Civic Intelligence

MDCDC Inc DBA

990 • Fiscal year 2022 • EIN 81-0729268

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

Organization Profilewww.mdcollaborative.org
656 Madison AvenueMemphis, TN 38103

(901) 552-4781

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.14x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

66th percentile

0.32x

Higher debt load relative to revenue than 66% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

10th percentile

-31%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

69th percentile

$171,080

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

29th percentile

-5.4%

Faster asset growth than 29% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-57%

Faster revenue growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Down

$5,392,260

Down $305,062 (-5.4%) from 2021

Net Assets

Down

$4,630,093

Down $621,230 (-12%) from 2021

Liabilities

Up

$762,167

Up $316,168 (+71%) from 2021

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin10th percentile

Revenue

Down

$2,381,533

Down $3,103,817 (-57%) from 2021

Expenses

Up

$3,108,374

Up $776,589 (+33%) from 2021

Net Income

Down

-$726,841

Down $3,880,406 (-123%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$6.0M$4.0M$2.0M$0Assets 2016: $1,952,590Liabilities 2016: $593,449Net Assets 2016: $1,359,1412016Assets 2017: $2,275,075Liabilities 2017: $400,142Net Assets 2017: $1,874,9332017Assets 2018: $3,942,579Liabilities 2018: $1,171,393Net Assets 2018: $2,771,1862018Assets 2019: $3,723,958Liabilities 2019: $716,717Net Assets 2019: $3,007,2412019Assets 2020: $2,488,528Liabilities 2020: $379,594Net Assets 2020: $2,108,9342020Assets 2021: $5,697,322Liabilities 2021: $445,999Net Assets 2021: $5,251,3232021Assets 2022: $5,392,260Liabilities 2022: $762,167Net Assets 2022: $4,630,0932022Assets 2023: $5,674,436Liabilities 2023: $1,374,710Net Assets 2023: $4,299,7262023Assets 2024: $5,166,043Liabilities 2024: $1,277,048Net Assets 2024: $3,888,9952024

Highlighted filing

2022

Assets$5,392,260
Liabilities$762,167
Net Assets$4,630,093
Open 2022 Filing

Operations Trend

Revenue Growth6th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $3,399,696Expenses 2016: $1,920,461Net Income 2016: $1,479,2352016Revenue 2017: $3,684,112Expenses 2017: $3,168,320Net Income 2017: $515,7922017Revenue 2018: $4,214,423Expenses 2018: $3,318,170Net Income 2018: $896,2532018Revenue 2019: $3,904,971Expenses 2019: $3,668,916Net Income 2019: $236,0552019Revenue 2020: $3,341,732Expenses 2020: $4,240,039Net Income 2020: -$898,3072020Revenue 2021: $5,485,350Expenses 2021: $2,331,785Net Income 2021: $3,153,5652021Revenue 2022: $2,381,533Expenses 2022: $3,108,374Net Income 2022: -$726,8412022Revenue 2023: $2,975,790Expenses 2023: $3,368,769Net Income 2023: -$392,9792023Revenue 2024: $2,891,896Expenses 2024: $3,320,697Net Income 2024: -$428,8012024

Highlighted filing

2022

Revenue$2,381,533
Expenses$3,108,374
Net Income-$726,841
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$2,381,533
Mission and Program Overview

Mission

The Memphis Medical District Collaborative (MDCDC) is a community development organization working with anchor institutions to strengthen the connections, communities, and campuses in the Memhis Medical District so they are more vibrant, prosperous, and equitqble.

The Memphis Medical District Collaborative (MDCDC) is a community development organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,185,257$2,887,661▲ $702,404
Pledges and Grants Receivable$3,081,281$1,854,488▼ $1,226,793
Investments Program Related$233,302$296,650▲ $63,348
Other Notes and Loans Receivable, Net$75,000$146,755▲ $71,755
Land, Buildings, and Equipment, Net$14,222$100,526▲ $86,304
Prepaid Expenses and Deferred Charges$17,260$29,180▲ $11,920
Total Assets$5,697,322$5,392,260▼ $305,062
Other Assets Total$91,000$77,000▼ $14,000
Liabilities
Unsecured Notes Loans Payable$191,837$541,476▲ $349,639
Accounts Payable and Accrued Expenses$83,162$143,691▲ $60,529
Deferred Revenue$80,000--
Escrow Account Liability$91,000$77,000▼ $14,000
Total Liabilities$445,999$762,167▲ $316,168
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,101,323$3,718,687▼ $1,382,636
Net Assets With Donor Restrictions$150,000$911,406▲ $761,406
Total Net Assets Fund Balance$5,251,323$4,630,093▼ $621,230
Total Liabilities and Net Assets / Fund Balance$5,697,322$5,392,260▼ $305,062

