MEMPHIS AREA CHAMBER OF COMMERCE

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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

1906

Legal Domicile

Principal Officer

TED FERRIS

Phone

9015433535

Tax Period

2023-01-01 to 2023-12-31

MEMPHIS AREA CHAMBER OF COMMERCE, founded in 1906, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

TO SERVE OUR MEMBERS AND PARTNERS BY IMPROVING THE QUALITY OF LIFE THROUGH REGIONAL ECONOMIC PROSPERITY.

Program Service Accomplishments

Program 1

ECONOMIC DEVELOPMENT OF THE STANDARD METROPOLITAN STATISTICAL AREA FOCUSING ON SHELBY COUNTY, TN. SERVICE TO THE GENERAL BUSINESS COMMUNITY TO DEVELOP A STRONG ECONOMIC CLIMATE FOR THE AREA SERVICED.

Program 2

MARKETING THE BUSINESS ATTRIBUTES OF THE SERVICE AREA.

Program 3

SUPPORTING NEEDS OF SPECIFIC SPECIAL PROJECTS THAT ENHANCE THE ECONOMIC COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $6,354,530

Program Service Revenue $1,756,740

Investment Income $35,046

Other Revenue $158,714

TOTAL REVENUE $8,305,030

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,759,384

Fundraising Expenses $0

Other Expenses $2,848,446

TOTAL EXPENSES $8,607,830

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,305,030	$7,361,900	+0.1%
Expenses	$8,607,830	$7,646,197	+0.1%
Net Income	$-302,800	$-284,297	+0.1%

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

152

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

$374,627

Total Directors

Key Employees

$276,233

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG BROWNE	CHAIRMAN	1.00	Officer Director	$0	$0	$0
WILLIE GREGORY	PAST CHAIRMAN	1.00	Officer Director	$0	$0	$0
GREG DUCKETT	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
DUNCAN WILLIAMS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
JASON YARBRO	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID WADDELL	FINANCE CHAIR	1.00	Officer Director	$0	$0	$0
BEN ADAMS	EXECUTIVE COMMITTEE MEMBER	1.00	Officer Director	$0	$0	$0
TAMMY LOCASCIO	EXECUTIVE COMMITTEE MEMBER	1.00	Officer Director	$0	$0	$0
DAVID MAY	EXECUTIVE COMMITTEE MEMBER	1.00	Officer Director	$0	$0	$0
TOM NEWBERN	EXECUTIVE COMMITTEE MEMBER	1.00	Officer Director	$0	$0	$0
RICHARD SMITH	EXECUTIVE COMMITTEE MEMBER	1.00	Officer Director	$0	$0	$0
JOZELLE BOOKER	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT BROCKMAN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC BROWN	DIRECTOR	1.00	Director	$0	$0	$0
TYRONE BURROUGHS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CRISTAL	DIRECTOR	1.00	Director	$0	$0	$0
BILL DUNAVANT III	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG GAFFIN	DIRECTOR	1.00	Director	$0	$0	$0
JASON GILLUM	DIRECTOR	1.00	Director	$0	$0	$0
TRACY HALL	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KANE	DIRECTOR	1.00	Director	$0	$0	$0
DAPHNE LARGE	DIRECTOR	1.00	Director	$0	$0	$0
JASON LITTLE	DIRECTOR	1.00	Director	$0	$0	$0
NEELY MALLORY III	DIRECTOR	1.00	Director	$0	$0	$0
STACY MCCALL	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MCGOWEN	DIRECTOR	1.00	Director	$0	$0	$0
RUSSELL NENON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL SCARBROUGH	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA TAVEAU	DIRECTOR	1.00	Director	$0	$0	$0
BLAIR TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL UGWUEKE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WEBB	DIRECTOR	1.00	Director	$0	$0	$0
SPENCE WILSON JR	DIRECTOR	1.00	Director	$0	$0	$0
JAMES TOWNSEND III	PRESIDENT AND CEO	40.00	Officer	$325,812	$48,815	$374,627
TED FERRIS	SR. VP AND CAO	40.00	Key Emp	$236,159	$40,074	$276,233
LELAND BURRESS	MEMBERSHIP- SALES	40.00	Highest	$119,598	$28,102	$147,700
NANCY COFFEE	SR. VP OF CHAIRMAN CIRCLE	40.00	Highest	$428,205	$58,958	$487,163
AMANDA DANIELS	SR. VP COMMUNICATION & PROGRAMMING	40.00	Highest	$187,079	$18,222	$205,301
GWYN FISHER	ECONOMIC DEVDELOPMENT CHIEF	40.00	Highest	$198,362	$21,311	$219,673
LISA LOVELL-AYRES	DIRECTOR OF CC ENGAGEMENT	40.00	Highest	$111,055	$11,542	$122,597
SUSAN MAYNOR	VP OF ECONOMIC DEVELOPMENT	40.00	Highest	$133,533	$19,175	$152,708
TECORA MURRAY	EXECUTIVE DIRECTOR OF GMERGE	40.00	Highest	$138,354	$28,246	$166,600
TROY PARKES	DIRECTOR OF BUSINESS DEVELOPMENT	40.00	Highest	$108,512	$11,561	$120,073
BLAKE PAYNE	MEMBERSHIP- SALES	40.00	Highest	$110,726	$11,590	$122,316
ROBERT RECKER	PRESIDENT OF CBI	40.00	Highest	$153,637	$27,954	$181,591
AMITY SCHUYLER	SVP WORKFORCE DEVELOPMENT	40.00	Highest	$210,856	$26,802	$237,658
DEQUANDA SMITH	SPONSORSHIP SALES	40.00	Highest	$164,908	$33,543	$198,451
CHRISTOPHER STEWART	VP OF FINANCE	40.00	Highest	$103,609	$26,594	$130,203
VERA TERRELL	MEMBERSHIP- SALES	40.00	Highest	$109,725	$17,310	$127,035
BOBBY WHITE	CHIEF PUBLIC POLICY	40.00	Highest	$175,072	$34,225	$209,297
SONDRA Y WILLIS-HOWELL	VP TALENT DEVELOPMENT	40.00	Highest	$118,245	$24,400	$142,645
DIAMOND YOUNG	DIRECTOR OF MARKETING	40.00	Highest	$100,185	$8,969	$109,154

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	No data	No data	No data	No data
2023	$8,305,030	$8,607,830	$6,347,879	$-302,800
2022	$7,361,900	$7,646,197	$6,703,559	$-284,297
2021	$6,894,505	$6,049,161	$3,591,167	$845,344
2020	$7,733,165	$4,979,656	$2,654,161	$2,753,509
2019	$6,568,848	$6,464,436	$627,339	$104,412
2018	$6,831,783	$6,448,637	$908,457	$383,146