Civic Intelligence

Memphis Teacher Residency Inc.

990 • Fiscal year 2016 • EIN 26-4440905

Jun 01, 2015 to May 31, 2016 • Filed on Sep 20, 2016

PO Box 40713Memphis, TN 38174

(901) 937-4687

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

69th percentile

10%

Higher net margin than 69% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

78th percentile

$123,959

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

92nd percentile

57%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$1,177,359

Up $427,523 (+57%) from 2015

Net Assets

Up

$1,177,359

Up $455,770 (+63%) from 2015

Liabilities

Down

$0

Down $28,247 (-100%) from 2015

Revenue

Up

$4,371,571

Up $738,272 (+20%) from 2015

Expenses

Up

$3,915,801

Up $361,214 (+10%) from 2015

Net Income

Up

$455,770

Up $377,058 (+479%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $543,556Liabilities 2010: $540Net Assets 2010: $543,0162010Assets 2011: $527,440Liabilities 2011: $13,450Net Assets 2011: $513,9902011Assets 2012: $474,803Liabilities 2012: $41,672Net Assets 2012: $433,1312012Assets 2013: $484,932Liabilities 2013: $54,011Net Assets 2013: $430,9212013Assets 2014: $676,460Liabilities 2014: $33,583Net Assets 2014: $642,8772014Assets 2015: $749,836Liabilities 2015: $28,247Net Assets 2015: $721,5892015Assets 2016: $1,177,359Liabilities 2016: $0Net Assets 2016: $1,177,3592016Assets 2017: $4,803,457Liabilities 2017: $472,334Net Assets 2017: $4,331,1232017Assets 2018: $3,331,226Liabilities 2018: $40,823Net Assets 2018: $3,290,4032018Assets 2019: $3,220,596Liabilities 2019: $12,162Net Assets 2019: $3,208,4342019Assets 2020: $4,663,316Liabilities 2020: $12,008Net Assets 2020: $4,651,3082020Assets 2021: $4,198,944Liabilities 2021: $33,203Net Assets 2021: $4,165,7412021Assets 2022: $5,540,031Liabilities 2022: $35,022Net Assets 2022: $5,505,0092022Assets 2023: $17,352,776Liabilities 2023: $11,935,269Net Assets 2023: $5,417,5072023Assets 2024: $17,899,568Liabilities 2024: $11,245,893Net Assets 2024: $6,653,6752024Assets 2025: $18,553,897Liabilities 2025: $10,433,004Net Assets 2025: $8,120,8932025

Highlighted filing

2016

Assets$1,177,359
Liabilities$0
Net Assets$1,177,359

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $748,1182010Expenses 2011: $1,167,5262011Expenses 2012: $1,806,7462012Expenses 2013: $1,904,1242013Revenue 2014: $2,978,737Expenses 2014: $2,766,781Net Income 2014: $211,9562014Revenue 2015: $3,633,299Expenses 2015: $3,554,587Net Income 2015: $78,7122015Revenue 2016: $4,371,571Expenses 2016: $3,915,801Net Income 2016: $455,7702016Revenue 2017: $7,345,710Expenses 2017: $4,191,946Net Income 2017: $3,153,7642017Revenue 2018: $4,367,061Expenses 2018: $5,407,781Net Income 2018: -$1,040,7202018Revenue 2019: $5,672,111Expenses 2019: $5,754,080Net Income 2019: -$81,9692019Revenue 2020: $6,630,350Expenses 2020: $5,187,476Net Income 2020: $1,442,8742020Revenue 2021: $4,736,462Expenses 2021: $5,222,029Net Income 2021: -$485,5672021Revenue 2022: $6,575,161Expenses 2022: $5,235,893Net Income 2022: $1,339,2682022Revenue 2023: $5,262,203Expenses 2023: $5,349,705Net Income 2023: -$87,5022023Revenue 2024: $6,665,811Expenses 2024: $5,429,643Net Income 2024: $1,236,1682024Revenue 2025: $7,623,924Expenses 2025: $6,156,706Net Income 2025: $1,467,2182025

Highlighted filing

2016

Revenue$4,371,571
Expenses$3,915,801
Net Income$455,770
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Sep 20, 2016
Return Version
2015v2.1
Gross Receipts
$4,371,571
Mission and Program Overview

Mission

As a response to the gospel mandate to love our neighbors as ourselves, memphis teacher residency ("mtr") will provide students in low-income memphis neighborhoods with the same, or better, quality of education as is available to any student in memphis by recruiting, training, and supporting effective teachers within a christian context.the vision of mtr is to use our specific work within education, in partnership with other holistic organizations, to help restore communities so that all individuals can become empowered contributors to our city and people of all races and classes can engage with one another in peace.

