TENNESSEE VALLEY CENTER FOR MINORITY ECONOMIC DEVELOPMENT INC

MEMPHIS, TN | Shelby County
Economic Development
TENNESSEE VALLEY CENTER FOR MINORITY ECONOMIC DEVELOPMENT INC
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

TENNESSEE VALLEY CENTER FOR MINORITY ECONOMIC DEVELOPMENT INC
58-1370565
145 COURT AVE
MEMPHIS, TN 38103
Shelby County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Economic Development
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • This nonprofit has not received any CRA awards or certifications.
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
S43

S - Community Improvement, Capacity Building

Small Business Development

Organizations that provide technical assistance, venture capital, loans, loan guarantees or other forms of support for individuals or groups who want to establish or expand the operation of a small business enterprise or venture.

IRS Activity Codes info
400
Area development, redevelopment of renewal
403
Attracting new industry or retaining industry in an area
405
Loans or grants for minority businesses
Standard Business Classification (NAICS Code) info
541618
Other Management Consulting Services

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$8
Revenue
$8
Assets
$161.2K

IRS Business Master File Details info

As of March 2024
Exempt Ruling Date info
1981-07
Deductibility Status info
Deductible
Last Tax Filing info
2023
Organization Type info
Corporation
Organization Tax Filing Status info
990 - Required to file Form 990-N - Income less than $25,000 per year
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of March 2024
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2021-09
E-File
990
XML
990
Tax period ending in
2020-09
PDF
990
E-File
990
XML
990
Tax period ending in
2019-09
PDF
990
E-File
990
XML
990
Tax period ending in
2018-09
PDF
990
E-File
990
XML
990
Tax period ending in
2017-09
E-File
990
XML
990
Tax period ending in
2016-09
E-File
990
XML
990

Nonprofit Location

Physical Address info
145 COURT AVE
MEMPHIS, TN 38103
Shelby County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
32820
MSA/MD info
47
State info
157
County info
0042.00
Tract info
Upper
Income Level info
Core-Based Statistical Area info
32820 - Memphis, TN-MS-AR
Combined Statistical Area info
368 - Memphis-Forrest City, TN-MS-AR
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 40.36%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0042.00 Shelby County
Population
Total Population 3,432 926,440
Total Households 2,170 357,839
Income
Median Family Income (Census*) $190,106 $59,621
Median Family Income (2023 FFIEC est.) $79,200 $79,200
Tract Income Percentage 279.53% N/A
Below Poverty Level 9.9% 18.1%
Unemployment Level 3.2% 7.3%
Housing
Total Housing Units 2,586 401,041
Total Owner-Occupied Units 26.6% 55.2%
Total Renter-Occupied Units 57.3% 44.8%
Total Vacant Units 16.1% 8.4%
* Census tract income based on 2020 American Community Survey data as reported in the 2023 FFIEC Census Flat File; County income based on 2022 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

2
Total Voting Members
in Governing Body info
2
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Frank Banks
(901) 331-3826
Principal Officer info
Frank Banks
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2021-09.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.