Memphis Grizzlies Charitable Foundation
- Assets
- $594.4k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 09/2004
- Data as of
- 06/2022
- EIN
- 20-1356702
Organization Overview
Memphis Grizzlies Charitable Foundation is located in Memphis, TN. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Grizzlies Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Memphis Grizzlies Charitable Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $820.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Memphis Grizzlies Charitable Foundation has awarded 160 individual grants totaling $5,661,954. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Pranica Director | 1 | $0 | |
Sean Tuohy Director | 1 | $0 | |
G Staley Cates Director | 1 | $0 | |
Elliot Perry President | 1 | $0 | |
Abusheri Ohwofasa Executive Director / Secretary | 40 | $66,355 | |
Jason Wexler Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,104,830 |
| Interest on Savings | $315 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,116 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,102,029 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $66,335 |
| Other employee salaries and wages | $305,821 |
| Pension plans, employee benefits | $30,619 |
| Interest | $0 |
| Taxes | $28,830 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $6,012 |
| Printing and publications | $0 |
| Other expenses | $84,261 |
| Total operating and administrative expenses | $544,858 |
| Contributions, gifts, grants paid | $275,800 |
| Total expenses and disbursements | $820,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $573,183 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $21,224 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $594,407 |
| Accounts payable and accrued expenses | $152,860 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $152,860 |
Grants Awarded
Over the last fiscal year, Memphis Grizzlies Charitable Foundation has awarded $275,800 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
YOUTH VILLAGES PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-CHILDREN'S EDUCATION/WELFARE | $20,000 |
NEW BALLET ENSEMBLE & SCHOOL PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-CHILDREN'S EDUCATION/WELFARE | $5,000 |
JUVENILE INTERVENTION AND FAITH-BASED FOLLOW UP (JIFF) PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-CHILDREN'S WELFARE | $20,000 |
CODE CREW PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-MENTORING | $15,000 |
MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL INC PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-EDUCATION | $60,000 |
REACH MEMPHIS PURPOSE: UNDESIGNATED GENERAL OPERATING SUPPORT-EDUCATION/MENTORING | $10,000 |