Nonprofit · EIN 31-1685087
GENEROUS LIFE FOUNDATION
Also known as Memphis Dream Center
Tax-exempt (reinstated) · CORDOVA, TN 38088
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $739,952 | $677,965 | $61,987 | $387,128 | $20,389 | $366,739 |
| December 31, 2024 | 990 | $992,667 | $981,012 | $11,655 | $320,093 | $15,341 | $304,752 |
| December 31, 2023 | 990 | $1,135,088 | $1,015,945 | $119,143 | $335,325 | $42,228 | $293,097 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $733,399
- of which government grants
- $194,146
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $6,553
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $436,563
- Salaries, compensation and benefits (total)
- $497,909
- Professional fundraising fees
- $0
- Accounting fees
- $14,750
- Travel
- $11,303
- Depreciation
- $23,994
- Program services (functional)
- $580,743
- Management and general (functional)
- $87,152
- Fundraising (functional)
- $10,070
Balance sheet and other
- Total assets, start of year
- $320,093
- Total assets, end of year
- $387,128
- Total liabilities, end of year
- $20,389
- Net assets, end of year
- $366,739
- Land, buildings and equipment
- $74,589
- Net assets without donor restrictions
- $323,439
- Net assets with donor restrictions
- $43,300
- Gross receipts
- $739,952
- Employees
- 20
- Volunteers
- 600
- Year formed
- 1998
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JANE LAWSON | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| PHILLIP RIX | TREASURER Trustee or director, Officer | 1 | $0 |
| JOSHUA COTTEN | BOARD MEMBER Trustee or director | 1 | $0 |
| J ERIC STONE | EXECUTIVE DIRECTOR, MDC Trustee or director, Officer | 1 | $0 |
| REYMUNDO MENESES | BOARD MEMBER Trustee or director | 1 | $0 |
| BARBARA DEROUEN | SECRETARY Officer | 1 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KELLI CARSON | PRESIDENT Trustee or director, Officer | 40 | $86,539 | $2,768 |
| JANE LAWSON | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| PHILLIP RIX | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JANNA FORBES | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| BOBBY WHITE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOSH COTTEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CECE GLENN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KELLI CARSON | PRESIDENT Trustee or director, Officer | 40 | $79,539 |
| JANE LAWSON | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| PHILLIP RIX | TREASURER Trustee or director, Officer | 1 | $0 |
| JANNA FORBES | SECRETARY Trustee or director, Officer | 1 | $0 |
| BOBBY WHITE | BOARD MEMBER Trustee or director | 1 | $0 |
| JOSH COTTEN | BOARD MEMBER Trustee or director | 1 | $0 |
| CECE GLENN | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1593, CORDOVA, TN 38088-1593
- In care of
- % THE MEMPHIS DREAM CENTER
- Mailing address (990-N for 2012)
- 1800 N Germantown Parkway, Cordova TN 38016
- Principal officer (990 for 2025)
- ERIC STONE, PO BOX 1593, CORDOVA, TN 38088
- Principal officer (990-N for 2012)
- Danny Parker, 1800 N Germantown Parkway, Cordova TN 38016
- Signed the 990
- ERIC STONE, EXECUTIVE DIRECTOR
- Phone
- (901) 751-0095
- Return prepared by
- WATKINS UIBERALL PLLC
Mission
TO IMPACT THE CITY OF MEMPHIS (AND OTHER URBAN AREAS) WITH EFFECTIVE COMMUNITY SERVICE AND TO PROVIDE RELIEF AND EDUCATION TO THE POOR, DISTRESSED, AND UNDERPRIVILEGED.
