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Nonprofiteer
← MEMPHIS EDUCATION FUND INC

Form 990 for tax year 2022

Filed by MEMPHIS EDUCATION FUND INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 14 November 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,212,155 changed to $3,275,166
Total expenses
$3,557,126 changed to $3,899,062
Contributions and grants received
$4,211,156 changed to $3,144,543
Grants paid
$2,339,312 changed to $2,273,107
Other revenue
$0 changed to $129,624
Total assets, end of year
$5,446,050 changed to $3,358,065
Total liabilities, end of year
$1,026,854 changed to $1,425,571
Net assets or fund balances, end of year
$4,419,196 changed to $1,932,494
Program services expenses
$3,187,289 changed to $2,629,157
Management and general expenses
$369,837 changed to $1,269,905
Program service expenses (Part III)
$3,187,289 changed to $2,629,157

Totals

Total revenue
$4,212,155
Total expenses
$3,557,126
Contributions and grants received
$4,211,156
Grants paid
$2,339,312
Program service revenue
$0
Investment income
$999
Other revenue
$0
Total assets, end of year
$5,446,050
Total liabilities, end of year
$1,026,854
Net assets or fund balances, end of year
$4,419,196
Program services expenses (Part IX)
$3,187,289
Management and general expenses
$369,837
Fundraising expenses
$0
Program service expenses (Part III)
$3,187,289

Program services were 89.6% 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.

  • 1f · All other contributions, gifts and grants

    $4,211,156

  • 3 · Investment income

    total $999 · excluded $999

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,337,432 · program services $2,337,432

  • 2 · Grants to domestic individuals

    total $1,880 · program services $1,880

  • 5 · Compensation of officers, directors and key employees

    total $244,178 · program services $109,880 · management and general $134,298

  • 7 · Other salaries and wages

    total $336,918 · program services $336,918

  • 9 · Other employee benefits

    total $57,722 · program services $44,382 · management and general $13,340

  • 10 · Payroll taxes

    total $37,822 · program services $29,081 · management and general $8,741

  • 11c · Fees: accounting

    total $2,403 · management and general $2,403

  • 11g · Fees: other

    total $24,048 · program services $24,048

  • 13 · Office expenses

    total $92,048 · program services $47,498 · management and general $44,550

  • 14 · Information technology

    total $13,469 · management and general $13,469

  • 16 · Occupancy

    total $310,791 · program services $233,093 · management and general $77,698

  • 17 · Travel

    total $4,696 · program services $3,731 · management and general $965

  • 19 · Conferences, conventions and meetings

    total $8,873 · management and general $8,873

  • 23 · Insurance

    total $25,601 · program services $19,201 · management and general $6,400

  • 24a · Other expenses: MISCELLANEOUS

    total $46,663 · program services $145 · management and general $46,518

  • 24b · Other expenses: COMMUNICATION

    total $7,714 · management and general $7,714

  • 24c · Other expenses: LICENSES AND FEES

    total $2,180 · management and general $2,180

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $1,080 · management and general $1,080

  • 24e · All other expenses

    total $1,608 · management and general $1,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,285,656 · end of year $3,915,571

  • 4 · Accounts receivable

    beginning of year $297,383 · end of year $297,383

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

    $2,079,965

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

    $846,869

  • 10c · Land, buildings and equipment, net

    beginning of year $1,233,096 · end of year $1,233,096

  • 17 · Accounts payable and accrued expenses

    beginning of year $168,816 · end of year $168,816

  • 18 · Grants payable

    beginning of year $192,699 · end of year $192,699

  • 24 · Unsecured notes and loans payable

    beginning of year $67,790 · end of year $67,790

  • 25 · Other liabilities

    beginning of year $622,659 · end of year $597,549

  • 27 · Net assets without donor restrictions

    beginning of year $1,595,959 · end of year $2,250,984

  • 28 · Net assets with donor restrictions

    beginning of year $2,168,212 · end of year $2,168,212

Mission and programs · 2022

Mission

TO WORK IN PARTNERSHIP WITH THE SHELBY COUNTY SCHOOL DISTRICT AND THE ACHIEVEMENT SCHOOL DISTRICT ON STRATEGIES THAT SUPPORT SCHOOL IMPROVEMENT, DEVELOPMENT, AND IMPLEMENTATION OF INITIATIVES FOCUSED ON INCREASING K-12 EDUCATIONAL OUTCOMES IN THE GREATER MEMPHIS, TN AREA.

Activities or mission (Part I)

ESTABLISHING INITIATIVES AND DEVELOPING STRATEGIES TO SUPPORT TEACHERS, SCHOOLS, AND COMMUNITY TO IMPROVE MEMPHIS PUBLIC EDUCATION.

  • DEVELOPMENT AND IMPLEMENTATION OF INITIATIVES FOCUSED ON INCREASING THE K-12 EDUCATIONAL OUTCOMES IN THE GREATER MEMPHIS, TENNESSEE AREA.

    Expenses $3,187,289 · Grants $2,339,312

As filed on the 2022 return.

Listed in Part VII

  • TERENCE PATTERSON

    CEO

    Total calculated
    $264,566
    From this org
    $244,178
    From related orgs
    $0
    Other
    $20,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,178
    Bonus
    $0
    Other
    $0
    Deferred
    $9,880
    Nontaxable benefits
    $10,508
    Filer's total
    $264,566

  • TERESA SLOYAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHELLE ARMSTRONG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DORSEY HOPSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TIMICO BOYKINS-COX

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID MANSOURI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TOMEKA HART

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DARRYL COBB

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • VENITA M DOGGETT

    DIRECTOR OF ADVOCACY

    Total calculated
    $140,520
    From this org
    $126,904
    From related orgs
    $0
    Other
    $13,616
    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

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349324502

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