Form 990 for tax year 2023

Totals

Total revenue

$952,639

Total expenses

$1,180,297

Contributions and grants received

$950,000

Grants paid

$757,385

Program service revenue

$0

Investment income

$2,639

Other revenue

$0

Total assets, end of year

$503,077

Total liabilities, end of year

$253,701

Net assets or fund balances, end of year

$249,376

Program services expenses (Part IX)

$1,074,321

Management and general expenses

$105,976

Fundraising expenses

$0

Program service expenses (Part III)

$1,074,321

Program services were 91.0% 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.

Mission and programs · 2023

• MEMPHIS TOMORROW IS AN ASSOCIATION OF CEOS OF MEMPHIS' LARGEST BUSINESSES WORKING WITH GOVERNMENT AND CIVIC SECTORS TO PROMOTE OPPORTUNITY AND QUALITY OF LIFE FOR ALL MEMPHIANS. AREAS OF WORK INCLUDE DIGITAL EQUITY, EARLY CHILDHOOD DEVELOPMENT, K-12 EDUCATION, ECONOMIC DEVELOPMENT, PUBLIC SAFETY, AMONG OTHERS.

  Expenses $316,936

• MEMPHIS TOMORROW MADE A FOUR-YEAR GRANT TO YOUTH VILLAGES FOR IMPLEMENTING THEIR MEMPHIS ALLIES PROGRAM TO REDUCE GUN VIOLENCE.

  Expenses $282,385 · Grants $282,385

• MEMPHIS TOMORROW FOUNDED AND HAS CONTINUED TO INVEST IN MEMPHIS BRAND INITIATIVE WITH THE GOAL TO PROMOTE AWARENESS OF MEMPHIS/SHELBY COUNTY AS A GREAT DESTINATION FOR TOURISTS, TALENT AND COMMERCE. THE EFFORT HAS BEEN ENORMOUSLY SUCCESSFUL BY ALL METRICS AND CONTINUES TO EXCEED GOALS AND EXPECTATIONS.

  Expenses $250,000 · Grants $250,000

• MEMPHIS TOMORROW CONTRIBUTED FUNDING TO TENNESSEANS FOR QUALITY EARLY EDUCATION FOR PURPOSES AF ADVANCING STATE POLICIES AND PRACTICES THAT ENSURE ALL TENNESSEE CHILDREN BIRTH THROUGH 3RD GRADE GET THE HIGH QUALITY EARLY EDUCATION THEY NEED TO POWER OUR STATE'S FUTURE. FURTHER, THE ORGANIZATION PARTNERED WITH THE STRICKLAND ADMINISTRATION TO ACHIEVE A DIGITAL EQUITY INITIATIVE VIA AN 800 MILLION PRIVATE SECTOR INVESTMENT IN A FIBER NETWORK THROUGHOUT THE CITY OF MEMPHIS WITH PRIORITY GOING TO LOW INCOME COMMUNITIES.

  Expenses $225,000 · Grants $225,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• YOUTH VILLAGES INC

  $282,385

  OPERATIONS

• MEMPHIS BRAND INITIATIVE

  $250,000

  OPERATIONS

• MEMPHIS SHELBY CRIME COMM

  $175,000

  OPERATIONS

• TN FOR QUALITY EARLY EDUCATION

  $50,000

  OPERATIONS

Provenance

Return type

form_990

Tax year

2023

Filed

3 October 2024

IRS schema version

2023v5.0

Source object

202422849349302117

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