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$46,650--
Buildings$100,526--
Other Assets Org$77,000--
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rory ThomasPresidentFT$162,500$8,580$171,080
Rory Thomas--$162,500$8,580$171,080
Abigail SheridanVice President, COOFT$137,250$17,848$155,098
Abigail Sheridan--$137,250$17,848$155,098
Ben SchulmanVice President, Real EstateFT$124,375$19,796$144,171
Ben Schulman--$124,375$19,796$144,171

Board Members and Trustees

NameTitle
Dr Reginald CoopwoodChairman
Dr Michael UgwuekeVice - Chair
Dr Kennard BrownDirector
Dr Michelle TaylorDirector
Dr Tracy HallDirector
Mr Doug McGowenDirector
Mr Paul YoungDirector
Mr Pitt HydeDirector
Mr Richard Shadyac JrDirector
Mr Sammie RiarDirector
Mr Scott BlakeDirector
Dr Lewis ReichEx-Officio
Dr Betty Sue McGarveyTreasurer/Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Mydatt Services Inc DBA Block by BlockDistrict Ambassadors7135 Charlotte Pike Suite 100, Nashville, TN 37209-0000$505,480
U3 AdvisorsConsulting Services1735 Market Suite a-443, Philadelphia, PA 19103-0000$323,236
Revenue and Support

Revenue Composition

Contributions and Grants
$2,366,227
Program Service Revenue
$0
Investment Income
$6,306
Other Revenue
$9,000
All Other Contributions
$377,389
Change in Net Assets
$-726,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,784,750
Salaries, Compensation, and Employee Benefits$1,087,545
Grants and Similar Amounts Paid$236,079
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$1,055,578$226,807$0$1,282,385
Other Salaries and Wages$772,609$209,105$0$981,714
Grants to Domestic Orgs$221,329--$221,329
Other Employee Benefits$64,770$17,530$0$82,300
Occupancy$4,883$72,018$0$76,901
Payroll Taxes$18,519$5,012$0$23,531
Other Expenses$0$20,768$0$20,768
Depreciation Depletion$0$18,667$0$18,667
Travel$42$15,243$0$15,285
Grants to Domestic Individuals$14,750--$14,750
Information Technology$0$14,107$0$14,107
Insurance$10,056$0$0$10,056
Advertising$9,690$0$0$9,690
Interest$3,269$97$0$3,366
Office Expenses$0$1,523$0$1,523
Total Functional Expenses$2,375,221$733,153$0$3,108,374
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Peabody Village LLCNew York, NY-Improvement$15,000
Rootstock Wine MerchantsMemphis, TN-Improvement$12,500
SMH PartnersMemphis, TN-Improvement$12,500
400 Main LLCMemphis, TN-Improvement$10,000
Alliance Works Development LLCMemphis, TN-Improvement$10,000
JC Wealth Industries LLCMemphis, TN-Improvement$10,000
High Cotton BreweryMemphis, TN-Improvement$6,000
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
No
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Mdcdc Inc
EIN
81-0729268
Phone
9015524781
Address
656 Madison Avenue, Memphis, TN 38103
Doing Business As
Memphis Medical District Collaborative

Signing Officer

Name
Rory Thomas
Title
President
Phone
9015524781
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rory Thomas
Formed
2015
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
13
Volunteers
0

Preparer

Firm
Banks Finley White & Co
Address
617 37TH STREET SOUTH, BIRMINGHAM, AL 35222
Preparer
Christopher Hearn
Phone
9012746702
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Reviewed at board meeting”

Pt VI, Line 12C

“Provided in employee hand book”

Pt VI, Line 15A

“Salaries approved by board”

Pt VI, Line 15B

“Approved by board”

Pt VI, Line 2

“...”

