GOLD2023

Memphis Dream Center

Hope Renewed. Dreams Fulfilled.

aka Generous Life Foundation   |   Cordova, TN   |  www.memphisdreamcenter.com
GuideStar Charity Check

Memphis Dream Center

EIN: 31-1685087


Mission

The Memphis Dream Center (MDC) is closing the opportunity gap for underserved children and their families by addressing educational inequity, food insecurity and family stability.

Ruling year info

2011

Principal Officer

Mrs. Kelli Fielder Carson

Main address

1800 N Germantown Pkwy

Cordova, TN 38016 USA

Show more contact info

EIN

31-1685087

Subject area info

Human services

Food aid

Foster care

Parent education

Youth development

Population served info

Children and youth

Family relationships

Economically disadvantaged people

At-risk youth

NTEE code info

Human Service Organizations (P20)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Read2Lead After School Program

Read2Lead (R2L) serves K-5th grade children attending Title 1 schools in under-resourced and under-served neighborhoods. We provide high-quality academic and enrichment opportunities and family engagement in an out-of-school time setting. Read2Lead focuses on closing the academic and opportunity gaps for children in a safe, life-giving environment.

Population(s) Served
Children
At-risk youth
Economically disadvantaged people

Where we work

Financials

Memphis Dream Center
Fiscal year: Jan 01 - Dec 31
Financial documents
2022 Generous Life Foundation 2022 Audit
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

0.46

Average of 7.41 over 9 years

Months of cash in 2022 info

SOURCE: IRS Form 990

0.2

Average of 3.8 over 9 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

11%

Average of 3% over 9 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Memphis Dream Center

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Memphis Dream Center

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Memphis Dream Center

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Memphis Dream Center’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$90,014 $10,571 $64,929 -$39,010 $32,631
As % of expenses -55.8% 4.8% 14.9% -6.8% 3.8%
Unrestricted surplus (deficit) after depreciation -$90,561 $9,889 $62,452 -$40,967 $26,701
As % of expenses -56.0% 4.5% 14.3% -7.1% 3.1%
Revenue composition info
Total revenue (unrestricted & restricted) $71,298 $231,169 $525,893 $528,001 $865,409
Total revenue, % change over prior year -77.3% 224.2% 127.5% 0.4% 63.9%
Program services revenue 11.9% 2.9% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.0% 0.0% 0.0% 0.0% 0.0%
Government grants 0.0% 0.0% 8.5% 8.3% 27.2%
All other grants and contributions 88.1% 97.1% 91.5% 91.7% 72.0%
Other revenue 0.0% 0.0% 0.0% 0.0% 0.8%
Expense composition info
Total expenses before depreciation $161,312 $220,598 $435,394 $577,615 $855,002
Total expenses, % change over prior year 3.5% 36.8% 97.4% 32.7% 48.0%
Personnel 0.0% 7.7% 45.7% 57.8% 68.1%
Professional fees 2.6% 0.8% 2.9% 3.5% 2.3%
Occupancy 0.0% 0.0% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 0.0% 0.0% 0.0% 0.0% 0.0%
All other expenses 97.4% 91.5% 51.5% 38.7% 29.6%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $161,859 $221,280 $437,871 $579,572 $860,932
One month of savings $13,443 $18,383 $36,283 $48,135 $71,250
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $9,784 $0 $0 $17,492
Total full costs (estimated) $175,302 $249,447 $474,154 $627,707 $949,674

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 6.0 4.6 4.7 2.4 0.2
Months of cash and investments 6.0 4.6 4.7 2.4 0.2
Months of estimated liquid unrestricted net assets 5.9 4.4 4.0 2.2 1.7
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $80,338 $83,960 $171,638 $116,838 $13,418
Investments $0 $0 $0 $0 $0
Receivables $0 $106 $19,457 $22,339 $163,115
Gross land, buildings, equipment (LBE) $3,800 $13,584 $13,584 $13,584 $35,076
Accumulated depreciation (as a % of LBE) 92.8% 31.0% 49.2% 63.6% 52.9%
Liabilities (as a % of assets) 0.0% 3.1% 4.4% 4.5% 14.3%
Unrestricted net assets $79,724 $89,613 $152,065 $111,098 $137,799
Temporarily restricted net assets $888 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $888 $888 $37,168 $26,564 $36,155
Total net assets $80,612 $90,501 $189,233 $137,662 $173,954

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Principal Officer

Mrs. Kelli Fielder Carson

Number of employees

Source: IRS Form 990

Memphis Dream Center

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
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Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Memphis Dream Center

Board of directors
as of 10/24/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Jane Lawson

Kelli Carson

Phillip Rix

Bobby White

Janna Forbes

Josh Cotten

Cece Glenn

Organizational demographics

SOURCE: Self-reported; last updated 10/24/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability