Overview
What is Rise Memphis Inc?
Rise Memphis Inc is a nonprofit organization situated in Memphis, Tennessee, specifically at 1355 LYNNFIELD STREET 101. Their mission is to empower individuals to achieve self-sufficiency by cultivating both human and financial assets. They accomplish this through various programs, such as Save Up, Goal Card, and the Greater Memphis Financial Empowerment Center. Save Up involves financial education and matched savings for low to moderate-income citizens in Shelby County. Goal Card is an incentive program for 5th to 12th grade students residing in certain zip codes, focusing on financial education, goal setting, mentoring, and academic improvement. The Greater Memphis Financial Empowerment Center, in collaboration with the Shelby County Trustee's Office, offers one-on-one financial counseling, emphasizing debt reduction, savings, and improved credit scores. Rise Memphis Inc also provides a financial education course, Common Cents, as a fee-for-service program to other organizations upon request. Lastly, their Silver Neighbors program empowers older adults to make better financial decisions and offers peer-supported learning opportunities. (114 words)
Official website here: www.risememphis.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Rise Memphis Inc has received a strong 92% rating from Charity Navigator, indicating a high level of accountability and finance management. This score is solely derived from its performance in the Accountability & Finance beacon, demonstrating the organization's commitment to transparency and responsible financial practices.
The organization excels in several areas, including having a fully independent board with a majority of members, which is a crucial factor in ensuring unbiased governance. Furthermore, it has implemented comprehensive policies regarding conflict of interest, whistleblower protections, and document retention, all of which enhance its operational integrity. The financial health is also notable, with a low liabilities to assets ratio of 14.27% and a program expense ratio of 66.52%, showcasing a significant investment in its mission-driven activities.
However, while the high scores reflect robust financial oversight, it is important to consider other performance metrics that may not be represented solely by the Accountability & Finance score. Future evaluations could benefit from additional data on the organization’s program impact and effectiveness in achieving its mission. Overall, Rise Memphis Inc demonstrates a commitment to maintaining high standards in financial governance.
This AI summary has been generated from information found on Charity Navigator.
Is Rise Memphis Inc legitimate?
Rise Memphis Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rise Memphis Inc 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: $143,877
Professional Fundraising Fees: $0
Other Salaries and Wages: $425,899
For more financial information, click here
Official website here: www.risememphis.org
What is the mission statement of Rise Memphis Inc?
Rise Memphis Inc's mission is centered around empowering individuals to achieve self-sufficiency. This is accomplished by building and sustaining both human and financial assets through various programs. One such program is Save Up, which offers financial education and matched savings for asset development to low to moderate-income workers. Another program, Goal Card, focuses on financial education, goal setting, mentoring, and improvement in conduct, attendance, and grades for students living in specific zip codes. The Greater Memphis Financial Empowerment Center, in collaboration with the Shelby County Trustee's Office, provides one-on-one financial counseling with an emphasis on debt reduction, savings, and improved credit scores. Rise Memphis Inc also offers a financial education course, Common Cents, as a fee-for-service program to other organizations. Lastly, Silver Neighbors is a program that empowers older adults to make better financial choices and offers peer-supported learning opportunities.
Official website here: www.risememphis.org
Who is the CEO of Rise Memphis Inc?
Shelia Y Terrell is the Principal Officer of Rise Memphis Inc. The CEO's salary of Rise Memphis Inc is $130,197 and their total compensation is $143,877.
Official website here: www.risememphis.org
What is the revenue of Rise Memphis Inc?
Rise Memphis Inc's revenue in 2022 was $830,097.
Official website here: www.risememphis.org
Who are the executives of Rise Memphis Inc and what are their salaries?
The average compensation at Rise Memphis Inc during 2022 was $37,985. There are 15 employees and 80 volunteers at Rise Memphis Inc.
Here are 27 key members and their salaries (Rise Memphis Inc's CEO's salary is $130,197 and their total compensation is $143,877):
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- Compensation: $130,197
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Official website here: www.risememphis.org
Where can I find the form 990 for Rise Memphis Inc?
Rise Memphis Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.risememphis.org
Learn more at the official website: www.risememphis.org
Mission Statement of Rise Memphis Inc
Rise Memphis Inc, a nonprofit organization, is committed to empowering individuals to become self-sufficient. They achieve this by building and sustaining both human and financial assets. The organization operates various programs aimed at achieving this mission. One such program is Save Up, which involves financial education and matched savings for asset development for low to moderate-income working citizens in Shelby County.
Another program, Goal Card, is an incentive program for 5th to 12th grade students living in specific zip codes. This program focuses on financial education, goal setting, mentoring, and improvement in conduct, attendance, and grades. Rise Memphis Inc also operates the Greater Memphis Financial Empowerment Center in collaboration with the Shelby County Trustee's Office. This center offers one-on-one personal financial counseling, with an emphasis on debt reduction, savings, and improved credit scores.
Common Cents is Rise Memphis Inc's financial education course, provided as a fee-for-service program to other organizations as requested. Lastly, Silver Neighbors is a program that empowers older adults to make better choices about their finances and offers peer-supported learning opportunities. In summary, Rise Memphis Inc's mission is to empower individuals to become self-sufficient by providing various programs that focus on financial education, asset development, and personal financial counseling.
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Impact
October, 2024
Rise Memphis Inc has a significant impact by empowering individuals to achieve self-sufficiency through the development and maintenance of both human and financial assets. By providing programs such as Save Up, the organization offers financial education and matched savings opportunities specifically designed for low to moderate-income working individuals in Shelby County, facilitating asset development.
The Goal Card program incentivizes students from 5th to 12th grade in targeted neighborhoods, promoting financial education, goal-setting, and improvements in academic conduct, attendance, and grades. This approach not only enhances students' understanding of finance but also encourages positive behaviors that contribute to their overall development.
The Greater Memphis Financial Empowerment Center provides personalized financial counseling, focusing on strategies for debt reduction, savings enhancement, and improvements in credit scores. This one-on-one support is crucial for individuals seeking to navigate their financial challenges and achieve better economic outcomes.
Additionally, Rise Memphis offers the Common Cents financial education course to other organizations, extending its reach and impact. The Silver Neighbors program specifically supports older adults, helping them make informed financial choices and engage in peer-supported learning.
Overall, Rise Memphis Inc plays a vital role in fostering financial literacy and empowerment across diverse demographics, leading to increased self-sufficiency and community sustainability in Memphis.
This information is meant to be a general summary of Rise Memphis Inc. 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 2022.
- Investment Income: $68,892
- Gross Receipts: $843,011
Assets and Liabilities:
- Total Assets: $1,702,696
- Total Liabilities: $430,668
- Net Assets: $1,272,028
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Organization Details
Founding Year
1999
Phone
(901) 507-6644Principal Officer
Shelia Y Terrell
Main Address
1355 LYNNFIELD STREET 101, MEMPHIS, TN, 38119
Website
www.risememphis.orgNTEE Category
Code: P40 - Human services
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