THE CANALE FOUNDATION INC

EIN: 621670425 501(c)(3) Philanthropy & Grantmaking

MEMPHIS, TN

Total Revenue
$430,799
Total Expenses
$9,702,227
Total Assets
$11,607,657
Net Assets
$11,607,657
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
TN
Principal Officer
ROBERT M FOCKLER
Phone
9017284600
Tax Period
2024-05-01 to 2025-04-30

THE CANALE FOUNDATION INC, founded in 1997, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $431K in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $9.7M exceeded revenue, resulting in a 2152% operating deficit.

Mission

THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO ASSIST THE COMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. IN CARRYING OUT ITS CHARITABLE MISSION.

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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 $0
Program Service Revenue $0
Investment Income $430,799
Other Revenue $0
TOTAL REVENUE $430,799

Expense Breakdown

Grants Paid $9,582,885
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $9,652,820
Other Expenses $119,342
TOTAL EXPENSES $9,702,227

Year-over-Year Comparison

2024 2023 Change
Revenue $430,799 $627,660 -0.3%
Expenses $9,702,227 $1,182,581 +7.2%
Net Income $-9,271,428 $-554,921 +15.7%
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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Governance

Voting Members
11
Independent Members
5
Employees
N/A
Volunteers
11

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
3
$707,389
Total Directors
11
$1,363,666
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT M FOCKLER PRESIDENT 1.00
Officer Director
$0 $50,479 $455,196
BARBARA S MORA SECRETARY/TREASURER 1.00
Officer Director
$0 $30,543 $252,193
AMY BETH DUDLEY DIRECTOR 1.00
Director
$0 $20,649 $129,301
VERONICA JAMISON DIRECTOR 1.00
Director
$0 $34,012 $202,117
CAROLINE KUEBLER DIRECTOR 1.00
Director
$0 $31,447 $197,808
CHRISTOPHER W CANALE DIRECTOR 1.00
Director
$0 $0 $0
JKENNETH DUDLEY DIRECTOR 1.00
Director
$0 $0 $0
KATHERYN C HORNE DIRECTOR 1.00
Director
$0 $0 $0
COLLEEN CANALE DIRECTOR 1.00
Director
$0 $0 $0
ALEX CANALE CHAIR 1.00
Officer Director
$0 $0 $0
JENNIE DICKERSON DIRECTOR 1.00
Director
$0 $18,337 $127,051
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
2025 $430,799 $9,702,227 $11,607,657 $-9,271,428
2024 $627,660 $1,182,581 $20,252,461 $-554,921
2023 $249,415 $229,545 $20,152,675 $19,870
2022 $1,248,947 $361,534 $20,087,431 $887,413
2021 $822,078 $338,007 $21,136,349 $484,071
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