Civic Intelligence

Memphis Tomorrow

990 • Fiscal year 2023 • EIN 62-1867308

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 03, 2024

Organization ProfileWWW.MEMPHISTOMORROW.ORG

View Organization Page

40 South Main Street Suite 1530Memphis, TN 38103

(901) 322-8080

Siviq Scores

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

Liabilities / Assets

87th percentile

0.50x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

80th percentile

0.27x

Higher debt load relative to revenue than 80% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

14th percentile

-24%

Higher net margin than 14% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

98th percentile

$324,707

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 34.1% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

27th percentile

-4.4%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-7.3%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$503,077

Down $23,426 (-4.4%) from 2022

Net Assets

Down

$249,376

Down $227,658 (-48%) from 2022

Liabilities

Up

$253,701

Up $204,232 (+413%) from 2022

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin14th percentile

Revenue

Down

$952,639

Down $74,761 (-7.3%) from 2022

Expenses

Up

$1,180,297

Up $232,649 (+25%) from 2022

Net Income

Down

-$227,658

Down $307,410 (-385%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2023

Assets$503,077
Liabilities$253,701
Net Assets$249,376
Open 2023 Filing

Operations Trend

Revenue Growth28th 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

2023

Revenue$952,639
Expenses$1,180,297
Net Income-$227,658
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 3, 2024
Return Version
2023v5.0
Gross Receipts
$952,639
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$496,271$475,852▼ $20,419
Land, Buildings, and Equipment, Net$27,482$24,475▼ $3,007
Total Assets$526,503$503,077▼ $23,426
Other Assets Total$2,750$2,750→ $0
Liabilities
Grants Payable-$207,385-
Deferred Revenue-$40,000-
Other Liabilities$3,790$4,495▲ $705
Accounts Payable and Accrued Expenses$45,679$1,821▼ $43,858
Total Liabilities$49,469$253,701▲ $204,232
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$477,034$249,376▼ $227,658
Total Net Assets Fund Balance$477,034$249,376▼ $227,658
Total Liabilities and Net Assets / Fund Balance$526,503$503,077▼ $23,426

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$40,848-$40,848
Equipment$-16,373$16,373-
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Blair TaylorPresidentFT$290,716$33,991$324,707

Board Members and Trustees

NameTitle
Mark SuttonVice Chairma
Boyden MooreDirector
Bryan JordanDirector
Dr James R DowningDirector
Edward DobbsDirector
Gary ShorbDirector
H Eric Bolton JrDirector
Horace CarterDirector
Jason LittleDirector
Jean-michel RibierasDirector
Jennifer CollinsDirector
Karl SchledwitzDirector
Kevin MceniryDirector
Michael UgwuekeDirector
Peter BuckleyDirector
Philip B DanieleDirector
Pitt Hyde IiiDirector
Reginald CoopwoodDirector
Richard C Shadyac JrDirector
Ted TownsendDirector
Johnny B Moore JrSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$950,000
Program Service Revenue
$0
Investment Income
$2,639
Other Revenue
$0
All Other Contributions
$950,000
Change in Net Assets
$-227,658

Audited Revenue Reconciliation

Revenue per Audited Statements
$952,639
Total Revenue per Audited Statements
$952,639
Total Revenue per Form 990
$952,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$757,385
Salaries, Compensation, and Employee Benefits$338,855
Other Expenses$84,057
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$757,385--$757,385
Current Officers, Directors, Trustees, and Key Employees$232,573$58,143-$290,716
Fees for Services Accounting-$24,696-$24,696
Other Employee Benefits$19,053$4,763-$23,816
Occupancy$17,771$4,443-$22,214
Payroll Taxes$11,318$2,830-$14,148
Fees for Services Other$12,488--$12,488
Pension Plan Contributions$8,140$2,035-$10,175
Office Expenses$7,860$1,966-$9,826
Information Technology$5,327$1,332-$6,659
Insurance-$5,167-$5,167
Depreciation Depletion$2,406$601-$3,007
Total Functional Expenses$1,074,321$105,976$0$1,180,297

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,180,297
Total Expenses per Audited Statements$1,180,297
Total Expenses per Form 990$1,180,297
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Youth Villages IncMemphis, TN501c3Operations$282,385
Memphis Brand InitiativeMemphis, TN501c3Operations$250,000
Memphis Shelby Crime CommMemphis, TN501c3Operations$175,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$4,495
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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 president 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
9013228080
Address
40 SOUTH MAIN STREET SUITE 1530, MEMPHIS, TN 38103

Signing Officer

Name
Blair Taylor
Title
President
Phone
9013228080
Signed
2024-10-03

Organization Details

Principal Officer
Blair Taylor
Formed
2001
Legal Domicile
Tn
Voting Board Members
21
Independent Board Members
21
Employees
1

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 contributed funding to tennesseans for quality early education for purposes af advancing state policies and practices that ensure all tennessee children birth through 3rd grade get the high quality early education they need to power our state's future. Further, the organization partnered with the strickland administration to achieve a digital equity initiative via an 800 million private sector investment in a fiber network throughout the city of memphis with priority going to low income communities.”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$503,077
Liabilities
$253,701
Net assets
$249,376
Revenue
$952,639
Expenses
$1,180,297
Net income
-$227,658
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