Totals
- Total revenue
- $5,640,340
- Total expenses
- $5,853,082
- Contributions and grants received
- $5,344,568
- Grants paid
- $0
- Program service revenue
- $40,573
- Investment income
- $37,139
- Other revenue
- $218,060
- Total assets, end of year
- $13,931,915
- Total liabilities, end of year
- $13,072,553
- Net assets or fund balances, end of year
- $859,362
- Program services expenses (Part IX)
- $3,607,340
- Management and general expenses
- $2,245,742
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,607,340
Program services were 61.6% 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)
$4,795,699
-
1f · All other contributions, gifts and grants
$548,869
-
2a · Program service revenue: SUPPLEMENTAL PROGRAMS
total $40,573 · related or exempt $40,573
-
3 · Investment income
total $37,139 · excluded $37,139
-
6a · Gross rents
real property $218,060
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $218,060
-
6d · Net rental income or loss
total $218,060 · related or exempt $218,060
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $202,126 · management and general $202,126
-
6 · Compensation of disqualified persons
total $2,198,021 · program services $1,521,913 · management and general $676,108
-
9 · Other employee benefits
total $413,279 · program services $262,057 · management and general $151,222
-
11g · Fees: other
total $1,215,826 · program services $641,075 · management and general $574,751
-
16 · Occupancy
total $77,196 · program services $69,476 · management and general $7,720
-
22 · Depreciation, depletion and amortization
total $459,304 · program services $413,374 · management and general $45,930
-
24a · Other expenses: SUPPLIES & MATERIALS
total $677,377 · program services $185,097 · management and general $492,280
-
24b · Other expenses: DEBT SERVICE
total $370,908 · program services $333,817 · management and general $37,091
-
24c · Other expenses: OTHER
total $234,055 · program services $175,541 · management and general $58,514
-
24d · Other expenses: INTERNAL SCHOOL FUNDS
total $4,990 · program services $4,990
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $527,483 · end of year $1,215,643
-
3 · Pledges and grants receivable
beginning of year $496,061 · end of year $71,069
-
9 · Prepaid expenses and deferred charges
beginning of year $9,176 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$12,332,994
-
10b · Land, buildings and equipment: accumulated depreciation
$1,206,091
-
10c · Land, buildings and equipment, net
beginning of year $2,392,894 · end of year $11,126,903
-
14 · Intangible assets
beginning of year $171,239 · end of year $95,078
-
15 · Other assets
beginning of year $554,910 · end of year $1,423,222
-
17 · Accounts payable and accrued expenses
beginning of year $217,270 · end of year $884,955
-
19 · Deferred revenue
beginning of year $74,915 · end of year $0
-
25 · Other liabilities
beginning of year $2,773,864 · end of year $12,187,598
-
27 · Net assets without donor restrictions
beginning of year $819,336 · end of year $509,491
-
28 · Net assets with donor restrictions
beginning of year $266,378 · end of year $349,871
Mission and programs · 2023
Mission
MEMPHIS MERIT ACADEMY CHARTER SCHOOL PREPARES KINDERGARTEN THROUGH 8TH-GRADE STUDENTS IN MEMPHIS FOR SUCCESS IN HIGH SCHOOL, COLLEGE, AND LIFE BY PROVIDING RIGOROUS ACADEMICS, HIGH-QUALITY INSTRUCTION, AND CHARACTER DEVELOPMENT IN A SUPPORTIVE SCHOOL ENVIRONMENT.
-
PROGRAM SERVICES CONSIST OF PROVIDING EDUCATIONAL CURRICULUM AND INSTRUCTION IN AN EFFORT TO DEVELOP ACADEMIC ACUMEN AND LEADERSHIP SKILLS NECESSARY FOR STUDENTS TO EXCEL IN HIGH SCHOOL, THRIVE IN COLLEGE, AND LEAD LIVES FULL OF OPPORTUNITY.
Expenses $3,607,340 · Revenue $258,633
As filed on the 2023 return.
Listed in Part VII
-
Angelia AllenANGELIA ALLEN
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Timorie BelkTIMORIE BELK
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Dimika CavalierDIMIKA CAVALIER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tressa JohnsonTRESSA JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lashawn LesterLASHAWN LESTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Aurelia McBrideAURELIA MCBRIDE
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Joseph McKinneyJOSEPH MCKINNEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Melissa MooreMELISSA MOORE
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Talunja ProphetTALUNJA PROPHET
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Stacey RichardsSTACEY RICHARDS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lakenna BookerLAKENNA BOOKER
HEAD OF SCHOOL
- Total calculated
- $118,672
- From this org
- $118,672
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Betty McClineBETTY MCCLINE
DIRECTOR OF OPERATIONS
- Total calculated
- $83,454
- From this org
- $83,454
- From related orgs
- $0
- Other
- $0
- 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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
MEMPHIS MERIT ACADEMY REAL ESTATE LLC
CONSTRUCTION AND OWNERSHIP OF SCHOOL'S BUILDING AND FACILITIES · TN · income $255,199 · assets $700,736
Directly controlled by MEMPHIS MERIT ACADEMY INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520499349302052
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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