VIBRANT MEMPHIS INC

EIN: 820904035 501(c)(3) Community Improvement

MEMPHIS, TN

Total Revenue
$2,621,131
Total Expenses
$3,611,345
Total Assets
$16,065,247
Net Assets
$12,508,192
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
TN
Principal Officer
ANTHONY YOUNG
Phone
9015006368
Tax Period
2023-01-01 to 2023-12-31

VIBRANT MEMPHIS INC, founded in 2017, is a community nonprofit in the Community Improvement sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 106% from the prior year, signaling strong growth momentum. Expenses of $3.6M exceeded revenue, resulting in a 38% operating deficit.

Mission

ACT AS THE HUB FOR ENTREPRENEURIAL SUPPORT IN MEMPHIS, CREATING 500 COMPANIES AND SERVING 1000 ENTREPRENEURS IN 10 YEARS THROUGH ATTRACTION AND DEVELOPMENT OF TALENT, CONVERTING IDEAS TO BUSINESSES, ATTRACTING CAPITAL, AND ASSISTING IN CUSTOMER ACQUISITION.

Program Service Accomplishments

Program 1
Expenses: $2,403,504 Revenue: $107,462

PROVIDING A FULL-RANGE OF ENTREPRENEURIAL SUPPORT SERVICES INCLUDING MENTORSHIP AND EXECUTIVES IN RESIDENCE, BOOT CAMP TRAINING, INCUBATION AND COWORKING, ATTRACTION OF NEW DEBT AND EQUITY CAPITAL...

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PROVIDING A FULL-RANGE OF ENTREPRENEURIAL SUPPORT SERVICES INCLUDING MENTORSHIP AND EXECUTIVES IN RESIDENCE, BOOT CAMP TRAINING, INCUBATION AND COWORKING, ATTRACTION OF NEW DEBT AND EQUITY CAPITAL, NETWORKING AND EVENTS, CORPORATE AND CUSTOMER ENGAGEMENT. WORKING WITH PARTNERS TO STRENGTHEN THE ENTREPRENEURIAL ECOSYSTEM SO THAT AVAILABLE RESOURCES ARE DEPLOYED EFFECTIVELY. SERVICES DESIGNED TO BRING BENEFITS OF ECONOMIC DEVELOPMENT TO ALL RESIDENTS OF MEMPHIS EQUITABLY, WITH DIVERSITY AND INCLUSION A CRITICAL PART OF ALL THAT EPICENTER DOES.

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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 $2,216,406
Program Service Revenue $183,257
Investment Income $192,129
Other Revenue $29,339
TOTAL REVENUE $2,621,131

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,331,369
Fundraising Expenses $270,132
Program Expenses $2,403,504
Other Expenses $2,279,976
TOTAL EXPENSES $3,611,345

Year-over-Year Comparison

2023 2022 Change
Revenue $2,621,131 $1,271,310 +1.1%
Expenses $3,611,345 $3,508,340 +0.0%
Net Income $-990,214 $-2,237,030 -0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
10
Employees
19
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
5
$325,679
Total Directors
12
$325,679
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JESSICA TAVEAU FORMER PRESIDENT & CEO 40.00
Officer Director
$167,469 $0 $167,469
RUSSELL INGRAM SECRETARY & COO 40.00
Officer Director
$158,210 $0 $158,210
DAVID WADDELL DEPARTING CHAIRMAN 5.00
Officer Director
$0 $0 $0
SHEA FLINN DIRECTOR 2.00
Director
$0 $0 $0
KAYLA GRAFF DIRECTOR 2.00
Director
$0 $0 $0
KOJO MCLENNON CHAIRMAN 2.00
Officer Director
$0 $0 $0
ALFRED WASHINGTON DIRECTOR 2.00
Director
$0 $0 $0
SPENCE WILSON JR TREASURER 2.00
Officer Director
$0 $0 $0
PHILIP SPINOSA JR DIRECTOR 2.00
Director
$0 $0 $0
LISA ROSSMEYER WADE DIRECTOR 2.00
Director
$0 $0 $0
AARTI BOWMAN DIRECTOR 2.00
Director
$0 $0 $0
GLORIA BOYLAND DIRECTOR 2.00
Director
$0 $0 $0
FAYRE CROSSLEY CHIEF GRANTS & COMPLIANCE OFFICER 40.00
Highest
$105,469 $0 $105,469
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 $2,621,131 $3,611,345 $16,065,247 $-990,214
2022 $1,271,310 $3,508,340 $17,288,383 $-2,237,030
2021 $2,783,167 $3,673,138 $19,880,886 $-889,971
2020 $5,366,483 $4,237,786 $18,883,735 $1,128,697
2019 $6,744,279 $3,804,488 $16,461,532 $2,939,791
2018 $14,745,311 $3,642,354 $13,328,599 $11,102,957
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