Overview
What is New Memphis Institute?
The New Memphis Institute is a nonprofit organization situated in Memphis, Tennessee, specifically at 516 Tennessee Street 301. Their mission revolves around fostering a prosperous and thriving Memphis by nurturing, inspiring, and retaining talent through various programs. By empowering individuals, they aim to strengthen the city's foundations. Their flagship initiative is a three-and-a-half-day leadership development program, delivered in partnership with The Center for Creative Leadership, which has benefited over 1,000 executive-level leaders. These leaders subsequently contribute to the community by serving on boards and committees, advising fellow initiatives, engaging at events, and attracting top talent to Memphis. With a dedicated workforce of 24 individuals, New Memphis Institute serves as a catalyst for positive transformation in the community.
Official website here: www.newmemphis.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 94%, Four-Star out of Four Star rating.
The New Memphis Institute has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The overall score is rooted in a high accountability rating, showcasing effective governance practices, including an entirely independent board and rigorous financial oversight measures.
Strengths of the organization include a notable program expense ratio of 90.90%, indicating that the majority of funds are directed toward its programs rather than administrative costs. Additionally, the organization demonstrates excellent fundraising efficiency, with only $0.05 spent to raise a dollar, highlighting effective resource management. However, a notable limitation is the absence of a whistleblower policy, which could enhance its governance framework.
Overall, the New Memphis Institute stands out for its strong financial health and commitment to transparency, making it a reliable choice for donors looking to support impactful nonprofit initiatives. Nevertheless, addressing the missing whistleblower policy could further strengthen its governance practices.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about New Memphis Institute?
100% of 44 reviewers on Facebook recommend the New Memphis Institute. Here's a summary of their insights:
Many supporters express their enthusiasm for the organization, highlighting its focus on the future of Memphis. They appreciate the vision and efforts being made to foster positive change in the community. The overall sentiment reflects a strong belief in the mission of the nonprofit, with individuals feeling optimistic about what New Memphis Institute is doing for the city.
Overall, the reviews indicate that the nonprofit is well-regarded and seen as a valuable contributor to enhancing Memphis. The commitment to improving the city resonates deeply with those who support it, suggesting that the organization successfully engages and inspires its audience.
This AI summary has been generated from reviews found on Facebook.
Is New Memphis Institute legitimate?
New Memphis Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Memphis Institute 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: $316,362
Professional Fundraising Fees: $0
Other Salaries and Wages: $904,454
For more financial information, click here
Official website here: www.newmemphis.org
What is the mission statement of New Memphis Institute?
The New Memphis Institute works towards fostering a prosperous and vibrant community by nurturing, engaging, and retaining talent. This is achieved by delivering programs that empower and inspire individuals, enabling them to enhance the city's strengths and drive its progress. The organization offers a leadership development intensive, a three-and-a-half day training experience, which has been completed by over a thousand executive-level leaders. These leaders, now a significant force behind the New Memphis Institute, contribute to the city's development by serving on boards and committees, offering guidance on community projects, participating in events, and attracting top talent to the community.
Official website here: www.newmemphis.org
Who is the CEO of New Memphis Institute?
Anna Mullins Ellis is the Trustee of New Memphis Institute. The CEO's salary of New Memphis Institute is $158,148 and their total compensation is $169,157.
Official website here: www.newmemphis.org
What is the revenue of New Memphis Institute?
New Memphis Institute's revenue in 2022 was $2,528,139.
Official website here: www.newmemphis.org
Who are the executives of New Memphis Institute and what are their salaries?
The average compensation at New Memphis Institute during 2022 was $50,867. There are 24 employees and 1000 volunteers at New Memphis Institute.
Here are 35 key members and their salaries (New Memphis Institute's CEO's salary is $158,148 and their total compensation is $169,157):
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Official website here: www.newmemphis.org
Where can I find the form 990 for New Memphis Institute?
New Memphis Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newmemphis.org
Learn more at the official website: www.newmemphis.org
Mission Statement of New Memphis Institute
The New Memphis Institute aims to establish a prosperous and vibrant Memphis by fostering, engaging, and retaining talent. This nonprofit organization achieves this goal by delivering programs that empower and inspire individuals, thereby enhancing the city's strengths. By doing so, the New Memphis Institute serves as a catalyst for positive transformation within any community, particularly Memphis.
A key component of the New Memphis Institute's mission is its Leadership Development Intensive program. This program involves a three-and-a-half day training experience, held twice a year in collaboration with the Center for Creative Leadership. This initiative has empowered over 1,000 executive-level business and civic leaders, enabling them to better understand and utilize their strengths for the betterment of Memphis. These leaders, who form the backbone of the New Memphis Institute, contribute to the city's progress by serving on boards and committees, advising fellows, attending Celebrate What's Right luncheons, and attracting top talent to Memphis.
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Impact
July, 2024
New Memphis Institute's impact is significant in fostering a prosperous and vital community in Memphis. Through its leadership development programs and initiatives, over 1,000 executive-level business and civic leaders have been empowered to understand and utilize their strengths for the betterment of Memphis. These leaders serve on boards, advise fellows on community projects, engage in events, and work towards attracting and retaining top talent in the city. This collective effort has positively impacted over 1,000 individuals, making New Memphis Institute a driving force for positive transformation in the community.
This information is meant to be a general summary of New Memphis Institute. 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: $188,401
- Program Service Revenue: $505,399
- Gross Receipts: $2,567,641
Assets and Liabilities:
- Total Assets: $5,198,582
- Total Liabilities: $1,677,144
- Net Assets: $3,521,438
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$505,399
Organization Details
Founding Year
1984
Phone
(901) 527-4625Principal Officer
Anna Mullins Ellis
Main Address
516 TENNESSEE STREET 301, MEMPHIS, TN, 38103
Website
www.newmemphis.orgNTEE Category
Code: R30Z - Civil rights
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