Mdcdc Inc
- Assets
- $5.7m
- Revenue
- $5.5m
- Investments
- $233.3k
- Employees
- 10
- Location
- Memphis, TN
- Founding
- 06/2016
- Data as of
- 12/2021
- EIN
- 81-0729268
Organization Overview
Mdcdc Inc, operating under the name Memphis Medical District Collaborative, is located in Memphis, TN. The organization was established in 2016. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Memphis Medical District Collaborative employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Medical District Collaborative 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 12/2021, Memphis Medical District Collaborative generated $5.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Memphis Medical District Collaborative has awarded 73 individual grants totaling $1,035,280. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MEMPHIS MEDICAL DISTRICT COLLABORATIVE (MDCDC) IS A COMMUNITY DEVELOPMENT ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PURPOSE IS TO MAKE THE MEMPHIS MEDICAL DISTRICT MORE VIBRANT, PROSPEROUS, EQUITABLE. THE ORGANIZATION WAS FORMED TO PROVIDE COMMUNITY DEVELOPMENT AND REVITALIZATION OF THE MEMPHIS MEDICAL DISTRICT AND SURROUNDING AREAS THROUGH REAL ESTATE DEVELOPMENT, ECONOMIC DEVELOPMENT, BUSINESS ATTRACTION, JOB GROUWTH, ENCHANCEMENT OF SAFETY AND SECURITY, CLEANING AND LANDSCAPING, MARKETING AND COORDINATION AMOUNG AREA INSTITUTIOS, ORGANIZATIONS, GOVERNMENT ENITITIES BUSINESS AND RESIDENTS. THERE WERE 33,058 EMPLOYEES, STUDENTS, RESIDENTS AND BUSINESS BENEFITED.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abby Sheridan COO | Officer | 40 | $121,758 |
Ben Schulman Director Of Real Estate | Officer | 40 | $121,000 |
Rory Thomas President | Officer | 40 | $85,600 |
Dr Michael Ugwueke Vice - Chair | Trustee | 2 | $0 |
Dr Betty Sue Mcgarvey Treasurer/secretary | Trustee | 2 | $0 |
Mr Scott Blake Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
U3 Advisors Consulting Services | 12/30/21 | $291,338 |
Mydatt Services Inc Dba Block By Block District Ambassadors | 12/30/21 | $507,772 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,329,702 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,158,924 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,488,626 |
| Total Program Service Revenue | $0 |
| Investment income | -$3,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $5,485,350 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $129,592 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $328,358 |
| Compensation of current officers, directors, key employees. | $108,034 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $411,763 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,760 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,976 |
| Fees for services: Accounting | $66,696 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,266 |
| Office expenses | $11,549 |
| Information technology | $15,840 |
| Royalties | $0 |
| Occupancy | $77,387 |
| Travel | $9,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,831 |
| Insurance | $4,293 |
| All other expenses | $1,157,667 |
| Total functional expenses | $2,331,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,185,257 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,081,281 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $75,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,000 |
| Net Land, buildings, and equipment | $14,222 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $233,302 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,260 |
| Total assets | $5,697,322 |
| Accounts payable and accrued expenses | $83,162 |
| Grants payable | $0 |
| Deferred revenue | $80,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $91,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $191,837 |
| Other liabilities | $0 |
| Total liabilities | $445,999 |
| Net assets without donor restrictions | $5,101,323 |
| Net assets with donor restrictions | $150,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,697,322 |
Grants Awarded
Over the last fiscal year, Mdcdc Inc has awarded $50,001 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BH PARTNERS LLC PURPOSE: RE/Improvement | $15,000 |
Memphis, TN PURPOSE: RE/ Improvement | $10,000 |
COLAR VENTURESLLC DBA INKWELL PURPOSE: Real Estate/Improvement | $10,000 |
BETTY J CHESTER TAMAYO PURPOSE: Real Estate/Improvement | $10,000 |
1056 POPLAR AVE APARTMENTS LLC PURPOSE: RE/ Improvement | $5,001 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mdcdc Inc has recieved totaling $350,000.
| Awarding Organization | Amount |
|---|---|
Methodist Lebonheur Healthcare Memphis, TN PURPOSE: 2021 ANNUAL SUPPORT | $350,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |