Civic Intelligence

Promise Academy Inc

990 • Fiscal year 2014 • EIN 20-1608155

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 26, 2015

Organization ProfilePROMISEACADEMY.COM
1346 Bryan St38108

(901) 324-4456

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

69th percentile

0.31x

Higher debt load relative to assets than 69% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

41st percentile

0.07x

Higher debt load relative to revenue than 41% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

37th percentile

-0.9%

Higher net margin than 37% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

76th percentile

$117,399

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

58th percentile

7.0%

Faster revenue growth than 58% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$1,042,756

Up $108,405 (+12%) from 2013

Net Assets

Down

$716,412

Down $40,396 (-5.3%) from 2013

Liabilities

Up

$326,344

Up $148,801 (+84%) from 2013

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin37th percentile

Revenue

$4,567,777

No earlier filing loaded for comparison.

Expenses

Up

$4,608,173

Up $512,435 (+13%) from 2013

Net Income

-$40,396

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $518,262Liabilities 2010: $309,191Net Assets 2010: $209,0712010Assets 2011: $656,720Liabilities 2011: $400,386Net Assets 2011: $256,3342011Assets 2012: $689,227Liabilities 2012: $259,593Net Assets 2012: $429,6342012Assets 2013: $934,351Liabilities 2013: $177,543Net Assets 2013: $756,8082013Assets 2014: $1,042,756Liabilities 2014: $326,344Net Assets 2014: $716,4122014Assets 2015: $1,468,095Liabilities 2015: $1,106,437Net Assets 2015: $361,6582015Assets 2016: $2,302,246Liabilities 2016: $1,762,789Net Assets 2016: $539,4572016Assets 2017: $1,514,707Liabilities 2017: $731,109Net Assets 2017: $783,5982017Assets 2018: $2,024,890Liabilities 2018: $598,947Net Assets 2018: $1,425,9432018Assets 2019: $2,317,903Liabilities 2019: $605,044Net Assets 2019: $1,712,8592019Assets 2020: $3,073,738Liabilities 2020: $1,357,432Net Assets 2020: $1,716,3062020Assets 2021: $3,483,000Liabilities 2021: $479,116Net Assets 2021: $3,003,8842021Assets 2022: $7,397,276Liabilities 2022: $3,657,125Net Assets 2022: $3,740,1512022Assets 2023: $4,499,082Liabilities 2023: $1,120,556Net Assets 2023: $3,378,5262023Assets 2024: $4,194,373Liabilities 2024: $1,093,959Net Assets 2024: $3,100,4142024Assets 2025: $3,749,890Liabilities 2025: $876,637Net Assets 2025: $2,873,2532025

Highlighted filing

2014

Assets$1,042,756
Liabilities$326,344
Net Assets$716,412
Open 2014 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,314,5672010Revenue 2011: $3,726,180Expenses 2011: $3,678,917Net Income 2011: $47,2632011Expenses 2012: $3,895,8962012Expenses 2013: $4,095,7382013Revenue 2014: $4,567,777Expenses 2014: $4,608,173Net Income 2014: -$40,3962014Revenue 2015: $4,802,415Expenses 2015: $4,473,490Net Income 2015: $328,9252015Revenue 2016: $4,590,209Expenses 2016: $4,412,410Net Income 2016: $177,7992016Revenue 2017: $4,670,597Expenses 2017: $4,426,456Net Income 2017: $244,1412017Revenue 2018: $4,648,895Expenses 2018: $4,534,681Net Income 2018: $114,2142018Revenue 2019: $5,177,346Expenses 2019: $4,890,430Net Income 2019: $286,9162019Revenue 2020: $4,883,444Expenses 2020: $4,879,997Net Income 2020: $3,4472020Revenue 2021: $5,120,394Expenses 2021: $4,485,883Net Income 2021: $634,5112021Revenue 2022: $6,428,391Expenses 2022: $5,692,124Net Income 2022: $736,2672022Revenue 2023: $5,346,212Expenses 2023: $5,741,547Net Income 2023: -$395,3352023Revenue 2024: $5,290,516Expenses 2024: $5,568,628Net Income 2024: -$278,1122024Revenue 2025: $5,159,361Expenses 2025: $5,386,522Net Income 2025: -$227,1612025

Highlighted filing

2014

Revenue$4,567,777
Expenses$4,608,173
Net Income-$40,396
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 26, 2015
Return Version
2013v4.0
Gross Receipts
$4,573,567
Mission and Program Overview

Mission

Our central and only work is to teach and inspire the mind, body and spirit of our children so that they can succeed in any academic or cultural setting. Promise academy is committed to preparing children to excel in the nation's most regorous schools.

