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Nonprofiteer
← MEMPHIS TEACHER RESIDENCY INC

Form 990 for tax year 2022

Filed by MEMPHIS TEACHER RESIDENCY INC.

Totals

Total revenue
$5,262,203
Total expenses
$5,349,705
Contributions and grants received
$3,692,210
Grants paid
$41,759
Program service revenue
$1,569,993
Investment income
$0
Other revenue
$0
Total assets, end of year
$17,352,776
Total liabilities, end of year
$11,935,269
Net assets or fund balances, end of year
$5,417,507
Program services expenses (Part IX)
$4,340,334
Management and general expenses
$849,483
Fundraising expenses
$159,888
Program service expenses (Part III)
$4,340,334

Program services were 81.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,290,583

  • 1f · All other contributions, gifts and grants

    $2,401,627

  • 2a · Program service revenue: SHELBY COUNTY SCHOOLS

    total $1,257,655 · related or exempt $1,257,655

  • 2b · Program service revenue: TUITION REPAYMENTS

    total $112,461 · related or exempt $112,461

  • 2c · Program service revenue: TUITION

    total $109,877 · related or exempt $109,877

  • 2d · Program service revenue: CAPSTONE EDUCATION GRO

    total $90,000 · related or exempt $90,000

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $41,759 · program services $41,759

  • 5 · Compensation of officers, directors and key employees

    total $124,500 · management and general $112,050 · fundraising $12,450

  • 7 · Other salaries and wages

    total $2,114,710 · program services $1,734,854 · management and general $266,042 · fundraising $113,814

  • 8 · Pension plan contributions

    total $54,807 · program services $42,463 · management and general $9,254 · fundraising $3,090

  • 9 · Other employee benefits

    total $260,620 · program services $201,918 · management and general $44,006 · fundraising $14,696

  • 10 · Payroll taxes

    total $159,927 · program services $123,906 · management and general $27,003 · fundraising $9,018

  • 11g · Fees: other

    total $560,011 · program services $560,011

  • 13 · Office expenses

    total $111,486 · program services $42,106 · management and general $69,380

  • 16 · Occupancy

    total $585,819 · program services $393,967 · management and general $191,852

  • 17 · Travel

    total $28,287 · program services $28,287

  • 22 · Depreciation, depletion and amortization

    total $216,492 · program services $145,050 · management and general $71,442

  • 24a · Other expenses: HOUSING

    total $496,964 · program services $496,964

  • 24b · Other expenses: TRAINING

    total $312,862 · program services $280,197 · management and general $32,665

  • 24c · Other expenses: MARKETING & COMMUNICATI

    total $122,946 · program services $116,126 · fundraising $6,820

  • 24d · Other expenses: MTR COMMUNITY BUILDING

    total $73,801 · program services $73,801

  • 24e · All other expenses

    total $84,714 · program services $58,925 · management and general $25,789

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,400,534 · end of year $4,455,571

  • 3 · Pledges and grants receivable

    beginning of year $50,500 · end of year $19,909

  • 9 · Prepaid expenses and deferred charges

    beginning of year $73,508 · end of year $64,487

  • 10a · Land, buildings and equipment: cost or other basis

    $2,681,472

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,862,903

  • 10c · Land, buildings and equipment, net

    beginning of year $1,015,489 · end of year $818,569

  • 15 · Other assets

    beginning of year $0 · end of year $11,994,240

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,022 · end of year $17,606

  • 25 · Other liabilities

    beginning of year $0 · end of year $11,917,663

  • 27 · Net assets without donor restrictions

    beginning of year $5,429,798 · end of year $4,939,095

  • 28 · Net assets with donor restrictions

    beginning of year $75,211 · end of year $478,412

Mission and programs · 2022

Mission

AS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, MEMPHIS TEACHER RESIDENCY ("MTR") WILL PROVIDE STUDENTS IN LOW-INCOME MEMPHIS NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS IS AVAILABLE TO ANY STUDENT IN MEMPHIS BY RECRUITING, TRAINING, AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.THE VISION OF MTR IS TO USE OUR SPECIFIC WORK WITHIN EDUCATION, IN PARTNERSHIP WITH OTHER HOLISTIC ORGANIZATIONS, TO HELP RESTORE COMMUNITIES SO THAT ALL INDIVIDUALS CAN BECOME EMPOWERED CONTRIBUTORS TO OUR CITY AND PEOPLE OF ALL RACES AND CLASSES CAN ENGAGE WITH ONE ANOTHER IN PEACE.

Activities or mission (Part I)

AS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, THE ORGANIZATION WILL PROVIDE STUDENTS IN OUR PARTNER NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS ANY CHILD IN MEMPHIS RECEIVES BY RECRUITING, TRAINING AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.

  • RECRUIT, EQUIPS, AND RETAINS EDUCATORS AND TEACHERS TO WORK WITHIN MEMPHIS, TENNESSEE UNDER-RESOURCED NEIGHBORHOODS AND PROVIDE THE OPPORTUNITY TO RECEIVE CLASSROOM LEARNING ALONG WITH PRACTICAL EXPERIENCE SINCE THE PROGRAM PARTICIPANTS ARE PAIRED WITH AN EXPERIENCED MENTOR-TEACHER IN THEIR CONTENT AREA FOR FOUR DAYS PER WEEK FOR AN ENTIRE SCHOOL YEAR. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE ENDORSEMENTS FOR ELEMENTARY EDUCATION OR SECONDARY EDUCATION IN MATH, BIOLOGY, PHYSICS, CHEMISTRY, SPANISH, HISTORY OR ENGLISH. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE THE FOLLOWING: : MASTERS OF ARTS IN TEACHING THROUGH CHRISTIAN BROTHERS UNIVERSITY : INTENSIVE CLASSROOM EXPERIENCE WITHIN MEMPHIS UNDER-RESOURCED NEIGHBORHOOD SCHOOLS : STATE OF TENNESSEE EDUCATOR LICENSE : LIVING AND HOUSING STIPEND FOR THE 12 MONTH TRAINING PERIOD : ON-GOING EVALUATION AND MENTORING : LEADERSHIP OPPORTUNITIESTHE ESTIMATED COST FOR EACH PARTICIPANT IN THE 12 MONTH TRAINING PROGRAM IS APPROXIMATELY $51,000. THE NUMBER OF PROGRAM PARTICIPANTS FOR THE YEAR ENDED MAY 31, 2023 IS 25.

    Expenses $4,340,334 · Grants $41,759 · Revenue $1,569,993

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tom Marino

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Dr Maxie Dunnam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Montague

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • David Harris

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Dr Carol Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dorsey Hopson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Montague

    EXECUTIVE DIRECTOR

    Total calculated
    $130,958
    From this org
    $115,383
    From related orgs
    $0
    Other
    $15,575
    Hours/week
    40

  • Megan Salemi

    DIRECTOR OF EDUCATION

    Total calculated
    $131,377
    From this org
    $116,714
    From related orgs
    $0
    Other
    $14,663
    Hours/week
    40

  • Angeline Gardner

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $131,053
    From this org
    $107,741
    From related orgs
    $0
    Other
    $23,312
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333189349311733

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