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Nonprofiteer
← MEMPHIS RESEARCH CONSORTIUM INC

Form 990 for tax year 2022

Filed by MEMPHIS RESEARCH CONSORTIUM INC.

Totals

Total revenue
$256,994
Total expenses
$286,136
Contributions and grants received
$256,964
Grants paid
$0
Program service revenue
$0
Investment income
$30
Other revenue
$0
Total assets, end of year
$22,781
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$22,781
Program services expenses (Part IX)
$279,886
Management and general expenses
$6,250
Fundraising expenses
$0
Program service expenses (Part III)
$279,886

Program services were 97.8% 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.

  • 1b · Membership dues

    $256,964

  • 3 · Investment income

    total $30 · excluded $30

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $6,250 · management and general $6,250

  • 14 · Information technology

    total $279,886 · program services $279,886

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $51,923 · end of year $22,781

  • 4 · Accounts receivable

    end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $51,923 · end of year $22,781

Mission and programs · 2022

Mission

NONPROFIT PROMOTION OF RESEARCH NETWORKING AND COLLABORATION.

  • MRC IS DESIGNED TO STRENGTHEN RELATIONS BETWEEN MEMPHIS RESEARCH INSTITUTIONS AND TO FACILITATE COLLABORATION IN RESEARCH, EDUCATION, INSTITUTIONAL STRATEGY, AND OTHER ACTIVITIES OF MUTUAL INTEREST, WHILE DEVELOPING POLICIES AND TACTICS THAT ADVANCE MEMPHIS RESEARCH AS A WHOLE AND ITS ECONOMIC IMPACT ON THE COMMUNITY.

    Expenses $279,886

As filed on the 2022 return.

Listed in Part VII

  • William Hardgrove

    PRESIDENT/CHAIRMAN

    Total calculated
    $650,255
    From this org
    $0
    From related orgs
    $633,199
    Other
    $17,056
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $633,199 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $900 related
    Nontaxable benefits
    $0 + $16,156 related
    Filer's total
    $0 + $650,255 related

  • Anthony Ferrara

    TREASURER

    Total calculated
    $466,411
    From this org
    $0
    From related orgs
    $446,833
    Other
    $19,578
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $446,833 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $900 related
    Nontaxable benefits
    $0 + $18,678 related
    Filer's total
    $0 + $466,411 related

  • Stephanie Beasley

    SECRETARY

    Total calculated
    $139,354
    From this org
    $0
    From related orgs
    $129,819
    Other
    $9,535
    Hours/week
    1 + 40 related

  • Rodney Ballard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter F Buckley

    DIRECTOR

    Total calculated
    $957,293
    From this org
    $0
    From related orgs
    $937,894
    Other
    $19,399
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $937,894 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $900 related
    Nontaxable benefits
    $0 + $18,499 related
    Filer's total
    $0 + $957,293 related

  • James Downing

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Jackson

    DIRECTOR

    Total calculated
    $229,569
    From this org
    $0
    From related orgs
    $220,034
    Other
    $9,535
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,034 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $900 related
    Nontaxable benefits
    $0 + $8,635 related
    Filer's total
    $0 + $229,569 related

  • Bob Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian McDaniel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cindy Wyckoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Approval by the board or compensation committee

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
3 August 2023
IRS schema version
2022v5.0
Source object
202332169349300633

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