Our purpose is to teach and inspire our children so that they can succeed in any setting.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$651,919$758,644▲ $106,725
Land, Buildings, and Equipment, Net$138,529$157,202▲ $18,673
Accounts Receivable$95,987$87,342▼ $8,645
Prepaid Expenses and Deferred Charges$47,916$39,568▼ $8,348
Total Assets$934,351$1,042,756▲ $108,405
Liabilities
Accounts Payable and Accrued Expenses$177,543$326,344▲ $148,801
Total Liabilities$177,543$326,344▲ $148,801
Net Assets / Fund Balance
Unrestricted Net Assets$612,290$559,210▼ $53,080
Temporarily Rstr Net Assets$144,518$157,202▲ $12,684
Total Net Assets Fund Balance$756,808$716,412▼ $40,396
Total Liabilities and Net Assets / Fund Balance$934,351$1,042,756▲ $108,405

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$157,202$314,778$471,980
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas a BeazleyExecutive DirectorFT$103,001$14,398$117,399

Board Members and Trustees

NameTitle
Charles C GerberPresident and Chairman
Diana BurtonDirector
Emily WoodsideDirector
Father Colenzo HubbardDirector
J Lewis WardlawDirector
Jamal MccallDirector
Johnny MooreDirector
Mary GarrisonDirector
Mary CornpropstAssistant Treasurer
Grady GarrisonSecretary
R Andrew TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,533,455
Program Service Revenue
$0
Investment Income
$1,227
Other Revenue
$33,095
All Other Contributions
$4,219,349
Change in Net Assets
$-40,396

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,567,777
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,145
Total Revenue per Audited Statements
$4,571,922
Total Revenue per Form 990
$4,567,777
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,915,781
Other Expenses$1,692,392
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,883,524$627,842-$2,511,366
Occupancy$319,273$56,342-$375,615
Insurance$262,698$87,565-$350,263
Fees for Services Other-$246,089-$246,089
Pension Plan Contributions$159,999$53,333-$213,332
Payroll Taxes$143,312$47,771-$191,083
All Other Expenses$80,914$6,420-$87,334
Other Expenses$68,729$15,732-$68,729
Depreciation Depletion$54,245--$54,245
Office Expenses-$47,234-$47,234
Fees for Services Accounting-$24,968-$24,968
Travel$491$163-$654
Total Functional Expenses$3,355,629$1,252,544$0$4,608,173

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,612,318
Expenses per Audited Statements$4,608,173
Total Expenses per Form 990$4,608,173
Expenses Not Reported on Form 990$4,145
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,231
Fundraising Direct Expenses$5,092
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Charles gerber and andy taylor are business partners; they employ mary cornpropst as their chief financial officer. Mary garrison is grady garrison's spouse.”

Form 990, Part VI, Section B, Line 11

“The finance committee presents the form 990 to the board of directors for review at a monthly meeting.”

Form 990, Part VI, Section B, Line 12C

“Grady garrison, the board attorney, monitors this at monthly meetings.”

Form 990, Part VI, Section B, Line 15

“Compensation is based on comparable salaries in the area.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST.”

Form 990, Part VII

“R. Andrew taylor - one commerce square, suite 1900, memphis, tn 38103. Charles c. Gerber - one commerce square, suite 1900, memphis, tn 38103. Grady garrison - 165 madison avenue, suite 2000, memphis, tn 38103. Diana burton - 3670 hacks cross rd, bldg g, 3rd floor, memphis, tn 38125. Mary cornpropst - 2930 waterleaf drive, germantown, tn 38138. Father colenzo hubbard - 604 st. Paul avenue, memphis, tn 38126. Johnny moore - 999 s. Shady grove road, suite 202, memphis, tn 38120. Emily woodside - 1602 east clanlo drive, memphis, tn 38104. Jamal mccall - 2670 union avenue extd, suite 1100, memphis, tn 38112. Mary garrison - 4409 walnut grove rd., memphis, tn 38117. J. Lewis wardlaw - 6410 poplar avenue, suite 1000, memphis, tn 38119.”

