Civic Intelligence

The Cotton Museum Inc

EIN 62-1828260 • 501(c)3 • Memphis, TN

Profile

Providing a historically accurate and educational museum.

65 Union AveMemphis, TN 38103

memphiscottonmuseum.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.21x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

91st percentile

0.83x

Higher debt load relative to revenue than 91% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

78th percentile

26%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

60th percentile

7.7%

Faster asset growth than 60% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

86%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$934,903

Up $67,163 (+7.7%) from 2023

Liabilities

Up

$200,259

Up $4,784 (+2.4%) from 2023

Net Assets

Up

$734,644

Up $62,379 (+9.3%) from 2023

Operations
Liabilities / Revenue91st percentileNet Margin78th percentile

Revenue

Up

$241,507

Up $112,011 (+86%) from 2023

Expenses

Up

$179,128

Up $9,269 (+5.5%) from 2023

Net Income

Up

$62,379

Up $102,742 (+255%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth60th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $1,421,384Liabilities 2011: $23,450Net Assets 2011: $1,397,9342011Assets 2013: $1,224,033Liabilities 2013: $84,628Net Assets 2013: $1,139,4052013Assets 2014: $1,206,145Liabilities 2014: $84,543Net Assets 2014: $1,121,6022014Assets 2015: $1,182,211Liabilities 2015: $136,675Net Assets 2015: $1,045,5362015Assets 2016: $1,110,292Liabilities 2016: $96,822Net Assets 2016: $1,013,4702016Assets 2017: $1,064,436Liabilities 2017: $98,939Net Assets 2017: $965,4972017Assets 2018: $1,035,400Liabilities 2018: $129,254Net Assets 2018: $906,1462018Assets 2019: $1,007,130Liabilities 2019: $167,540Net Assets 2019: $839,5902019Assets 2020: $944,876Liabilities 2020: $186,635Net Assets 2020: $758,2412020Assets 2021: $1,004,546Liabilities 2021: $183,422Net Assets 2021: $821,1242021Assets 2022: $921,928Liabilities 2022: $176,496Net Assets 2022: $745,4322022Assets 2023: $867,740Liabilities 2023: $195,475Net Assets 2023: $672,2652023Assets 2024: $934,903Liabilities 2024: $200,259Net Assets 2024: $734,6442024

Highlighted filing

2024

Assets$934,903
Liabilities$200,259
Net Assets$734,644
Open 2024 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2011: $205,469Expenses 2011: $225,467Net Income 2011: -$19,9982011Revenue 2013: $252,093Expenses 2013: $307,357Net Income 2013: -$55,2642013Revenue 2014: $317,963Expenses 2014: $308,466Net Income 2014: $9,4972014Revenue 2015: $215,742Expenses 2015: $264,508Net Income 2015: -$48,7662015Revenue 2016: $160,430Expenses 2016: $192,496Net Income 2016: -$32,0662016Revenue 2017: $125,925Expenses 2017: $173,898Net Income 2017: -$47,9732017Revenue 2018: $114,527Expenses 2018: $173,878Net Income 2018: -$59,3512018Revenue 2019: $117,808Expenses 2019: $184,364Net Income 2019: -$66,5562019Revenue 2020: $43,040Expenses 2020: $124,389Net Income 2020: -$81,3492020Revenue 2021: $167,514Expenses 2021: $104,631Net Income 2021: $62,8832021Revenue 2022: $118,457Expenses 2022: $194,149Net Income 2022: -$75,6922022Revenue 2023: $129,496Expenses 2023: $169,859Net Income 2023: -$40,3632023Revenue 2024: $241,507Expenses 2024: $179,128Net Income 2024: $62,3792024

Highlighted filing

2024

Revenue$241,507
Expenses$179,128
Net Income$62,379
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$934,903
Liabilities
$200,259
Net assets
$734,644
Revenue
$241,507
Expenses
$179,128
Net income
$62,379
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.20$0.73$0.24$0.18$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.20$0.67$0.13$0.17$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.18$0.75$0.12$0.19$0.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.18$0.82$0.17$0.10$0.06
2020Detailed filing. Detailed filing data is available for this year.$0.94$0.19$0.76$0.04$0.12$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.17$0.84$0.12$0.18$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.13$0.91$0.11$0.17$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.10$0.97$0.13$0.17$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.10$1.01$0.16$0.19$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.18$0.14$1.05$0.22$0.26$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.21$0.08$1.12$0.32$0.31$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.22$0.08$1.14$0.25$0.31$0.06
2011Summary only. Only limited summary data is available for this year.$1.42$0.02$1.40$0.21$0.23$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 23, 2025
Return Version
2024v5.0
Gross Receipts
$261,965
Mission and Program Overview

Mission

Providing a historically accurate and educational museum.

