Civic Intelligence

University of Memphis Foundation

EIN 62-6048540 • 501(c)3 • Memphis, TN

Profile

The foundation accepts and administers support to the university ofmemphis.

635 Normal St Alumni Center 108Memphis, TN 38152

www.memphis.edu/ADVANCE/FOUNDATION

Siviq Scores

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

Liabilities / Assets

21st percentile

0.07x

Higher debt load relative to assets than 21% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

49th percentile

0.47x

Higher debt load relative to revenue than 49% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

91st percentile

44%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

45th percentile

$735,932

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

86th percentile

19%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

9th percentile

-14%

Faster revenue growth than 9% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$222,735,067

Up $38,037,915 (+21%) from 2022

Liabilities

Up

$15,671,246

Up $9,418,165 (+151%) from 2022

Net Assets

Up

$207,063,821

Up $28,619,750 (+16%) from 2022

Revenue

Down

$47,641,079

Down $8,315,741 (-15%) from 2022

Expenses

Up

$32,781,998

Up $4,743,426 (+17%) from 2022

Net Income

Down

$14,859,081

Down $13,059,167 (-47%) from 2022

Trend Graphs

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $108,267,950Liabilities 2010: $11,781,332Net Assets 2010: $96,486,6182010Assets 2011: $112,475,693Liabilities 2011: $10,323,910Net Assets 2011: $102,151,7832011Assets 2012: $114,262,222Liabilities 2012: $10,787,517Net Assets 2012: $103,474,7052012Assets 2013: $130,090,055Liabilities 2013: $11,709,136Net Assets 2013: $118,380,9192013Assets 2014: $148,112,570Liabilities 2014: $11,045,610Net Assets 2014: $137,066,9602014Assets 2015: $149,589,792Liabilities 2015: $9,025,691Net Assets 2015: $140,564,1012015Assets 2016: $151,080,361Liabilities 2016: $8,952,120Net Assets 2016: $142,128,2412016Assets 2017: $147,058,984Liabilities 2017: $8,829,817Net Assets 2017: $138,229,1672017Assets 2018: $149,161,436Liabilities 2018: $9,776,193Net Assets 2018: $139,385,2432018Assets 2019: $152,560,360Liabilities 2019: $10,008,898Net Assets 2019: $142,551,4622019Assets 2020: $142,154,480Liabilities 2020: $7,678,568Net Assets 2020: $134,475,9122020Assets 2021: $175,396,802Liabilities 2021: $4,416,506Net Assets 2021: $170,980,2962021Assets 2022: $184,697,152Liabilities 2022: $6,253,081Net Assets 2022: $178,444,0712022Assets 2023: $222,735,067Liabilities 2023: $15,671,246Net Assets 2023: $207,063,8212023

Highlighted filing

2023

Assets$222,735,067
Liabilities$15,671,246
Net Assets$207,063,821

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $26,081,4762010Expenses 2011: $23,399,9502011Revenue 2012: $27,007,956Expenses 2012: $24,820,379Net Income 2012: $2,187,5772012Expenses 2013: $25,898,5642013Revenue 2014: $48,836,828Expenses 2014: $28,277,714Net Income 2014: $20,559,1142014Revenue 2015: $29,080,439Expenses 2015: $25,295,608Net Income 2015: $3,784,8312015Revenue 2016: $29,795,643Expenses 2016: $23,534,292Net Income 2016: $6,261,3512016Revenue 2017: $20,287,018Expenses 2017: $35,144,543Net Income 2017: -$14,857,5252017Revenue 2018: $48,795,666Expenses 2018: $31,601,622Net Income 2018: $17,194,0442018Revenue 2019: $36,020,997Expenses 2019: $35,294,847Net Income 2019: $726,1502019Revenue 2020: $23,075,721Expenses 2020: $26,255,373Net Income 2020: -$3,179,6522020Revenue 2021: $38,710,840Expenses 2021: $32,519,523Net Income 2021: $6,191,3172021Revenue 2022: $55,956,820Expenses 2022: $28,038,572Net Income 2022: $27,918,2482022Revenue 2023: $47,641,079Expenses 2023: $32,781,998Net Income 2023: $14,859,0812023

