MEMPHIS FOURTH ESTATE 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

2018

Legal Domicile

Principal Officer

ANDY CATES

Phone

9015016397

Tax Period

2024-01-01 to 2024-12-31

MEMPHIS FOURTH ESTATE INC, founded in 2018, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.9M in total revenue in fiscal year 2024. Expenses of $5.7M exceeded revenue, resulting in a 17% operating deficit.

Mission

MEMPHIS FOURTH ESTATE D/B/A THE DAILY MEMPHIAN IS AN INDEPENDENT, NOT-FOR- PROFIT ORGANIZATION WITH THE MISSION OF GATHERING AND DISSEMINATING INFORMATION IN A NONPARTISAN MANNER ABOUT IMPORTANT PUBLIC-POLICY ISSUES AND MATTERS OF IMPORTANCE TO RESIDENTS OF MEMPHIS, TN AND SURROUNDING COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $4,992,930 Revenue: $3,857,419

MEMPHIS FOURTH ESTATE GATHERS AND DISSEMINATES INFORMATION IN A NONPARTISAN MANNER ABOUT IMPORTANT PUBLIC-POLICY ISSUES AND MATTERS OF IMPORTANCE TO RESIDENTS OF THE CITY OF MEMPHIS AND SURROUNDING AREAS, USING INVESTIGATIVE, EXPLANATORY, DATA-DRIVEN AND MULTIMEDIA JOURNALISM THROUGH ITS ONLINE PUBLICATION FOR WHICH IT OFFERS MONTHLY AND ANNUAL SUBSCRIPTIONS. IN ADDITION TO THE ONLINE PUBLICATION, THE ORGANIZATION FULFILLS AN EDUCATIONAL ROLE FOR THE PUBLIC AND FOR JOURNALISTS AND ASPIRING JOURNALISTS THROUGH, AMOUNT OTHER MEANS, INTERNSHIPS AND COLLABORATIVE ACTIVITY WITH LOCAL COLLEGES AND UNIVERSITIES. IT ALSO SEEKS TO ENGAGE THE COMMUNITY BY PROVIDING SEMINAR SERIES, SYMPOSIA, AND WORKSHOPS, BOTH ONLINE AND BY CONVENTIONAL MEANS, ON SUBJECTS OF IMPORTANCE TO THE COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $840,307

Program Service Revenue $158,161

Investment Income $42,902

Other Revenue $3,819,895

TOTAL REVENUE $4,861,265

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,932,001

Fundraising Expenses $132,920

Program Expenses $4,992,930

Other Expenses $3,770,995

TOTAL EXPENSES $5,702,996

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,861,265	$4,790,206	+0.0%
Expenses	$5,702,996	$5,895,681	0.0%
Net Income	$-841,731	$-1,105,475	-0.2%

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

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

$319,369

Total Directors

Key Employees

$160,381

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDY CATES	PRESIDENT	15.00	Director	$0	$0	$0
ROBERT J DAVIS	VICE PRESIDE	5.00	Director	$0	$0	$0
JAMES MACLIN	SECRETARY	2.00	Director	$0	$0	$0
ROSHUN AUSTIN	TREASURER	2.00	Director	$0	$0	$0
NANCY COFFEE	DIRECTOR	1.00	Director	$0	$0	$0
MARY TABOR ENGEL	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD FELSENTHAL	DIRECTOR	1.00	Director	$0	$0	$0
DEANIE PARKER	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN MCENIRY	DIRECTOR	1.00	Director	$0	$0	$0
ERIC BARNES	CEO	40.00	Officer	$150,000	$0	$150,000
JASON ISRAEL	CTO	40.00	Officer	$169,369	$0	$169,369
GEOFFREY CALKINS	COLUMNIST	40.00	Key Emp	$160,381	$0	$160,381

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	$4,861,265	$5,702,996	$1,963,690	$-841,731
2023	$4,790,206	$5,895,681	$2,852,598	$-1,105,475
2022	$6,376,256	$5,533,426	$3,911,759	$842,830
2021	$5,585,999	$5,144,887	$2,591,759	$441,112
2020	$2,890,536	$4,952,213	$2,683,791	$-2,061,677
2019	$3,486,773	$4,849,691	$3,999,289	$-1,362,918
2018	$7,026,563	$2,180,384	$5,036,478	$4,846,179