Civic Intelligence

Memphis Challenge Inc.

990 • Fiscal year 2018 • EIN 62-1400107

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 13, 2019

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

57th percentile

0.00x

Higher debt load relative to assets than 57% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

0.00x

Higher debt load relative to revenue than 57% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

32nd percentile

-3.7%

Higher net margin than 32% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

98th percentile

$100,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 32.2% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

34th percentile

-6.6%

Faster asset growth than 34% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

63rd percentile

10%

Faster revenue growth than 63% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$162,127

Down $11,424 (-6.6%) from 2017

Net Assets

Down

$162,072

Down $11,455 (-6.6%) from 2017

Liabilities

Up

$55

Up $31 (+129%) from 2017

Revenue

Up

$310,544

Up $28,392 (+10%) from 2017

Expenses

Up

$321,999

Up $42,107 (+15%) from 2017

Net Income

Down

-$11,455

Down $13,715 (-607%) from 2017

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

2018

Assets$162,127
Liabilities$55
Net Assets$162,072

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

2018

Revenue$310,544
Expenses$321,999
Net Income-$11,455
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 13, 2019
Return Version
2018v3.1
Gross Receipts
$340,157
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$173,527$162,072▼ $11,455
Cash and Non-Interest-Bearing Accounts$171,374$160,527▼ $10,847
Land, Buildings, and Equipment, Net$577$0▼ $577
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$173,551$162,127▼ $11,424
Other Assets Total$1,600$1,600→ $0
Liabilities
Accounts Payable and Accrued Expenses$24$55▲ $31
Total Liabilities$24$55▲ $31
Net Assets / Fund Balance
Total Net Assets Fund Balance$173,527$162,072▼ $11,455
Total Liabilities and Net Assets / Fund Balance$173,551$162,127▼ $11,424

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$12,477$12,477
Equipment$0$4,827$4,827
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cassandra WebsterExecutive DirectorPT$100,000$100,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$327,464
Program Service Revenue
$9,543
Investment Income
$-163
Other Revenue
$-26,300
All Other Contributions
$295,422
Change in Net Assets
$-11,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$203,698
Other Expenses$118,301
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$70,000$30,000-$100,000
Other Salaries and Wages$53,754$23,037-$76,791
Fees for Services Management$15,836$6,787-$22,623
Occupancy$13,440$5,760-$19,200
Other Employee Benefits$9,527$4,083-$13,610
Payroll Taxes$9,308$3,989-$13,297
All Other Expenses$7,920$3,394-$11,314
Advertising$6,284$2,693-$8,977
Office Expenses$5,449$2,335-$7,784
Travel$4,119$1,765-$5,884
Other Expenses$3,778$1,619-$5,397
Insurance$1,954$837-$2,791
Conferences and Meetings$1,367$586-$1,953
Fees for Services Other$1,348$578-$1,926
Fees for Services Accounting$1,330$570-$1,900
Depreciation Depletion$290$124-$414
Total Functional Expenses$225,401$96,598$0$321,999
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$29,450
Fundraising Gross Income$3,150
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Jazzin Around 7$35,192$3,150$21,110$-17,960
Total Events$35,192$3,150$29,450$-26,300
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
2019-06-13
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
Cbiz Mhm LLC
Address
5100 POPLAR AVENUE THIRTIETH FLOOR, MEMPHIS, TN 38137
Preparer
Kathy Pennella
Phone
9016855575
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IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-163
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-163
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-26300
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-26300
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt05760
IRS990/OccupancyGrp/ProgramServicesAmt013440
IRS990/OccupancyGrp/TotalAmt019200
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02335
IRS990/OfficeExpensesGrp/ProgramServicesAmt05449
IRS990/OfficeExpensesGrp/TotalAmt07784
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01600
IRS990/OtherAssetsTotalGrp/EOYAmt01600
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt04083
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt09527
IRS990/OtherEmployeeBenefitsGrp/TotalAmt013610
IRS990/OtherExpensesGrp/Desc09/10 PROGRAM
IRS990/OtherExpensesGrp/Desc1ACT PREP PROGRAM
IRS990/OtherExpensesGrp/Desc2TRAINING EXPENSE
IRS990/OtherExpensesGrp/Desc3PRINTING, PUBLICATIONS,
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03141
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12715
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22585
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31619
IRS990/OtherExpensesGrp/ProgramServicesAmt07329
IRS990/OtherExpensesGrp/ProgramServicesAmt16336
IRS990/OtherExpensesGrp/ProgramServicesAmt26032
IRS990/OtherExpensesGrp/ProgramServicesAmt33778
IRS990/OtherExpensesGrp/TotalAmt010470
IRS990/OtherExpensesGrp/TotalAmt19051
IRS990/OtherExpensesGrp/TotalAmt28617
IRS990/OtherExpensesGrp/TotalAmt35397
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt023037
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt053754
IRS990/OtherSalariesAndWagesGrp/TotalAmt076791
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03989
IRS990/PayrollTaxesGrp/ProgramServicesAmt09308
IRS990/PayrollTaxesGrp/TotalAmt013297
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0CASSANDRA WEBSTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENU
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09543
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09543
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/ExpenseAmt037502
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/ExpenseAmt042
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt04097
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0273429
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt095509
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt08723
IRS990/PYRevenuesLessExpensesAmt02260
IRS990/PYSalariesCompEmpBnftPaidAmt0184383
IRS990/PYTotalExpensesAmt0279892
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0282152
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/ReconcilationRevenueExpnssAmt0-11455
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05446
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/CurrentTaxYearAmt0330614
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0273429
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0314033
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0295257
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0165100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01378433
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt051986
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt06104
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01398
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt03858
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0925
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0594
IRS990ScheduleA/OtherIncome170Grp/TotalAmt012879
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.17050
IRS990ScheduleA/PublicSupportPY170Pct00.20400
IRS990ScheduleA/PublicSupportTotal170Amt0237237
IRS990ScheduleA/SubstantialContributorsTotAmt01141196
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0330614
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0273429
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0314033
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0295257
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0165100
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01378433
IRS990ScheduleA/TotalSupportAmt01391312
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04827
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04827
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012477
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012477
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt032042
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt032042
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt029450
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0JAZZIN AROUND 7
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt035192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt035192
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt03150
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt03150
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-26300
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt021110
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt021110
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt08340
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt08340
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

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