Tennessee Prospers FY2023 filing

Memphis, TNUnknown exempt organizationSince 2020 EIN 84-5122962Revenue $500K in FY2023

On file with the IRStnprospers.org411 Monroe Avenue 200 · Memphis, TN

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To collaborate, innovate, and construct solutions to improve the social and economic future of all children and families in Tennessee.

73¢ of each $1 spent went to programs.
$125K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
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 $20K a year · 3% 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
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$125K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
9 mo
of spending, in cash
Looks good: 9.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$500K
-74% vs prior year
Spent
$805K
To programs
73%
Net assets
$614K
By yearFY2020–FY2025
Revenue
$500K
FY2023▼ -74%
Tap a bar for its year
Revenue by fiscal year
FY2020$300K
FY2021$460K
FY2022$1.9M
FY2023$500K
FY2024$600K
FY2025$122K
Expenses
$805K
FY2023▼ -37%
Tap a bar for its year
Expenses by fiscal year
FY2020$164
FY2021$460K
FY2022$1.3M
FY2023$805K
FY2024$823K
FY2025$393K
Net assets
$614K
FY2023▼ -33%
Tap a bar for its year
Net assets by fiscal year
FY2020$300K
FY2021$300K
FY2022$919K
FY2023$614K
FY2024$391K
FY2025$120K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $585K Management & general 20% · $161K Fundraising 7% · $60K

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

3 people listed on the 990; $125K paid to officers and key staff.

Part VII, Section A · reportable compensation
Treasurer
$124,502Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022
Mark Sturgis$148,089$124,502$63,176

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.

See Tennessee Prospers executive salaries →

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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 15aNo

Programs and updates

Builds solutions to improve the social and economic future for Tennessee's children and families.

Questions for Tennessee Prospers

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Provided by the organization

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1 program · $585K · in their own filed words · FY2023
01

advocated for policies that will improve the well-being of Tennessee families from cradle to career.

$585Kprogram 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 1 funder$30K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$500K
Ln 12
Gifts and grantsLn 1h$500K
Money outPt IX
$805K
Ln 25
Programscol B$585K
Managementcol C$161K
Fundraisingcol D$60K
Owns and owesPt X
$614K
net assets · Ln 32
Cash and savingsLn 1–2$615K
Total assetsLn 16$615K
LiabilitiesLn 26$1K
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500K
Total revenueLn 12$500K
Assets in detailPt X, end of year
CashLn 1$615K
Cash and savings togetherLn 1–2$615K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$615K
LiabilitiesLn 26$1K
Net assetsLn 32$614K
OperationsPt I, VI
EmployeesI 57
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$919K$615K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$919K$615K
LiabilitiesLn 26$0$1K
Net assetsLn 32$919K$614K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K$5K
Pay of current officers, directors and key staffLn 5$125K$25K$50K$50K
Other salaries and wagesLn 7$54K$30K$24K
Payroll taxesLn 10$47K$17K$20K$10K
Accounting feesLn 11c$12K$12K
Lobbying feesLn 11d$350K$350K
Other fees for servicesLn 11g$158K$158K$0$0
Office expensesLn 13$29K$29K
OccupancyLn 16$13K$13K
TravelLn 17$3K$3K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$5K$5K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$805K$585K$161K$60K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $122K$393K−$271K$120K 990 PDF
FY2024 $600K$823K−$223K$391K 990 PDF
FY2023 Viewing $500K$805K−$305K$614K 990 PDF
FY2022 $1.9M$1.3M$619K$919K 990 PDF
FY2021 $460K$460K$291$300K 990 PDF
FY2020 $300K$164$300K$300K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $500,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,905,000$500,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,905,000$500,000
I-13 Grants and similar amounts paidPrior year $5,000$5,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $131,422$225,395
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,150,001$574,795
I-18 Total expensesPrior year $1,286,423$805,190
I-19 Revenue less expensesPrior year $618,577−$305,190
Part VI · Governance 2 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $500,000 across 3 lines filed
VIII-1f All other contributions, gifts and grants$500,000
VIII-1h Total contributions, gifts and grants$500,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$500,000
Part IX · Statement of functional expenses $805,190 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $5,000$5,000
IX-5 Pay of current officers, directors and key staffPrograms $24,900 · Management $49,801 · Fundraising $49,801$124,502
IX-7 Other salaries and wagesPrograms $30,391 · Management $23,878$54,269
IX-10 Payroll taxesPrograms $17,251 · Management $19,582 · Fundraising $9,791$46,624
IX-11c Accounting feesManagement $12,038$12,038
IX-11d Lobbying feesPrograms $349,500$349,500
IX-11g Other fees for servicesPrograms $157,909 · Management $0 · Fundraising $0$157,909
IX-13 Office expensesManagement $28,720$28,720
IX-16 OccupancyManagement $13,000$13,000
IX-17 TravelManagement $2,884$2,884
IX-23 InsuranceManagement $5,670$5,670
IX-24 Other expenses (24a–d)Management $5,074$5,074
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $584,951 · Management $160,647 · Fundraising $59,592$805,190
Part X · Balance sheet $614,752 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $918,704$614,752
X-10c Land, buildings and equipment, net$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $918,704$614,752
X-17 Accounts payable and accrued expenses$1,238
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $0$1,238
X-27 Net assets without donor restrictionsStart of year $918,704$613,514
X-32 Total net assets or fund balancesStart of year $918,704$613,514
X-33 Total liabilities and net assetsStart of year $918,704$614,752
Part XI · Reconciliation of net assets $613,514 net assets at year end
XI-1 Total revenue$500,000
XI-2 Total expenses$805,190
XI-3 Revenue less expenses−$305,190
XI-4 Net assets at start of year$918,704
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$613,514

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

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