Memphis Museums INC FY2020 filing

Tax-deductible

Memphis, TN501(c)(3)Arts & CultureEIN 62-0801926Revenue $2.2M in FY2020

On file with the IRSmemphismuseums.org3050 Central Ave, 38111-3316 · Memphis, TNTax-exempt since Jan 1969Publicly supported — 509(a)(2)

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To inspire people to learn how history, science, technology, and nature shape the mid-south.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
$56K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $441K a year · 11% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$56K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $27K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$886K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
Spent
$2.9M
To programs
63%
Net assets
$4.4M
By yearFY2020–FY2025
Revenue
$2.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$3.3M
FY2022$4.6M
FY2023$4.2M
FY2024$4.0M
FY2025$5.2M
Expenses
$2.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$2.2M
FY2022$2.4M
FY2023$3.4M
FY2024$4.3M
FY2025$5.7M
Net assets
$4.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$4.4M
FY2021$6.1M
FY2022$7.9M
FY2023$8.8M
FY2024$8.8M
FY2025$8.6M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1969.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $1.8M Management & general 23% · $661K Fundraising 14% · $416K

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

25 people listed on the 990; $56K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Director of Museums
$56,121Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Past President/ Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

William Thompson’s $210K as Executive Director Till 12/12/25 is at the 86th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
William Thompson$209,635$201,640————
Kevin Thompson——$177,778$199,221$192,200—
Steve Pike—————$56,121

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Inspires learning how history, science, tech, and nature shape the Mid-South.

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Provided by the organization

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3 programs · $1.8M · in their own filed words · FY2019
01

Memphis museum education programs -- giant screen theater featuring history, natural history, and science films; lichterman nature center featuring indoor exhibits and outdoor habitats with environmental education programs; pink palace education school and general audience programs; coon creek science center for school groups evacavating…

$912Kprogram expense
02

Pink palace exhibitions -- permanent exhibitions about the cultural history and natural history of the mid-south. TEMPORARY/TRAVELING exhibitions about science, history, and natural history. 89,863 persons benefited.

$685Kprogram expense
03

Curatorial services -- conservation and preservation of over 60,000 artifacts and objects in support of education programs and exhibitions. 294,317 persons benefited.

