Memphis Research Consortium INC: Nonprofit Profile, Financials & Form 990 (EIN 27-0497927)

Revenue by fiscal year
FY2020	$135K
FY2021	$10K
FY2022	$257K
FY2023	$229K

Expenses by fiscal year
FY2020	$276K
FY2021	$291K
FY2022	$286K
FY2023	$224K

Net assets by fiscal year
FY2020	$333K
FY2021	$52K
FY2022	$23K
FY2023	$29K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

99%

Program services 99% · $222K Management & general 1% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation

William Hardgrave

President/Chairman

$0Pt VII · Sec A

Anthony Ferrara

Treasurer

$0Pt VII · Sec A

Stephanie Beasley

Secretary

$0Pt VII · Sec A

Rodney Ballard

Director

$0Pt VII · Sec A

Peter F Buckley

Director

$0Pt VII · Sec A

James Downing

Director

$0Pt VII · Sec A

Bob Jones

Director

$0Pt VII · Sec A

Brian McDaniel

Director

$0Pt VII · Sec A

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects researchers and fosters collaboration to advance scientific discovery.

Questions for Memphis Research Consortium INC

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Provided by the organization

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1 program · $222K · in their own filed words · FY2023

01

MRC is designed to strengthen relations between memphis research institutions and to facilitate collaboration in research, education, institutional strategy, and other activities of mutual interest, while developing policies and tactics that advance memphis research as a whole and its economic impact on the community.

$222Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$229K

Ln 12

Gifts and grantsLn 1h$229K

Investment incomeLn 3$122

Money outPt IX

$224K

Ln 25

Programscol B$222K

Managementcol C$2K

Owns and owesPt X

$29K

net assets · Ln 32

Cash and savingsLn 1–2$29K

Total assetsLn 16$29K

LiabilitiesLn 26$0

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$229K

Investment incomeLn 3$122

Total revenueLn 12$229K

Assets in detailPt X, end of year

CashLn 1$29K

Cash and savings togetherLn 1–2$29K

Total assetsLn 16$29K

LiabilitiesLn 26$0

Net assetsLn 32$29K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$23K	$29K
Total assetsLn 16	$23K	$29K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$23K	$29K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$2K		$2K
Other fees for servicesLn 11g	$15		$15
Information technologyLn 14	$222K	$222K
Total functional expensesLn 25	$224K	$222K	$2K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest Viewing	$229K	$224K	$6K	$29K	990 PDF
FY2022	$257K	$286K	−$29K	$23K	990 PDF
FY2021	$10K	$291K	−$281K	$52K	990 PDF
FY2020	$135K	$276K	−$141K	$333K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2023 990 (6 parts)

Part I · Summary $229,413 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $256,964$229,291

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $30$122

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $256,994$229,413

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $286,136$223,534

I-18 Total expensesPrior year $286,136$223,534

I-19 Revenue less expensesPrior year −$29,142$5,879

Part VI · Governance 10 of 10 board members independent, no flags

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $229,413 across 4 lines filed

VIII-1b Membership dues$229,291

VIII-1h Total contributions, gifts and grants$229,291

VIII-3 Investment incomeExcluded from tax $122$122

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $122$229,413

Part IX · Statement of functional expenses $223,534 across 3 lines filed

IX-11c Accounting feesManagement $2,000$2,000

IX-11g Other fees for servicesManagement $15$15

IX-14 Information technologyPrograms $221,519$221,519

IX-25 Total functional expensesPrograms $221,519 · Management $2,015 · Fundraising $0$223,534

Part X · Balance sheet $28,660 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $22,781$28,660

X-4 Accounts receivable$0

X-16 Total assetsStart of year $22,781$28,660

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $22,781$28,660

X-32 Total net assets or fund balancesStart of year $22,781$28,660

X-33 Total liabilities and net assetsStart of year $22,781$28,660

Part XI · Reconciliation of net assets $28,660 net assets at year end

XI-1 Total revenue$229,413

XI-2 Total expenses$223,534

XI-3 Revenue less expenses$5,879

XI-4 Net assets at start of year$22,781

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$28,660

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Memphis Research Consortium INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Memphis Research Consortium INC

By the numbers

Filing history

Schedules filed Part IV