Filing and Contact Details

Filer

EIN
20-1608155
Phone
9013244456

Signing Officer

Name
R Andrew Taylor
Title
Treasurer
Phone
9013244456
Signed
2015-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles C Gerber
Formed
2004
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
11
Employees
80
Volunteers
25

Preparer

Preparer
Frank P Lamanna CPA
Phone
9016838899
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No change from prior year.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 5,092. Gain on the sale of asset -1,227.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 5,092. Gain on the sale of asset -1,227.”

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IRS990/MissionDesc0OUR CENTAL WORK IS TO TEACH AND INSPIRE THE MIND, BODY AND SPIRIT OF OUR CHILDREN SO THAT THEY CAN RISE ABOVE THE REST AND SUCCEED IN ANY ACADEMIC AND CULTURAL SETTING. PROMISE ACADEMY IS COMMITTED TO PREPARING CHILDREN TO EXCEL IN THE NATION'S MOST RIGOROUS SCHOOLS.
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01227
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt05139
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt05139
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt056342
IRS990/OccupancyGrp/ProgramServicesAmt0319273
IRS990/OccupancyGrp/TotalAmt0375615
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt047234
IRS990/OfficeExpensesGrp/TotalAmt047234
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TEXTBOOKS
IRS990/OtherExpensesGrp/Desc1SCHOOL SUPPLIES
IRS990/OtherExpensesGrp/Desc2STAFF DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3CONTRACT INSTRUCTORS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt039085
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt115732
IRS990/OtherExpensesGrp/ProgramServicesAmt0228316
IRS990/OtherExpensesGrp/ProgramServicesAmt191198
IRS990/OtherExpensesGrp/ProgramServicesAmt262930
IRS990/OtherExpensesGrp/ProgramServicesAmt368729
IRS990/OtherExpensesGrp/TotalAmt0228316
IRS990/OtherExpensesGrp/TotalAmt1130283
IRS990/OtherExpensesGrp/TotalAmt278662
IRS990/OtherExpensesGrp/TotalAmt368729
IRS990/OtherRevenueMiscGrp/BusinessCd0611710
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2611710
IRS990/OtherRevenueMiscGrp/Desc0UNIFORMS
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/Desc2SUPPLY FEE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt014019
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt18723
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt24554
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt014019
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt18723
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt24554
IRS990/OtherRevenueTotalAmt027956
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0627842
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01883524
IRS990/OtherSalariesAndWagesGrp/TotalAmt02511366
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt047771
IRS990/PayrollTaxesGrp/ProgramServicesAmt0143312
IRS990/PayrollTaxesGrp/TotalAmt0191083
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt053333
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0159999
IRS990/PensionPlanContributionsGrp/TotalAmt0213332
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt047916
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt039568
IRS990/PrincipalOfficerNm0CHARLES C GERBER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt04397026
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt01483918
IRS990/PYOtherRevenueAmt025886
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0327174
IRS990/PYSalariesCompEmpBnftPaidAmt02611820
IRS990/PYTotalExpensesAmt04095738
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04422912
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-40396
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0280
IRS990ScheduleD/DonatedServicesUseFcltsAmt0280
IRS990ScheduleD/EquipmentGrp/BookValueAmt0157202
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0314778
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0471980
IRS990ScheduleD/ExpensesNotReportedAmt04145
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04608173
IRS990ScheduleD/OtherExpensesIncludedAmt03865
IRS990ScheduleD/OtherRevenueAmt03865
IRS990ScheduleD/RevenueNotReportedAmt04145
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04567777
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES 5,092. GAIN ON THE SALE OF ASSET -1,227.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES 5,092. GAIN ON THE SALE OF ASSET -1,227.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0157202
IRS990ScheduleD/TotalExpensesPerForm990Amt04608173
IRS990ScheduleD/TotalRevenuePerForm990Amt04567777
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04571922
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04612318
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PROMISE ACADEMY INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL AND ACCEPTS STUDENTS OF ALL RACES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1PROMISE ACADEMY INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL. NO FEES ARE CHARGED; NO SCHOLARSHIPS NEEDED.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL RECEIVES FUNDS FROM SHELBY COUNTY SCHOOLS AND THE STATE OF TENNESSEE BASED ON A PER-PUPIL ALLOCATION; THE SCHOOL ALSO RECEIVES FEDERAL TITLE I FUNDING THAT PROVIDES FINANCIAL ASSISTANCE TO LOW INCOME AREA SCHOOLS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHARLES GERBER AND ANDY TAYLOR ARE BUSINESS PARTNERS; THEY EMPLOY MARY CORNPROPST AS THEIR CHIEF FINANCIAL OFFICER. MARY GARRISON IS GRADY GARRISON'S SPOUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE COMMITTEE PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW AT A MONTHLY MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GRADY GARRISON, THE BOARD ATTORNEY, MONITORS THIS AT MONTHLY MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS BASED ON COMPARABLE SALARIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5R. ANDREW TAYLOR - ONE COMMERCE SQUARE, SUITE 1900, MEMPHIS, TN 38103. CHARLES C. GERBER - ONE COMMERCE SQUARE, SUITE 1900, MEMPHIS, TN 38103. GRADY GARRISON - 165 MADISON AVENUE, SUITE 2000, MEMPHIS, TN 38103. DIANA BURTON - 3670 HACKS CROSS RD, BLDG G, 3RD FLOOR, MEMPHIS, TN 38125. MARY CORNPROPST - 2930 WATERLEAF DRIVE, GERMANTOWN, TN 38138. FATHER COLENZO HUBBARD - 604 ST. PAUL AVENUE, MEMPHIS, TN 38126. JOHNNY MOORE - 999 S. SHADY GROVE ROAD, SUITE 202, MEMPHIS, TN 38120. EMILY WOODSIDE - 1602 EAST CLANLO DRIVE, MEMPHIS, TN 38104. JAMAL MCCALL - 2670 UNION AVENUE EXTD, SUITE 1100, MEMPHIS, TN 38112. MARY GARRISON - 4409 WALNUT GROVE RD., MEMPHIS, TN 38117. J. LEWIS WARDLAW - 6410 POPLAR AVENUE, SUITE 1000, MEMPHIS, TN 38119.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO CHANGE FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0144518
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0157202
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0934351
IRS990/TotalAssetsEOYAmt01042756
IRS990/TotalAssetsGrp/BOYAmt0934351
IRS990/TotalAssetsGrp/EOYAmt01042756
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04533455
IRS990/TotalEmployeeCnt080
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01252544
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03355629
IRS990/TotalFunctionalExpensesGrp/TotalAmt04608173
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0177543
IRS990/TotalLiabilitiesEOYAmt0326344
IRS990/TotalLiabilitiesGrp/BOYAmt0177543
IRS990/TotalLiabilitiesGrp/EOYAmt0326344