$224Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$27K
See all 3 funders →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$938K
Fees for servicesLn 2g$875K
Other incomeLn 4–11$337K
Money outPt IX
$2.9M
Ln 25
Programscol B$1.8M
Managementcol C$661K
Fundraisingcol D$416K
Owns and owesPt X
$4.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$5.2M
LiabilitiesLn 26$886K
PeoplePt VI, VII
25
listed · VII A
PaidVII A1
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$938K
Government grantsLn 1e$312K
Fundraising eventsLn 1c$25K
Fees for servicesLn 2g$875K
Investment incomeLn 3$51K
Other incomeLn 4–11$337K
Gains on assetsLn 7−$41K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$993K
SavingsLn 2$552K
Cash and savings togetherLn 1–2$1.5M
InvestmentsLn 11–13$2.9M
Land, buildings, equipmentLn 10c$400K
Total assetsLn 16$5.2M
LiabilitiesLn 26$886K
Net assetsLn 32$4.4M
OperationsPt I, VI
EmployeesI 556
VolunteersI 61,320
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.7M$1.5M
InvestmentsLn 11–13$3.0M$2.9M
Land, buildings, equipmentLn 10c$482K$400K
Total assetsLn 16$5.7M$5.2M
LiabilitiesLn 26$623K$886K
Net assetsLn 32$5.1M$4.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$126K$126K
Other salaries and wagesLn 7$1.3M$793K$357K$155K
Other employee benefitsLn 9$88K$56K$23K$10K
Payroll taxesLn 10$109K$58K$40K$11K
Other fees for servicesLn 11g$144K$74K$47K$23K
Advertising and promotionLn 12$200K$200K
OccupancyLn 16$105K$92K$13K
TravelLn 17$21K$18K$3K$699
InterestLn 20$4K$1K$3K
Depreciation, depletion and amortizationLn 22$82K$61K$21K
InsuranceLn 23$53K$44K$8K$1K
Other expenses (24a–d)Ln 24$612K$381K$34K$196K
All other expensesLn 24e$48K$43K$6K
Total functional expensesLn 25$2.9M$1.8M$661K$416K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.2M$5.7M−$537K$8.6M 990 PDF
FY2024 $4.0M$4.3M−$281K$8.8M 990 PDF
FY2023 $4.2M$3.4M$784K$8.8M 990 PDF
FY2022 $4.6M$2.4M$2.3M$7.9M 990 PDF
FY2021 $3.3M$2.2M$1.1M$6.1M 990 PDF
FY2020 Viewing $2.2M$2.9M−$697K$4.4M 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 FY2020 990 (6 parts)
Part I · Summary $2,200,958 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,272,086$938,106
I-9 Program service revenuePrior year $1,382,340$874,689
I-10 Investment incomePrior year $52,532$50,811
I-11 Other revenuePrior year $522,575$337,352
I-12 Total revenuePrior year $3,229,533$2,200,958
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 $1,467,372$1,628,173
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,682,352$1,269,541
I-18 Total expensesPrior year $3,149,724$2,897,714
I-19 Revenue less expensesPrior year $79,809−$696,756
Part VI · Governance 21 of 21 board members independent, 1 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,200,958 across 11 lines filed
Lines not itemized here account for $105,449 of total revenue; see the IRS return.
VIII-1b Membership dues$224,688
VIII-1c Fundraising events$24,704
VIII-1e Government grants$311,638
VIII-1f All other contributions, gifts and grants$377,076
VIII-1h Total contributions, gifts and grants$938,106
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $874,689$874,689
VIII-3 Investment incomeExcluded from tax $91,684$91,684
VIII-6 Net rental income or lossExcluded from tax $188,133$188,133
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$40,873−$40,873
VIII-8 Net income from fundraising eventsExcluded from tax $43,770$43,770
VIII-12 Total revenueRelated to mission $980,138 · Unrelated business $0 · Excluded from tax $282,714$2,200,958
Part IX · Statement of functional expenses $2,897,714 across 13 lines filed
IX-5 Pay of current officers, directors and key staffManagement $125,981$125,981
IX-7 Other salaries and wagesPrograms $793,344 · Management $357,282 · Fundraising $154,716$1,305,342
IX-9 Other employee benefitsPrograms $55,708 · Management $22,606 · Fundraising $9,742$88,056
IX-10 Payroll taxesPrograms $57,875 · Management $39,901 · Fundraising $11,018$108,794
IX-11g Other fees for servicesPrograms $74,261 · Management $46,550 · Fundraising $22,782$143,593
IX-12 Advertising and promotionPrograms $199,623$199,623
IX-16 OccupancyPrograms $91,863 · Fundraising $13,373$105,236
IX-17 TravelPrograms $18,182 · Management $2,523 · Fundraising $699$21,404
IX-20 InterestPrograms $1,233 · Management $3,102$4,335
IX-22 Depreciation, depletion and amortizationPrograms $60,702 · Management $21,312$82,014
IX-23 InsurancePrograms $44,020 · Management $7,874 · Fundraising $1,324$53,218
IX-24 Other expenses (24a–d)Programs $381,112 · Management $34,272 · Fundraising $196,391$611,775
IX-24e All other expensesPrograms $42,686 · Fundraising $5,657$48,343
IX-25 Total functional expensesPrograms $1,820,609 · Management $661,403 · Fundraising $415,702$2,897,714
Part X · Balance sheet $5,245,928 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,052,643$993,480
X-2 Savings and temporary cash investmentsStart of year $598,266$551,978
X-3 Pledges and grants receivableStart of year $294,872$14,270
X-4 Accounts receivableStart of year $48,257$14,019
X-8 Inventories for sale or useStart of year $123,088$134,097
X-9 Prepaid expenses and deferred chargesStart of year $126,347$243,061
X-10c Land, buildings and equipment, netStart of year $482,426$400,412
X-11 Publicly traded securitiesStart of year $2,988,842$2,894,611
X-16 Total assetsStart of year $5,714,741$5,245,928
X-17 Accounts payable and accrued expensesStart of year $223,001$236,885
X-19 Deferred revenueStart of year $328,903$339,025
X-26 Total liabilitiesStart of year $622,517$886,150
X-27 Net assets without donor restrictionsStart of year $1,233,760$762,438
X-28 Net assets with donor restrictionsStart of year $3,858,464$3,597,340
X-32 Total net assets or fund balancesStart of year $5,092,224$4,359,778
X-33 Total liabilities and net assetsStart of year $5,714,741$5,245,928
Part XI · Reconciliation of net assets $4,359,778 net assets at year end
XI-1 Total revenue$2,200,958
XI-2 Total expenses$2,897,714
XI-3 Revenue less expenses−$696,756
XI-4 Net assets at start of year$5,092,224
XI-5 Net unrealized gains (losses) on investments−$35,690
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,359,778

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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