Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
67 cents of each dollar spent went to programs.
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
15 people listed on the 990; $64K paid to officers and key staff.
Amy Schaftlein’s $19K as Executive Di is at the 14th percentile of top reported officer pay among 852 $100K–1M housing 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
| Name | FY2024 | FY2023 | FY2022 |
|---|---|---|---|
| Doreen Graves | — | $92,013 | — |
| Phyllis Robinson | — | — | $63,750 |
| Amy Schaftlein | $19,052 | — | — |
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
Facilitates solutions to achieve racial equity in homeownership.
Questions for Convergence Memphis INC
Your first name shows with your question. Convergence Memphis INC answers here, for everyone.
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Convergence Memphis hosted in Consumer outreach and education seminars as well as industry expert collaborations.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $162K | |
| Total assetsLn 16 | $0 | $162K |
| LiabilitiesLn 26 | $0 | $917 |
| Net assetsLn 32 | $0 | $161K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $64K | $38K | $26K | |
| Other salaries and wagesLn 7 | $4K | $2K | $1K | |
| Payroll taxesLn 10 | $5K | $3K | $2K | |
| Management feesLn 11a | $15K | $15K | ||
| Accounting feesLn 11c | $3K | $3K | ||
| Office expensesLn 13 | $2K | $1K | $925 | |
| TravelLn 17 | $973 | $973 | ||
| Conferences, conventions and meetingsLn 19 | $7K | $4K | $3K | |
| InterestLn 20 | $13 | $13 | ||
| InsuranceLn 23 | $4K | $2K | $1K | |
| Total functional expensesLn 25 | $104K | $70K | $34K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $18K | $25K | −$7K | $357K | 990 PDF |
| FY2023 | $434K | $231K | $203K | $364K | 990 PDF |
| FY2022 Viewing | $265K | $104K | $161K | $161K | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $265,218 revenue, 12 lines filed
Part VI · Governance 14 of 14 board members independent, 3 to look at
Part VIII · Statement of revenue $265,218 across 4 lines filed
Part IX · Statement of functional expenses $104,288 across 10 lines filed
Part X · Balance sheet $161,847 assets, 7 lines filed
Part XI · Reconciliation of net assets $160,930 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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