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Nonprofiteer
← MEMPHIS CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by MEMPHIS CHAMBER FOUNDATION.

Totals

Total revenue
$266,946
Total expenses
$311,534
Contributions and grants received
$179,500
Grants paid
$0
Program service revenue
$87,446
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,833,165
Total liabilities, end of year
$172,693
Net assets or fund balances, end of year
$1,660,472
Program services expenses (Part IX)
$311,534
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$311,534

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

    $179,500

  • 2a · Program service revenue: MID-SOUTH QUALITY PROD

    total $83,121 · related or exempt $83,121

  • 2b · Program service revenue: PROGRAM PARTNERSHIP RE

    total $4,325 · related or exempt $4,325

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $5,407 · program services $5,407

  • 16 · Occupancy

    total $1,429 · program services $1,429

  • 17 · Travel

    total $1,755 · program services $1,755

  • 22 · Depreciation, depletion and amortization

    total $4,376 · program services $4,376

  • 24a · Other expenses: CONSULTING

    total $295,772 · program services $295,772

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,875 · program services $1,875

  • 24c · Other expenses: MISCELLANEOUS

    total $920 · program services $920

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $311,566 · end of year $329,229

  • 3 · Pledges and grants receivable

    beginning of year $63,601 · end of year $1,481,834

  • 4 · Accounts receivable

    end of year $19,848

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

    $27,452

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

    $25,198

  • 10c · Land, buildings and equipment, net

    beginning of year $6,630 · end of year $2,254

  • 17 · Accounts payable and accrued expenses

    beginning of year $145,545 · end of year $172,693

  • 27 · Net assets without donor restrictions

    beginning of year $61,752 · end of year $17,164

  • 28 · Net assets with donor restrictions

    beginning of year $174,500 · end of year $1,643,308

Mission and programs · 2022

Mission

THE ADVANCEMENT OF EDUCATION OR SCIENCE LESSENING THE BURDENS OF GOVERNMENT; LESSENING OF NEIGHBORHOOD TENSIONS; ELIMINATION OF PREJUDICE AND DISCRIMINATION, AND COMBATING COMMUNITY DETERIORATION. ALSO, PROMOTION OF THE ADVANCEMENT AND DIFFUSION OF KNOWLEDGE AND UNDERSTANDING OF ECONOMICS, FINANCE, EDUCATION AND TRAINING, SCIENCE AND TECHNOLOGY AS THEY RELATE TO THE COMMUNITY, THE REGION, AND THEIR PROBLEMS AND OPPORTUNITIES, THROUGH 1) THE UNDERTAKING OF STUDIES AND RESEARCH, COMPILATION OF RESULTS, AND PUBLICATION THEROF THROUGH ANY APPROPRIATE MEDIA; 2) THE CONDUCT OF TRAINING COURSES, SEMINARS, DISCUSSION GROUPS, FORUMS, PANELS, OR LECTURES, AND THE LIKE; 3) ANY ACTIVITY WHICH TENDS TO PROMOTE UNDERSTANDING, UNIFICATION, OR IMPROVED RELATIONSHIP BETWEEN DIFFERENT ECONOMIC OR ETHNIC GROUPS.

  • MID-SOUTH QUALITY PRODUCTIVITY CENTER IS A COLLABORATION BETWEEN THE FOUNDATION AND SOUTHWEST TENNESSEE COMMUNITY COLLEGE THAT PROVIDES EDUCATION DESIGNED TO HELP BUSINESSES ACHIEVE QUALITY PRODUCTIVITY.

    Expenses $311,534 · Revenue $83,121

  • ECONOMIC DEVELOPMENT OF THE STANDARD METROPOLITAN STATISTICAL AREA FOCUSING ON SHELBY COUNTY, TN. SERVICE TO THE GENERAL BUSINESS COMMUNITY TO DEVELOP A STRONG ECONOMIC CLIMATE FOR THE AREA SERVICED.

    Revenue $83,825

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dot Neale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • George Hilliard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gregory Duckett

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tish Boyd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leigh Shockey

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ted Ferris

    TREASURER

    Total calculated
    $232,755
    From this org
    $0
    From related orgs
    $197,198
    Other
    $35,557
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $197,198 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,216 related
    Nontaxable benefits
    $0 + $15,341 related
    Filer's total
    $0 + $232,755 related

  • Jason Hood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Greg Barnes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Beverly Robertson

    PRESIDENT

    Total calculated
    $338,424
    From this org
    $0
    From related orgs
    $297,177
    Other
    $41,247
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $297,177 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,138 related
    Nontaxable benefits
    $0 + $11,109 related
    Filer's total
    $0 + $338,424 related

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313199349310586

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