SOULSVILLE FOUNDATION

EIN: 621719414 501(c)(3) Arts, Culture & Humanities

MEMPHIS, TN

Total Revenue
$3,516,971
Total Expenses
$4,606,732
Total Assets
$7,676,316
Net Assets
$7,423,455
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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
ELIZABETH MONTGOMERY
Phone
9019462535
Tax Period
2024-07-01 to 2025-06-30

SOULSVILLE FOUNDATION, founded in 1997, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.5M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $4.6M exceeded revenue, resulting in a 31% operating deficit.

Mission

THE SOULSVILLE FOUNDATION, A 501(C)(3) ORGANIZATION OVERSEEING THE STAX MUSEUM AND STAX MUSIC ACADEMY, IS DEDICATED TO PERPETUATING THE SOUL OF STAX RECORDS BY PERSERVING ITS RICH CULTURAL LEGACY, EMPOWERING YOUTH WITH THE TOOLS FOR LIFE SUCCESS, AND INSPIRING FUTURE ARTISTS TO PURSUE AND ACHIEVE THEIR DREAMS.

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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 $2,156,339
Program Service Revenue $836,191
Investment Income $63,628
Other Revenue $460,813
TOTAL REVENUE $3,516,971

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,505,812
Fundraising Expenses $267,927
Program Expenses $3,006,466
Other Expenses $2,100,920
TOTAL EXPENSES $4,606,732

Year-over-Year Comparison

2024 2023 Change
Revenue $3,516,971 $4,048,706 -0.1%
Expenses $4,606,732 $4,514,514 +0.0%
Net Income $-1,089,761 $-465,808 +1.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
68
Volunteers
100

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
6
$388,561
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BEVERLY ROBERTSON CHAIRMAN 1.00
Officer Director
$0 $0 $0
MEKA EGWUEKWE VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
MAY WALKER TREASURER 1.00
Officer Director
$0 $0 $0
TOM MARINO SECRETARY 1.00
Officer Director
$0 $0 $0
JAMES MACLIN BOARD MEMBER 1.00
Director
$0 $0 $0
KIRBY DOCKERY BOARD MEMBER 1.00
Director
$0 $0 $0
RICHARD GREENWALD BOARD MEMBER 1.00
Director
$0 $0 $0
ELIZABETH LANDRIGAN-KEOUGH BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN KREMER BOARD MEMBER 1.00
Director
$0 $0 $0
SEAN NORRIS BOARD MEMBER 1.00
Director
$0 $0 $0
ANDRE PERSON BOARD MEMBER 1.00
Director
$0 $0 $0
KELLY RAYNE BOARD MEMBER 1.00
Director
$0 $0 $0
MICHELE SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
ALEXANDRIA SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
ALEX TURLEY BOARD MEMBER 1.00
Director
$0 $0 $0
COURTNEY WEINSTEIN BOARD MEMBER 1.00
Director
$0 $0 $0
BETISE MITCHELL WORLEY PRESIDENT/CEO 40.00
Officer
$215,805 $21,364 $237,169
ELIZABETH MONTGOMERY CFO 40.00
Officer
$136,400 $14,992 $151,392
JEFFREY KOLLATH EXECUTIVE DIRECTOR 40.00
Highest
$129,400 $21,364 $150,764
ISAAC DANIEL EXECUTIVE DIRECTOR 40.00
Highest
$109,414 $316 $109,730
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 $3,516,971 $4,606,732 $7,676,316 $-1,089,761
2024 $4,048,706 $4,514,514 $8,747,072 $-465,808
2023 $4,187,271 $4,276,983 $9,084,384 $-89,712
2022 $2,799,262 $3,615,379 $8,767,759 $-816,117
2021 $2,725,171 $2,794,200 $9,455,990 $-69,029
2020 $3,397,169 $3,186,672 $9,517,019 $210,497
2019 $2,876,745 $3,200,089 $9,259,463 $-323,344
2018 $2,503,872 $2,928,863 $11,345,928 $-424,991
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