CONTEMPORARY ARTS MEMPHIS

EIN: 883444325 501(c)(3) Arts, Culture & Humanities

MEMPHIS, TN

Total Revenue
$1,757,755
Total Expenses
$953,704
Total Assets
$1,670,122
Net Assets
$1,084,087
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
TN
Principal Officer
AMY KEITH
Phone
9012100116
Tax Period
2024-01-01 to 2024-12-31

CONTEMPORARY ARTS MEMPHIS, founded in 2022, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 95% from the prior year, signaling strong growth momentum. The organization ran a surplus of $804K, a strong 46% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE EDUCATION IN THE ARTS TO YOUNG ADULTS AND TO SUPPORT ARTISTS GENERALLY, PARTICULARLY THOSE FROM AN UNDERPRIVELEGED OR LOW-INCOME BACKGROUND OR WHO WOULD OTHERWISE FACE HARDSHIP OR BARRIERS TO ENTRY IN PURSUING ART AND ART EDUCATION OR IN ENTERING THE ART WORLD.

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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 $1,752,526
Program Service Revenue $2,452
Investment Income $2,777
Other Revenue $0
TOTAL REVENUE $1,757,755

Expense Breakdown

Grants Paid $0
Salaries & Benefits $334,794
Fundraising Expenses $91,864
Program Expenses $645,359
Other Expenses $618,910
TOTAL EXPENSES $953,704

Year-over-Year Comparison

2024 2023 Change
Revenue $1,757,755 $902,448 +0.9%
Expenses $953,704 $685,433 +0.4%
Net Income $804,051 $217,015 +2.7%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
18
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
6
$155,617
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN COHEN DIRECTOR 1.00
Director
$0 $0 $0
DEREK FORDJOUR DIRECTOR 5.00
Director
$0 $0 $0
ISAAC FORDJOUR DIRECTOR 1.00
Director
$0 $0 $0
LIA FORDJOUR TREASURER 1.00
Officer Director
$0 $0 $0
LAUREN KENNEDY DIRECTOR 1.00
Director
$0 $0 $0
YASHUA KLOS DIRECTOR 1.00
Director
$0 $0 $0
LISA OPOKU PRESIDENT 1.00
Officer Director
$0 $0 $0
ELLIOT PERRY DIRECTOR 1.00
Director
$0 $0 $0
MANON SLOME DIRECTOR 1.00
Director
$0 $0 $0
ED STANTON III SECRETARY 1.00
Officer Director
$0 $0 $0
AMY KEITH CFO 10.00
Officer
$8,156 $0 $8,156
CHRISTY GILMOUR CSO 10.00
Officer
$69,715 $0 $69,715
DEREK PATTERSON EXECUTIVE DIRECTOR 10.00
Officer
$77,746 $0 $77,746
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 $1,757,755 $953,704 $1,670,122 $804,051
2023 $902,448 $685,433 $287,236 $217,015
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