Tennessee Prospers FY2024 filing

Memphis, TNUnknown exempt organizationSince 2020 EIN 84-5122962Revenue $600K in FY2024

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.

65¢ of each $1 spent went to programs.
$148K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
65%
of spending
Fine: 65% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$148K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
7 mo
of spending, in cash
Looks good: 6.7 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
$72K
16% of total assets
Looks good: liabilities are 16% 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
$600K
+20% vs prior year
Spent
$823K
To programs
65%
Net assets
$391K
By yearFY2020–FY2025
Revenue
$600K
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2020$300K
FY2021$460K
FY2022$1.9M
FY2023$500K
FY2024$600K
FY2025$122K
Expenses
$823K
FY2024▲ +2%
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
$391K
FY2024▼ -36%
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 FY2024 Form 990 · see the original

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You’re viewing the FY2024 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

65 cents of each dollar spent went to programs.

Program services 65% · $535K Management & general 26% · $218K Fundraising 9% · $70K

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; $148K paid to officers and key staff.

Part VII, Section A · reportable compensation
Treasurer
$148,089Pt 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 · $535K · in their own filed words · FY2024
01

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

$535Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$600K
Ln 12
Gifts and grantsLn 1h$600K
Money outPt IX
$823K
Ln 25
Programscol B$535K
Managementcol C$218K
Fundraisingcol D$70K
Owns and owesPt X
$391K
net assets · Ln 32
Cash and savingsLn 1–2$463K
Total assetsLn 16$463K
LiabilitiesLn 26$72K
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$600K
Total revenueLn 12$600K
Assets in detailPt X, end of year
CashLn 1$463K
Cash and savings togetherLn 1–2$463K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$463K
LiabilitiesLn 26$72K
Net assetsLn 32$391K
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 FY24End FY24
Cash and savingsLn 1–2$615K$463K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$615K$463K
LiabilitiesLn 26$1K$72K
Net assetsLn 32$614K$391K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$90$90
Pay of current officers, directors and key staffLn 5$148K$30K$59K$59K
Other salaries and wagesLn 7$46K$26K$20K
Payroll taxesLn 10$52K$19K$22K$11K
Accounting feesLn 11c$7K$7K
Lobbying feesLn 11d$310K$310K
Other fees for servicesLn 11g$150K$150K$0$0
Advertising and promotionLn 12$875$875
Office expensesLn 13$12K$12K
OccupancyLn 16$12K$12K
TravelLn 17$6K$6K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$72K$72K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$823K$535K$218K$70K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $122K$393K−$271K$120K 990 PDF
FY2024 Viewing $600K$823K−$223K$391K 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $600,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500,000$600,000
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 $500,000$600,000
I-13 Grants and similar amounts paidPrior year $5,000$90
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $225,395$245,876
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $574,795$576,833
I-18 Total expensesPrior year $805,190$822,799
I-19 Revenue less expensesPrior year −$305,190−$222,799
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 $600,000 across 3 lines filed
VIII-1f All other contributions, gifts and grants$600,000
VIII-1h Total contributions, gifts and grants$600,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$600,000
Part IX · Statement of functional expenses $822,799 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $90$90
IX-5 Pay of current officers, directors and key staffPrograms $29,617 · Management $59,236 · Fundraising $59,236$148,089
IX-7 Other salaries and wagesPrograms $25,753 · Management $20,235$45,988
IX-10 Payroll taxesPrograms $19,166 · Management $21,755 · Fundraising $10,878$51,799
IX-11c Accounting feesManagement $7,283$7,283
IX-11d Lobbying feesPrograms $310,345$310,345
IX-11g Other fees for servicesPrograms $149,940 · Management $0 · Fundraising $0$149,940
IX-12 Advertising and promotionManagement $875$875
IX-13 Office expensesManagement $12,011$12,011
IX-16 OccupancyManagement $12,000$12,000
IX-17 TravelManagement $6,223$6,223
IX-23 InsuranceManagement $5,668$5,668
IX-24 Other expenses (24a–d)Management $72,488$72,488
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $534,911 · Management $217,774 · Fundraising $70,114$822,799
Part X · Balance sheet $462,715 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $614,752$462,715
X-10c Land, buildings and equipment, netStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $614,752$462,715
X-17 Accounts payable and accrued expensesStart of year $1,238$72,000
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $1,238$72,000
X-27 Net assets without donor restrictionsStart of year $613,514$390,715
X-32 Total net assets or fund balancesStart of year $613,514$390,715
X-33 Total liabilities and net assetsStart of year $614,752$462,715
Part XI · Reconciliation of net assets $390,715 net assets at year end
XI-1 Total revenue$600,000
XI-2 Total expenses$822,799
XI-3 Revenue less expenses−$222,799
XI-4 Net assets at start of year$613,514
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$390,715

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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