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Nonprofiteer
← MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL INC

Form 990 for tax year 2022

Filed by MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL INC.

Totals

Total revenue
$5,464,730
Total expenses
$5,333,214
Contributions and grants received
$5,368,570
Grants paid
$0
Program service revenue
$96,160
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,013,167
Total liabilities, end of year
$442,274
Net assets or fund balances, end of year
$2,570,893
Program services expenses (Part IX)
$4,406,138
Management and general expenses
$924,688
Fundraising expenses
$2,388
Program service expenses (Part III)
$4,406,138

Program services were 82.6% 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)

    $5,105,531

  • 1f · All other contributions, gifts and grants

    $263,039

  • 2a · Program service revenue: OTHER LOCAL REVENUE

    total $76,033 · related or exempt $76,033

  • 2b · Program service revenue: FIELD TRIPS

    total $11,155 · related or exempt $11,155

  • 2c · Program service revenue: SALE OF MERCHANDISE &

    total $8,972 · related or exempt $8,972

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $297,266 · program services $99,416 · management and general $197,850

  • 7 · Other salaries and wages

    total $2,616,032 · program services $2,407,882 · management and general $208,150

  • 8 · Pension plan contributions

    total $73,138 · program services $67,528 · management and general $5,610

  • 9 · Other employee benefits

    total $310,220 · program services $291,460 · management and general $18,760

  • 10 · Payroll taxes

    total $211,571 · program services $170,781 · management and general $40,790

  • 11b · Fees: legal

    total $3,906 · management and general $3,906

  • 11c · Fees: accounting

    total $87,214 · management and general $87,214

  • 11g · Fees: other

    total $348,242 · program services $173,012 · management and general $175,230

  • 13 · Office expenses

    total $98,153 · management and general $95,765 · fundraising $2,388

  • 16 · Occupancy

    total $381,377 · program services $381,377

  • 20 · Interest

    total $136 · program services $136

  • 22 · Depreciation, depletion and amortization

    total $88,118 · program services $88,118

  • 23 · Insurance

    total $39,347 · management and general $39,347

  • 24a · Other expenses: SUPPLIES

    total $436,248 · program services $414,188 · management and general $22,060

  • 24b · Other expenses: BUS LEASING

    total $168,890 · program services $168,890

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $92,314 · program services $92,314

  • 24d · Other expenses: FIELDTRIPS

    total $24,938 · program services $24,938

  • 24e · All other expenses

    total $56,104 · program services $26,098 · management and general $30,006

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $302,459 · end of year $836,122

  • 3 · Pledges and grants receivable

    beginning of year $1,614,135 · end of year $631,425

  • 4 · Accounts receivable

    end of year $770

  • 9 · Prepaid expenses and deferred charges

    end of year $21,083

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

    $800,293

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

    $501,540

  • 10c · Land, buildings and equipment, net

    beginning of year $345,444 · end of year $298,753

  • 14 · Intangible assets

    beginning of year $80,367 · end of year $52,812

  • 15 · Other assets

    beginning of year $1,886,541 · end of year $1,172,202

  • 17 · Accounts payable and accrued expenses

    beginning of year $279,879 · end of year $214,020

  • 24 · Unsecured notes and loans payable

    beginning of year $442,933 · end of year $52,909

  • 25 · Other liabilities

    beginning of year $1,066,757 · end of year $175,345

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,439,377 · end of year $2,570,893

Mission and programs · 2022

Mission

EDUCATING YOUNG MEN IN GRADES SIX THROUGH EIGHT, MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL PREPARES ALL STUDENTS TO EXCEL ACADEMICALLY. WITHIN A RIGOROUS AND DISCIPLINED MIDDLE SCHOOL, STUDENTS BECOME EQUIPPED FOR SUCCESS IN HIGH SCHOOL, COLLEGE, AND LIFE.

Activities or mission (Part I)

THIS ORGANIZATION OPERATES A CHARTER SCHOOL AUTHORIZED BY THE SHELBY COUNTY UNIFIED SCHOOL DISTRICT. IT RECEIVES LOCAL, STATE, AND FEDERAL EDUCATION FUNDING AS WELL AS SUPPLEMENTAL FUNDING FROM THE MEMPHIS GRIZZLIES CHARITABLE FOUNDATION.

  • OPERATION OF A CHARTER SCHOOL FOR YOUNG MEN IN GRADES FIVE THROUGH EIGHT.

    Expenses $4,406,138 · Revenue $96,160

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

Listed in Part VII

  • Ross Glotzbach

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Glenda Yarbrough

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Lou Arrindell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Channin Cochran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cordell Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracee Walls

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Wallace

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amber Garret

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dorsey Hopson II Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elliot Perry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Avis Robinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim Ware

    EXECUTIVE DIRECTOR

    Total calculated
    $211,982
    From this org
    $187,232
    From related orgs
    $0
    Other
    $24,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,232
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,750
    Filer's total
    $211,982

  • John McGreger

    DIRECTOR OF FINANCE

    Total calculated
    $81,200
    From this org
    $78,589
    From related orgs
    $0
    Other
    $2,611
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
TIM WARE'S COMPENSATION IS APPROVED BY THE ORGANIZATION'S BOARD EACH YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
24 February 2024
IRS schema version
2022v5.0
Source object
202440789349300604

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