Civic Intelligence

Memphis Incubator Systems Inc

990 • Fiscal year 2019 • EIN 62-1739744

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 19, 2020

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

45th percentile

0.06x

Higher debt load relative to assets than 45% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

100th percentile

165%

Higher net margin than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

73rd percentile

$110,000

Higher top officer pay than 73% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

1st percentile

-58%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets45th percentile

Assets

Down

$1,387,775

Down $1,954,610 (-58%) from 2018

Net Assets

Down

$1,310,042

Down $1,364,571 (-51%) from 2018

Liabilities

Down

$77,733

Down $590,039 (-88%) from 2018

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$825,639

Down $1,400,576 (-244%) from 2018

Expenses

Down

$538,932

Down $277,819 (-34%) from 2018

Net Income

Down

-$1,364,571

Down $1,122,757 (-464%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2019

Assets$1,387,775
Liabilities$77,733
Net Assets$1,310,042
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2019

Revenue-$825,639
Expenses$538,932
Net Income-$1,364,571
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 19, 2020
Return Version
2018v3.2
Gross Receipts
$2,353,026
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$1,200,000-
Cash and Non-Interest-Bearing Accounts$53,696$186,039▲ $132,343
Intangible Assets$4,450--
Accounts Receivable$12,461$1,444▼ $11,017
Land, Buildings, and Equipment, Net$3,271,778$292▼ $3,271,486
Total Assets$3,342,385$1,387,775▼ $1,954,610
Liabilities
Other Liabilities$577,415--
Unsecured Notes Loans Payable$34,783$37,123▲ $2,340
Deferred Revenue$36,486$36,486→ $0
Accounts Payable and Accrued Expenses$19,088$4,124▼ $14,964
Total Liabilities$667,772$77,733▼ $590,039
Net Assets / Fund Balance
Unrestricted Net Assets$2,674,613$1,310,042▼ $1,364,571
Total Net Assets Fund Balance$2,674,613$1,310,042▼ $1,364,571
Total Liabilities and Net Assets / Fund Balance$3,342,385$1,387,775▼ $1,954,610

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$292$3,320$3,612
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

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

Board Members and Trustees

NameTitle
Bryan Eagle IiiDirector
Jay LindyDirector
Joe FracchiaDirector
John OgleDirector
Kevin HumphriesDirector
Lisa WadeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$77
Program Service Revenue
$333,788
Investment Income
$-1,159,504
Other Revenue
$0
All Other Contributions
$77
Change in Net Assets
$-1,364,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$355,043
Salaries, Compensation, and Employee Benefits$183,889
Total Fundraising Expense$15,311
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$91,610$26,175$13,087$130,872
Depreciation Depletion$77,817$19,454-$97,271
Occupancy$60,048$15,203$760$76,011
Other Salaries and Wages$19,800$5,077$508$25,385
Fees for Services Accounting$5,804$17,414-$23,218
Information Technology$16,678$4,168-$20,846
Other Employee Benefits$12,147$3,115$311$15,573
Interest$11,947$2,987-$14,934
Payroll Taxes$9,406$2,412$241$12,059
Insurance$9,291$2,323-$11,614
Office Expenses$7,057$1,776$51$8,884
Fees for Services Legal$1,238$3,713-$4,951
All Other Expenses$3,656$919$20$4,595
Advertising$2,114$535$27$2,676
Other Expenses$1,981$502$25$2,508
Travel$1,093$219$146$1,458
Total Functional Expenses$400,414$123,207$15,311$538,932
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
Backup withholding compliance
No
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

Signing Officer

Name
Bryan Eagle Iii
Title
Director
Signed
2020-02-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bryan Eagle Iii
Formed
1998
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Alexander Thompson Arnold Pllc
Address
6525 N QUAIL HOLLOW SUITE 500, MEMPHIS, TN 38120
Preparer
Charles E Mclean CPA
Phone
9016841170
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,387,775
Liabilities
$77,733
Net assets
$1,310,042
Revenue
-$825,639
Expenses
$538,932
Net income
-$1,364,571
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