Nonprofit · EIN 58-2158058
FRAYSER COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · MEMPHIS, TN 38127
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,125,948 | $1,721,930 | -$595,982 | $5,043,351 | $1,199,718 | $3,843,633 |
| December 31, 2023 | 990 | $1,608,007 | $1,867,578 | -$259,571 | $6,208,025 | $1,282,513 | $4,925,512 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $37,721
- of which government grants
- $1,300
- Program service revenue
- $1,057,287
- Investment income
- $30,940
- Net gain from sales of assets
- $25,088
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $79,469
- Other salaries and wages
- $299,400
- Salaries, compensation and benefits (total)
- $452,455
- Professional fundraising fees
- $0
- Legal fees
- $4,276
- Accounting fees
- $38,322
- Depreciation
- $251,809
- Program services (functional)
- $1,453,357
- Management and general (functional)
- $268,573
Balance sheet and other
- Total assets, start of year
- $5,722,128
- Total assets, end of year
- $5,043,351
- Total liabilities, end of year
- $1,199,718
- Net assets, end of year
- $3,843,633
- Land, buildings and equipment
- $3,407,696
- Net assets without donor restrictions
- $3,343,621
- Net assets with donor restrictions
- $500,012
- Gross receipts
- $1,125,948
- Employees
- 10
- Volunteers
- 10
- 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 |
|---|---|---|---|---|
| DARRELL SCOTT | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $79,469 | $1,800 |
| LORA FOWLER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHERMAN GREER | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| JOHNNIE HATTEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PEGGY JEFFERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHARON COLE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| REGINA DOWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHELLY RICE | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| VERNON WOODS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| YVONNE SPENCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PATRICIA BURNETT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL ELLIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHERITA MARTIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TELISE TURNER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LORA FOWLER | DIRECTOR Trustee or director | 1 | $0 |
| SHERMAN GREER | DIRECTOR Trustee or director | 1 | $0 |
| JOHNNIE HATTEN | BOARD CHAIR Trustee or director, Officer | 1 | $0 |
| PEGGY JEFFERSON | DIRECTOR Trustee or director | 1 | $0 |
| SHARON COLE | DIRECTOR Trustee or director | 1 | $0 |
| REGINA DOWEL | DIRECTOR Trustee or director | 1 | $0 |
| DARRELL SCOTT | EXECUTIVE DIRECTOR Trustee or director, Officer | 1 | $0 |
| SHELLY RICE | DIRECTOR Trustee or director | 1 | $0 |
| VERNON WOODS | DIRECTOR Trustee or director | 1 | $0 |
| YVONNE SPENCER | DIRECTOR Trustee or director | 1 | $0 |
| PATRICIA BURNETT | DIRECTOR Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3684 N WATKINS ST, MEMPHIS, TN 38127-4361
- Principal officer (990 for 2024)
- SHARON COLE, 3684 N WATKINS STREET, MEMPHIS, TN 38127
- Signed the 990
- SHARON COLE, PRESIDENT
- Phone
- (901) 354-9401
- Website
- WWW.FRAYSERCDC.ORG
- Return prepared by
- LBMC PC
Mission
TO ACQUIRE AND REHABILITATE AFFORDABLE HOUSING FOR INCOME ELIGIBLE INDIVIDUALS IN THE FRAYSER COMMUNITY IN MEMPHIS, TENNESSEE. THE AREA IS CHARACTERIZED BY HIGH UNEMPLOYMENT, DETERIORATING HOUSING, CRIME AND POVERTY.
Program accomplishments
- ACQUIRING AND REHABILITATING AFFORDABLE HOUSING FOR INCOME ELIGIBLE INDIVIDUALS IN THE FRAYSER COMMUNITY IN MEMPHIS, TENNESSEE. THE AREA IS CHARACTERIZED BY HIGH UNEMPLOYMENT, DETERIORATING HOUSING, CRIME AND POVERTY.Expenses $1,453,357 · revenue $1,082,375
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
- 58-2158058
- 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
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $5,043,351
- Income (IRS master file)
- $1,125,948
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,125,948 | $1,721,930 | $5,043,351 | IRS |
| 990 | December 2023 | $1,608,007 | $1,867,578 | $6,208,025 | XML |
| 990 | December 2022 | $1,364,611 | $1,758,902 | $6,541,771 | 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 58-2158058).
Questions about FRAYSER COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of FRAYSER COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of FRAYSER COMMUNITY DEVELOPMENT CORPORATION is 58-2158058.
- Is FRAYSER COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to FRAYSER COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FRAYSER COMMUNITY DEVELOPMENT CORPORATION 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 FRAYSER COMMUNITY DEVELOPMENT CORPORATION 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 FRAYSER COMMUNITY DEVELOPMENT CORPORATION 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 FRAYSER COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names SHARON COLE.
- Who are the officers and directors of FRAYSER COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $79,469 (DARRELL SCOTT, EXECUTIVE DIRECTOR).
- How much revenue does FRAYSER COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,125,948, expenses of $1,721,930 and total assets of $5,043,351 at year end.
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