GENEROUS LIFE FOUNDATION D/B/A MEMPHIS DREAM CENTER

EIN: 311685087 501(c)(3) Human Services

CORDOVA, TN

Total Revenue
$992,667
Total Expenses
$981,012
Total Assets
$320,093
Net Assets
$304,752
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
TN
Principal Officer
ERIC STONE
Phone
9017510095
Tax Period
2024-01-01 to 2024-12-31

GENEROUS LIFE FOUNDATION D/B/A MEMPHIS DREAM CENTER, founded in 1998, is a small nonprofit in the Human Services sector that reported $993K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

TO IMPACT THE CITY OF MEMPHIS (AND OTHER URBAN AREAS) WITH EFFECTIVE COMMUNITY SERVICE AND TO PROVIDE RELIEF AND EDUCATION TO THE POOR, DISTRESSED, AND UNDERPRIVILEGED.

Program Service Accomplishments

Program 1
Expenses: $465,000

READ2LEAD - OBJECTIVE: THE READ2LEAD AFTER-SCHOOL PROGRAM SERVES K-6TH GRADE CHILDREN ATTENDING TITLE 1 SCHOOLS IN UNDER-RESOURCED AND UNDER-SERVED NEIGHBORHOODS. READ2LEAD PROVIDES HIGH QUALITY...

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READ2LEAD - OBJECTIVE: THE READ2LEAD AFTER-SCHOOL PROGRAM SERVES K-6TH GRADE CHILDREN ATTENDING TITLE 1 SCHOOLS IN UNDER-RESOURCED AND UNDER-SERVED NEIGHBORHOODS. READ2LEAD PROVIDES HIGH QUALITY ACADEMIC AND ENRICHMENT OPPORTUNITIES AND FAMILY ENGAGEMENT IN AND OUT OF SCHOOL TIME SETTING. THIS PROGRAM FOCUSES ON CLOSING THE ACADEMIC AND OPPORTUNITY GAPS FOR CHILDREN IN A SAFE LIFE-GIVING ENVIRONMENT. STATS: 184 STUDENTS SERVED.

Program 2
Expenses: $120,000

FEEDMEMPHIS - OBJECTIVE: FEEDMEMPHIS IS A COMBINATION OF PROGRAMS AND EVENTS ADDRESSING FOOD INSECURITY IN THE CITY OF MEMPHIS. FROM OUR MONTHLY POP UP GROVERY FOOD DRIVES AND MONTHLY FOOD BOX...

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FEEDMEMPHIS - OBJECTIVE: FEEDMEMPHIS IS A COMBINATION OF PROGRAMS AND EVENTS ADDRESSING FOOD INSECURITY IN THE CITY OF MEMPHIS. FROM OUR MONTHLY POP UP GROVERY FOOD DRIVES AND MONTHLY FOOD BOX PROGRAMS, DOORSTEP DELIVERY, THE FEEDMEMPHIS INITIATIVE SEEKS TO HELP THOSE EXPERIENCING FOOD INSECURITY BY MEETING TANGIBLE NEEDS. STATS: POP UP GROCERY - 245 FAMILIES, 14,030 LBS OF FOOD. FOOD BOXES - 532.

Program 3
Expenses: $90,000

FAMILY ADVOCACY - OBJECTIVE: THROUGH THE FAMILY ADVOCACY CENTER, WE WANT TO WALK WITH AND BE A SAFE HAVEN FOR FAMILIES NAVIGATING CRISES AND THOSE WHO WALK WITH AND SUPPORT THEM. THIS PROGRAM...

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FAMILY ADVOCACY - OBJECTIVE: THROUGH THE FAMILY ADVOCACY CENTER, WE WANT TO WALK WITH AND BE A SAFE HAVEN FOR FAMILIES NAVIGATING CRISES AND THOSE WHO WALK WITH AND SUPPORT THEM. THIS PROGRAM PROVIDES TANGIBLE NEEDS SUCH AS BEDDING, CLOTHING, DIAPERS, SCHOOL UNIFORMS, AND GROCERIES, AS WELL AS SPIRITUAL AND EMOTIONAL SUPPORT. THE FAMILY ADVOCACY CENTER OFFERS PARENT/GUARDIAN SUPPORT GROUPS. STATS: SERVED 3,205 INDIVIDUALS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $992,467
Program Service Revenue $0
Investment Income $0
Other Revenue $200
TOTAL REVENUE $992,667

Expense Breakdown

Grants Paid $0
Salaries & Benefits $736,208
Fundraising Expenses $98,638
Program Expenses $754,654
Other Expenses $244,804
TOTAL EXPENSES $981,012

Year-over-Year Comparison

2024 2023 Change
Revenue $992,667 $1,135,088 -0.1%
Expenses $981,012 $1,015,945 0.0%
Net Income $11,655 $119,143 -0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
7
Independent Members
6
Employees
39
Volunteers
600

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
4
$89,307
Total Directors
7
$89,307
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANE LAWSON CHAIRMAN 1.00
Officer Director
$0 $0 $0
KELLI CARSON PRESIDENT 40.00
Officer Director
$86,539 $2,768 $89,307
PHILLIP RIX TREASURER 1.00
Officer Director
$0 $0 $0
JANNA FORBES SECRETARY 1.00
Officer Director
$0 $0 $0
BOBBY WHITE BOARD MEMBER 1.00
Director
$0 $0 $0
JOSH COTTEN BOARD MEMBER 1.00
Director
$0 $0 $0
CECE GLENN BOARD MEMBER 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
2025 No data No data No data No data
2024 $992,667 $981,012 $320,093 $11,655
2023 $1,135,088 $1,015,945 $335,325 $119,143
2022 $865,409 $860,932 $202,994 $4,477
2021 $528,001 $579,572 $144,119 $-51,571
2020 $525,893 $437,871 $197,994 $88,022
2019 $231,169 $221,280 $93,442 $9,889
2018 $71,298 $161,859 $80,612 $-90,561
2018 $71,298 $161,859 $80,612 $-90,561
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