Memphis Education Fund Inc

Organization Overview

Memphis Education Fund Inc is located in Memphis, TN. The organization was established in 2016. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2020, Memphis Education Fund Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Education Fund Inc 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 12/2020, Memphis Education Fund Inc generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (21.8%) each year. All expenses for the organization totaled $8.6m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (16.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Memphis Education Fund Inc has awarded 120 individual grants totaling $63,603,855. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

ESTABLISHING INITIATIVES AND DEVELOPING STRATEGIES TO ENHANCE PERFORMANCE LEVELS OF PUBLIC SCHOOLS IN THE GREATER MEMPHIS TENNESSEE AREA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DEVELOPMENT AND IMPLEMENTATION OF INITIATIVES FOCUSED ON INCREASING THE K-12 EDUCATIONAL OUTCOMES IN THE GREATER MEMPHIS, TENNESSEE AREA.


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Board, Officers & Key Employees

Name (title)Compensation
Terence Patterson
CEO
$228,294
Tosha D Downey
Director Of Advocacy
$183,413
Darryl Cobb
Chairman
$0
Teresa Sloyan
Board Member
$0
Kevin Huffman
Board Member
$0
Timico Boykins
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Blackline Capital Strategy Group Llc
Consulting Services
$116,000
Crosstown Master Tenant Llc
Building Rental
$307,764
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$5,931,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,931,000
Total Program Service Revenue$0
Investment income $1,046
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $23,665
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,955,711

Grants Awarded

Over the last fiscal year, Memphis Education Fund Inc has awarded $5,602,450 in support to 27 organizations.

Grant RecipientAmount

TEACH FOR AMERICA

Org PageRecipient Profile

New York, NY

PURPOSE: EDUCATIONAL SUPPORT

$1,900,000

RELAY GRADUATE SCHOOL OF EDUCATION

Org PageRecipient Profile

New York, NY

PURPOSE: EDUCATIONAL SUPPORT

$652,000

TENNESSEE CHARTER SCHOOL CENTER

Org PageRecipient Profile

Nashville, TN

PURPOSE: EDUCATIONAL SUPPORT

$525,000

Memphis, TN

PURPOSE: EDUCATIONAL SUPPORT

$450,000

New York, NY

PURPOSE: EDUCATIONAL SUPPORT

$445,000

LEADERSHIP FOR EDUCATIONAL EQUITY

Org PageRecipient Profile

New York, NY

PURPOSE: EDUCATIONAL SUPPORT

$400,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Memphis Education Fund Inc has recieved totaling $3,408,666.

Awarding OrganizationAmount
City Fund

Beaverton, OR

PURPOSE: OPERATING SUPPORT

$1,550,000
J R Hyde Iii Foundation

Memphis, TN

PURPOSE: SUPPORT FOR POLICY AND ADVOCACY TO IMPROVE SCS-ASD K-12 STUDENT OUTCOMES; SUPPORT FOR EDUCATION PIONEERS' ESSER SPECIAL RESEARCH ASSOCIATE COLLABORATION

$775,833
Community Foundation Of Greater Memphis Inc

Memphis, TN

PURPOSE: GENERAL OPERATIONAL SUPPORT

$597,833
$385,000
Bill & Melinda Gates Foundation

Seattle, WA

PURPOSE: K-12 EDUCATION

$100,000
View Grant Recipient Profile

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