Overview
What is Memphis Music Archives Inc?
Memphis Music Archives Inc, operating under the name Memphis Listening Lab, is a nonprofit organization situated in Memphis, Tennessee. With a mission to foster appreciation, study, and research of popular music, particularly from Memphis, this organization promotes the rich musical heritage of the area. Employing a team of two dedicated individuals, Memphis Music Archives Inc serves as a platform to celebrate and preserve the musical legacy of the city, beyond its borders.
Official website here: www.memphislisteninglab.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 61% (Two-Star out of Four Star rating)
Memphis Music Archives Inc has received a Two-Star rating from Charity Navigator, which reflects a score of 61%. This rating indicates that while the organization shows strength in areas such as having a fully independent board and a solid program expense ratio of 85.89%, there are significant weaknesses in its accountability and finance practices. Key policies, including those regarding conflicts of interest and whistleblower protections, are missing, which raises concerns about governance and transparency.
The organization demonstrates a commitment to programmatic efforts, as evidenced by its high program expense ratio, but its financial health appears challenging with a liabilities to assets ratio of 139.97%. This suggests that the organization may have more liabilities than it can cover with its assets, which could impact its long-term sustainability. Additionally, the absence of a posted tax form on its website could limit public oversight and trust.
Overall, while Memphis Music Archives Inc has strengths in board independence and program spending, the lack of essential policies and concerning financial ratios highlight areas that require improvement. Donors and stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Music Archives Inc legitimate?
Memphis Music Archives Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Music Archives 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $49,164
For more financial information, click here
Official website here: www.memphislisteninglab.org
What is the mission statement of Memphis Music Archives Inc?
The Memphis Music Archives Inc is dedicated to fostering the enjoyment, exploration, and scholarly analysis of popular music, extending beyond the city of Memphis. Their mission encompasses promoting the understanding and appreciation of this musical genre through research and study. The organization's activities are geared towards advocating for the enjoyment and exploration of popular music, serving as a catalyst for both enthusiasts and scholars alike.
Official website here: www.memphislisteninglab.org
Who is the CEO of Memphis Music Archives Inc?
Jim Thompson is the Director of Memphis Music Archives Inc.
Official website here: www.memphislisteninglab.org
What is the revenue of Memphis Music Archives Inc?
Memphis Music Archives Inc's revenue in 2022 was $66,500.
Official website here: www.memphislisteninglab.org
Who are the executives of Memphis Music Archives Inc and what are their salaries?
The average compensation at Memphis Music Archives Inc during 2022 was $24,582. There are 2 employees and 4 volunteers at Memphis Music Archives Inc.
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Official website here: www.memphislisteninglab.org
Where can I find the form 990 for Memphis Music Archives Inc?
Memphis Music Archives Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memphislisteninglab.org
Learn more at the official website: www.memphislisteninglab.org
Mission Statement of Memphis Music Archives Inc
Memphis Music Archives Inc, as a nonprofit organization, is committed to fostering the appreciation, investigation, and understanding of popular music originating from Memphis and beyond. Its primary objective is to promote enjoyment, study, and research in this field. By doing so, the organization aims to contribute to the broader musical landscape, providing valuable insights and experiences for music enthusiasts and scholars alike.
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Impact
August, 2024
Memphis Music Archives Inc plays a significant role in preserving and promoting the rich musical heritage of Memphis and beyond. Through its mission to promote the enjoyment, study, and research of popular music, the organization contributes to the preservation of cultural history and heritage for future generations. By archiving and documenting musical achievements and legacies, Memphis Music Archives Inc helps to celebrate the artistic contributions of musicians from the region, highlighting their impact on the music industry. This effort not only fosters an appreciation for music but also serves as a valuable resource for researchers, historians, and music enthusiasts interested in exploring the diverse and influential music scene of Memphis.
This information is meant to be a general summary of Memphis Music Archives 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.
- Program Service Revenue: $3,490
- Gross Receipts: $66,500
Assets and Liabilities:
- Total Assets: $698,809
- Total Liabilities: $686,223
- Net Assets: $12,586
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENTS
Revenue
$3,490
Organization Details
Founding Year
2019
Phone
(901) 240-7834Principal Officer
Jim Thompson
Main Address
1350 CONCOURSE AVE STE 269, MEMPHIS, TN, 38104
Website
www.memphislisteninglab.orgNTEE Category
Code: A54 - Arts
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