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,042,756
Liabilities
$326,344
Net assets
$716,412
Revenue
$4,567,777
Expenses
$4,608,173
Net income
-$40,396
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.75$0.88$2.87$5.16$5.39$0.23
2024Detailed filing. Detailed filing data is available for this year.$4.19$1.09$3.10$5.29$5.57$0.28
2023Detailed filing. Detailed filing data is available for this year.$4.50$1.12$3.38$5.35$5.74$0.40
2022Detailed filing. Detailed filing data is available for this year.$7.40$3.66$3.74$6.43$5.69$0.74
2021Detailed filing. Detailed filing data is available for this year.$3.48$0.48$3.00$5.12$4.49$0.63
2020Detailed filing. Detailed filing data is available for this year.$3.07$1.36$1.72$4.88$4.88$0.00
2019Detailed filing. Detailed filing data is available for this year.$2.32$0.61$1.71$5.18$4.89$0.29
2018Detailed filing. Detailed filing data is available for this year.$2.02$0.60$1.43$4.65$4.53$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.51$0.73$0.78$4.67$4.43$0.24
2016Detailed filing. Detailed filing data is available for this year.$2.30$1.76$0.54$4.59$4.41$0.18
2015Detailed filing. Detailed filing data is available for this year.$1.47$1.11$0.36$4.80$4.47$0.33
2014Detailed filing. Detailed filing data is available for this year.$1.04$0.33$0.72$4.57$4.61$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.18$0.76$4.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.26$0.43$3.90
2011Summary only. Only limited summary data is available for this year.$0.66$0.40$0.26$3.73$3.68$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.31$0.21$3.31