Form 990, Part IX, Line 24E

“Professional Fees 80853. 35900. 44953. 0.”

Form 990, Part IX, Line 24E

“Postage & mailing 163. 89. 74. 0.”

Form 990, Part IX, Line 24E

“Equipment purchase & maintance 3754. 626. 3128. 0.”

Form 990, Part IX, Line 24E

“Printing & copying 18034. 12845. 5189. 0.”

Form 990, Part IX, Line 24E

“Office subscriptions 35229. 5545. 29684. 0.”

Form 990, Part IX, Line 24E

“Website 12448. 11468. 980. 0.”

Form 990, Part IX, Line 24E

“Security 605. 0. 605. 0.”

Form 990, Part IX, Line 24E

“Office cleaning 3040. 0. 3040. 0.”

Form 990, Part IX, Line 24E

“Food & beverage 11973. 8741. 3232. 0.”

Form 990, Part IX, Line 24E

“Event expense 58500. 58373. 127. 0.”

Form 990, Part IX, Line 24E

“Marketing 9127. 9127. 0. 0.”

Form 990, Part IX, Line 24E

“Program supplies & materials 25702. 25702. 0. 0.”

Form 990, Part IX, Line 24E

“Membership dues & sponsorship 7080. 1500. 5580. 0.”

Form 990, Part IX, Line 24E

“Bad debt 80399. 0. 80399. 0.”

Form 990, Part IX, Line 24E

“Bank fees 278. 0. 278. 0.”

Form 990, Part IX, Line 24E

“Contract services-other 935200. 885662. 49538. 0.”

Financial Statement Notes

Pt IV, Line 2B

“The organization serves as the fiscal agent for the live local program along with four other organizations. The organization will administer funds for this program in a fuduciary capacity for the benefit of the other organizations. The agreements provided for funds up to $290,000. As of December 31, 2021, $199,000 was paid in accordance with the the terms of the agreement and an additional $91,000 in funding was available as of December 31, 2021. The live local program provides loans for qualified students or employees of participating organizations for the purchase, rental or renovation of homes in the medical district. The loans are forgivable over a five year period and if funds are not used for the purpose, they must be returned to the participating organizations.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer/Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice - Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt5Ex-Officio
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/OtherExpensesGrp/Desc2HR Processing & Mgmt fees
IRS990/OtherExpensesGrp/Desc3Employee Enrichment
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IRS990/OtherExpensesGrp/TotalAmt14575
IRS990/OtherExpensesGrp/TotalAmt216594
IRS990/OtherExpensesGrp/TotalAmt320768
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0true
IRS990/RevenueAmt02366226
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part II, Line 10 Description: Miscellaneous 2019: 3729. 2020: 10592. 2021: 5054. Description: Joint Venture Income/(loss) 2020: -13422. 2021: 3276. Description: Business Consulting 2021: 25000.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt04203946
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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,392,260
Liabilities
$762,167
Net assets
$4,630,093
Revenue
$2,381,533
Expenses
$3,108,374
Net income
-$726,841
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.17$1.28$3.89$2.89$3.32$0.43
2023Detailed filing. Detailed filing data is available for this year.$5.67$1.37$4.30$2.98$3.37$0.39
2022Detailed filing. Detailed filing data is available for this year.$5.39$0.76$4.63$2.38$3.11$0.73
2021Detailed filing. Detailed filing data is available for this year.$5.70$0.45$5.25$5.49$2.33$3.15
2020Detailed filing. Detailed filing data is available for this year.$2.49$0.38$2.11$3.34$4.24$0.90
2019Detailed filing. Detailed filing data is available for this year.$3.72$0.72$3.01$3.90$3.67$0.24
2018Detailed filing. Detailed filing data is available for this year.$3.94$1.17$2.77$4.21$3.32$0.90
2017Detailed filing. Detailed filing data is available for this year.$2.28$0.40$1.87$3.68$3.17$0.52
2016Detailed filing. Detailed filing data is available for this year.$1.95$0.59$1.36$3.40$1.92$1.48