Civic Intelligence

Memphis Incubator Systems Inc

990 • Fiscal year 2018 • EIN 62-1739744

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 08, 2018

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

64th percentile

0.20x

Higher debt load relative to assets than 64% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

1.16x

Higher debt load relative to revenue than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

7th percentile

-42%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

73rd percentile

$110,000

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 19.1% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

28th percentile

-3.8%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

31st percentile

-3.5%

Faster revenue growth than 31% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$3,342,385

Down $130,487 (-3.8%) from 2017

Net Assets

Down

$2,674,613

Down $241,814 (-8.3%) from 2017

Liabilities

Up

$667,772

Up $111,327 (+20%) from 2017

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin7th percentile

Revenue

Down

$574,937

Down $20,671 (-3.5%) from 2017

Expenses

Up

$816,751

Up $109,585 (+15%) from 2017

Net Income

Down

-$241,814

Down $130,256 (-117%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2018

Assets$3,342,385
Liabilities$667,772
Net Assets$2,674,613
Open 2018 Filing

Operations Trend

Revenue Growth31st 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

2018

Revenue$574,937
Expenses$816,751
Net Income-$241,814
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 8, 2018
Return Version
2017v2.3
Gross Receipts
$575,848
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$3,421,329$3,271,778▼ $149,551
Cash and Non-Interest-Bearing Accounts$36,065$53,696▲ $17,631
Accounts Receivable$8,021$12,461▲ $4,440
Prepaid Expenses and Deferred Charges$5,689--
Intangible Assets$1,768$4,450▲ $2,682
Total Assets$3,472,872$3,342,385▼ $130,487
Liabilities
Other Liabilities$465,018$577,415▲ $112,397
Deferred Revenue$45,765$36,486▼ $9,279
Unsecured Notes Loans Payable$32,145$34,783▲ $2,638
Accounts Payable and Accrued Expenses$13,517$19,088▲ $5,571
Total Liabilities$556,445$667,772▲ $111,327
Net Assets / Fund Balance
Unrestricted Net Assets$2,916,427$2,674,613▼ $241,814
Total Net Assets Fund Balance$2,916,427$2,674,613▼ $241,814
Total Liabilities and Net Assets / Fund Balance$3,472,872$3,342,385▼ $130,487

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,574,352$1,902,668$3,477,020
Leasehold Improvements$1,377,337$308,051$1,685,388
Land$312,177-$312,177
Other Land Buildings$105$74,207$74,312
Equipment$7,807$50,060$57,867
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
Jay LindyDirector
Kevin HumphriesDirector
Lisa WadeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$120
Program Service Revenue
$574,817
Investment Income
$0
Other Revenue
$0
All Other Contributions
$120
Change in Net Assets
$-241,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$635,466
Salaries, Compensation, and Employee Benefits$181,285
Total Fundraising Expense$14,218
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$144,313$35,434-$179,747
Current Officers, Directors, Trustees, and Key Employees$77,000$22,000$11,000$110,000
All Other Expenses$73,362$21,743$355$95,460
Other Salaries and Wages$44,066$11,299$1,130$56,495
Other Expenses$8,830$26,489$997$35,319
Interest$21,587$5,397-$26,984
Information Technology$19,200$4,800-$24,000
Insurance$13,393$3,348-$16,741
Payroll Taxes$11,536$2,958$296$14,790
Advertising$6,070$1,536$77$7,683
Travel$2,720$544$363$3,627
Total Functional Expenses$625,313$177,220$14,218$816,751
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$577,415
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
Bryan Eagle Iii
Title
Director
Signed
2018-11-08

Organization Details

Principal Officer
Bryan Eagle Iii
Formed
1998
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Patrick Accounting and Tax Services Pllc
Address
5570 MURRAY AVENUE, MEMPHIS, TN 38119
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.”

Form 990, Part IX, Line 24E

“Fourth floor expenses 22,093 5,523 0 parking 13,944 2,490 166 supplies 12,781 3,236 162 elevator service 7,879 1,970 0 security and cleaning 6,869 0 0 bank fees 0 6,544 0 copies 2,407 602 0 other taxes 2,190 548 0 telephone 1,972 499 25 bad debt 1,909 0 0 dues and subscriptions 751 188 0 equipment rental 414 104 0 postage and shipping 153 39 2 total 73,362 21,743 355”

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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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01902668
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03477020
IRS990ScheduleD/EquipmentGrp/BookValueAmt07807
IRS990ScheduleD/EquipmentGrp/DepreciationAmt050060
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt057867
IRS990ScheduleD/LandGrp/BookValueAmt0312177
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0312177
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01377337
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0308051
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01685388
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0105
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt074207
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt074312
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0577415
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03271778
IRS990ScheduleD/TotalLiabilityAmt0577415
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/ExplanationTxt3FOURTH FLOOR EXPENSES 22,093 5,523 0 PARKING 13,944 2,490 166 SUPPLIES 12,781 3,236 162 ELEVATOR SERVICE 7,879 1,970 0 SECURITY AND CLEANING 6,869 0 0 BANK FEES 0 6,544 0 COPIES 2,407 602 0 OTHER TAXES 2,190 548 0 TELEPHONE 1,972 499 25 BAD DEBT 1,909 0 0 DUES AND SUBSCRIPTIONS 751 188 0 EQUIPMENT RENTAL 414 104 0 POSTAGE AND SHIPPING 153 39 2 TOTAL 73,362 21,743 355
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03472872
IRS990/TotalAssetsEOYAmt03342385
IRS990/TotalAssetsGrp/BOYAmt03472872
IRS990/TotalAssetsGrp/EOYAmt03342385
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0120
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt014218
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0177220
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0625313
IRS990/TotalFunctionalExpensesGrp/TotalAmt0816751
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0556445
IRS990/TotalLiabilitiesEOYAmt0667772
IRS990/TotalLiabilitiesGrp/BOYAmt0556445
IRS990/TotalLiabilitiesGrp/EOYAmt0667772
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02916427
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02674613
IRS990/TotalProgramServiceExpensesAmt0625313
IRS990/TotalProgramServiceRevenueAmt0574817
IRS990/TotalReportableCompFromOrgAmt0110000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0574817
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0574937
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03472872
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03342385
IRS990/TravelGrp/FundraisingAmt0363
IRS990/TravelGrp/ManagementAndGeneralAmt0544
IRS990/TravelGrp/ProgramServicesAmt02720
IRS990/TravelGrp/TotalAmt03627
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02916427
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02674613
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt032145
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt034783
IRS990/USAddress/AddressLine1Txt02250 COURT AVENUE
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IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038103
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.EMERGEMEMPHIS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRYAN EAGLE III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-08
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/FilingSecurityInformation/AtSubmissionCreationDeviceId08217B55D9A6604776F21BFBD2699B64057420C2F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08217B55D9A6604776F21BFBD2699B64057420C2F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.106.32.105
ReturnHeader/FilingSecurityInformation/IPDt02019-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:05:32
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205278613
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PATRICK ACCOUNTING AND TAX SERVICES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05570 MURRAY AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038119
ReturnHeader/PreparerPersonGrp/PhoneNum09017555858
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER L GANN EA
ReturnHeader/ReturnTs02019-05-14T13:05:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,342,385
Liabilities
$667,772
Net assets
$2,674,613
Revenue
$574,937
Expenses
$816,751
Net income
-$241,814
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