Civic Intelligence

Convergence Memphis Inc.

990 • Fiscal year 2022 • EIN 85-4051247

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 07, 2023

Organization Profileconvergencememphis.org
1519 Union Ave STE 320Memphis, TN 38104

(804) 436-5454

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.01x

Higher debt load relative to assets than 63% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.00x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

92nd percentile

61%

Higher net margin than 92% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

95th percentile

$63,750

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 24.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets63rd percentile

Assets

$161,847

No earlier filing loaded for comparison.

Net Assets

$160,930

No earlier filing loaded for comparison.

Liabilities

$917

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin92nd percentile

Revenue

$265,218

No earlier filing loaded for comparison.

Expenses

$104,288

No earlier filing loaded for comparison.

Net Income

$160,930

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$600K$400K$200K$0Assets 2022: $161,847Liabilities 2022: $917Net Assets 2022: $160,9302022Assets 2023: $368,594Liabilities 2023: $4,750Net Assets 2023: $363,8442023Assets 2024: $357,118Liabilities 2024: $0Net Assets 2024: $357,1182024Assets 2025: $457,612Liabilities 2025: $6,179Net Assets 2025: $451,4332025

Highlighted filing

2022

Assets$161,847
Liabilities$917
Net Assets$160,930
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KRevenue 2022: $265,218Expenses 2022: $104,288Net Income 2022: $160,9302022Revenue 2023: $433,666Expenses 2023: $230,752Net Income 2023: $202,9142023Revenue 2024: $18,304Expenses 2024: $25,030Net Income 2024: -$6,7262024Revenue 2025: $265,593Expenses 2025: $171,229Net Income 2025: $94,3642025

Highlighted filing

2022

Revenue$265,218
Expenses$104,288
Net Income$160,930
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$265,218
Mission and Program Overview

Mission

Working together to facilitate new solutions that bring racial equity to homeownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$161,847-
Total Assets$0$161,847▲ $161,847
Liabilities
Accounts Payable and Accrued Expenses-$917-
Total Liabilities$0$917▲ $917
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$160,930-
Total Net Assets Fund Balance$0$160,930▲ $160,930
Total Liabilities and Net Assets / Fund Balance$0$161,847▲ $161,847
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleBaseTotal
Phyllis RobinsonExecutive Director Former$63,750$63,750

Board Members and Trustees

NameTitle
Dorothy CleavesChairperson
Jeremy LessVice-Chairperson
J Martin ReganDirector
Keith TurbettDirector
Manual BoyadjianDirector
Paul YoungDirector
Ralph PerreyDirector
Regina HubbardDirector
Steve OConnorDirector
Ted TownsendDirector
William Jr Chase JrDirector
Doreen GravesExecutive Director
Jeff McEvoySecretary
Brody WambleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$265,083
Program Service Revenue
$0
Investment Income
$135
Other Revenue
$0
All Other Contributions
$265,083
Change in Net Assets
$160,930
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$72,172
Other Expenses$32,116
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$38,250$25,500-$63,750
Fees for Services Management$15,142--$15,142
Conferences and Meetings$4,176$2,784-$6,960
Payroll Taxes$2,926$1,951-$4,877
Other Salaries and Wages$2,127$1,418-$3,545
Insurance$2,102$1,401-$3,503
Fees for Services Accounting$3,150--$3,150
Office Expenses$1,450$925-$2,375
Travel$973--$973
Interest-$13-$13
Total Functional Expenses$70,296$33,992$0$104,288
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“990 reviewed and approved by board of directors before submittal to IRS.”

CEO executive director top management comp Part VI line 15A

“Executive Director salary reviewed and approved by board of directors.”

Other officer or key employee compensation Part VI line 15B

“Key Employees salaries are reviewed and approved by the board of directors.”

Governing documents etc available to public Part VI line 19

“Governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Convergence Memphis Inc
EIN
85-4051247
Address
1519 Union Ave STE 320, Memphis, TN 38104

Signing Officer

Name
Doreen F Graves
Title
Executive Direc
Signed
2023-11-07
Discuss with paid preparer
No

Organization Details

Principal Officer
Dorothy Cleaves
Formed
2020
Legal Domicile
Tn
Voting Board Members
14
Independent Board Members
14
Employees
1

Preparer

Firm
The Numbers CPA
Address
PO Box 301, Irvington, VA 22480
Preparer
Jeff Ewing
Phone
8044365454
Supplemental Narrative

Additional Explanations

Significant program services not listed on prior year return Part III line 2

“Convergence Memphis hosted in Consumer outreach and education seminars as well as industry expert collaborations.”

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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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt063750
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 reviewed and approved by board of directors before submittal to IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Executive Director salary reviewed and approved by board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Key Employees salaries are reviewed and approved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Convergence Memphis hosted in Consumer outreach and education seminars as well as industry expert collaborations.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Significant program services not listed on prior year return Part III line 2
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0true
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt0161847
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0161847
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0265083
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033992
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt070296
IRS990/TotalFunctionalExpensesGrp/TotalAmt0104288
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0917
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0917
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0160930
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt070296
IRS990/TotalReportableCompFromOrgAmt063750
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0135
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0265218
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0161847
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0973
IRS990/TravelGrp/TotalAmt0973
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0https://convergencememphis.org/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Doreen F Graves
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Convergence Memphis Inc
ReturnHeader/Filer/BusinessNameControlTxt0CONV
ReturnHeader/Filer/EIN0854051247
ReturnHeader/Filer/USAddress/AddressLine1Txt01519 Union Ave STE 320
ReturnHeader/Filer/USAddress/CityNm0Memphis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038104
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0The Numbers CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Irvington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022480
ReturnHeader/PreparerPersonGrp/PhoneNum08044365454
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeff Ewing
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-11-15T09:47:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Doreen
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Graves
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$161,847
Liabilities
$917
Net assets
$160,930
Revenue
$265,218
Expenses
$104,288
Net income
$160,930
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.58$0.06$4.51$2.66$1.71$0.94
2024Detailed filing. Detailed filing data is available for this year.$3.57$0.00$3.57$0.18$0.25$0.07
2023Detailed filing. Detailed filing data is available for this year.$3.69$0.05$3.64$4.34$2.31$2.03
2022Detailed filing. Detailed filing data is available for this year.$1.62$0.01$1.61$2.65$1.04$1.61