fund Balance
Total Net Assets Fund Balance$105,815$147,521▲ $41,706
Total Liabilities and Net Assets / Fund Balance$107,269$148,915▲ $41,646

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,567$10,910$12,477
Equipment$2,420$5,800$8,220
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cassandra WebsterExecutive DirectorPT$84,235$84,235

Board Members and Trustees

NameTitle
Charlie Pleas IiiChairman
Ruby BrightFund Development Chair
Charles S HigginsDirector
Donna SandersDirector
Dr Otis Anderson IiiDirector
Dr Rychetta WatkinsDirector
Jr HydeDirector
Leanne ScullDirector
Scottie WalkerDirector
T Kevin BruceDirector
Warren RicheyDirector
Wendy Sumner - WinterDirector
Xiangen HuDirector
Yvon FosterDirector
Dr Esmond ArrindellSecretary
Corie RiversTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$295,256
Program Service Revenue
$9,759
Investment Income
$0
Other Revenue
$0
All Other Contributions
$295,256
Change in Net Assets
$41,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$165,364
Other Expenses$96,697
Grants and Similar Amounts Paid$1,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$108,333$46,428-$154,761
Fees for Services Management$16,388$7,023-$23,411
Occupancy$16,119$6,908-$23,027
All Other Expenses$9,931$4,254-$14,185
Payroll Taxes$7,422$3,181-$10,603
Other Expenses$3,763$1,613-$5,376
Depreciation Depletion$1,142$490-$1,632
Grants to Domestic Orgs$1,250--$1,250
Total Functional Expenses$184,695$78,616$0$263,311
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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 11

A copy of the return was distributed for review.

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

UPON REQUEST.

Form 990, Part VI, Section B, Line 15

UPON REQUEST.

Form 990, Part VI, Section C, Line 19

AVAILABLE BY REQUEST.

Filing and Contact Details

Filer

Filer Name
Memphis Challenge Inc
EIN
62-1400107
Phone
9016855455
Address
17 WEST PONTOTOC AVENUE NO 100, MEMPHIS, TN 38103

Signing Officer

Name
Corie Rivers CPA
Title
Treasurer
Phone
9016855455
Signed
2016-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cassandra Webster
Formed
1989
Legal Domicile
Tn
Voting Board Members
16
Independent Board Members
16
Employees
4
Volunteers
10

