Overview
What is Generous Life Foundation?
Generous Life Foundation, operating under the name Memphis Dream Center, is a nonprofit organization situated in Cordova, Tennessee. With a focus on under-resourced and under-served neighborhoods, they run an after-school program called READ2LEAD, catering to Title 1 schools. This program aims to bridge academic and opportunity gaps for K-6th grade children, offering high-quality academic and enrichment opportunities and promoting family engagement within and beyond school hours. The organization's mission is to positively impact urban areas like Memphis by providing community service, relief, and education to the underprivileged, distressed, and poor. With a dedicated workforce of 38 individuals, Memphis Dream Center strives to create a safe, life-giving environment for its beneficiaries.
Official website here: www.memphisdreamcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star Rating
The Generous Life Foundation, operating as the Memphis Dream Center, has achieved a commendable Four-Star rating from Charity Navigator, reflecting its commitment to accountability and financial health. The charity's overall score is derived solely from its Accountability & Finance metrics, which stand at an impressive 90%. This rating indicates that the organization is effectively managing its resources and is transparent in its operations.
One of the key strengths of the Memphis Dream Center is its strong governance structure, boasting a board composed entirely of independent members. This governance is coupled with robust financial practices, including a high program expense ratio of 76.61%, which shows that a significant portion of its funding is directed towards its programs and services. The organization also has policies in place for conflict of interest, whistleblowing, and asset management, further enhancing its accountability.
However, there are notable limitations in the organization’s reporting. The absence of documented board meeting minutes, missing tax forms on its website, and a lack of a document retention policy are critical areas where the organization could improve. Addressing these gaps would not only strengthen its accountability framework but also bolster stakeholder trust. Overall, the Memphis Dream Center reflects strong financial health while having opportunities for improvement in its governance documentation.
This AI summary has been generated from information found on Charity Navigator.
Is Generous Life Foundation legitimate?
Generous Life Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Generous Life Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $83,431
Professional Fundraising Fees: $180
Other Salaries and Wages: $586,205
For more financial information, click here
Official website here: www.memphisdreamcenter.com
What is the mission statement of Generous Life Foundation?
The Generous Life Foundation, operating as Memphis Dream Center, is dedicated to making a positive impact in urban areas, specifically focusing on Memphis. Their mission is to offer community service effectively and provide relief and education to underprivileged individuals who are poor, distressed, and in need. Through their initiatives, they aim to enhance the lives of these individuals, striving to bridge the gap in academic opportunities and overall well-being in a secure and nurturing environment. One of their programs, Read2Lead, serves children from K-6th grade attending Title 1 schools in underserved neighborhoods. This program offers high-quality academic and enrichment opportunities, in addition to family engagement, working tirelessly to close the academic and opportunity gaps for these children.
Official website here: www.memphisdreamcenter.com
What is the revenue of Generous Life Foundation?
Generous Life Foundation's revenue in 2023 was $1,135,088.
Official website here: www.memphisdreamcenter.com
Who are the executives of Generous Life Foundation and what are their salaries?
The average compensation at Generous Life Foundation during 2023 was $13,666. There are 49 employees and 600 volunteers at Generous Life Foundation.
Here are 7 key members and their salaries:
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Official website here: www.memphisdreamcenter.com
Where can I find the form 990 for Generous Life Foundation?
Generous Life Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.memphisdreamcenter.com
Learn more at the official website: www.memphisdreamcenter.com
Mission Statement of Generous Life Foundation
The Generous Life Foundation D/B/A Memphis Dream Center is committed to making a positive impact on urban communities, specifically Memphis, by offering effective community service and providing relief and education to the underprivileged, distressed, and poor. Their mission is twofold: to serve children in under-resourced and under-served neighborhoods through high-quality academic and enrichment opportunities, and to foster family engagement in and out of school time settings. This is achieved through the Read2Lead after-school program, which serves K-6th grade students attending Title 1 schools. The program aims to close the academic and opportunity gaps for these children in a safe, life-giving environment. The Generous Life Foundation D/B/A Memphis Dream Center serves 130 children through this program, providing them with a much-needed support system and opportunities to succeed.
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Impact
October, 2024
The Generous Life Foundation significantly impacts the Memphis area by directly addressing the needs of under-resourced communities through effective community service initiatives. One of its key programs, Read2Lead, serves K-6th grade children in Title 1 schools located in underserved neighborhoods. This program provides high-quality academic and enrichment opportunities, aiming to bridge the academic and opportunity gaps that many children face.
In a safe and nurturing environment, Read2Lead has served 130 children, fostering family engagement and promoting educational success beyond just classroom learning. By focusing on relief and education for those who are poor, distressed, and underprivileged, the foundation plays a crucial role in uplifting the community and empowering the next generation in Memphis and beyond.
This information is meant to be a general summary of Generous Life Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Gross Receipts: $1,135,088
Assets and Liabilities:
- Total Assets: $202,994
- Total Liabilities: $29,040
- Net Assets: $173,954
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Organization Details
Founding Year
1998
Principal Officer
Kelli Carson
Website
www.memphisdreamcenter.comNTEE Category
Code: P20 - Human services
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