As a response to the gospel mandate to love our neighbors as ourselves, the organization will provide students in our partner neighborhoods with the same, or better, quality of education as any child in memphis receives by recruiting, training and supporting effective teachers within a christian context.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$770,659-
Cash and Non-Interest-Bearing Accounts$647,519$226,078▼ $421,441
Land, Buildings, and Equipment, Net$45,602$174,497▲ $128,895
Prepaid Expenses and Deferred Charges$7,311$0▼ $7,311
Accounts Receivable$49,404$6,125▼ $43,279
Total Assets$749,836$1,177,359▲ $427,523
Liabilities
Accounts Payable and Accrued Expenses$28,247$0▼ $28,247
Total Liabilities$28,247$0▼ $28,247
Net Assets / Fund Balance
Unrestricted Net Assets$721,589$1,177,359▲ $455,770
Total Net Assets Fund Balance$721,589$1,177,359▲ $455,770
Total Liabilities and Net Assets / Fund Balance$749,836$1,177,359▲ $427,523

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$143,653-$143,653
Equipment$30,844$69,134$99,978
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David MontaguePresidentFT$112,074$11,885$123,959

Board Members and Trustees

NameTitle
David HarrisChairman
Carol JohnsonDirector
Dr Maxie DunnamDirector
Tom MarinoSecretary
Robert MontagueTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,347,735
Program Service Revenue
$23,836
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,101,053
Change in Net Assets
$455,770

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,371,571
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,371,571
Total Revenue per Form 990
$4,371,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,973,025
Salaries, Compensation, and Employee Benefits$1,920,496
Total Fundraising Expense$50,756
Grants and Similar Amounts Paid$22,280
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,416,680$113,503$37,618$1,567,801
Fees for Services Other$881,075--$881,075
All Other Expenses$171,830$750-$172,580
Current Officers, Directors, Trustees, and Key Employees$117,761$3,719$2,479$123,959
Payroll Taxes$91,941$4,935$3,099$99,975
Other Employee Benefits$93,989$3,758$1,739$99,486
Other Expenses$81,847$649$171$82,667
Travel$49,687$177$273$50,137
Information Technology$42,333$4,384$469$47,186
Occupancy$30,657$1,428$960$33,045
Pension Plan Contributions$27,708$731$836$29,275
Grants to Domestic Individuals$22,280--$22,280
Office Expenses$9,800$9,314$677$19,791
Depreciation Depletion-$14,758-$14,758
Fees for Services Accounting-$11,735-$11,735
Insurance$261$5,105-$5,366
Total Functional Expenses$3,685,784$179,261$50,756$3,915,801

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,915,801
Total Expenses per Audited Statements$3,915,801
Total Expenses per Form 990$3,915,801
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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

David montague, president and employee, and robert montague, treasurer and uncompensated board member, are brothers.

Form 990, Part VI, Section B, Line 11

A copy of form 990 was provided to the board of directors for review and comment before the return was filed with the internal revenue service.

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

Annually the organization requires the officers and directors to review the conflict of interest policy and sign an annual certification.

Form 990, Part VI, Section B, Line 15

The board of directors annually reviews the compensation of management, compares to other similar not for profits in the memphis area, consults with other similar organizations, and sets the compensation commensurate with responsibilities.

Form 990, Part VI, Section C, Line 19

Memphis teacher residency, inc. Has all documents required to be available for inspection in a specific binder marked "open for public inspection and is readily available upon request by the public.

Filing and Contact Details

Filer

Filer Name
Memphis Teacher Residency Inc
EIN
26-4440905
Phone
9019374687
Address
PO BOX 40713, MEMPHIS, TN 38174

Signing Officer

Name
David Montague
Title
President
Phone
9019374687
Signed
2016-09-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Montague
Formed
2009
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
23
Volunteers
5

Preparer

Firm
Brundige Payne and Company Pc
Address
700 COLONIAL ROAD SUITE 220, MEMPHIS, TN 38117-5156
Preparer
Richard a Swope CPA
Phone
9016834234
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Stipends : program service expenses 803,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 803,000. Camp stipends : program service expenses 78,075. Management and general expenses 0. Fundraising expenses 0. Total expenses 78,075.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management of memphis teacher residency, inc. To evaluate tax positions taken by the organization and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Memphis teacher residency, inc. Has analyzed the tax positions taken by the organization and has concluded that as of may 31, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. Memphis teacher residency, inc. Believes it is no longer subject to income tax examinations for years prior to 2012.

