Civic Intelligence

Memphis Incubator Systems Inc

990 • Fiscal year 2016 • EIN 62-1739744

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2017

Organization ProfileWWW.EMERGEMEMPHIS.ORG
516 Tennessee StreetMemphis, TN 38103

(901) 312-7766

Siviq Scores

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

Liabilities / Assets

57th percentile

0.16x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

1.05x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

14th percentile

-22%

Higher net margin than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

73rd percentile

$110,000

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 20.4% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

24th percentile

-4.3%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

56th percentile

5.3%

Faster revenue growth than 56% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$3,631,158

Down $163,655 (-4.3%) from 2015

Net Assets

Down

$3,062,564

Down $116,935 (-3.7%) from 2015

Liabilities

Down

$568,594

Down $46,720 (-7.6%) from 2015

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin14th percentile

Revenue

Up

$539,408

Up $27,010 (+5.3%) from 2015

Expenses

Down

$656,343

Down $18,887 (-2.8%) from 2015

Net Income

Up

-$116,935

Up $45,897 (+28%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,197,525Liabilities 2010: $379,685Net Assets 2010: $2,817,8402010Assets 2011: $4,324,712Liabilities 2011: $672,630Net Assets 2011: $3,652,0822011Assets 2012: $4,271,610Liabilities 2012: $723,265Net Assets 2012: $3,548,3452012Assets 2013: $4,142,885Liabilities 2013: $715,804Net Assets 2013: $3,427,0812013Assets 2014: $3,965,988Liabilities 2014: $623,657Net Assets 2014: $3,342,3312014Assets 2015: $3,794,813Liabilities 2015: $615,314Net Assets 2015: $3,179,4992015Assets 2016: $3,631,158Liabilities 2016: $568,594Net Assets 2016: $3,062,5642016Assets 2017: $3,472,872Liabilities 2017: $556,445Net Assets 2017: $2,916,4272017Assets 2018: $3,342,385Liabilities 2018: $667,772Net Assets 2018: $2,674,6132018Assets 2019: $1,387,775Liabilities 2019: $77,733Net Assets 2019: $1,310,0422019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2016

Assets$3,631,158
Liabilities$568,594
Net Assets$3,062,564
Open 2016 Filing

Operations Trend

Revenue Growth56th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2010: $494,940Expenses 2010: $557,550Net Income 2010: -$62,6102010Revenue 2011: $1,443,767Expenses 2011: $609,525Net Income 2011: $834,2422011Expenses 2012: $717,2802012Revenue 2013: $566,308Expenses 2013: $687,569Net Income 2013: -$121,2612013Revenue 2014: $652,274Expenses 2014: $737,024Net Income 2014: -$84,7502014Revenue 2015: $512,398Expenses 2015: $675,230Net Income 2015: -$162,8322015Revenue 2016: $539,408Expenses 2016: $656,343Net Income 2016: -$116,9352016Revenue 2017: $595,608Expenses 2017: $707,166Net Income 2017: -$111,5582017Revenue 2018: $574,937Expenses 2018: $816,751Net Income 2018: -$241,8142018Revenue 2019: -$825,639Expenses 2019: $538,932Net Income 2019: -$1,364,5712019Revenue 2020: $87,806Expenses 2020: $1,397,848Net Income 2020: -$1,310,0422020

Highlighted filing

2016

Revenue$539,408
Expenses$656,343
Net Income-$116,935
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$539,408
Mission and Program Overview

Mission

To develop, promote, and manage a system of business development incubators.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,742,188$3,581,985▼ $160,203
Cash and Non-Interest-Bearing Accounts$22,431$20,818▼ $1,613
Accounts Receivable$22,056$20,232▼ $1,824
Intangible Assets$4,609$4,340▼ $269
Prepaid Expenses and Deferred Charges$3,529$3,783▲ $254
Total Assets$3,794,813$3,631,158▼ $163,655
Liabilities
Other Liabilities$540,700$501,283▼ $39,417
Accounts Payable and Accrued Expenses$56,086$36,930▼ $19,156
Unsecured Notes Loans Payable$18,528$23,075▲ $4,547
Deferred Revenue-$7,306-
Total Liabilities$615,314$568,594▼ $46,720
Net Assets / Fund Balance
Unrestricted Net Assets$3,179,499$3,062,564▼ $116,935
Total Net Assets Fund Balance$3,179,499$3,062,564▼ $116,935
Total Liabilities and Net Assets / Fund Balance$3,794,813$3,631,158▼ $163,655

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,806,153$1,670,867$3,477,020
Leasehold Improvements$1,460,757$214,778$1,675,535
Land$312,177-$312,177
Other Land Buildings$1,346$72,966$74,312
Equipment$1,552$33,873$35,425
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Carlton CrothersExecutive DiFT$110,000$110,000

