CROSSTOWN REDEVELOPMENT COOPERATIVE ASSOCIATION INC

EIN: 472073263 501(c)(3) Community Improvement

Memphis, TN

Total Revenue
$1,498,905
Total Expenses
$1,539,534
Total Assets
$12,051,221
Net Assets
$-5,702,967
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
TN
Phone
9015071179
Tax Period
2024-01-01 to 2024-12-31

CROSSTOWN REDEVELOPMENT COOPERATIVE ASSOCIATION INC, founded in 2014, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring.

Mission

TO ASSIST IN THE REVITALIZATION AND ECONOMIC DEVELOPMENT OF THE CROSSTOWN NEIGHBORHOOD IN MEMPHIS, TENNESSEE, BY ASSISTING IN AND FACILITATING THE MANAGEMENT, PRESERVATION AND REDEVELOPMENT OF THE CROSSTOWN PROJECT, NOW KNOWN AS CROSSTOWN CONCOURSE. THE FOREGOING SHALL INCLUDE, WITHOUT LIMITATION, ACTING AS A MANAGER AND/OR MEMBER OF BUILDING OWNER.

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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 $240,000
Program Service Revenue $1,044,723
Investment Income $-17,085
Other Revenue $231,267
TOTAL REVENUE $1,498,905

Expense Breakdown

Grants Paid $0
Salaries & Benefits $695,692
Fundraising Expenses $0
Program Expenses $672,541
Other Expenses $843,842
TOTAL EXPENSES $1,539,534

Year-over-Year Comparison

2024 2023 Change
Revenue $1,498,905 $2,459,177 -0.4%
Expenses $1,539,534 $937,112 +0.6%
Net Income $-40,629 $1,522,065 -1.0%
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

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Governance

Voting Members
10
Independent Members
9
Employees
3
Volunteers
N/A

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
$368,372
Total Directors
10
$368,372
Key Employees
1
$244,058
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DALLAS GREER TREASURER 1.0
Officer Director
$0 $0 $0
MCLEAN WILSON CHAIRPERSON 1.0
Officer Director
$0 $0 $0
MILTON LOVELL SECRETARY 1.0
Officer Director
$0 $0 $0
TODD RICHARDSON President & CEO 40.0
Officer Director
$344,278 $24,094 $368,372
ANN LANGSTON Director 1.0
Director
$0 $0 $0
ELLIOT PERRY Director 1.0
Director
$0 $0 $0
ERIN JOHNSON Director 1.0
Director
$0 $0 $0
MARTIN HAND Director 1.0
Director
$0 $0 $0
STALEY CATES Director 1.0
Director
$0 $0 $0
TOM GRIMES Director 1.0
Director
$0 $0 $0
Prince Matthew Chief Operating Officer 40.0
Key Emp
$230,000 $14,058 $244,058
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 $1,498,905 $1,539,534 $12,051,221 $-40,629
2023 $2,459,177 $937,112 $9,146,793 $1,522,065
2022 $20,419,420 $522,633 $26,466,461 $19,896,787
2022 $44,593,632 $522,633 $6,500,673 $44,070,999
2021 $218,357 $400,149 $6,561,938 $-181,792
2020 $2,055,273 $802,587 $6,270,613 $1,252,686
2020 $2,105,273 $802,587 $6,270,613 $1,302,686
2019 $4,595,344 $161,382 $4,559,650 $4,433,962
2019 $4,595,344 $161,382 $4,559,650 $4,433,962
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