Memphis Rock N Soul Museum Inc

EIN: 621632202 501(c)(3) Arts, Culture & Humanities

Memphis, TN

Total Revenue
$2,491,151
Total Expenses
$1,315,379
Total Assets
$3,579,135
Net Assets
$3,561,015
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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
1998
Legal Domicile
TN
Principal Officer
John Doyle
Phone
9012052530
Tax Period
2023-01-01 to 2023-12-31

Memphis Rock N Soul Museum Inc, founded in 1998, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2023. Revenue surged 115% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 47% operating margin.

Mission

The mission of the Memphis Rock N Soul Museum is to preserve and tell the is to preserve and tell the story of Memphis Music and to perpetuate its legacy

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,060,085
Program Service Revenue $338,986
Investment Income $41,580
Other Revenue $50,500
TOTAL REVENUE $2,491,151

Expense Breakdown

Grants Paid $0
Salaries & Benefits $461,452
Fundraising Expenses $19,518
Program Expenses $394,370
Other Expenses $853,927
TOTAL EXPENSES $1,315,379

Year-over-Year Comparison

2023 2022 Change
Revenue $2,491,151 $1,156,104 +1.2%
Expenses $1,315,379 $1,093,113 +0.2%
Net Income $1,175,772 $62,991 +17.7%
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

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Governance

Voting Members
22
Independent Members
22
Employees
10
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
$130,000
Total Directors
22
$0
Key Employees
1
$130,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Barry Leff Past Chairperson 2.00
Director
$0 $0 $0
JW Gibson Director 2.00
Director
$0 $0 $0
Gretchen McLennon Secretary 4.00
Officer Director
$0 $0 $0
Sandra Jones Director 2.00
Director
$0 $0 $0
Kevin McEniry Director 2.00
Director
$0 $0 $0
John Pugliese Director 2.00
Director
$0 $0 $0
Kevin Kane Director 2.00
Director
$0 $0 $0
Mack Weaver Vice Chairperson 4.00
Officer Director
$0 $0 $0
Mia Bowen Chairperson 4.00
Officer Director
$0 $0 $0
Penelope Huston Director 2.00
Director
$0 $0 $0
Henry Talbot Director 2.00
Director
$0 $0 $0
Mina Becton Director 2.00
Director
$0 $0 $0
Joy Brown Director 2.00
Director
$0 $0 $0
Tonya Dyson Director 2.00
Director
$0 $0 $0
Danielle Inez Director 2.00
Director
$0 $0 $0
Martavius Jones Treasurer 4.00
Director
$0 $0 $0
Gebre Waddell Director 2.00
Director
$0 $0 $0
Bertram Williams Director 2.00
Director
$0 $0 $0
Shawn Danko Director 2.00
Director
$0 $0 $0
George Monger Director 2.00
Director
$0 $0 $0
Ben Orgel Director 2.00
Director
$0 $0 $0
Sandy Robertson Director 2.00
Director
$0 $0 $0
John Doyle Executive Director 40.00
Officer Key Emp Highest
$130,000 $0 $130,000
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 $2,491,151 $1,315,379 $3,579,135 $1,175,772
2022 $1,156,104 $1,093,113 $2,397,096 $62,991
2020 $568,217 $891,958 $2,189,014 $-323,741
2019 $1,137,562 $1,248,454 $2,369,613 $-110,892
2018 $968,124 $1,214,277 $2,519,542 $-246,153
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