Civic Intelligence

Memphis Challenge Inc.

990 • Fiscal year 2017 • EIN 62-1400107

Jan 01, 2017 to Dec 31, 2017 • Filed on May 23, 2018

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

56th percentile

0.00x

Higher debt load relative to assets than 56% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

Higher debt load relative to revenue than 56% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

44th percentile

0.8%

Higher net margin than 44% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

98th percentile

$94,343

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 33.4% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

47th percentile

0.4%

Faster asset growth than 47% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

31st percentile

-12%

Faster revenue growth than 31% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$173,551

Up $683 (+0.4%) from 2016

Net Assets

Up

$173,527

Up $2,260 (+1.3%) from 2016

Liabilities

Down

$24

Down $1,577 (-99%) from 2016

Revenue

Down

$282,152

Down $39,788 (-12%) from 2016

Expenses

Down

$279,892

Down $18,302 (-6.1%) from 2016

Net Income

Down

$2,260

Down $21,486 (-90%) from 2016

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

2017

Assets$173,551
Liabilities$24
Net Assets$173,527

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

2017

Revenue$282,152
Expenses$279,892
Net Income$2,260
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 23, 2018
Return Version
2017v2.2
Gross Receipts
$282,152
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$171,267$173,527▲ $2,260
Cash and Non-Interest-Bearing Accounts$169,053$171,374▲ $2,321
Land, Buildings, and Equipment, Net$2,097$577▼ $1,520
Accounts Receivable$118--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$172,868$173,551▲ $683
Other Assets Total$1,600$1,600→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,601$24▼ $1,577
Total Liabilities$1,601$24▼ $1,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$171,267$173,527▲ $2,260
Total Liabilities and Net Assets / Fund Balance$172,868$173,551▲ $683

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$12,477$12,477
Equipment$577$7,643$8,220
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cassandra WebsterExecutive DirectorPT$94,343$94,343

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$273,429
Program Service Revenue
$8,723
Investment Income
$0
Other Revenue
$0
All Other Contributions
$273,429
Change in Net Assets
$2,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$184,383
Other Expenses$95,509
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$66,040$28,303-$94,343
Other Salaries and Wages$47,028$20,155-$67,183
Occupancy$11,448$4,906-$16,354
Other Employee Benefits$8,405$3,603-$12,008
All Other Expenses$7,993$3,424-$11,417
Payroll Taxes$7,594$3,255-$10,849
Fees for Services Management$7,168$3,072-$10,240
Office Expenses$4,761$2,040-$6,801
Advertising$3,907$1,675-$5,582
Other Expenses$3,582$1,535-$5,117
Conferences and Meetings$3,013$1,292-$4,305
Travel$2,577$1,104-$3,681
Insurance$2,400$1,028-$3,428
Depreciation Depletion$1,064$456-$1,520
Fees for Services Accounting$1,050$450-$1,500
Fees for Services Other$991$425-$1,416
Total Functional Expenses$195,924$83,968$0$279,892
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
Backup withholding compliance
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 11B

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
2018-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cassandra Webster
Formed
1989
Legal Domicile
Tn
Voting Board Members
18
Independent Board Members
18
Employees
2
Volunteers
10

Preparer

Firm
Cbiz Mhm LLC
Address
5100 POPLAR AVENUE THIRTIETH FLOOR, MEMPHIS, TN 38137
Preparer
Kathy Pennella
Phone
9016855575
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IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE GOAL OF MEMPHIS CHALLENGE IS TO ENSURE THE REGION'S MOST TALENTED MINORITY STUDENTS BRING THEIR EDUCATION, EXPERTISE, AND CONNECTIONS BACK TO MEMPHIS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0171267
IRS990/NetAssetsOrFundBalancesEOYAmt0173527
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt04906
IRS990/OccupancyGrp/ProgramServicesAmt011448
IRS990/OccupancyGrp/TotalAmt016354
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02040
IRS990/OfficeExpensesGrp/ProgramServicesAmt04761
IRS990/OfficeExpensesGrp/TotalAmt06801
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01600
IRS990/OtherAssetsTotalGrp/EOYAmt01600
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03603
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt08405
IRS990/OtherEmployeeBenefitsGrp/TotalAmt012008
IRS990/OtherExpensesGrp/Desc09/10 PROGRAM
IRS990/OtherExpensesGrp/Desc1TRAINING EXPENSE
IRS990/OtherExpensesGrp/Desc2PRINTING, PUBLICATIONS,
IRS990/OtherExpensesGrp/Desc3OTHER PROGRAM EXPENDITU
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03019
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12359
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21867
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31535
IRS990/OtherExpensesGrp/ProgramServicesAmt07043
IRS990/OtherExpensesGrp/ProgramServicesAmt15503
IRS990/OtherExpensesGrp/ProgramServicesAmt24357
IRS990/OtherExpensesGrp/ProgramServicesAmt33582
IRS990/OtherExpensesGrp/TotalAmt010062
IRS990/OtherExpensesGrp/TotalAmt17862
IRS990/OtherExpensesGrp/TotalAmt26224
IRS990/OtherExpensesGrp/TotalAmt35117
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt020155
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt047028
IRS990/OtherSalariesAndWagesGrp/TotalAmt067183
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03255
IRS990/PayrollTaxesGrp/ProgramServicesAmt07594
IRS990/PayrollTaxesGrp/TotalAmt010849
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0CASSANDRA WEBSTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENU
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt08723
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt08723
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 2017, THERE WERE TWO MODULES WHERE WE ACHIEVED 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 (45 PERSONS BENEFITED).
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt038971
IRS990/ProgSrvcAccomActy3Grp/Desc0SOLE (SUMMER ONLINE LEARNING EXPERIENCE) 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 (155 PERSONS BENEFITED).
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01778
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03530
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0314033
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01250
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0117971
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt07907
IRS990/PYRevenuesLessExpensesAmt023746
IRS990/PYSalariesCompEmpBnftPaidAmt0178973
IRS990/PYTotalExpensesAmt0298194
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0321940
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02260
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05193
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/CurrentTaxYearAmt0273429
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0314033
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0295257
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0165100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0292086
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01339905
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt049321
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01398
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt03858
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0925
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0594
IRS990ScheduleA/OtherIncome170Grp/TotalAmt06775
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.20400
IRS990ScheduleA/PublicSupportPY170Pct00.28500
IRS990ScheduleA/PublicSupportTotal170Amt0274707
IRS990ScheduleA/SubstantialContributorsTotAmt01065198
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0273429
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0314033
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0295257
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0165100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0292086
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01339905
IRS990ScheduleA/TotalSupportAmt01346680
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0577
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07643
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08220
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012477
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012477
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0577
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 11B
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

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