MEMPHIS & SHELBY CO VET MED ASSN I… - Form 990 Financial Data

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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

1958

Legal Domicile

Principal Officer

WILLIAM SWEET

Phone

9017541615

Tax Period

2024-01-01 to 2024-12-31

MEMPHIS & SHELBY CO VET MED ASSN INC, founded in 1958, is a micro nonprofit in the Community Improvement sector that reported $75K in total revenue in fiscal year 2024. Expenses of $71K left a modest 5% surplus.

Mission

TO ADVANCE THE SCIENCE ART OF VETERINARY MEDICINE, INCLUDING ITS RELATIONSHIP TO THE PUBLIC HEALTH OF THE COMMUNITY, TO PROMOTE ELEVATE THE PRACTICE OF VETERINARY MEDICINE, TO PROVIDE CONTINUING EDUCATION FOR MEMBERS, TO PROMOTE RESPONSIBLE PET OWNERSHIP THROUGH PUBLIC RELATION EFFORTS.

Program Service Accomplishments

Program 1

Expenses: $545 Revenue: $3,496

DISPOSAL OF MEDICAL BYPRODUCTS

Program 2

Expenses: $4,506 Revenue: $100

MONTHLY MEETINGS AND CONTINUING EDUCATION FOR VETERINARIANS

Program 3

Expenses: $28,818 Revenue: $52,359

ANNUAL MID-SOUTH VETERINARY CONFERENCE WITH CONTINUING EDUCATION FOR VETERINARIANS

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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 $17,837

Program Service Revenue $55,955

Investment Income $1,124

Other Revenue $0

TOTAL REVENUE $74,916

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,000

Fundraising Expenses $0

Program Expenses $37,109

Other Expenses $47,457

TOTAL EXPENSES $71,457

Year-over-Year Comparison

	2024	2023	Change
Revenue	$74,916	$71,840	+0.0%
Expenses	$71,457	$76,457	-0.1%
Net Income	$3,459	$-4,617	-1.7%

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

N/A

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

Total Directors

Key Employees

$24,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEE M HUGHES	EXECUTIVE DIRECTOR	020.00	Key Emp	$24,000	$0	$24,000
DR TERRY BARNETT	DIRECTOR	000.46	Director	$0	$0	$0
DR ALISHA HEZEL	DIRECTOR	000.46	Director	$0	$0	$0
DR THOMAS SLATTERY	DIRECTOR	000.46	Director	$0	$0	$0
DR JEREMY KEEN	VICE-PRESIDENT	000.46	Director	$0	$0	$0
DR LYNSAY PANNELL	DIRECTOR	000.46	Director	$0	$0	$0
DR CHASE WALDRIP	DIRECTOR	000.46	Director	$0	$0	$0
DR CAM HORNSBY	DIRECTOR	000.46	Director	$0	$0	$0
DR WILLIAM SWEET	PRESIDENT	000.46	Officer	$0	$0	$0
DR RODNEY BALTHROP	TREASURER	000.46	Officer	$0	$0	$0
DR JEN CLAY	SECRETARY	000.46	Officer	$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	$74,916	$71,457	$129,494	$3,459
2023	$71,840	$76,457	$126,035	$-4,617
2022	$75,984	$69,570	$130,652	$6,414
2021	$40,297	$31,527	$124,238	$8,770
2020	$33,898	$30,826	$115,468	$3,072

MEMPHIS & SHELBY CO VET MED ASSN INC