Overview
What is Soulsville Foundation?
The Soulsville Foundation, located in Memphis, Tennessee, at 926 E McLemore Ave, 38106, is a dedicated nonprofit organization. Its primary mission revolves around preserving and celebrating the cultural legacy of Stax Records, while also empowering youth and nurturing the dreams of future artists. The foundation achieves this by offering educational programs aimed at preparing young individuals for life success and providing a platform for aspiring artists to realize their goals. With a workforce of 64, the Soulsville Foundation is committed to honoring Stax Records' rich history while fostering a new generation of talented musicians.
Official website here: www.soulsvillefoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
The Soulsville Foundation has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 95%, the organization demonstrates strong governance practices, including a fully independent board and comprehensive audit processes. The absence of any material diversion of assets further reflects the integrity of its financial management.
The organization's program expense ratio is notably high at 75.70%, signifying that a significant portion of its resources is directed toward its programs rather than administrative costs. Additionally, the fundraising efficiency ratio of $0.12 indicates effective fundraising practices, allowing the Foundation to maximize its impact with lower costs.
While the data showcases many strengths, potential donors can feel confident in the Soulsville Foundation's operational transparency and financial integrity. Overall, the Foundation stands out as a well-managed nonprofit committed to accountability and delivering substantial community benefits.
This AI summary has been generated from information found on Charity Navigator.
Is Soulsville Foundation legitimate?
Soulsville Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Soulsville 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: $240,950
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,652,306
For more financial information, click here
Official website here: www.soulsvillefoundation.org
What is the mission statement of Soulsville Foundation?
The Soulsville Foundation's mission is centered around preserving the soul of Stax Records, its rich cultural legacy, and fostering the success of young individuals. By doing so, it aims to inspire future artists to achieve their dreams. Additionally, the foundation focuses on educating youth, preparing them for future life success. The operation of the Stax Museum is a significant part of its efforts to enhance the preservation and study of music.
Official website here: www.soulsvillefoundation.org
Who is the CEO of Soulsville Foundation?
Elizabeth Montgomery is the Chairman of Soulsville Foundation. The CEO's salary of Soulsville Foundation is $222,762 and their total compensation is $240,950.
Official website here: www.soulsvillefoundation.org
What is the revenue of Soulsville Foundation?
Soulsville Foundation's revenue in 2023 was $4,187,271.
Official website here: www.soulsvillefoundation.org
Who are the executives of Soulsville Foundation and what are their salaries?
The average compensation at Soulsville Foundation during 2023 was $29,582. There are 64 employees and 100 volunteers at Soulsville Foundation.
Here are 18 key members and their salaries (Soulsville Foundation's CEO's salary is $222,762 and their total compensation is $240,950):
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- Compensation: $222,762
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- Compensation: $154,146
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- Other: $20,899
Official website here: www.soulsvillefoundation.org
Where can I find the form 990 for Soulsville Foundation?
Soulsville Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.soulsvillefoundation.org
Learn more at the official website: www.soulsvillefoundation.org
Mission Statement of Soulsville Foundation
The Soulsville Foundation, a nonprofit organization, is dedicated to preserving and celebrating the rich cultural legacy of Stax Records. Its mission is threefold: firstly, it aims to educate youth, equipping them with the tools necessary for life success. Secondly, it serves as an inspiration for aspiring artists, helping them achieve their dreams. Lastly, the foundation contributes to the preservation and study of music through the operation of the Stax Museum. By fulfilling these objectives, the Soulsville Foundation ensures that the soul of Stax Records continues to resonate and influence generations to come.
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Impact
July, 2024
Soulsville Foundation perpetuates the soul of Stax Records by preserving its rich cultural legacy, educating youth for life success, and inspiring future artists to achieve their dreams. Operating the Stax Museum in Memphis, TN enhances the preservation and study of music, making a significant impact on the community and beyond.
This information is meant to be a general summary of Soulsville 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.
- Investment Income: -$82,465
- Program Service Revenue: $1,441,409
- Gross Receipts: $4,680,172
Assets and Liabilities:
- Total Assets: $9,084,384
- Total Liabilities: $348,467
- Net Assets: $8,735,917
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS AND MEMBERS
Revenue
$585,883
SPONSORSHIPS/PARTNERSH
Revenue
$570,460
PROGRAM INCOME
Revenue
$211,514
OTHER REVENUE
Revenue
$73,552
Organization Details
Founding Year
1997
Phone
(901) 946-2535Principal Officer
Elizabeth Montgomery
Main Address
926 E MCLEMORE AVE, MEMPHIS, TN, 38106
Website
www.soulsvillefoundation.orgNTEE Category
Code: A540 - Arts
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