Preparer

Firm
Elliott Davis Decosimo LLC Pllc
Address
1000 RIDGEWAY LOOP SUITE 402, MEMPHIS, TN 38120
Preparer
Kevin D Mcadams CPA
Phone
9016838899
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0108333
IRS990/OtherSalariesAndWagesGrp/TotalAmt0154761
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03181
IRS990/PayrollTaxesGrp/ProgramServicesAmt07422
IRS990/PayrollTaxesGrp/TotalAmt010603
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0CASSANDRA WEBSTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900009
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENU
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09759
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09759
IRS990/ProgSrvcAccomActy2Grp/Desc0THE 9/10 MOVEMENT PREPARES STUDENTS FOR THE RIGORS OF HIGH SCHOOL AND THE IMPORTANCE OF ACADEMICS AND HOW TO CONNECT THE DOTS OF LIFE, EDUCATION, CAREER AND ASPIRATIONS. IN 2015, THERE WERE TWO MODULES WHERE WE ACHIEVED THE THESE GOALS. THE FIRST ONE WAS THE BOOT CAMP WHERE THE PROGRAM EMPHASIZED PERSONAL RESPONSIBIITY FOR SETTING AND REACHING GOALS. THE PROGRAM EXPOSED STUDENTS TO COACHING FOR CRITICAL THINKING SKILLS AND BUILD GROUP COHESIVENESS BY MEMPHIS CHALLENGE ALUMNI. THE OTHER PROGRAM WAS TO HELP STUDENTS FEEL COMFORTABLE OUTSIDE THEIR OWN ENVIRONMENTS BY EXPOSING THEM TO GOOD LEADERS AND GREAT CITIZENS FROM AROUND THE WORLD (40 PERSONS BENEFITED).
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt043855
IRS990/ProgSrvcAccomActy3Grp/Desc0SOLE (SUMMER ONLINE LEARNING EXPERIENCE) MATH IS A VIRTUAL MATH ACADEMY THAT IS OFFERED FOR STUDENTS IN GRADES 3-12 DURING THE SUMMER TO COMBAT SUMMER SLIDE (LEARNING LOSS). SOLE IS POWERED THRU ALEK SOFTWARE. MEMPHIS CHALLENGE OFFERS WEEKLY PARENT UPDATES AND IS BUILDING A COMMUNITY OF STEM (SCIENCE, TECHNOLOGY, ENGINEERING, MATH) ENTHUSIASTS (350 PERSONS BENEFITED).
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt019210
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt06859
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0165100
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0500
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt078155
IRS990/PYOtherRevenueAmt0594
IRS990/PYProgramServiceRevenueAmt016054
IRS990/PYRevenuesLessExpensesAmt0-84187
IRS990/PYSalariesCompEmpBnftPaidAmt0168367
IRS990/PYTotalExpensesAmt0265935
IRS990/PYTotalProfFndrsngExpnsAmt018913
IRS990/PYTotalRevenueAmt0181748
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt041704
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02900
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MEMPHIS CHALLENGE, INC. IS A PUBLICLY-SUPPORTED CHARITY THAT BENEFITS NUMEROUS SCHOOLS THROUGHOUT SHELBY COUNTY, BY PROVIDING UNDER REPRESENTED STUDENTS OF COLOR WITH AN OPPORTUNITY TO DEVELOP PERSONAL AND PROFESSIONAL SKILLS. THEY ALSO EMPHASIZE HOW LIFE, EDUCATION, CAREERS, AND ASPIRATIONS ARE ALL INTERRELATED. IT IS THEIR GOAL THAT THE KNOWLEGE AND SKILLS THE STUDENTS OBTAIN THROUGH THESE PROGRAMS WILL AID THEM THROUGH COLLEGE AND INTO THEIR ADULT LIVES. USING FUNDING FROM PUBLIC SUPPORT, THE ORGANIZATION IS ABLE TO SUPPORT 10 VOLUNTEERS SERVING SHELBY COUNTY ANNUALLY IN PURSUIT OF THE AFOREMENTIONED CHARITABLE PURPOSE. THE ORGANIZATION CURRENTLY ATTRACTS SUPPORT FROM A BROAD NUMBER OF DONORS. THE MAJORITY OF DONATIONS RECEIVED ARE TYPICALLY SMALLER, RANGING FROM $5 TO $20, AND ARE GIVEN BY APPROXIMATELY 100 COMMUNITY MEMBERS, PARENTS, AND MEMPHIS CHALLENGE ALUMNI. THIS YEAR, THE ORGANIZATION ATTRACTED 3 LARGER DONATIONS FROM ORGANIZATIONS IN THE SURROUNDING COMMUNITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, SECTION C, FACTS AND CIRCUMSTANCES TEST:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0295257
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0165100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0292086
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0291532
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0204453
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01248428
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt027
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt060
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt087
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt040271
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0925
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0594
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01519
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.32590
IRS990ScheduleA/PublicSupportPY509Pct00.22870
IRS990ScheduleA/PublicSupportTotal170Amt0407431
IRS990ScheduleA/SubstantialContributorsTotAmt0840997
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0295257
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0165100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0292086
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0291532
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0204453
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01248428
IRS990ScheduleA/TotalSupportAmt01250034
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt02420
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05800
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08220
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01567
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt010910
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012477
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03987
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE RETURN WAS DISTRIBUTED FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0107269
IRS990/TotalAssetsEOYAmt0148915
IRS990/TotalAssetsGrp/BOYAmt0107269
IRS990/TotalAssetsGrp/EOYAmt0148915
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0295256
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt078616
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0184695
IRS990/TotalFunctionalExpensesGrp/TotalAmt0263311
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01454
IRS990/TotalLiabilitiesEOYAmt01394
IRS990/TotalLiabilitiesGrp/BOYAmt01454
IRS990/TotalLiabilitiesGrp/EOYAmt01394
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0105815
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0147521
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0184695
IRS990/TotalProgramServiceRevenueAmt09759
IRS990/TotalReportableCompFromOrgAmt084235
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09759
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0305015

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