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Nonprofit · EIN 23-7057855

MEMPHIS CHAMBER FOUNDATION

Tax-exempt · MEMPHIS, TN 38103

Financials

$315K$21K2023$479K$755K2024
Revenue Expenses · by fiscal year end
Financials of MEMPHIS CHAMBER FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$478,745$755,261-$276,516$1,921,631$188,977$1,732,654
December 31, 2023990$314,663$20,988$293,675$2,499,988$70,769$2,429,219
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$754,096
of which government grants
$188,976
Program service revenue
$0
Investment income
-$275,351
Net gain from sales of assets
-$296,466
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Depreciation
$961
Management and general (functional)
$755,261

Balance sheet and other

Total assets, start of year
$2,499,988
Total assets, end of year
$1,921,631
Total liabilities, end of year
$188,977
Net assets, end of year
$1,732,654
Land, buildings and equipment
$332
Net assets without donor restrictions
$34,323
Net assets with donor restrictions
$1,698,331
Gross receipts
$775,211
Employees
0
Volunteers
0
Year formed
1969
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.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
TED TOWNSENDPRESIDENT
Officer
40$0$671,801$49,812
TED FERRISTREASURER
Trustee or director, Officer
1$0$295,127$47,227
WILLIE GREGORYCHAIRMAN
Trustee or director, Officer
1$0$0$0
GREGORY DUCKETTSECRETARY
Trustee or director, Officer
1$0$0$0
DOTTY GIUSTIDIRECTOR
Trustee or director
1$0$0$0
RUBY HANCOCKDIRECTOR
Trustee or director
1$0$0$0
ANTHONY NORRISDIRECTOR
Trustee or director
1$0$0$0
DUNCAN WILLIAMSDIRECTOR
Trustee or director
1$0$0$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
TED TOWNSENDPRESIDENT
Officer
40$0$325,812$48,815
TED FERRISTREASURER
Trustee or director, Officer
1$0$236,159$40,074
WILLIE GREGORYCHAIRMAN
Trustee or director, Officer
1$0$0$0
GREGORY DUCKETTSECRETARY
Trustee or director, Officer
1$0$0$0
DOTTY GIUSTIDIRECTOR
Trustee or director
1$0$0$0
RUBY HANCOCKDIRECTOR
Trustee or director
1$0$0$0
ANTHONY NORRISDIRECTOR
Trustee or director
1$0$0$0
DUNCAN WILLIAMSDIRECTOR
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
100 PEABODY PL STE 1000, MEMPHIS, TN 38103-3651
Principal officer (990 for 2024)
TED FERRIS, 100 PEABODY PLACE 1000, MEMPHIS, TN 38103
Signed the 990
TED FERRIS, TREASURER
Phone
(901) 543-3535
Return prepared by
WATKINS UIBERALL PLLC

Mission

THE ADVANCEMENT OF EDUCATION OR SCIENCE LESSENING THE BURDENS OF GOVERNMENT; LESSENING OF NEIGHBORHOOD TENSIONS; ELIMINATION OF PREJUDICE AND DISCRIMINATION, AND COMBATING COMMUNITY DETERIORATION. ALSO, PROMOTION OF THE ADVANCEMENT AND DIFFUSION OF KNOWLEDGE AND UNDERSTANDING OF ECONOMICS, FINANCE, EDUCATION AND TRAINING, SCIENCE AND TECHNOLOGY AS THEY RELATE TO THE COMMUNITY, THE REGION, AND THEIR PROBLEMS AND OPPORTUNITIES, THROUGH 1) THE UNDERTAKING OF STUDIES AND RESEARCH, COMPILATION OF RESULTS, AND PUBLICATION THEROF THROUGH ANY APPROPRIATE MEDIA; 2) THE CONDUCT OF TRAINING COURSES, SEMINARS, DISCUSSION GROUPS, FORUMS, PANELS, OR LECTURES, AND THE LIKE; 3) ANY ACTIVITY WHICH TENDS TO PROMOTE UNDERSTANDING, UNIFICATION, OR IMPROVED RELATIONSHIP BETWEEN DIFFERENT ECONOMIC OR ETHNIC GROUPS.

990 for the year ended December 31, 2024

Program accomplishments

  • ECONOMIC DEVELOPMENT OF THE STANDARD METROPOLITAN STATISTICAL AREA FOCUSING ON SHELBY COUNTY, TN. SERVICE TO THE GENERAL BUSINESS COMMUNITY TO DEVELOP A STRONG ECONOMIC CLIMATE FOR THE AREA SERVICED.

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-7057855
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1970
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,921,631
Income (IRS master file)
$775,211

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$478,745$755,261$1,921,631IRS
990December 2023$314,663$20,988$2,499,988XML
990December 2022$266,946$311,534$1,833,165IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 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 23-7057855).

Questions about MEMPHIS CHAMBER FOUNDATION

What is the EIN of MEMPHIS CHAMBER FOUNDATION?
The employer identification number (EIN) of MEMPHIS CHAMBER FOUNDATION is 23-7057855.
Is MEMPHIS CHAMBER FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1970.
Are donations to MEMPHIS CHAMBER FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MEMPHIS CHAMBER FOUNDATION 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 CHAMBER FOUNDATION 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 CHAMBER FOUNDATION 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 CHAMBER FOUNDATION?
The 990 for the year ended December 31, 2024 names TED FERRIS.
Who are the officers and directors of MEMPHIS CHAMBER FOUNDATION?
The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
How much revenue does MEMPHIS CHAMBER FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $478,745, expenses of $755,261 and total assets of $1,921,631 at year end.

Other nonprofits in MEMPHIS

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