Totals
- Total revenue
- $8,369,214
- Total expenses
- $7,936,292
- Contributions and grants received
- $8,205,201
- Grants paid
- $0
- Program service revenue
- $144,402
- Investment income
- $0
- Other revenue
- $19,611
- Total assets, end of year
- $5,781,776
- Total liabilities, end of year
- $970,868
- Net assets or fund balances, end of year
- $4,810,908
- Program services expenses (Part IX)
- $7,453,326
- Management and general expenses
- $482,966
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $7,453,326
Program services were 93.9% 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
$8,205,201
-
2a · Program service revenue: STUDENT ACTIVITIES
total $144,402 · related or exempt $144,402
-
11a · Other revenue: MISC REVENUE
total $19,611 · excluded $19,611
-
11e · Other revenue, total
$19,611
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $447,100 · program services $413,657 · management and general $33,443
-
7 · Other salaries and wages
total $2,955,060 · program services $2,734,022 · management and general $221,038
-
9 · Other employee benefits
total $681,167 · program services $626,100 · management and general $55,067
-
10 · Payroll taxes
total $246,700 · program services $216,905 · management and general $29,795
-
11a · Fees: management
total $216,877 · program services $216,877
-
11b · Fees: legal
total $2,395 · program services $2,395
-
11c · Fees: accounting
total $108,115 · program services $108,115
-
11g · Fees: other
total $574,335 · program services $574,335
-
12 · Advertising and promotion
total $9,695 · program services $9,695
-
14 · Information technology
total $112,387 · program services $112,387
-
16 · Occupancy
total $816,632 · program services $816,632
-
20 · Interest
total $1,777 · program services $1,777
-
22 · Depreciation, depletion and amortization
total $143,623 · management and general $143,623
-
23 · Insurance
total $95,869 · program services $95,869
-
24a · Other expenses: REPAIRS
total $712,233 · program services $712,233
-
24b · Other expenses: DIRECT INSTRUCTIONAL MA
total $458,982 · program services $458,982
-
24c · Other expenses: SUPPLIES
total $247,118 · program services $247,118
-
24d · Other expenses: RECRUITING AND RETENTIO
total $57,199 · program services $57,199
-
24e · All other expenses
total $49,028 · program services $49,028
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $757,603 · end of year $964,560
-
2 · Savings and temporary cash investments
beginning of year $879 · end of year $879
-
3 · Pledges and grants receivable
beginning of year $1,751,360 · end of year $2,464,171
-
4 · Accounts receivable
beginning of year $1,799,169 · end of year $170,057
-
9 · Prepaid expenses and deferred charges
beginning of year $163,112 · end of year $184,947
-
10a · Land, buildings and equipment: cost or other basis
$1,730,782
-
10b · Land, buildings and equipment: accumulated depreciation
$1,115,387
-
10c · Land, buildings and equipment, net
beginning of year $766,037 · end of year $615,395
-
15 · Other assets
beginning of year $3,055,608 · end of year $1,381,767
-
17 · Accounts payable and accrued expenses
beginning of year $94,820 · end of year $825,809
-
23 · Secured mortgages and notes payable
beginning of year $249,802 · end of year $0
-
25 · Other liabilities
beginning of year $1,946,060 · end of year $145,059
-
27 · Net assets without donor restrictions
beginning of year $3,744,119 · end of year $4,160,775
-
28 · Net assets with donor restrictions
beginning of year $2,258,967 · end of year $650,133
Mission and programs · 2022
Mission
OUR MISSION IS TO OPERATE A NETWORK OF SCHOOLS AND PROVIDEPRODUCT DRIVEN SOLUTIONS THAT HELP SCHOOLS OPERATE MORE EFFICIENTLY SOTHAT THEY CAN PRIORITIZE THE CORE WORK OF EDUCATING STUDENTS.
Activities or mission (Part I)
WE ARE A SCHOOL MANAGEMENT ORGANIZATION OVER MEMPHIS SCHOLARS, A NETWORK OF THREE PUBLIC CHARTER SCHOOLS THAT ALSO PROVIDES CONTRACTED SUPPORT SERVICES TO OTHERPUBLIC SCHOOLS, PUBLIC CHARTER SCHOOLS, AND EDUCATIONAL ENTITIES. OURMISSION IS TO PROVIDE PRODUCT-DRIVEN SOLUTIONS THAT HELP SCHOOLSOPERATE MORE EFFICIENTLY SO THAT THEY CAN PRIORITIZE THE CORE WORK OFEDUCATING STUDENTS. THESE SOLUTIONS ARE BASED ON BEST PRATICES AND PASTSUCCESSFUL PERFORMANCE.
-
PROVIDED 180+ DAYS OF K-8 EDUCATION TO OVER 700 STUDENTS IN MEMPHIS, TN AND DEVELOPED OPERATIONAL (TEACHER STAFFING, FINANCE, AND HR) SUPPORT SERVICES TO CHARTER SCHOOLS, PUBLIC SCHOOLS, AND OTHER EDUCATIONAL ENTITIES.
Expenses $7,453,326 · Revenue $144,402
As filed on the 2022 return.
Listed in Part VII
-
Cleo GriffinCLEO GRIFFIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas HayesNICHOLAS HAYES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas PattersonNICHOLAS PATTERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Janai DouglasJANAI DOUGLAS
EXECUTIVE DIRECTOR
- Total calculated
- $146,800
- From this org
- $146,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
James DennisJAMES DENNIS
CHIEF STRATEGY OFFICER, CHAIR
- Total calculated
- $151,200
- From this org
- $151,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,200
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $151,200
-
Angela GoodinANGELA GOODIN
CHIEF OPERATING OFFICER
- Total calculated
- $149,100
- From this org
- $149,100
- 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. 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
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 SCHOLARS LLC
ESTABLISH SUPPORT, OPERATE, AND MANAGE CHARTER SCHOOLS IN MEMPHIS, TN · TN · income $8,369,214 · assets $5,781,776
Directly controlled by VERIFIED SOLUTIONS
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 26 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202432409349301213
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