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Nonprofiteer
← MEMPHIS YMCA SUPPORT CORPORATION

Form 990 for tax year 2023

Filed by MEMPHIS YMCA SUPPORT CORPORATION.

Totals

Total revenue
$124,000
Total expenses
$508,389
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$124,000
Total assets, end of year
$13,476,936
Total liabilities, end of year
$13,545,923
Net assets or fund balances, end of year
-$68,987
Program services expenses (Part IX)
$508,389
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$508,389

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.

  • 6a · Gross rents

    real property $124,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $124,000

  • 6d · Net rental income or loss

    total $124,000 · related or exempt $124,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $132,775 · program services $132,775

  • 22 · Depreciation, depletion and amortization

    total $375,614 · program services $375,614

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,865,911 · end of year $420,084

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

    $13,150,051

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

    $360,737

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $12,789,314

  • 15 · Other assets

    beginning of year $12,168,957 · end of year $267,538

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,506,457 · end of year $3,318,038

  • 24 · Unsecured notes and loans payable

    beginning of year $10,213,009 · end of year $10,227,885

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $315,402 · end of year -$68,987

Mission and programs · 2023

Mission

THE YMCA SUPPORT CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF MEMPHIS & THE MID-SOUTH. SPECIFICALLY AS THEY RELATE TO THE CONSTRUCTION OF A NEW YMCA FACILITY IN THE WHITEHAVEN COMMUNITY OF MEMPHIS.

Activities or mission (Part I)

THE YMCA SUPPORT CORPORATION WAS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF MEMPHIS & THE MID-SOUTH. SPECIFICALLY AS THEY RELATE TO THE CONSTRUCTION AND RENTAL OF A NEW YMCA FACILITY IN THE WHITEHAVEN COMMUNITY OF MEMPHIS.

  • RENTAL OF WHITEHAVEN YMCA

    Expenses $508,389 · Revenue $124,000

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

Listed in Part VII

  • Cynthia Jone

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Armstead Ward

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terrance Grigsby

    CEO

    Total calculated
    $322,987
    From this org
    $0
    From related orgs
    $280,659
    Other
    $42,328
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,659 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,484 related
    Nontaxable benefits
    $0 + $7,844 related
    Filer's total
    $0 + $322,987 related

  • Anthony Norris

    CFO

    Total calculated
    $244,644
    From this org
    $0
    From related orgs
    $211,023
    Other
    $33,621
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,023 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,776 related
    Nontaxable benefits
    $0 + $7,845 related
    Filer's total
    $0 + $244,644 related

  • James Stock

    SECRETARY

    Total calculated
    $262,680
    From this org
    $0
    From related orgs
    $229,660
    Other
    $33,020
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,660 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $27,430 related
    Nontaxable benefits
    $0 + $5,590 related
    Filer's total
    $0 + $262,680 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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 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
2023
Filed
17 October 2024
IRS schema version
2023v5.1
Source object
202412969349301351

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