Civic Intelligence

Memphis Tomorrow

990 • Fiscal year 2020 • EIN 62-1867308

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileWWW.MEMPHISTOMORROW.ORG

View Organization Page

22 N Front Street 670Memphis, TN 38103

(901) 685-3404

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

95th percentile

$309,471

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 29.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

2nd percentile

-34%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-11%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$296,692

Down $155,569 (-34%) from 2019

Net Assets

Down

$296,692

Down $155,569 (-34%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin19th percentile

Revenue

Down

$1,050,000

Down $125,537 (-11%) from 2019

Expenses

Up

$1,205,569

Up $178,133 (+17%) from 2019

Net Income

Down

-$155,569

Down $303,670 (-205%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,028,441Liabilities 2010: $2,590Net Assets 2010: $1,025,8512010Assets 2011: $1,166,211Liabilities 2011: $0Net Assets 2011: $1,166,2112011Assets 2012: $521,220Liabilities 2012: $0Net Assets 2012: $521,2202012Assets 2013: $438,052Liabilities 2013: $0Net Assets 2013: $438,0522013Assets 2014: $466,455Liabilities 2014: $0Net Assets 2014: $466,4552014Assets 2015: $351,947Liabilities 2015: $213Net Assets 2015: $351,7342015Assets 2016: $99,190Liabilities 2016: $0Net Assets 2016: $99,1902016Assets 2017: $387,071Liabilities 2017: $0Net Assets 2017: $387,0712017Assets 2018: $304,160Liabilities 2018: $0Net Assets 2018: $304,1602018Assets 2019: $452,261Liabilities 2019: $0Net Assets 2019: $452,2612019Assets 2020: $296,692Liabilities 2020: $0Net Assets 2020: $296,6922020Assets 2021: $404,027Liabilities 2021: $6,745Net Assets 2021: $397,2822021Assets 2022: $526,503Liabilities 2022: $49,469Net Assets 2022: $477,0342022Assets 2023: $503,077Liabilities 2023: $253,701Net Assets 2023: $249,3762023Assets 2024: $635,085Liabilities 2024: $292,468Net Assets 2024: $342,6172024

Highlighted filing

2020

Assets$296,692
Liabilities$0
Net Assets$296,692
Open 2020 Filing

Operations Trend

Revenue Growth32nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $4,339,5012010Expenses 2011: $4,013,1632011Expenses 2012: $2,262,5842012Revenue 2013: $861,705Expenses 2013: $944,873Net Income 2013: -$83,1682013Revenue 2014: $1,753,295Expenses 2014: $1,724,892Net Income 2014: $28,4032014Revenue 2015: $1,210,000Expenses 2015: $1,327,502Net Income 2015: -$117,5022015Revenue 2016: $1,695,000Expenses 2016: $1,946,247Net Income 2016: -$251,2472016Revenue 2017: $1,908,200Expenses 2017: $1,621,241Net Income 2017: $286,9592017Revenue 2018: $1,745,000Expenses 2018: $1,827,911Net Income 2018: -$82,9112018Revenue 2019: $1,175,537Expenses 2019: $1,027,436Net Income 2019: $148,1012019Revenue 2020: $1,050,000Expenses 2020: $1,205,569Net Income 2020: -$155,5692020Revenue 2021: $1,030,000Expenses 2021: $928,983Net Income 2021: $101,0172021Revenue 2022: $1,027,400Expenses 2022: $947,648Net Income 2022: $79,7522022Revenue 2023: $952,639Expenses 2023: $1,180,297Net Income 2023: -$227,6582023Revenue 2024: $1,152,867Expenses 2024: $1,059,626Net Income 2024: $93,2412024

Highlighted filing

2020

Revenue$1,050,000
Expenses$1,205,569
Net Income-$155,569
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$1,050,000
Mission and Program Overview

Mission

To bring top business leaders together with government and civic leadership to foster economic prosperity and quality of life for all who live in the memphis community. The initiatives are focused in those areas which directly impact economic growth and opportunity, including: human capital development, industry development, and public safety.

Memphis tomorrow is an association of ceos of memphis' largest businesses working to promote opportunity and quality of life for all memphians through collective action and public-private partnerships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$443,512$289,021▼ $154,491
Land, Buildings, and Equipment, Net$5,999$4,921▼ $1,078
Total Assets$452,261$296,692▼ $155,569
Other Assets Total$2,750$2,750→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$452,261$296,692▼ $155,569
Total Net Assets Fund Balance$452,261$296,692▼ $155,569
Total Liabilities and Net Assets / Fund Balance$452,261$296,692▼ $155,569

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,921$85,327$90,248
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Blair TaylorPresidentFT$266,721$42,750$309,471

