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Nonprofiteer
← MEMPHIS BUSINESS ACADEMY

Form 990 for tax year 2022

Filed by MEMPHIS BUSINESS ACADEMY.

Totals

Total revenue
$25,443,148
Total expenses
$23,477,775
Contributions and grants received
$24,120,611
Grants paid
$0
Program service revenue
$746,265
Investment income
$361,614
Other revenue
$214,658
Total assets, end of year
$39,379,607
Total liabilities, end of year
$17,016,890
Net assets or fund balances, end of year
$22,362,717
Program services expenses (Part IX)
$15,403,763
Management and general expenses
$8,074,012
Fundraising expenses
$0
Program service expenses (Part III)
$15,403,763

Program services were 65.6% 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)

    $24,085,504

  • 1f · All other contributions, gifts and grants

    $35,107

  • 2a · Program service revenue: STUDENT SERVICES

    total $746,265 · related or exempt $746,265

  • 3 · Investment income

    total $361,614 · excluded $361,614

  • 6a · Gross rents

    real property $398,712

  • 6b · Less rental expenses

    real property $184,054

  • 6c · Rental income or loss

    real property $214,658

  • 6d · Net rental income or loss

    total $214,658 · excluded $214,658

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $279,149 · management and general $279,149

  • 7 · Other salaries and wages

    total $14,306,814 · program services $11,619,059 · management and general $2,687,755

  • 8 · Pension plan contributions

    total -$140,306 · program services -$281,799 · management and general $141,493

  • 9 · Other employee benefits

    total $1,269,052 · program services $1,005,056 · management and general $263,996

  • 10 · Payroll taxes

    total $1,089,929 · program services $869,791 · management and general $220,138

  • 11c · Fees: accounting

    total $5,000 · management and general $5,000

  • 11g · Fees: other

    total $502,787 · program services $204,471 · management and general $298,316

  • 13 · Office expenses

    total $112,367 · management and general $112,367

  • 16 · Occupancy

    total $1,360,302 · management and general $1,360,302

  • 17 · Travel

    total $342,448 · program services $323,800 · management and general $18,648

  • 20 · Interest

    total $564,131 · management and general $564,131

  • 22 · Depreciation, depletion and amortization

    total $894,631 · program services $81,126 · management and general $813,505

  • 23 · Insurance

    total $228,851 · management and general $228,851

  • 24a · Other expenses: OTHER CHARGES

    total $1,463,675 · program services $557,906 · management and general $905,769

  • 24b · Other expenses: SUPPLIES

    total $848,671 · program services $676,998 · management and general $171,673

  • 24c · Other expenses: INTERNAL SCHOOL FUNDS

    total $307,875 · program services $307,875

  • 24d · Other expenses: STUDENT SERVICES

    total $33,067 · program services $33,067

  • 24e · All other expenses

    total $9,332 · program services $6,413 · management and general $2,919

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,452,048 · end of year $7,417,153

  • 3 · Pledges and grants receivable

    beginning of year $1,972,465 · end of year $1,003,133

  • 7 · Other notes and loans receivable

    beginning of year $2,075,256 · end of year $1,694,650

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

    $18,970,288

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

    $5,901,305

  • 10c · Land, buildings and equipment, net

    beginning of year $12,640,131 · end of year $13,068,983

  • 14 · Intangible assets

    beginning of year $2,040,700 · end of year $1,965,109

  • 15 · Other assets

    beginning of year $19,947,654 · end of year $14,230,579

  • 17 · Accounts payable and accrued expenses

    beginning of year $211,189 · end of year $619,970

  • 23 · Secured mortgages and notes payable

    beginning of year $14,608,514 · end of year $13,755,164

  • 25 · Other liabilities

    beginning of year $9,987,852 · end of year $2,641,756

  • 27 · Net assets without donor restrictions

    beginning of year $17,878,877 · end of year $18,252,963

  • 28 · Net assets with donor restrictions

    beginning of year $2,441,822 · end of year $4,109,754

Mission and programs · 2022

Mission

MEMPHIS BUSINESS ACADEMY IS A PUBLIC CHARTER SCHOOL AUTHORIZED BY THE SHELBY COUNTY SCHOOLS BOARD OF EDUCATION. THE MISSION OF THE SCHOOL IS TO IMPROVE THE ACADEMIC ACHIEVEMENT OF ELEMENTARY, MIDDLE AND HIGH SCHOOLS IN MATH, SCIENCE, SOCIAL STUDIES AND LANGUAGE ARTS WITH A BUSINESS/FINANCE EMPHASIS.

Activities or mission (Part I)

MEMPHIS BUSINESS ACADEMY IS A PUBLIC CHARTER SCHOOL AUTHORIZED BY THE SHELBY COUNTY SCHOOLS BOARD OF EDUCATION. THE MISSION OF THE SCHOOL IS TO IMPROVE THE ACADEMIC ACHIEVEMENT OF ELEMENTARY, MIDDLE, AND HIGH SCHOOLS IN MATH, SCIENCE, SOCIAL STUDIES AND LANGUAGE ARTS WITH A BUSINESS/FINANCE EMPHASIS.

  • THE MISSION OF THE SCHOOL IS TO IMPROVE THE ACADEMIC ACHIEVEMENT OF ELEMENTARY, MIDDLE AND HIGH SCHOOLS IN MATH, SCIENCE, SOCIAL STUDIES AND LANGUAGE ARTS WITH A BUSINESS/FINANCE EMPHASIS.

    Expenses $15,403,763 · Revenue $746,265

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

Listed in Part VII

  • ZACHARY BEASLEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • SIRGREGORY THORNTON

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • TONY REEDER

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JOSE CASTRO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GLENDA CLARK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • YOLANDA COX

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTIN MCCAIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NANCY S REEVES

    CFO

    Total calculated
    $96,761
    From this org
    $96,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • ANTHONY ANDERSON

    CEO

    Total calculated
    $206,388
    From this org
    $182,388
    From related orgs
    $0
    Other
    $24,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,388
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,000
    Filer's total
    $206,388

  • DR MENTHIA P BRADLEY

    FORMER COO

    Total calculated
    $112,054
    From this org
    $112,054
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,054
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $112,054

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

None.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
24 January 2024
IRS schema version
2022v5.0
Source object
202440249349301404

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