MEMPHIS EQUITY THROUGH ARTS INC

EIN: 814079426 501(c)(3) Arts, Culture & Humanities

MEMPHIS, TN

Total Revenue
$970,958
Total Expenses
$3,040,347
Total Assets
$1,542,974
Net Assets
$923,753
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
TN
Principal Officer
RYCHETTA WATKINS
Phone
9014104100
Tax Period
2024-01-01 to 2024-12-31

MEMPHIS EQUITY THROUGH ARTS INC, founded in 2016, is a small nonprofit in the Arts, Culture & Humanities sector that reported $971K in total revenue in fiscal year 2024. Revenue fell 61% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 213% operating deficit.

Mission

INVESTING IN YOUTH DEVELOPMENT THROUGH TRANSFORMATIVE MUSIC ENGAGEMENT AND CREATING EQUITABLE OPPORTUNITIES FOR BLACK AND BROWN YOUTH IN MEMPHIS

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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 $914,005
Program Service Revenue $0
Investment Income $17,087
Other Revenue $39,866
TOTAL REVENUE $970,958

Expense Breakdown

Grants Paid $439,072
Salaries & Benefits $1,839,699
Fundraising Expenses $414,881
Program Expenses $2,094,468
Other Expenses $761,576
TOTAL EXPENSES $3,040,347

Year-over-Year Comparison

2024 2023 Change
Revenue $970,958 $2,478,974 -0.6%
Expenses $3,040,347 $3,732,390 -0.2%
Net Income $-2,069,389 $-1,253,416 +0.7%
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
8
Independent Members
8
Employees
21
Volunteers
8

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
$241,744
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TARIK WARD BOARD CHAIR 1.00
Officer Director
$0 $0 $0
KENYATTA ANDREWS TREASURER 1.00
Officer Director
$0 $0 $0
JOEY BECKFORD BOARD MEMBER 1.00
Director
$0 $0 $0
KATE DOWD BOARD MEMBER 1.00
Director
$0 $0 $0
SARAH LOCKRIDGE-STECKEL BOARD MEMBER 1.00
Director
$0 $0 $0
JEN MCGRATH BOARD MEMBER 1.00
Director
$0 $0 $0
DR CHARLES MCKINNEY BOARD MEMBER 1.00
Director
$0 $0 $0
TUWISHA ROGERS BOARD MEMBER 1.00
Director
$0 $0 $0
AMBER HAMILTON EXECUTIVE DIRECTOR 40.00
Officer
$225,341 $16,403 $241,744
LAURA LINDENMAYER VICE PRESIDENT, DEVELOPMENT & COMMUNICATIONS 40.00
Highest
$130,027 $13,443 $143,470
RYCHETTA WATKINS VICE PRESIDENT, GRANTMAKING & CAPACITY BUILDING 40.00
Highest
$119,068 $13,437 $132,505
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 $970,958 $3,040,347 $1,542,974 $-2,069,389
2023 $2,478,974 $3,732,390 $3,735,062 $-1,253,416
2022 $2,544,622 $3,881,807 $4,386,497 $-1,337,185
2021 $7,164,597 $2,606,540 $5,874,530 $4,558,057
2020 $2,438,668 $2,719,419 $1,336,849 $-280,751
2019 $3,748,170 $3,422,290 $1,376,813 $325,880
2018 $3,972,937 $3,368,003 $1,057,363 $604,934
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