MEMPHIS CONVENTION & VISITORS BUREAU D/B/A MEMPHIS TOURISM CORP (EIN 621025301) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

KEVIN KANE

Phone

9015435300

Tax Period

2022-07-01 to 2023-06-30

MEMPHIS CONVENTION & VISITORS BUREAU D/B/A MEMPHIS TOURISM CORP, founded in 1978, is a mid-sized nonprofit that reported $19.2M in total revenue in fiscal year 2022. Expenses of $17.0M left a modest 11% surplus.

Mission

THE BUREAU PROMOTES MEMPHIS AS A CONVENTION SITE AND TOURISM DESTINATION, ASSISTS OTHER ORGANIZATIONS INVOLVED IN SUCH ACTIVITIES, DEVELOPS MARKETING STRATEGIES TO INCREASE VISITOR TRAVEL AND PROMOTES THE DEVELOPMENT OF THE HOSPITALITY INDUSTRY IN THE GREATER MEMPHIS AND SHELBY COUNTY AREAS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $17,972,831

Program Service Revenue $0

Investment Income $845,635

Other Revenue $367,623

TOTAL REVENUE $19,186,089

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,927,784

Fundraising Expenses $0

Program Expenses $14,133,835

Other Expenses $12,113,153

TOTAL EXPENSES $17,040,937

Year-over-Year Comparison

	2022	2021	Change
Revenue	$19,186,089	$18,472,607	+0.0%
Expenses	$17,040,937	$14,540,287	+0.2%
Net Income	$2,145,152	$3,932,320	-0.5%

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

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

$1,462,995

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SALLY PACE	CHAIR	1.00	Officer Director	$0	$0	$0
DOUG BROWNE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
HAROLD GRAETER	SECRETARY	1.00	Officer Director	$0	$0	$0
SCOTT BROCKMAN	TREASURER	1.00	Officer Director	$0	$0	$0
CINDY ADDISON	BOARD MEMBER	1.00	Director	$0	$0	$0
TERRY BLUE	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN BREWER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN BUTLER	BOARD MEMBER	1.00	Director	$0	$0	$0
FORD CANALE	BOARD MEMBER	1.00	Director	$0	$0	$0
ROSE FLENORL	BOARD MEMBER	1.00	Director	$0	$0	$0
ALLISON FOUCHE'	BOARD MEMBER	1.00	Director	$0	$0	$0
DWIGHT JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
MICKELL LOWERY	BOARD MEMBER	1.00	Director	$0	$0	$0
GRETCHEN WOLLERT MCLENNON	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
BOO MITCHELL	BOARD MEMBER	1.00	Director	$0	$0	$0
PAT MITCHELL-WORLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
FAITH MORRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
SANDY ROBERTSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JOEL SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
WELBY STAMPS	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL TODD	BOARD MEMBER	1.00	Director	$0	$0	$0
TED TOWNSEND	BOARD MEMBER	1.00	Director	$0	$0	$0
CRAIG UNGER	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN G KANE	PRESIDENT/CEO	40.00	Officer	$564,579	$58,036	$622,615
LINDA SAWYER	CAO/CFO	40.00	Officer	$253,705	$36,879	$290,584
MALVIN GIPSON	EVP SALES, SPORTS & SERVIC	40.00	Officer	$246,559	$43,141	$289,700
REGENA BEARDEN	CMO	40.00	Officer	$230,070	$30,026	$260,096
KEVIN KERN	VP - PUBLIC RELATIONS	40.00	Highest	$130,364	$21,451	$151,815
KERMIT MADISON	SR. NATIONAL SALES DIRECTO	40.00	Highest	$109,900	$18,824	$128,724
EVA GOODSON	NATIONAL SALES DIRECTOR	40.00	Highest	$109,020	$32,124	$141,144
MARY SCHMITZ	EXECUTIVE DIRECTOR - MTEF	40.00	Highest	$108,729	$24,125	$132,854
PATRICK AVERSA	NATIONAL SALES DIRECTOR	40.00	Highest	$116,840	$36,994	$153,834

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	$19,186,089	$17,040,937	$48,257,129	$2,145,152
2022	$18,472,607	$14,540,287	$46,926,710	$3,932,320
2020	$17,172,027	$14,759,905	$38,589,779	$2,412,122
2019	$17,195,460	$14,936,706	$36,874,463	$2,258,754
2018	$16,149,071	$13,746,282	$32,756,532	$2,402,789

MEMPHIS CONVENTION & VISITORS BUREAU D/B/A MEMPHIS TOURISM CORP