Overview
What is Memphis Center City Development Corporation?
The Memphis Center City Development Corporation is a nonprofit organization with a mission to administer various programs aimed at supporting private development projects. Their key initiatives include managing the Development loan program and the public improvements program, as well as providing assistance to privately-led development projects. By doing so, they aim to contribute positively to the city's growth and development.
Official website here: www.downtownmemphiscommission.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Memphis Center City Development Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid score of 77%. This rating is primarily determined by its Accountability & Finance metrics, indicating a strong emphasis on responsible financial management and transparency within the organization. For FY2023, the organization demonstrated a commitment to governance with a board composed entirely of independent members and maintained a low ratio of liabilities to assets.
The organization excelled in several key areas, including having a comprehensive conflict of interest policy, a whistleblower policy, and the consistent documentation of board meeting minutes. These factors contribute positively to its accountability practices, indicating a well-structured governance model that is likely to foster trust among stakeholders and the community.
Nevertheless, while the financial performance is commendable with a high program expense ratio, focusing entirely on one beacon score may limit the overall assessment of the organization's impact and effectiveness in achieving its mission. Continued efforts to enhance broader performance measures could further bolster their evaluation in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Center City Development Corporation legitimate?
Memphis Center City Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Center City Development Corporation 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:
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Official website here: www.downtownmemphiscommission.com
What is the mission statement of Memphis Center City Development Corporation?
The Memphis Center City Development Corporation's mission is centered around assisting private development projects. Specifically, they oversee various programs such as the Development loan program and the public improvements program, all aimed at aiding private development endeavors. Their primary objective is to administer these programs effectively, thereby contributing to the successful completion of private development projects.
Official website here: www.downtownmemphiscommission.com
Who is the CEO of Memphis Center City Development Corporation?
Paul Young is the CEO of Memphis Center City Development Corporation The CEO's salary of Memphis Center City Development Corporation is $0 and their total compensation is $0.
Official website here: www.downtownmemphiscommission.com
What is the revenue of Memphis Center City Development Corporation?
Memphis Center City Development Corporation's revenue in 2023 was $1,738,728.
Official website here: www.downtownmemphiscommission.com
Who are the executives of Memphis Center City Development Corporation and what are their salaries?
Here are 11 key members and their salaries (Memphis Center City Development Corporation's CEO's salary is $0 and their total compensation is $0):
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Official website here: www.downtownmemphiscommission.com
Where can I find the form 990 for Memphis Center City Development Corporation?
Memphis Center City Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.downtownmemphiscommission.com
Learn more at the official website: www.downtownmemphiscommission.com
Mission Statement of Memphis Center City Development Corporation
Memphis Center City Development Corporation, in its mission, focuses on aiding private development projects. This nonprofit organization administers various programs, including the Development loan program and the public improvements program, all designed to support private development initiatives. Its role is to assist these projects, contributing to the growth and development of the private sector.
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Impact
October, 2024
The Memphis Center City Development Corporation plays a crucial role in enhancing the urban landscape and supporting economic growth in Memphis, TN. By administering the Development loan program and the public improvements program, it effectively facilitates private development projects, driving investment and revitalization in the city.
Through its initiatives, the organization contributes to community improvement by fostering collaboration between various stakeholders, including developers, local businesses, and city agencies. This strategic assistance not only supports individual projects but also enhances the overall quality of life in the Memphis community, promoting a vibrant and sustainable environment for residents and visitors alike.
This information is meant to be a general summary of Memphis Center City Development Corporation. 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.
- Investment Income: $307,456
- Program Service Revenue: $7,542
- Gross Receipts: $1,738,728
Assets and Liabilities:
- Total Assets: $10,785,679
- Total Liabilities: $287,626
- Net Assets: $10,498,053
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Fees
Revenue
$7,542
Organization Details
Founding Year
1978
Principal Officer
Paul Young
NTEE Category
Code: S31 - Community improvement
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