Board Members and Trustees

NameTitle
Joe FracchiaChairman
Bryan Eagle IiiDirector
Kevin HumphriesDirector
Lisa WadeDirector
Jay OliphantSecretary
John OgleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,109
Program Service Revenue
$536,299
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,109
Change in Net Assets
$-116,935
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$477,821
Salaries, Compensation, and Employee Benefits$178,522
Total Fundraising Expense$13,900
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$132,241$32,578-$164,819
Current Officers, Directors, Trustees, and Key Employees$77,000$22,000$11,000$110,000
Other Salaries and Wages$43,534$11,163$1,116$55,813
All Other Expenses$42,328$9,688$333$52,349
Interest$19,350$4,837-$24,187
Other Expenses$5,159$15,476$928$20,635
Insurance$11,445$2,861-$14,306
Payroll Taxes$9,913$2,542$254$12,709
Information Technology$8,901$2,225-$11,126
Advertising$4,654$1,178$59$5,891
Travel$1,572$314$210$2,096
Total Functional Expenses$507,088$135,355$13,900$656,343
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liability$501,283
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Memphis Incubator Systems Inc
EIN
62-1739744
Address
516 TENNESSEE STREET, MEMPHIS, TN 38103
Doing Business As
Emerge Memphis

Signing Officer

Name
Carlton Crothers
Title
Executive Director
Signed
2017-05-12

Organization Details

Principal Officer
Carlton Crothers
Formed
1998
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
Patrick Accounting & Tax Services
Address
5570 MURRAY AVE, MEMPHIS, TN 38119-3805
Preparer
Jennifer L Gann Ea
Phone
9017555858
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Services provided to cultivate the growth of several new businesses by providing business development assistance to area entrepreneurs.”

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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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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02883931
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01806153
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01670867
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03477020
IRS990ScheduleD/EquipmentGrp/BookValueAmt01552
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033873
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt035425
IRS990ScheduleD/LandGrp/BookValueAmt0312177
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0312177
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01460757
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0214778
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01675535
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01346
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt072966
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt074312
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0501283
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03581985
IRS990ScheduleD/TotalLiabilityAmt0501283
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SERVICES PROVIDED TO CULTIVATE THE GROWTH OF SEVERAL NEW BUSINESSES BY PROVIDING BUSINESS DEVELOPMENT ASSISTANCE TO AREA ENTREPRENEURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03794813
IRS990/TotalAssetsEOYAmt03631158
IRS990/TotalAssetsGrp/BOYAmt03794813
IRS990/TotalAssetsGrp/EOYAmt03631158
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03109
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt013900
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0135355
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0507088
IRS990/TotalFunctionalExpensesGrp/TotalAmt0656343
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0615314
IRS990/TotalLiabilitiesEOYAmt0568594
IRS990/TotalLiabilitiesGrp/BOYAmt0615314
IRS990/TotalLiabilitiesGrp/EOYAmt0568594
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03179499
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03062564
IRS990/TotalProgramServiceExpensesAmt0507088
IRS990/TotalProgramServiceRevenueAmt0536299
IRS990/TotalReportableCompFromOrgAmt0110000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0536299
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0539408
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03794813
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03631158
IRS990/TravelGrp/FundraisingAmt0210
IRS990/TravelGrp/ManagementAndGeneralAmt0314
IRS990/TravelGrp/ProgramServicesAmt01572
IRS990/TravelGrp/TotalAmt02096
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03179499
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03062564
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt018528
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt023075
IRS990/USAddress/AddressLine1Txt0516 TENNESSEE ST
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038103
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.EMERGEMEMPHIS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CARLTON CROTHERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MEMPHIS INCUBATOR SYSTEMS INC
ReturnHeader/Filer/BusinessNameControlTxt0MEMP
ReturnHeader/Filer/EIN0621739744
ReturnHeader/Filer/USAddress/AddressLine1Txt0516 TENNESSEE STREET
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038103
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205278613
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PATRICK ACCOUNTING & TAX SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05570 MURRAY AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381193805
ReturnHeader/PreparerPersonGrp/PhoneNum09017555858
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER L GANN EA
ReturnHeader/ReturnTs02017-05-15T13:58:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,631,158
Liabilities
$568,594
Net assets
$3,062,564
Revenue
$539,408
Expenses
$656,343
Net income
-$116,935
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.09$1.40$1.31
2019Detailed filing. Detailed filing data is available for this year.$1.39$0.08$1.31$0.83$0.54$1.36
2018Detailed filing. Detailed filing data is available for this year.$3.34$0.67$2.67$0.57$0.82$0.24
2017Detailed filing. Detailed filing data is available for this year.$3.47$0.56$2.92$0.60$0.71$0.11
2016Detailed filing. Detailed filing data is available for this year.$3.63$0.57$3.06$0.54$0.66$0.12
2015Summary only. Only limited summary data is available for this year.$3.79$0.62$3.18$0.51$0.68$0.16
2014Summary only. Only limited summary data is available for this year.$3.97$0.62$3.34$0.65$0.74$0.08
2013Summary only. Only limited summary data is available for this year.$4.14$0.72$3.43$0.57$0.69$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.27$0.72$3.55$0.72
2011Summary only. Only limited summary data is available for this year.$4.32$0.67$3.65$1.44$0.61$0.83
2010Summary only. Only limited summary data is available for this year.$3.20$0.38$2.82$0.49$0.56$0.06