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Nonprofiteer
← MEMPHIS MERIT ACADEMY

Form 990 for tax year 2024

Filed by MEMPHIS MERIT ACADEMY.

Totals

Total revenue
$6,689,747
Total expenses
$6,612,069
Contributions and grants received
$6,454,719
Grants paid
$0
Program service revenue
$43,473
Investment income
$28,626
Other revenue
$162,929
Total assets, end of year
$13,276,096
Total liabilities, end of year
$12,287,510
Net assets or fund balances, end of year
$988,586
Program services expenses (Part IX)
$4,134,745
Management and general expenses
$2,477,324
Fundraising expenses
$0
Program service expenses (Part III)
$4,134,745

Program services were 62.5% 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)

    $5,798,616

  • 1f · All other contributions, gifts and grants

    $656,103

  • 2a · Program service revenue: SUPPLEMENTAL PROGRAMS

    total $43,473 · related or exempt $43,473

  • 3 · Investment income

    total $28,626 · excluded $28,626

  • 6a · Gross rents

    real property $162,929

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $162,929

  • 6d · Net rental income or loss

    total $162,929 · related or exempt $162,929

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $250,750 · program services $161,723 · management and general $89,027

  • 7 · Other salaries and wages

    total $2,601,295 · program services $1,677,726 · management and general $923,569

  • 9 · Other employee benefits

    total $397,856 · program services $256,600 · management and general $141,256

  • 10 · Payroll taxes

    total $209,214 · program services $134,934 · management and general $74,280

  • 11a · Fees: management

    total $21,708 · program services $788 · management and general $20,920

  • 11b · Fees: legal

    total $11,435 · program services $415 · management and general $11,020

  • 11c · Fees: accounting

    total $26,275 · program services $954 · management and general $25,321

  • 11g · Fees: other

    total $423,418 · program services $15,368 · management and general $408,050

  • 13 · Office expenses

    total $265,193 · program services $97,424 · management and general $167,769

  • 14 · Information technology

    total $173,783 · program services $130,337 · management and general $43,446

  • 20 · Interest

    total $792,990 · program services $713,691 · management and general $79,299

  • 22 · Depreciation, depletion and amortization

    total $437,565 · program services $393,808 · management and general $43,757

  • 24a · Other expenses: UTILITIES

    total $317,453 · program services $285,708 · management and general $31,745

  • 24b · Other expenses: SECURITY

    total $281,630 · program services $10,222 · management and general $271,408

  • 24c · Other expenses: STUDENT ACTIVITIES

    total $128,551 · program services $96,413 · management and general $32,138

  • 24d · Other expenses: TEXTBOOKS

    total $81,187 · program services $29,826 · management and general $51,361

  • 24e · All other expenses

    total $191,766 · program services $128,808 · management and general $62,958

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,215,643 · end of year $802,756

  • 3 · Pledges and grants receivable

    beginning of year $71,069 · end of year $170,609

  • 9 · Prepaid expenses and deferred charges

    end of year $37,867

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

    $12,615,936

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

    $1,642,780

  • 10c · Land, buildings and equipment, net

    beginning of year $11,126,903 · end of year $10,973,156

  • 14 · Intangible assets

    beginning of year $95,078

  • 15 · Other assets

    beginning of year $1,423,222 · end of year $1,291,708

  • 17 · Accounts payable and accrued expenses

    beginning of year $884,955 · end of year $237,783

  • 25 · Other liabilities

    beginning of year $12,187,598 · end of year $12,049,727

  • 27 · Net assets without donor restrictions

    beginning of year $509,491 · end of year $636,901

  • 28 · Net assets with donor restrictions

    beginning of year $349,871 · end of year $351,685

Mission and programs · 2024

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 $4,134,745 · Revenue $206,402

As filed on the 2024 return.

Listed in Part VII

  • AURELIA MCBRIDE

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4.5

  • TALUNJA PROPHET

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    4.5

  • DIMIKA CAVALIER

    SECRETARY

    Total calculated
    $0
    Hours/week
    4.5

  • JOSEPH MCKINNEY

    TREASURER

    Total calculated
    $0
    Hours/week
    4.5

  • LASHAWN LESTER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • REID LANIGAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • ROBIN DIXON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • TIMORIE BELK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • LAKENNA R BOOKER

    HEAD OF SCHOOL

    Total calculated
    $143,046
    From this org
    $143,046
    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.

Provenance

Return type
form_990
Tax year
2024
Filed
19 December 2025
IRS schema version
2024v5.2
Source object
202503569349300105

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