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Nonprofiteer
← MEMPHIS CENTER CITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by MEMPHIS CENTER CITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,345,075
Total expenses
$1,445,086
Contributions and grants received
$96,700
Grants paid
$823,070
Program service revenue
$57,301
Investment income
$582,756
Other revenue
$608,318
Total assets, end of year
$12,465,355
Total liabilities, end of year
$1,948,801
Net assets or fund balances, end of year
$10,516,554
Program services expenses (Part IX)
$1,445,086
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,445,086

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $96,700

  • 2a · Program service revenue: Loan Fees

    total $57,301 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $582,756 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $210,444

  • 6c · Rental income or loss

    real property $210,444

  • 6d · Net rental income or loss

    total $210,444 · related or exempt $210,444

  • 11d · All other revenue

    total $397,874 · related or exempt $397,874 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $397,874

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $823,070 · program services $823,070

  • 20 · Interest

    total $86,163 · program services $86,163 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $85,559 · program services $85,559 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $73,861 · program services $73,861 · management and general $0 · fundraising $0

  • 24a · Other expenses: Office expense

    total $70,617 · program services $70,617 · management and general $0 · fundraising $0

  • 24b · Other expenses: Planning & development

    total $190,674 · program services $190,674 · management and general $0 · fundraising $0

  • 24c · Other expenses: Bad Debt

    total $9,885 · program services $9,885 · management and general $0 · fundraising $0

  • 24d · Other expenses: Professional fees

    total $105,257 · program services $105,257 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,677,342 · end of year $5,178,968

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $6,976 · end of year $17,773

  • 7 · Other notes and loans receivable

    beginning of year $1,907,004 · end of year $2,021,149

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,566 · end of year $57,905

  • 10a · Land, buildings and equipment: cost or other basis

    $4,653,098

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,908,233

  • 10c · Land, buildings and equipment, net

    beginning of year $2,436,131 · end of year $2,744,865

  • 12 · Investments: other securities

    beginning of year $2,169,779 · end of year $2,444,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,573 · end of year $23,711

  • 23 · Secured mortgages and notes payable

    beginning of year $1,498,497 · end of year $1,925,090

  • 27 · Net assets without donor restrictions

    beginning of year $10,605,728 · end of year $10,516,554

Mission and programs · 2023

Mission

Assist Private Development Projects

  • To assist Private Development projects.

    Expenses $1,445,086 · Revenue $1,345,075

As filed on the 2023 return.

Listed in Part VII

  • Tanja Mitchell

    Chairperson

    Total calculated
    $0
    Hours/week
    4

  • Dacquiri Baptiste

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Williams Brack

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Carl Person

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Victoria Young

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Angel Price

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Kevin Brewer

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Patrick Hillard

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Surayyah Hansan

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Lisa Brown-Tucker

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Chandell Ryan

    President/CEO

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • Malone Park Commons LLC

    $150,000

    Special

  • 400 Main LLC

    $80,000

    Storefront

  • Bradley D Barnett

    $60,000

    Storefront

  • The Rowland Group

    $60,000

    Storefront

  • Servicemasters by Stratos-v

    $60,000

    Storefront

  • Floyd Tyler IRR Trust dba Preserver Ptr

    $60,000

    Storefront

  • RS Lewis Funeral Homes LLC

    $40,000

    Storefront

  • SMH Partners GP

    $40,000

    Storefront

  • Spotlight Productions

    $40,000

    Storefront

  • East Court Condo Owners Assoc

    $34,489

    Storefront

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Downtown Memphis Commission

    Govt Agency · To promote, manage & Cordinate redevelopment of the center city area · TN

    Directly controlled by Board of Directors

  • Memphis Center City Revenue Finance Corporation

    Industrial Dev Board · To maintain & Increase employment opportunities by promoting commerce · TN

    Directly controlled by Board of Directors

  • Downtown Parking Authority

    Parking Authority · To initiate Strategic planning for existing & future parking facilities · TN

    Directly controlled by Board of Directors

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349312828

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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