Board Members and Trustees

NameTitle
Mark SuttonVice Chairma
Beverly RobertsonDirector
Bryan JordanDirector
David PerryDirector
David SlottDirector
Dr James R DowningDirector
Edward DobbsDirector
Gary ShorbDirector
H Eric Bolton JrDirector
Jason LittleDirector
John AlexanderDirector
John CarsonDirector
Karl SchledwitzDirector
Kevin MceniryDirector
Marjorie HaasDirector
Michael UgwuekeDirector
Pitt Hyde IiiDirector
Reginald CoopwoodDirector
Rex TibbensDirector
Richard C Shadyac JrDirector
William RhodesDirector
Johnny B Moore JrSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,050,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-155,569

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,050,000
Total Revenue per Audited Statements
$1,050,000
Total Revenue per Form 990
$1,050,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$687,993
Salaries, Compensation, and Employee Benefits$365,251
Other Expenses$152,325
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$687,993--$687,993
Current Officers, Directors, Trustees, and Key Employees$192,068$117,403-$309,471
Fees for Services Other$39,500$26,333-$65,833
Occupancy$19,894$13,259-$33,153
Other Salaries and Wages$18,000$12,000-$30,000
Fees for Services Accounting-$22,000-$22,000
Payroll Taxes$8,820$5,880-$14,700
Office Expenses$8,080$5,386-$13,466
Other Employee Benefits$263$10,817-$11,080
Information Technology$6,860$3,500-$10,360
Insurance$3,236$2,157-$5,393
Depreciation Depletion-$1,078-$1,078
Conferences and Meetings$519$346-$865
Travel$106$71-$177
Total Functional Expenses$985,339$220,230$0$1,205,569

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,205,569
Total Expenses per Audited Statements$1,205,569
Total Expenses per Form 990$1,205,569
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Memphis Shelby Crime CommMemphis, TN501c3Operations and Mpd$387,993
Memphis Brand InitiativeMemphis, TN501c3Operations$250,000
Tn for Quality Early EducationMemphis, TN501c3Operations$50,000
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
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 reviewed and approved by the executive director and made available to the board.”

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

“Annual review by each board member to ensure compliance.”

Form 990, Page 6, Part VI, Line 15A

“The president has a thorough review every year led by the current chairman.”

Form 990, Page 6, Part VI, Line 19

“All forms are available in office for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Memphis Tomorrow
EIN
62-1867308
Phone
9016853404
Address
22 N FRONT STREET 670, MEMPHIS, TN 38103

Signing Officer

Name
Blair Taylor
Title
President
Phone
9016853404
Signed
2021-11-15

Organization Details

Principal Officer
Blair Taylor
Formed
2001
Legal Domicile
Tn
Voting Board Members
22
Independent Board Members
22
Employees
2

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Steven D Hamilton
Phone
9017614692
Supplemental Narrative

Additional Explanations

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

“Memphis tomorrow supports a variety of other efforts including but not limited to cradle-to-career education programs and initiatives and economic development initiatives all in support of fostering opportunity and quality of life for all memphians.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt20PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
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IRS990/ProgSrvcAccomActy3Grp/Desc0MEMPHIS TOMORROW HAS INVESTED THROUGH THE CRIME COMMISSION IN MAYOR JIM STRICKLAND'S MODERNIZATION OF MPD'S OFFICER RECRUITMENT AND RETENTION PROGRAM. THE EFFORT HAS SEEN SIGNIFICANT SUCCESS IN THE RETENTION PROGRAM, AND MODERATE SUCCESS IN THE RECRUITMENT PROGRAM WITH EFFORTS CONTINUING TOWARDS MEETING STAFFING GOALS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0MEMPHIS TOMORROW SUPPORTS A VARIETY OF OTHER EFFORTS INCLUDING BUT NOT LIMITED TO CRADLE-TO-CAREER EDUCATION PROGRAMS AND INITIATIVES AND ECONOMIC DEVELOPMENT INITIATIVES ALL IN SUPPORT OF FOSTERING OPPORTUNITY AND QUALITY OF LIFE FOR ALL MEMPHIANS.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0REGISTERED TO BECOME A LOBBYIST
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART II-B, LINE 1
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IRS990ScheduleI/RecipientTable/CashGrantAmt250000

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$296,692
Liabilities
$0
Net assets
$296,692
Revenue
$1,050,000
Expenses
$1,205,569
Net income
-$155,569
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.29$0.34$1.15$1.06$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.50$0.25$0.25$0.95$1.18$0.23
2022Detailed filing. Detailed filing data is available for this year.$0.53$0.05$0.48$1.03$0.95$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.40$0.01$0.40$1.03$0.93$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$1.05$1.21$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$1.18$1.03$0.15
2018Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$1.75$1.83$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$1.91$1.62$0.29
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$1.70$1.95$0.25
2015Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$1.21$1.33$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$1.75$1.72$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$0.86$0.94$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.00$0.52$2.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.00$1.17$4.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$4.34