Nonprofit · EIN 03-0482299
MEMPHIS LAND BANK INC
Tax-exempt · MEMPHIS, TN 38157
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | -$512,596 | $756,086 | -$1,268,682 | $19,049,091 | $9,801,744 | $9,247,347 |
| December 31, 2023 | 990 | -$568,686 | $733,373 | -$1,302,059 | $19,257,277 | $9,498,053 | $9,759,224 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $402,262
- Investment income
- $252,076
- Net rental income
- -$1,166,934
- Net gain from sales of assets
- $37,211
- Other revenue
- -$1,166,934
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $368,871
- Salaries, compensation and benefits (total)
- $440,499
- Professional fundraising fees
- $0
- Legal fees
- $96,019
- Accounting fees
- $48,744
- Occupancy
- $48,700
- Program services (functional)
- $685,164
- Management and general (functional)
- $70,922
Balance sheet and other
- Total assets, start of year
- $19,257,277
- Total assets, end of year
- $19,049,091
- Total liabilities, end of year
- $9,801,744
- Net assets, end of year
- $9,247,347
- Land, buildings and equipment
- $239,200
- Net assets without donor restrictions
- $9,247,347
- Gross receipts
- $654,338
- Employees
- 2
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| OWEN L REID | DIRECTOR OF OPERATIONS Trustee or director | 40 | $175,550 | $10,038 |
| VIRGINIA A FRANCIS | SECRETARY/ASSISTANT TREASU Trustee or director, Officer | 40 | $175,550 | $7,733 |
| OSIE LEWIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| J MARTIN REGAN JR | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| LUKE YANCY IV | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| OWEN L REID | DIRECTOR OF OPERATIONS Trustee or director | 40 | $171,606 | $4,308 |
| VIRGINIA A FRANCIS | SECRETARY/ASSISTANT TREASU Trustee or director, Officer | 40 | $152,078 | $7,614 |
| OSIE LEWIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| J MARTIN REGAN JR | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| LUKE YANCY IV | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5050 POPLAR AVE STE 1714, MEMPHIS, TN 38157-1714
- Principal officer (990 for 2024)
- J MARTIN REGAN JR, 5050 POPLAR AVE STE 1714, MEMPHIS, TN 381571714
- Signed the 990
- VIRGINIA FRANCIS, ASSISTANT TREASURER
- Phone
- (901) 590-4821
- Return prepared by
- CANNON WRIGHT BLOUNT PLLC
Mission
TO ACQUIRE, CONSTRUCT, DEVELOP, LEASE, MANAGE, OPERATE, SELL AND OTHERWISE DEAL WITH SAFE, DECENT, AND AFFORDABLE HOUSING, IN PARTICULAR, ASSISTING THE LOCAL HOUSING AUTHORITY IN PROVIDING HOUSING TO LOW AND VERY LOW INCOME FAMILIES AND INDIVIDUALS IN THE CITY OF MEMPHIS, TENNESSEE.
Program accomplishments
- ENGAGED IN THE CONSTRUCTION DEVELOPMENT AND MANAGEMENT OF SINGLE FAMILY AND DUPLEX LOW INCOME HOUSING TAX CREDIT PROPERTIES.Expenses $685,164 · revenue $402,262
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0482299
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S12)
- Assets (IRS master file)
- $19,049,091
- Income (IRS master file)
- $654,338
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | -$512,596 | $756,086 | $19,049,091 | IRS |
| 990 | December 2023 | -$568,686 | $733,373 | $19,257,277 | XML |
| 990 | December 2022 | $655,642 | $647,479 | $19,099,718 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0482299).
Questions about MEMPHIS LAND BANK INC
- What is the EIN of MEMPHIS LAND BANK INC?
- The employer identification number (EIN) of MEMPHIS LAND BANK INC is 03-0482299.
- Is MEMPHIS LAND BANK INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to MEMPHIS LAND BANK INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MEMPHIS LAND BANK INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MEMPHIS LAND BANK INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MEMPHIS LAND BANK INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MEMPHIS LAND BANK INC?
- The 990 for the year ended December 31, 2024 names J MARTIN REGAN JR.
- Who are the officers and directors of MEMPHIS LAND BANK INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 2 received compensation from the organization, the highest $175,550 (OWEN L REID, DIRECTOR OF OPERATIONS).
- How much revenue does MEMPHIS LAND BANK INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of -$512,596, expenses of $756,086 and total assets of $19,049,091 at year end.
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All nonprofits in MEMPHIS · Tennessee · Community improvement and capacity building