WHITEHAVEN ECONOMIC DEVELOPMENT CORPORATION

EIN: 581943320 501(c)(3) Housing & Shelter

MEMPHIS, TN

Total Revenue
$126,000
Total Expenses
$158,009
Total Assets
$15,957
Net Assets
$15,327
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
TN
Principal Officer
LEANDRE GIBSON
Phone
9018268019
Tax Period
2024-01-01 to 2024-12-31

WHITEHAVEN ECONOMIC DEVELOPMENT CORPORATION, founded in 1990, is a small nonprofit in the Housing & Shelter sector that reported $126K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $158K exceeded revenue, resulting in a 25% operating deficit.

Mission

TO REVITALIZE THE GREATER WHITEHAVEN COMMUNITY OF MEMPHIS, TN THROUGH A JOINT COLLABORATION WITH RESIDENT, BUSINESSES, CHURCHES AND OTHER AGENCIES IN THE AREA.

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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 $125,000
Program Service Revenue $0
Investment Income $0
Other Revenue $1,000
TOTAL REVENUE $126,000

Expense Breakdown

Grants Paid $0
Salaries & Benefits $50,710
Fundraising Expenses $0
Program Expenses $130,763
Other Expenses $107,299
TOTAL EXPENSES $158,009

Year-over-Year Comparison

2024 2023 Change
Revenue $126,000 $151,369 -0.2%
Expenses $158,009 $120,456 +0.3%
Net Income $-32,009 $30,913 -2.0%
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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Governance

Voting Members
8
Independent Members
8
Employees
1
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
2
$0
Total Directors
13
$50,710
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEANDRE GIBSON EXECUTIVE DI 40.00
Director
$50,710 $0 $50,710
CHAD BOWMAN MEMBER N/A
Director
$0 $0 $0
GERRE CURRIE MEMBER N/A
Director
$0 $0 $0
DR CHISTOPHER DAVIS MEMBER N/A
Director
$0 $0 $0
MICAEL FULTON MEMBER N/A
Director
$0 $0 $0
ADRENA JACKSON MEMBER N/A
Director
$0 $0 $0
KENDRA LOVE MEMBER N/A
Director
$0 $0 $0
SHIRLEY PEACE-COBBINS MEMBER N/A
Director
$0 $0 $0
DR CLEMENTHIA POOLE MEMBER N/A
Director
$0 $0 $0
JARMILA REED BOARD MEMBER N/A
Director
$0 $0 $0
ALEXANDER SHINDLER MEMBER N/A
Director
$0 $0 $0
RICK SMITH MEMBER N/A
Director
$0 $0 $0
DUPLE' TRAVILLION MEMBER N/A
Director
$0 $0 $0
CHARLES EVERETT TREASURER N/A
Officer
$0 $0 $0
WILLIAN FRAYSER VICE PRESIDE N/A
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
2024 $126,000 $158,009 $15,957 $-32,009
2023 $151,369 $120,456 $42,151 $30,913
2022 $93,930 $197,886 $11,239 $-103,956
2021 $196,285 $124,518 $117,792 $71,767
2021 $196,285 $124,518 $117,792 $71,767
2019 $14,750 $115,652 $75,877 $-100,902
2018 $5,870 $116,878 $179,786 $-111,008
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