Overview
What is Memphis Metropolitan Land Bank Authority?
The Memphis Metropolitan Land Bank Authority is a nonprofit organization situated in Memphis, Tennessee, with the address 1910 MADISON AVE 623, 38104. Their primary mission is to revitalize neglected, vacant, or distressed properties in the Memphis community. By converting these properties into productive use, they aim to decrease blight, raise property values, and enhance the overall quality of life in local neighborhoods. This mission-driven organization operates with a team of six dedicated individuals, working tirelessly to improve their city.
Official website here: www.memphistn.gov/mmlba/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 48% (Zero-Star out of Four Star Rating)
The Memphis Metropolitan Land Bank Authority has earned a Zero-Star rating from Charity Navigator due to its low overall score of 48%. This score reflects significant deficiencies in accountability and financial practices. While the organization has a fully independent board and has received full points for its audit and oversight committee, it has notable gaps in essential policy areas.
Strengths of the organization include having all board members independent and a solid track record on material asset diversion, indicating good governance in those respects. However, the lack of a whistleblower policy and a document retention and destruction policy raises concerns about transparency and accountability. Additionally, the organization does not have its tax form posted on its website, which is a requirement for transparency.
Financially, the organization demonstrates a concerning liabilities-to-assets ratio of 42.42% and a low program expense ratio of 39.85%, both of which suggest potential fiscal instability. Overall, while the Memphis Metropolitan Land Bank Authority has some governance strengths, its financial practices and transparency policies need significant improvement to enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Metropolitan Land Bank Authority legitimate?
Memphis Metropolitan Land Bank Authority is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Metropolitan Land Bank Authority 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: $0
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Other Salaries and Wages: $250,403
For more financial information, click here
Official website here: www.memphistn.gov/mmlba/
What is the mission statement of Memphis Metropolitan Land Bank Authority?
The Memphis Metropolitan Land Bank Authority's mission is centered around transforming vacant, abandoned, foreclosed, or tax-delinquent properties into productive assets. Its primary goal is to reduce blight in neighborhoods, enhance property values, and ultimately improve the quality of life for the community. The organization's activities are directly aligned with this mission, with all revenues and expenses specifically dedicated towards achieving these objectives.
Official website here: www.memphistn.gov/mmlba/
Who is the CEO of Memphis Metropolitan Land Bank Authority?
Evan Collins is the Chair of Memphis Metropolitan Land Bank Authority. The CEO's salary of Memphis Metropolitan Land Bank Authority is $36,498 and their total compensation is $36,498.
Official website here: www.memphistn.gov/mmlba/
What is the revenue of Memphis Metropolitan Land Bank Authority?
Memphis Metropolitan Land Bank Authority's revenue in 2023 was $548,981.
Official website here: www.memphistn.gov/mmlba/
Who are the executives of Memphis Metropolitan Land Bank Authority and what are their salaries?
The average compensation at Memphis Metropolitan Land Bank Authority during 2023 was $41,734. There are 6 employees at Memphis Metropolitan Land Bank Authority.
Here are 13 key members and their salaries (Memphis Metropolitan Land Bank Authority's CEO's salary is $36,498 and their total compensation is $36,498):
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Official website here: www.memphistn.gov/mmlba/
Where can I find the form 990 for Memphis Metropolitan Land Bank Authority?
Memphis Metropolitan Land Bank Authority's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.memphistn.gov/mmlba/
Learn more at the official website: www.memphistn.gov/mmlba/
Mission Statement of Memphis Metropolitan Land Bank Authority
The Memphis Metropolitan Land Bank Authority is dedicated to transforming vacant, abandoned, foreclosed, or tax-delinquent properties into productive use. Their primary objective is to decrease blight, increase property values, and enhance the quality of life in various neighborhoods. By accomplishing this mission, the organization contributes to the overall improvement and revitalization of the communities they serve. All their financial transactions and activities are directly linked to achieving this mission, ensuring their efforts are focused on fulfilling their purpose.
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Impact
July, 2024
The Memphis Metropolitan Land Bank Authority's impact is evident in its efforts to convert vacant, abandoned, foreclosed, or tax delinquent properties into productive use. By doing so, the organization contributes to reducing blight, increasing property values, and ultimately enhancing the quality of life in Memphis neighborhoods. This initiative not only transforms neglected properties but also revitalizes communities, making them more attractive and sustainable for residents and businesses. Through its mission-driven approach, the Memphis Metropolitan Land Bank Authority plays a vital role in driving positive change and progress in the city.
This information is meant to be a general summary of Memphis Metropolitan Land Bank Authority. 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: $501
- Gross Receipts: $548,981
Assets and Liabilities:
- Total Assets: $1,147,954
- Total Liabilities: $487,045
- Net Assets: $660,909
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Organization Details
Founding Year
2015
Phone
(901) 757-3360Principal Officer
Evan Collins
Main Address
1910 MADISON AVE 623, MEMPHIS, TN, 38104
Website
www.memphistn.gov/mmlba/NTEE Category
Code: W11 - Public benefit
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