nonprofit logo

Memphis Land Bank Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 030482299 ✦ Memphis, TN ✦ Designated as a 501(c)(3)

Overview

What is Memphis Land Bank Inc?

Memphis Land Bank Inc is a nonprofit organization situated in Memphis, Tennessee, specifically at 5050 Poplar Ave STE 1714. Their primary focus is on constructing, developing, and managing low-income single-family and duplex housing properties. They collaborate with the local housing authority to provide affordable housing options for low and very low-income families and individuals within the city of Memphis. Their mission is multifaceted, encompassing the acquisition, construction, development, lease, management, operation, sale, and overall dealing with safe and decent housing units. With a team of 37 dedicated employees, Memphis Land Bank Inc works diligently to improve housing accessibility in the community.


Is Memphis Land Bank Inc legitimate?

Memphis Land Bank Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Land Bank Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $252,645
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,146

For more financial information, click here


What is the mission statement of Memphis Land Bank Inc?
Who is the CEO of Memphis Land Bank Inc?
What is the revenue of Memphis Land Bank Inc?
Who are the executives of Memphis Land Bank Inc and what are their salaries?
Where can I find the form 990 for Memphis Land Bank Inc?

Mission Statement of Memphis Land Bank Inc

Memphis Land Bank Inc, as a nonprofit organization, is dedicated to procuring, constructing, developing, leasing, managing, operating, selling, and dealing with safe, decent, and affordable housing. Its primary focus is on assisting the local housing authority in providing housing to low and very low-income families and individuals within its operational capacity. This mission is crucial in ensuring that individuals and families in need have access to suitable living spaces. The organization engages in the construction, development, and management of single-family and duplex low-income housing tax credit properties, further expanding its reach and impact in the housing sector. Through its various initiatives, Memphis Land Bank Inc contributes significantly to the provision of affordable housing and improves living conditions for those in need.

Impact

This information is meant to be a general summary of Memphis Land Bank Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




Wednesday, July 24, 2024

Memphis Land Bank Inc plays a crucial role in providing safe, decent, and affordable housing options for low and very low-income families and individuals in the city of Memphis, Tennessee. By acquiring, constructing, developing, managing, and selling housing properties, the organization directly contributes to improving the living conditions of those in need. Its focus on single-family and duplex low-income housing tax credit properties demonstrates a commitment to addressing the housing challenges faced by vulnerable populations in the community. Through its efforts, Memphis Land Bank Inc positively impacts the local housing landscape and helps in creating a more inclusive and supportive environment for those facing housing insecurities.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $234,203
  • Program Service Revenue: $391,655
  • Gross Receipts: $655,642

    • Assets and Liabilities:
  • Total Assets: $19,099,718
  • Total Liabilities: $8,854,014
  • Net Assets: $10,245,704
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    MANAGEMENT FEES

    Revenue

    $387,615

    GROUND LEASE

    Revenue

    $4,040

    Organization Details

    Founding Year

    2000

    Principal Officer

    J Martin Regan Jr

    Main Address

    5050 POPLAR AVE STE 1714, MEMPHIS, TN, 381571714

    NTEE Category

    Code: S12 - Community improvement

    If you are a representative of Memphis Land Bank Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.