Memphis Museums INC FY2021 filing

Tax-deductible

Memphis, TN501(c)(3)Arts & CultureEIN 62-0801926Revenue $3.3M in FY2021

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.
67¢ of each $1 spent went to programs.
$192K 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

FY2021 · 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
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$192K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 15.8 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
$1.1M
16% of total assets
Looks good: liabilities are 16% 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
$3.3M
+50% vs prior year
Spent
$2.2M
To programs
67%
Net assets
$6.1M
By yearFY2020–FY2025
Revenue
$3.3M
FY2021▲ +50%
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
$2.2M
FY2021▼ -25%
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
$6.1M
FY2021▲ +40%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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

67 cents of each dollar spent went to programs.

Program services 67% · $1.5M Management & general 29% · $636K Fundraising 4% · $78K

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

22 people listed on the 990; $192K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$192,200Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Immediate Past President
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Friends President
$0Pt VII · Sec A
Friends 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 · $1.5M · in their own filed words · FY2020
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…

$755Kprogram 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.

$563Kprogram expense
03

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

$153Kprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$3.3M
Ln 12
Gifts and grantsLn 1h$2.2M
Fees for servicesLn 2g$590K
Other incomeLn 4–11$370K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.5M
Managementcol C$636K
Fundraisingcol D$78K
Owns and owesPt X
$6.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
22
listed · VII A
PaidVII A1
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.2M
Government grantsLn 1e$216K
Fees for servicesLn 2g$590K
Investment incomeLn 3$85K
Other incomeLn 4–11$370K
Gains on assetsLn 7$61K
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$2.4M
SavingsLn 2$489K
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$3.8M
Land, buildings, equipmentLn 10c$414K
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.1M
Net assetsLn 32$6.1M
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 FY21End FY21
Cash and savingsLn 1–2$1.5M$2.9M
InvestmentsLn 11–13$2.9M$3.8M
Land, buildings, equipmentLn 10c$400K$414K
Total assetsLn 16$5.2M$7.2M
LiabilitiesLn 26$886K$1.1M
Net assetsLn 32$4.4M$6.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$200K$200K
Other salaries and wagesLn 7$831K$593K$177K$61K
Other employee benefitsLn 9$60K$45K$13K$1K
Payroll taxesLn 10$73K$41K$28K$5K
Other fees for servicesLn 11g$176K$45K$121K$10K
Advertising and promotionLn 12$53K$53K
TravelLn 17$2K$1K$252
Depreciation, depletion and amortizationLn 22$82K$64K$19K
InsuranceLn 23$56K$23K$32K$279
Other expenses (24a–d)Ln 24$620K$573K$46K$1K
All other expensesLn 24e$33K$33K$378$37
Total functional expensesLn 25$2.2M$1.5M$636K$78K

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 Viewing $3.3M$2.2M$1.1M$6.1M 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $3,293,679 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $938,106$2,247,863
I-9 Program service revenuePrior year $874,689$590,275
I-10 Investment incomePrior year $50,811$85,464
I-11 Other revenuePrior year $337,352$370,077
I-12 Total revenuePrior year $2,200,958$3,293,679
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 $1,628,173$1,163,994
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,269,541$1,021,340
I-18 Total expensesPrior year $2,897,714$2,185,334
I-19 Revenue less expensesPrior year −$696,756$1,108,345
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 $3,293,679 across 10 lines filed
Lines not itemized here account for $116,137 of total revenue; see the IRS return.
VIII-1b Membership dues$149,859
VIII-1e Government grants$216,158
VIII-1f All other contributions, gifts and grants$1,881,846
VIII-1h Total contributions, gifts and grants$2,247,863
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $590,275$590,275
VIII-3 Investment incomeExcluded from tax $24,907$24,907
VIII-6 Net rental income or lossExcluded from tax $256,568$256,568
VIII-7 Net gain or loss on sales of assetsExcluded from tax $60,557$60,557
VIII-8 Net income from fundraising eventsExcluded from tax −$2,628−$2,628
VIII-12 Total revenueRelated to mission $706,412 · Unrelated business $0 · Excluded from tax $339,404$3,293,679
Part IX · Statement of functional expenses $2,185,334 across 11 lines filed
IX-5 Pay of current officers, directors and key staffManagement $200,000$200,000
IX-7 Other salaries and wagesPrograms $593,113 · Management $177,225 · Fundraising $60,847$831,185
IX-9 Other employee benefitsPrograms $45,211 · Management $13,010 · Fundraising $1,386$59,607
IX-10 Payroll taxesPrograms $40,610 · Management $27,937 · Fundraising $4,655$73,202
IX-11g Other fees for servicesPrograms $45,034 · Management $120,765 · Fundraising $9,703$175,502
IX-12 Advertising and promotionPrograms $52,844$52,844
IX-17 TravelPrograms $1,356 · Management $252$1,608
IX-22 Depreciation, depletion and amortizationPrograms $63,538 · Management $18,693$82,231
IX-23 InsurancePrograms $23,448 · Management $31,806 · Fundraising $279$55,533
IX-24 Other expenses (24a–d)Programs $573,475 · Management $45,519 · Fundraising $1,477$620,471
IX-24e All other expensesPrograms $32,736 · Management $378 · Fundraising $37$33,151
IX-25 Total functional expensesPrograms $1,471,365 · Management $635,585 · Fundraising $78,384$2,185,334
Part X · Balance sheet $7,243,926 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $993,480$2,391,414
X-2 Savings and temporary cash investmentsStart of year $551,978$489,025
X-3 Pledges and grants receivableStart of year $14,270$19,089
X-4 Accounts receivableStart of year $14,019$13,799
X-8 Inventories for sale or useStart of year $134,097$64,053
X-9 Prepaid expenses and deferred chargesStart of year $243,061$73,747
X-10c Land, buildings and equipment, netStart of year $400,412$414,201
X-11 Publicly traded securitiesStart of year $2,894,611$3,778,598
X-16 Total assetsStart of year $5,245,928$7,243,926
X-17 Accounts payable and accrued expensesStart of year $236,885$80,037
X-19 Deferred revenueStart of year $339,025$423,743
X-26 Total liabilitiesStart of year $886,150$1,124,260
X-27 Net assets without donor restrictionsStart of year $762,438$1,965,196
X-28 Net assets with donor restrictionsStart of year $3,597,340$4,154,470
X-32 Total net assets or fund balancesStart of year $4,359,778$6,119,666
X-33 Total liabilities and net assetsStart of year $5,245,928$7,243,926
Part XI · Reconciliation of net assets $6,119,666 net assets at year end
XI-1 Total revenue$3,293,679
XI-2 Total expenses$2,185,334
XI-3 Revenue less expenses$1,108,345
XI-4 Net assets at start of year$4,359,778
XI-5 Net unrealized gains (losses) on investments$651,543
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,119,666

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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