Memphis Rock N Soul Museum Inc

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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

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

Program Service Accomplishments

Program 1

Expenses: $183,933 Revenue: $2,491,151

The Memphis Rock N Soul Museum (MRNS)operates and maintains a museum and exhibition hall, created by the Smithsonian Institute, that portrays the birth of Rock and Soul Music and tells the story of...

Program 2

Expenses: $210,437 Revenue: $2,491,151

The organization developed the Memphis Music Hall of Fame (The MMHOF) to honor Memphis world changing artists through an annual induction ceremony. MMHOF further expands MRNSMs mission of preserving & telling the story of Memphis Music and perpetuating its legacy though music education, new artist promotion, provides an encyclopedic educational resource of Memphis musical backbone, advances the citys musical brand, and builds community pride. MMHOF commemorates the musical accomplishments of the inductees to the HOF with an interactive gallery exhibition that allows gallery visitors access to full biographies, audio samples, educational lesson plans for student, and video clips of interviews, performances & video tributes. The gallery displays memorabilia from the inductees and promotes local emerging bands and musicians.

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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 $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

Governance

Voting Members

Independent Members

Employees

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

$130,000

Total Directors

Key Employees