Skip to content
Nonprofiteer
← VIBRANT MEMPHIS INC

Form 990 for tax year 2024

Filed by VIBRANT MEMPHIS INC.

Totals

Total revenue
$2,961,869
Total expenses
$3,573,668
Contributions and grants received
$2,748,580
Grants paid
$0
Program service revenue
$93,408
Investment income
$117,903
Other revenue
$1,978
Total assets, end of year
$15,176,167
Total liabilities, end of year
$3,279,774
Net assets or fund balances, end of year
$11,896,393
Program services expenses (Part IX)
$2,324,261
Management and general expenses
$970,374
Fundraising expenses
$279,033
Program service expenses (Part III)
$2,324,261

Program services were 65.0% 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.

  • 1e · Government grants (contributions)

    $1,127,527

  • 1f · All other contributions, gifts and grants

    $1,621,053

  • 2a · Program service revenue: SERVICES

    total $63,135 · related or exempt $63,135

  • 2b · Program service revenue: COWORKING FEES

    total $30,273 · related or exempt $30,273

  • 3 · Investment income

    total $242,903 · excluded $242,903

  • 7b · Less cost or other basis and sales expenses

    securities $125,000

  • 7c · Gain or loss

    securities -$125,000

  • 7d · Net gain or loss

    total -$125,000 · excluded -$125,000

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,978 · related or exempt $1,978

  • 11e · Other revenue, total

    $1,978

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $32,751 · program services $8,188 · management and general $8,188 · fundraising $16,375

  • 7 · Other salaries and wages

    total $1,487,329 · program services $903,860 · management and general $417,434 · fundraising $166,035

  • 11b · Fees: legal

    total $36,656 · program services $10,998 · management and general $25,658

  • 11c · Fees: accounting

    total $109,526 · program services $32,858 · management and general $76,668

  • 12 · Advertising and promotion

    total $164,121 · program services $107,588 · fundraising $56,533

  • 13 · Office expenses

    total $44,881 · program services $27,371 · management and general $14,235 · fundraising $3,275

  • 16 · Occupancy

    total $275,508 · program services $166,412 · management and general $82,652 · fundraising $26,444

  • 17 · Travel

    total $62,210 · program services $57,888 · management and general $2,593 · fundraising $1,729

  • 24a · Other expenses: CONTRACTS - PROGRAM REL

    total $1,054,481 · program services $815,232 · management and general $239,249

  • 24b · Other expenses: BUSINESS EXPENSES

    total $148,412 · program services $75,425 · management and general $64,345 · fundraising $8,642

  • 24c · Other expenses: EVENT COSTS

    total $115,238 · program services $115,238

  • 24d · Other expenses: BAD DEBT

    total $26,500 · management and general $26,500

  • 24e · All other expenses

    total $16,055 · program services $3,203 · management and general $12,852

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,919,454 · end of year $12,064,512

  • 3 · Pledges and grants receivable

    beginning of year $1,320,000 · end of year $532,563

  • 4 · Accounts receivable

    beginning of year $40,703 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $225,000 · end of year $150,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,338 · end of year $0

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

    $20,873

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

    $16,609

  • 10c · Land, buildings and equipment, net

    beginning of year $7,094 · end of year $4,264

  • 13 · Investments: program-related

    beginning of year $725,000 · end of year $850,000

  • 15 · Other assets

    beginning of year $1,806,658 · end of year $1,574,828

  • 17 · Accounts payable and accrued expenses

    beginning of year $150,572 · end of year $95,292

  • 25 · Other liabilities

    beginning of year $3,406,483 · end of year $3,184,482

  • 27 · Net assets without donor restrictions

    beginning of year $9,270,156 · end of year $9,695,921

  • 28 · Net assets with donor restrictions

    beginning of year $3,238,036 · end of year $2,200,472

Mission and programs · 2024

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 $2,324,261 · Revenue $30,273

As filed on the 2024 return.

Listed in Part VII

  • ANTHONY YOUNG

    PRESIDENT & CEO

    Total calculated
    $32,750
    From this org
    $32,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • KAYLA GRAFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KOJO MCLENNON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • ALFRED WASHINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SPENCE WILSON JR

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • LISA ROSSMEYER WADE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • AARTI BOWMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • GLORIA BOYLAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • FAYRE CROSSLEY

    CHIEF GRANTS & COMPLIANCE

    Total calculated
    $108,319
    From this org
    $108,319
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • NATHANIEL SMITH

    DIRECTOR OF PROGRAMS

    Total calculated
    $112,545
    From this org
    $112,545
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • RUSSELL INGRAM

    FORMER SECRETARY & COO

    Total calculated
    $138,968
    From this org
    $138,968
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,968
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $138,968

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523219349313757

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

The source document this was parsed from is served over the API, which is where bulk and document access live.