Form 990 for tax year 2023
Filed by UNIVERSITY OF MEMPHIS FOUNDATION.
Totals
- Total revenue
- $40,949,256
- Total expenses
- $22,804,922
- Contributions and grants received
- $29,105,214
- Grants paid
- $21,569,885
- Program services expenses (Part IX)
- $21,583,011
- Management and general expenses
- $1,221,911
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $21,583,011
Program services were 94.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Listed in Part VII
-
DAVID TATE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
JOHN WILFONG
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
TANYA HART
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
GLYNNA CHRISTIAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
FRED TOWLER
IMMEDIATE PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
SUDHIR AGRAWAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RENE BUSTAMANTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 39 related
-
LAURALAN GRISONI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR BILL HARDGRAVE
DIRECTOR
- Total calculated
- $735,932
- From this org
- $0
- From related orgs
- $711,025
- Other
- $24,907
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $681,025 related
- Bonus
- $0
- Other
- $0 + $30,000 related
- Deferred
- $0 + $1,200 related
- Nontaxable benefits
- $0 + $23,707 related
- Filer's total
- $0 + $735,932 related
-
DAPHNE LARGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR REGINALD PORTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOHN MICKEY ROBINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR DOUGLAS SCARBORO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
HARRY SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MONICA WHARTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
TYREE DANIELS
DIRECTOR (TERM END 8/31/23)
- Total calculated
- $0
- Hours/week
- 1
-
RAAJKUMAR KURAPATI
DIRECTOR (TERM END 8/31/23)
- Total calculated
- $348,557
- From this org
- $0
- From related orgs
- $300,608
- Other
- $47,949
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $262,608 related
- Bonus
- $0 + $35,500 related
- Other
- $0 + $2,500 related
- Deferred
- $0 + $28,417 related
- Nontaxable benefits
- $0 + $19,532 related
- Filer's total
- $0 + $348,557 related
-
HOLLY FORD
FOUNDATION CEO
- Total calculated
- $200,187
- From this org
- $169,553
- From related orgs
- $0
- Other
- $30,634
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $169,553
- Bonus
- $0
- Other
- $0
- Deferred
- $18,536
- Nontaxable benefits
- $12,098
- Filer's total
- $200,187
-
MARK NICELL
FOUNDATION CBO
- Total calculated
- $150,249
- From this org
- $136,192
- From related orgs
- $0
- Other
- $14,057
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $136,192
- Bonus
- $0
- Other
- $0
- Deferred
- $13,457
- Nontaxable benefits
- $600
- Filer's total
- $150,249
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 — 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
The filer's explanations (Part III)
- PART I, LINE 3
- ALL PAID FOUNDATION POSITIONS ARE SUBJECTED TO AN INDEPENDENT SALARY REVIEW BY STATE OF TENNESSEE PERSONNEL IN ACCORDANCE WITH STATE OF TENNESSEE POLICIES AND PROCEDURES. ALL FOUNDATION EMPLOYEES ARE LEASED FROM THE UNIVERSITY OF MEMPHIS ('UNIVERSITY'). THE FOUNDATION BOARD ('BOARD') DETERMINES THE ROLES, RESPONSIBILITIES AND QUALIFICATION REQUIREMENTS FOR EACH LEASED EMPLOYEE AND ASSESSES COMPENSATION BASED ON MARKET DEMANDS FOR SUCH TALENT. EACH FOUNDATION EMPLOYEE IS CATEGORIZED IN A UNIVERSITY PAY BAND BASED ON TASKS, EXPERIENCE AND QUALIFICATION REQUIREMENTS. THE PAY BAND INDICATES A SALARY RANGE WHICH SHOULD BE REFLECTIVE OF THE BOARD'S ASSESSMENT. THE BOARD DETERMINES COMPENSATION FOR THE FOUNDATION CEO.
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
-
$9,474,116
UNIVERSITY AWARDS AND SCHOLARSHIPS
-
$3,798,988
UNIVERSITY SUPPORT, ADVANCEMENT, AND SPECIAL PROJECTS
-
UNIVERSITY GENERAL SUPPORT (SEE PART IV)
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.
-
501(C)(3) · PROVIDE HIGH QUALITY EDUCATIONAL OPPORTUNITIES · TN
-
501(C)(3) · AUXILIARY ENTERPRISES FOR THE DIRECT BENEFIT OF THE UNIVERSITY OF MEMPHIS · TN
-
THE UNIVERSITY OF MEMPHIS RESEARCH FOUNDATION
501(C)(3) · PROMOTE THE EDUCATION AND RESEARCH FUNCTIONS OF THE UNIVERSITY OF MEMPHIS · TN
Directly controlled by THE UNIVERSITY OF MEMPHIS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 6 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511299349301911
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