INDIE MEMPHIS (EIN 262165160) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

KENN GIBBS

Phone

9012145171

Tax Period

2024-01-01 to 2024-12-31

INDIE MEMPHIS, founded in 2008, is a small nonprofit in the Arts, Culture & Humanities sector that reported $518K in total revenue in fiscal year 2024. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $642K exceeded revenue, resulting in a 24% operating deficit.

Mission

TO CREATE COMMUNITY THROUGH INDEPENDENT FILM AND TO SUPPORT THE DEVELOPMENT OF FILMMAKERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $431,852

Program Service Revenue $66,735

Investment Income $2,485

Other Revenue $17,185

TOTAL REVENUE $518,257

Expense Breakdown

Grants Paid $0

Salaries & Benefits $387,555

Fundraising Expenses $19,985

Program Expenses $474,293

Other Expenses $253,995

TOTAL EXPENSES $641,550

Year-over-Year Comparison

	2024	2023	Change
Revenue	$518,257	$870,992	-0.4%
Expenses	$641,550	$1,144,297	-0.4%
Net Income	$-123,293	$-273,305	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$90,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIMEL FRYER	EXECUTIVE DI	40.00	Director	$90,000	$0	$90,000
PETER COLIN	TREASURER	1.00	Officer Director	$0	$0	$0
LES FREEMAN	DIRECTOR	1.00	Director	$0	$0	$0
KENN GIBBS	PRESIDENT	4.00	Officer Director	$0	$0	$0
KELLYN GOWAN	DIRECTOR	1.00	Director	$0	$0	$0
MARTHA HAMPLE	DIRECTOR	1.00	Director	$0	$0	$0
PENELOPE HUSTON	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
ANTON MACK	PAST PRESIDE	1.00	Director	$0	$0	$0
JENNIFER MCGRATH	DIRECTOR	1.00	Director	$0	$0	$0
GEOFFREY MORRIS	DIRECTOR	1.00	Director	$0	$0	$0
ELLE PERRY	DIRECTOR	1.00	Director	$0	$0	$0
WHITNEY RAAB	SECRETARY	1.00	Officer Director	$0	$0	$0
MARCY STAGNER	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$518,257	$641,550	$127,297	$-123,293
2023	$1,085,111	$1,159,990	$418,248	$-74,879
2023	$870,992	$1,144,297	$219,824	$-273,305
2022	$1,133,717	$807,175	$553,372	$326,542
2021	$430,243	$727,269	$292,836	$-297,026
2020	$788,268	$665,529	$498,098	$122,739
2019	$847,922	$734,285	$333,894	$113,637
2018	$641,957	$619,977	$260,966	$21,980

INDIE MEMPHIS