Program accomplishments
- READ2LEAD - OBJECTIVE: THE READ2LEAD AFTER-SCHOOL PROGRAM SERVES K-6TH GRADE CHILDREN ATTENDING TITLE 1 SCHOOLS IN UNDER-RESOURCED AND UNDER-SERVED NEIGHBORHOODS. READ2LEAD PROVIDES HIGH QUALITY ACADEMIC AND ENRICHMENT OPPORTUNITIES AND FAMILY ENGAGEMENT IN AND OUT OF SCHOOL TIME SETTING. THIS PROGRAM FOCUSES ON CLOSING THE ACADEMIC AND OPPORTUNITY GAPS FOR CHILDREN IN A SAFE LIFE-GIVING ENVIRONMENT. STATS: 790 STUDENTS SERVED.Expenses $340,000
- FEEDMEMPHIS - OBJECTIVE: FEEDMEMPHIS IS A COMBINATION OF PROGRAMS AND EVENTS ADDRESSING FOOD INSECURITY IN THE CITY OF MEMPHIS. FROM OUR MONTHLY POP UP GROVERY FOOD DRIVES AND MONTHLY FOOD BOX PROGRAMS, DOORSTEP DELIVERY, THE FEEDMEMPHIS INITIATIVE SEEKS TO HELP THOSE EXPERIENCING FOOD INSECURITY BY MEETING TANGIBLE NEEDS. STATS: POP UP GROCERY - 245 FAMILIES, 14,030 LBS OF FOOD. FOOD BOXES - 532.Expenses $100,000
- FAMILY ADVOCACY - OBJECTIVE: THROUGH THE FAMILY ADVOCACY CENTER, WE WANT TO WALK WITH AND BE A SAFE HAVEN FOR FAMILIES NAVIGATING CRISES AND THOSE WHO WALK WITH AND SUPPORT THEM. THIS PROGRAM PROVIDES TANGIBLE NEEDS SUCH AS BEDDING, CLOTHING, DIAPERS, SCHOOL UNIFORMS, AND GROCERIES, AS WELL AS SPIRITUAL AND EMOTIONAL SUPPORT. THE FAMILY ADVOCACY CENTER OFFERS PARENT/GUARDIAN SUPPORT GROUPS. STATS: SERVED 4,880 INDIVIDUALS.Expenses $80,000
- Expenses $60,743
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1685087
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2011
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $387,128
- Income (IRS master file)
- $739,952
Revocation and reinstatement
- Exemption revoked
- May 15, 2010
- Posted by the IRS
- June 9, 2011
- Reinstated
- Effective May 15, 2010
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $739,952 | $677,965 | $387,128 | IRS |
| 990 | December 2024 | $992,667 | $981,012 | $320,093 | XML |
| 990 | December 2023 | $1,135,088 | $1,015,945 | $335,325 | XML |
| 990 | December 2022 | $865,409 | $860,932 | $202,994 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2012 Officer: Danny Parker | December 31, 2012 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1685087).
Questions about GENEROUS LIFE FOUNDATION
- What is the EIN of GENEROUS LIFE FOUNDATION?
- The employer identification number (EIN) of GENEROUS LIFE FOUNDATION is 31-1685087.
- Is GENEROUS LIFE FOUNDATION tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2010 and reinstated it effective May 15, 2010.
- Are donations to GENEROUS LIFE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GENEROUS LIFE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GENEROUS LIFE FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GENEROUS LIFE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of GENEROUS LIFE FOUNDATION?
- The 990 for the year ended December 31, 2025 names ERIC STONE.
- Who are the officers and directors of GENEROUS LIFE FOUNDATION?
- The 990 for the year ended December 31, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does GENEROUS LIFE FOUNDATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $739,952, expenses of $677,965 and total assets of $387,128 at year end.
Other nonprofits in CORDOVA
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- ORPHANOS FOUNDATION EIN 62-1694378 · last filed 990 for 2024
- WESLEY AT MILAN INC EIN 62-1642971 · last filed 990 for 2024
- MEMPHIS YMCA SUPPORT CORPORATION EIN 85-1807706 · last filed 990 for 2025
- EVERYBODY PLAYS EIN 86-2622451 · last filed 990 for 2025
- GIFT OF LIFE MID SOUTH INC EIN 27-1800453 · last filed 990 for 2025
- LEON E SHEPPARD SR CHARITABLE FOUNDATION EIN 38-3903035 · last filed 990-EZ for 2024
- URBAN BICYCLE FOOD MINISTRY EIN 46-2211796 · last filed 990-PF for 2025