Totals
- Total revenue
- $2,621,131
- Total expenses
- $3,611,345
- Contributions and grants received
- $2,216,406
- Grants paid
- $0
- Program service revenue
- $183,257
- Investment income
- $192,129
- Other revenue
- $29,339
- Total assets, end of year
- $16,065,247
- Total liabilities, end of year
- $3,557,055
- Net assets or fund balances, end of year
- $12,508,192
- Program services expenses (Part IX)
- $2,403,504
- Management and general expenses
- $937,709
- Fundraising expenses
- $270,132
- Program service expenses (Part III)
- $2,403,504
Program services were 66.6% 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.
-
1e · Government grants (contributions)
$1,002,626
-
1f · All other contributions, gifts and grants
$1,213,780
-
2a · Program service revenue: COWORKING FEES
total $107,462 · related or exempt $107,462
-
2b · Program service revenue: SERVICES
total $75,795 · related or exempt $75,795
-
3 · Investment income
total $209,109 · excluded $209,109
-
7a · Gross sales of assets other than inventory
securities $133,020
-
7b · Less cost or other basis and sales expenses
securities $150,000
-
7c · Gain or loss
securities -$16,980
-
7d · Net gain or loss
total -$16,980 · excluded -$16,980
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $29,339 · related or exempt $29,339
-
11e · Other revenue, total
$29,339
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $325,679 · program services $81,420 · management and general $160,525 · fundraising $83,734
-
7 · Other salaries and wages
total $1,005,690 · program services $717,402 · management and general $212,258 · fundraising $76,030
-
11b · Fees: legal
total $48,191 · program services $14,457 · management and general $33,734
-
11c · Fees: accounting
total $94,876 · program services $28,463 · management and general $66,413
-
12 · Advertising and promotion
total $204,992 · program services $132,441 · fundraising $72,551
-
13 · Office expenses
total $25,525 · program services $14,239 · management and general $9,244 · fundraising $2,042
-
16 · Occupancy
total $286,857 · program services $177,356 · management and general $83,057 · fundraising $26,444
-
17 · Travel
total $36,875 · program services $28,961 · management and general $6,192 · fundraising $1,722
-
24a · Other expenses: CONTRACTS - PROGRAM REL
total $1,130,760 · program services $1,030,824 · management and general $99,936
-
24b · Other expenses: BAD DEBT
total $178,000 · management and general $178,000
-
24c · Other expenses: BUSINESS EXPENSES
total $165,796 · program services $78,120 · management and general $80,067 · fundraising $7,609
-
24d · Other expenses: EVENT COSTS
total $94,887 · program services $94,887
-
24e · All other expenses
total $13,217 · program services $4,934 · management and general $8,283
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,935,132 · end of year $11,919,454
-
3 · Pledges and grants receivable
beginning of year $3,288,000 · end of year $1,320,000
-
4 · Accounts receivable
beginning of year $100,000 · end of year $40,703
-
7 · Other notes and loans receivable
beginning of year $225,000 · end of year $225,000
-
9 · Prepaid expenses and deferred charges
beginning of year $20,928 · end of year $21,338
-
10a · Land, buildings and equipment: cost or other basis
$20,873
-
10b · Land, buildings and equipment: accumulated depreciation
$13,779
-
10c · Land, buildings and equipment, net
beginning of year $9,924 · end of year $7,094
-
13 · Investments: program-related
beginning of year $675,000 · end of year $725,000
-
15 · Other assets
beginning of year $2,034,399 · end of year $1,806,658
-
17 · Accounts payable and accrued expenses
beginning of year $170,574 · end of year $150,572
-
25 · Other liabilities
beginning of year $3,619,403 · end of year $3,406,483
-
27 · Net assets without donor restrictions
beginning of year $10,546,068 · end of year $9,270,156
-
28 · Net assets with donor restrictions
beginning of year $2,952,338 · end of year $3,238,036
Mission and programs · 2023
Mission
ACT AS THE HUB FOR ENTREPRENEURIAL SUPPORT IN MEMPHIS, CREATING 500 COMPANIES AND SERVING 1000 ENTREPRENEURS IN 10 YEARS THROUGH ATTRACTION AND DEVELOPMENT OF TALENT, CONVERTING IDEAS TO BUSINESSES, ATTRACTING CAPITAL, AND ASSISTING IN CUSTOMER ACQUISITION.
Activities or mission (Part I)
CREATES A JUST, INCLUSIVE, AND GROWING REGIONAL ECONOMY BY DRIVING STRATEGY AND MEASURING IMPACT AMONG A NETWORK OF PARTNERS TO INCREASE SUPPORT TO NEW AND EXISTING ENTREPRENEURS IN CONVERTING IDEAS TO BUSINESSES, DEVELOPING TALENT, ATTRACTING CAPITAL, AND ACQUIRING CUSTOMERS.
-
PROVIDING A FULL-RANGE OF ENTREPRENEURIAL SUPPORT SERVICES INCLUDING MENTORSHIP AND EXECUTIVES IN RESIDENCE, BOOT CAMP TRAINING, INCUBATION AND COWORKING, ATTRACTION OF NEW DEBT AND EQUITY CAPITAL, NETWORKING AND EVENTS, CORPORATE AND CUSTOMER ENGAGEMENT. WORKING WITH PARTNERS TO STRENGTHEN THE ENTREPRENEURIAL ECOSYSTEM SO THAT AVAILABLE RESOURCES ARE DEPLOYED EFFECTIVELY. SERVICES DESIGNED TO BRING BENEFITS OF ECONOMIC DEVELOPMENT TO ALL RESIDENTS OF MEMPHIS EQUITABLY, WITH DIVERSITY AND INCLUSION A CRITICAL PART OF ALL THAT EPICENTER DOES.
Expenses $2,403,504 · Revenue $107,462
As filed on the 2023 return.
Listed in Part VII
-
Jessica TaveauJESSICA TAVEAU
FORMER PRESIDENT & CEO
- Total calculated
- $167,469
- From this org
- $167,469
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,469
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $167,469
-
Russell IngramRUSSELL INGRAM
SECRETARY & COO
- Total calculated
- $158,210
- From this org
- $158,210
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,210
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $158,210
-
David WaddellDAVID WADDELL
DEPARTING CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Shea FlinnSHEA FLINN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kayla GraffKAYLA GRAFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kojo McLennonKOJO MCLENNON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Alfred WashingtonALFRED WASHINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Spence Wilson JrSPENCE WILSON JR
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Philip Spinosa JrPHILIP SPINOSA JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Lisa Rossmeyer WadeLISA ROSSMEYER WADE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Aarti BowmanAARTI BOWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gloria BoylandGLORIA BOYLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Fayre CrossleyFAYRE CROSSLEY
CHIEF GRANTS & COMPLIANCE OFFICER
- Total calculated
- $105,469
- From this org
- $105,469
- From related orgs
- $0
- Other
- $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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
EPICENTER MEMPHIS FORMATION FUND
INVESTING IN EARLY-STAGE COMPANIES · TN · income -$16,980 · assets $2,930,135
Directly controlled by VIBRANT MEMPHIS INC
-
EPICENTER - INNOVA CAPITAL LLC
GP OF EPICENTER MEMPHIS CO-INVESTMENT FUND, I LP · TN · income $0 · assets $1,549,401
Directly controlled by VIBRANT MEMPHIS INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443189349309674
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