Preservation of the history, heritage, and culture of the cotton industry in general and on the cotton industry's impact of the history, heritage, and culture of memphis, tennessee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$537,663$556,390▲ $18,727
Cash and Non-Interest-Bearing Accounts$28,805$76,829▲ $48,024
Inventories for Sale or Use$9,692$9,692→ $0
Accounts Receivable$750--
Total Assets$867,740$934,903▲ $67,163
Other Assets Total$290,830$291,992▲ $1,162
Liabilities
Accounts Payable and Accrued Expenses$131,393$136,178▲ $4,785
Other Liabilities$64,082$64,081▼ $1
Total Liabilities$195,475$200,259▲ $4,784
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$644,500$715,141▲ $70,641
Net Assets With Donor Restrictions$27,765$19,503▼ $8,262
Total Net Assets Fund Balance$672,265$734,644▲ $62,379
Total Liabilities and Net Assets / Fund Balance$867,740$934,903▲ $67,163

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$24,675$4,946-
Equipment-$389,459-
Leasehold Improvements$531,715$443,110-
Other Assets Org$-27,300--
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Calvin TurleyPresident
Chip CrainMember
Derita WilliamsMember
Hope BrooksMember
Kellie PrescottMember
London LamarMember
Mcclain GordonMember
S W Farsnworth IiiMember
Sarah HaizlipMember
Tanja MitchellMember
Thomas MillerMember
Wanda SheaMember
Will CarterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$171,134
Program Service Revenue
$47,717
Investment Income
$0
Other Revenue
$22,656
All Other Contributions
$129,200
Change in Net Assets
$62,379
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$116,218
Salaries, Compensation, and Employee Benefits$62,910
Total Fundraising Expense$6,291
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,217$13,463$5,853$58,533
Depreciation Depletion$37,906--$37,906
Occupancy$29,947$3,815-$33,762
Fees for Services Accounting-$9,200-$9,200
Office Expenses$1,805$6,046-$7,851
Payroll Taxes$2,932$1,007$438$4,377
Insurance$3,201$656-$3,857
All Other Expenses$2,425$496-$2,921
Advertising$2,846--$2,846
Other Expenses$1,917--$1,917
Interest-$190-$190
Total Functional Expenses$137,964$34,873$6,291$179,128
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$36,539
Fundraising Direct Expenses$11,258
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Harvest Party$34,169$34,169$1,643$32,526
Total Events$34,169$34,169$8,365$25,804
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mce Demand Promisory Note$64,081
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 35% controlled entity
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
Yes
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

“Form 990 is distributed to members after filing with the review and approval by the treasurer.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy statements are distributed to and completed by board members at the annual meeting. Those not present are later contacted for follow-up.”

Form 990, Page 6, Part VI, Line 19

“These are distributed in the regular and annual meetings, and they can also be requested at any time.”

Filing and Contact Details

Filer

Filer Name
Cotton Museum Inc
EIN
62-1828260
Phone
9015317826
Address
65 UNION AVE, MEMPHIS, TN 38103

Signing Officer

Name
Will Carter
Title
Treasurer
Phone
9016474630
Signed
2025-10-23

Organization Details

Principal Officer
Will Carter
Formed
2000
Legal Domicile
Tn
Voting Board Members
14
Independent Board Members
14
Employees
6

Preparer

Firm
Lenahan Smith & Bargiachi Pc
Address
1080 BROOKFIELD RD, MEMPHIS, TN 38119
Preparer
Michael Wyrick CPA
Phone
9016841100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Preservaton of the history, heritage, and culture of the cotton industry in general and on the cotton industry's impact on the history, heritage, and culture of memphis, tennessee. Its purpose is to honor and preserve the historical record of the individuals, businesses, and events that have affected the cotton industry by providing a historically acurate and educational museum in memphis, tennessee.”

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

“Preservaton of the history, heritage, and culture of the cotton industry in general and on the cotton industry's impact on the history, heritage, and culture of memphis, tennessee. Its purpose is to honor and preserve the historical record of the individuals, businesses, and events that have affected the cotton industry by providing a historically acurate and educational museum in memphis, tennessee.”

Raw XML AppendixShowing 400 of 428 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRESERVATON OF THE HISTORY, HERITAGE, AND CULTURE OF THE COTTON INDUSTRY IN GENERAL AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING A HISTORICALLY ACURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESERVATON OF THE HISTORY, HERITAGE, AND CULTURE OF THE COTTON INDUSTRY IN GENERAL AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING A HISTORICALLY ACURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS DISTRIBUTED TO MEMBERS AFTER FILING WITH THE REVIEW AND APPROVAL BY THE TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY STATEMENTS ARE DISTRIBUTED TO AND COMPLETED BY BOARD MEMBERS AT THE ANNUAL MEETING. THOSE NOT PRESENT ARE LATER CONTACTED FOR FOLLOW-UP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THESE ARE DISTRIBUTED IN THE REGULAR AND ANNUAL MEETINGS, AND THEY CAN ALSO BE REQUESTED AT ANY TIME.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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