CONVERGENCE MEMPHIS INC (EIN 854051247) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

JEREMY LESS

Phone

9012721122

Tax Period

2024-07-01 to 2025-06-30

CONVERGENCE MEMPHIS INC, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $266K in total revenue in fiscal year 2024. Revenue surged 1351% from the prior year, signaling strong growth momentum. The organization ran a surplus of $94K, a strong 36% operating margin.

Mission

WORKING TOGETHER TO FACILITATE NEW SOLUTIONS THAT BRING RACIAL EQUITY TO HOMEOWNERSHIP.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $263,750

Program Service Revenue $0

Investment Income $1,843

Other Revenue $0

TOTAL REVENUE $265,593

Expense Breakdown

Grants Paid $0

Salaries & Benefits $136,026

Fundraising Expenses $0

Program Expenses $171,229

Other Expenses $35,203

TOTAL EXPENSES $171,229

Year-over-Year Comparison

	2024	2023	Change
Revenue	$265,593	$18,304	+13.5%
Expenses	$171,229	$25,030	+5.8%
Net Income	$94,364	$-6,726	-15.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$121,016

Total Directors

$121,016

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY SCHAFTLEIN	EXECUTIVE DI	1.00	Officer Director	$19,052	$0	$121,016
MICHELE COUCH	TREASURER	0.50	Officer Director	$0	$0	$0
ANDRE FOWLKES	MEMBER	0.50	Director	$0	$0	$0
JEREMY LESS	BOARD CHAIR	0.50	Officer Director	$0	$0	$0
KEITH TURBETT	MEMBER	0.50	Director	$0	$0	$0

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	$265,593	$171,229	$457,612	$94,364
2024	No data	No data	No data	No data
2023	$433,666	$230,752	$368,594	$202,914
2022	$265,218	$104,288	$161,847	$160,930

CONVERGENCE MEMPHIS INC