Highlighted filing

2023

Revenue$47,641,079
Expenses$32,781,998
Net Income$14,859,081

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$223$15.7$207$47.6$32.8$14.9
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$185$6.25$178$56.0$28.0$27.9
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$175$4.42$171$38.7$32.5$6.19
2020Summary only. Only limited summary data is available for this year.$142$7.68$134$23.1$26.3$3.18
2019Summary only. Only limited summary data is available for this year.$153$10.0$143$36.0$35.3$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$149$9.78$139$48.8$31.6$17.2
2017Summary only. Only limited summary data is available for this year.$147$8.83$138$20.3$35.1$14.9
2016Detailed filing. Detailed filing data is available for this year.$151$8.95$142$29.8$23.5$6.26
2015Detailed filing. Detailed filing data is available for this year.$150$9.03$141$29.1$25.3$3.78
2014Detailed filing. Detailed filing data is available for this year.$148$11.0$137$48.8$28.3$20.6
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$130$11.7$118$25.9
2012Summary only. Only limited summary data is available for this year.$114$10.8$103$27.0$24.8$2.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$10.3$102$23.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$11.8$96.5$26.1
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.2
Gross Receipts
$85,612,955
Mission and Program Overview

Mission

The foundation accepts and administers private support to the unversity of memphis.

The foundation accepts and administers support to the university of memphis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$141,043,979$131,847,371▼ $9,196,608
Pledges and Grants Receivable$13,103,196$29,200,192▲ $16,096,996
Investments Other Securities$19,523,924$19,977,808▲ $453,884
Cash and Non-Interest-Bearing Accounts$1,581,356$3,528,866▲ $1,947,510
Total Assets$175,396,802$184,697,152▲ $9,300,350
Other Assets Total$144,347$142,915▼ $1,432
Liabilities
Accounts Payable and Accrued Expenses$4,268,756$6,111,706▲ $1,842,950
Other Liabilities$147,750$141,375▼ $6,375
Total Liabilities$4,416,506$6,253,081▲ $1,836,575
Net Assets / Fund Balance
Net Assets With Donor Restrictions$166,936,286$174,204,087▲ $7,267,801
Net Assets Without Donor Restrictions$4,044,010$4,239,984▲ $195,974
Total Net Assets Fund Balance$170,980,296$178,444,071▲ $7,463,775
Total Liabilities and Net Assets / Fund Balance$175,396,802$184,697,152▲ $9,300,350

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$19,977,808--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$136,668,225$12,285,239▼ $20,308,899$2,767,715$125,876,850
2020$96,488,206$10,860,668▲ $32,930,842$3,611,491$136,668,225
2019$102,828,605$2,523,525▼ $3,520,946$5,342,978$96,488,206
2018$99,857,196$4,478,136▲ $1,358,203$2,864,930$102,828,605
2017$96,970,031$3,666,417▲ $2,108,987$2,888,239$99,857,196
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Carolyn StanleyFoundation DirectorFT$146,305$146,305
Byron MorganManaging DirectorFT$126,274$126,274
Holly FordFoundation CEOPT$102,925$102,925

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Eab GlobalTechnology ServicesPO BOX 603519, Charlotte, NC 28260-3519$222,281
Suzanne Fluke DrumwrightMarketing Consulting7944 CROSS VILLAGE CV, Germantown, TN 38138$181,892
Revenue and Support

Revenue Composition

Contributions and Grants
$52,204,271
Program Service Revenue
$0
Investment Income
$3,193,268
Other Revenue
$559,281
All Other Contributions
$52,204,271
Change in Net Assets
$27,918,248

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded17$987,752Fair Market Value
Total Noncash Contributions17$987,752-

Audited Revenue Reconciliation

Revenue per Audited Statements
$55,478,487
Revenue Not Reported on Financial Statements
$478,333
Revenue Not Reported on Form 990
$-20,305,470
Other Revenue Adjustments
$304,036
Total Revenue per Audited Statements
$35,173,017
Total Revenue per Form 990
$55,956,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,412,523
Grants and Similar Amounts Paid$7,528,626
Salaries, Compensation, and Employee Benefits$1,097,423
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$7,528,626--$7,528,626
Other Salaries and Wages$493,907$111,632-$605,539
Current Officers, Directors, Trustees, and Key Employees-$347,322-$347,322
Interest-$304,036-$304,036
Fees for Service Investment Mgmnt Fees-$174,297-$174,297
Other Employee Benefits-$144,562-$144,562
Fees for Services Other-$75,617-$75,617
Fees for Services Accounting-$40,863-$40,863
Insurance-$15,262-$15,262
Office Expenses-$11,917-$11,917
Fees for Services Legal-$8,943-$8,943
Advertising-$1,926-$1,926
Information Technology-$1,403-$1,403
Conferences and Meetings-$385-$385
Other Expenses$17,743,227$110-$110
Total Functional Expenses$25,765,760$2,272,812$0$28,038,572

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$28,038,572
Total Expenses per Audited Statements$27,709,242
Expenses per Audited Statements$27,560,239
Expenses Not Reported on Financial Statements$478,333
Other Expense Adjustments$304,036
Expenses Not Reported on Form 990$149,003
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of MemphisMemphis, TN501 (c)Awards & Scholarships$7,528,626

International Summary

Offices
0
Employees
0
Spending
$2,563,101

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investment-00$2,563,101
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
Gift Annuity Obligations$141,375
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section B, Line 11B

The form 990 is reviewed by the managing director and the foundation director prior to filing.

Form 990, Part VI, Section B, Line 12C

This policy is monitored and enforced by the university of memphis foundation's officers and employees in a manner addressed in the code of ethics section of the foundation's policies and procedures.

Form 990, Part VI, Section B, Line 15

All paid foundation positions are subjected to an independent salary review by state of tennessee personnel in accordance with state of tennessee policies and procedures.

Form 990, Part VI, Section C, Line 19

The organization does not make its governing documents or conflict of interest policy available for public inspection. The financial statements are made available on the organizations website.

FORM 990, PART VII, SECTION A:

The university of memphis foundation (umf) reimburses the university of memphis (u of m) for all of the compensation and benefits of umf's managing director. Therefore, the form w-3 is filed by the university of memphis.

Filing and Contact Details

Filer

Filer Name
University of Memphis Foundation
EIN
62-6048540
Phone
9016783256
Address
635 NORMAL ST ALUMNI CENTER 108, MEMPHIS, TN 38152

Signing Officer

Name
Holly Ford
Title
Foundation CEO
Phone
9016783256
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Holly Ford
Formed
1964
Legal Domicile
Tn
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
17

Preparer

Firm
Forvis Llp
Address
999 S SHADY GROVE RD STE 400, MEMPHIS, TN 38120
Preparer
Amy Bibby
Phone
9017613000
Supplemental Narrative

Additional Explanations

FORM 990, PART IX, LINE 24A, UNIVERSITY SUPPORT DETAIL:

Conferences and travel 97,898 supplies 281,405 postage 10,259 printing 105,382 telephone and communications 3,777 maintenance and repairs 1,301 annuity expenses 19,281 professional services 1,581,741 publicity/public relations 83,650 rental fees 109,015 insurance other 72,315 other expenses 7,659,856 dues and membership subscriptions 168,018 meals and entertainment 420,403 tickets 11,764 sponsorships and donations 1,849,538 gifts and flowers 40,259 fees 695,196 honorariums 24,550 university support 1,746,646 usa grants special projects 2,003,011 furniture and equipment 368,492 construction and renovation 389,470 total - university support 17,743,227

FORM 990, PART XII, LINE 2C:

There is no change from prior year.

Financial Statement Notes

PART V, LINE 4:

The university of memphis foundation's endowment accounts consist of donor-restricted endowment funds and include approximately 600 individual funds established for a variety of purposes. As required by gaap, net assets associated with endowment funds are classified and reported based on the existence or absence of donor imposed restrictions. The board of directors of the university of memphis foundation has interpreted upmifa as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the foundation classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment funds and (b) the original value of subsequent gifts to the permanent endowment funds. The remaining portion of the donor-restricted endowment funds that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the foundation in a manner consistent with the standard of prudence prescribed by upmifa. In accordance with upmifa, the foundation considers the following factors in making a determination to appropriate or accumulate donor restricted endowment funds: - the duration and preservation of the fund - the purposes of the foundation and the donor-restricted endowment fund - general economic conditions - the possible effect of inflation and deflation - the expected total return from income and the appreciation of investments - other resources of the foundation - the investment policies of the foundation

PART X, LINE 2:

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and is similarly exempt from tennessee state income taxes under applicable provisions of the tennessee tax regulations. The foundation's limited partnership investments generate unrelated business income or loss activity which is subject to federal income taxes. There was no unrelated business income tax expense (ubit) for the years ended june 30, 2022 and 2021. The foundation has determined that it does not have any material uncertain tax positions as of june 30, 2022, and there is no interest or penalties related to income tax assessments.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Interest expense 304,036.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Interest expense 304,036.

Raw XML AppendixShowing 400 of 699 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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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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