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IRS990/ActivityOrMissionDesc0AS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, THE ORGANIZATION WILL PROVIDE STUDENTS IN OUR PARTNER NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS ANY CHILD IN MEMPHIS RECEIVES BY RECRUITING, TRAINING AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.
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IRS990/Desc0RECRUIT, EQUIPS, AND RETAINS EDUCATORS AND TEACHERS TO WORK WITHIN MEMPHIS, TENNESSEE URBAN SCHOOLS AND PROVIDE THE OPPORTUNITY TO RECEIVE CLASSROOM LEARNING ALONG WITH PRACTICAL EXPERIENCE SINCE THE PROGRAM PARTICIPANTS ARE PAIRED WITH AN EXPERIENCED MENTOR-TEACHER IN THEIR CONTENT AREA FOR FOUR DAYS PER WEEK FOR AN ENTIRE SCHOOL YEAR. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE ENDORSEMENTS FOR ELEMENTARY EDUCATION OR SECONDARY EDUCATION IN MATH, BIOLOGY, PHYSICS, CHEMISTRY, SPANISH, HISTORY OR ENGLISH. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE THE FOLLOWING: : MASTERS OF ARTS IN URBAN EDUCATION THROUGH UNION UNIVERSITY : INTENSIVE CLASSROOM EXPERIENCE WITHIN MEMPHIS URBAN SCHOOLS : STATE OF TENNESSEE EDUCATOR LICENSE : LIVING AND HOUSING STIPEND FOR THE 12 MONTH TRAINING PERIOD : ON-GOING EVALUATION AND MENTORING : LEADERSHIP OPPORTUNITIESTHE ESTIMATED COST FOR EACH PARTICIPANT IN THE 12 MONTH TRAINING PROGRAM IS APPROXIMATELY $33,000. THE NUMBER OF PROGRAM PARTICIPANTS FOR THE YEAR ENDED MAY 31, 2016 IS 70.
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IRS990/MissionDesc0AS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, MEMPHIS TEACHER RESIDENCY ("MTR") WILL PROVIDE STUDENTS IN PARTNER LOW-INCOME MEMPHIS NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS IS AVAILABLE TO ANY STUDENT IN MEMPHIS BY RECRUITING, TRAINING, AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.THE VISION OF MTR IS TO USE OUR SPECIFIC WORK WITHIN EDUCATION, IN PARTNERSHIP WITH OTHER HOLISTIC ORGANIZATIONS, TO HELP RESTORE COMMUNITIES SO THAT ALL INDIVIDUALS CAN BECOME EMPOWERED CONTRIBUTORS TO OUR CITY AND PEOPLE OF ALL RACES AND CLASSES CAN ENGAGE WITH ONE ANOTHER IN PEACE.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04236
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt179
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2649
IRS990/OtherExpensesGrp/ProgramServicesAmt0282540
IRS990/OtherExpensesGrp/ProgramServicesAmt1218199
IRS990/OtherExpensesGrp/ProgramServicesAmt2147196
IRS990/OtherExpensesGrp/ProgramServicesAmt381847
IRS990/OtherExpensesGrp/TotalAmt0286776
IRS990/OtherExpensesGrp/TotalAmt1218278
IRS990/OtherExpensesGrp/TotalAmt2149631
IRS990/OtherExpensesGrp/TotalAmt382667
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt037618
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0113503
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01416680
IRS990/OtherSalariesAndWagesGrp/TotalAmt01567801
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt03099
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04935
IRS990/PayrollTaxesGrp/ProgramServicesAmt091941
IRS990/PayrollTaxesGrp/TotalAmt099975
IRS990/PensionPlanContributionsGrp/FundraisingAmt0836
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0731
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt027708
IRS990/PensionPlanContributionsGrp/TotalAmt029275
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0770659
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07311
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0DAVID MONTAGUE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/Desc0RESIDENT STIPEND REIMB
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt023836
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt023836
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03622536
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt036990
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt01930947
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt010763
IRS990/PYRevenuesLessExpensesAmt078712
IRS990/PYSalariesCompEmpBnftPaidAmt01586650
IRS990/PYTotalExpensesAmt03554587
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03633299
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0455770
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt023836
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0RESIDENT STIPEND REIMBURSEMENT 2013 AMOUNT: $40,234 2014 AMOUNT: $10,763 2015 AMOUNT: $23,386
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION FOR OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04347736
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03622536
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02938503
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01875685
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02089375
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt014873835
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt023836
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt010763
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt040234
IRS990ScheduleA/OtherIncome170Grp/TotalAmt074833
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.85910
IRS990ScheduleA/PublicSupportPY170Pct00.74880
IRS990ScheduleA/PublicSupportTotal170Amt012842808
IRS990ScheduleA/SubstantialContributorsTotAmt02031027
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04347736
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03622536
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02938503
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01875685
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02089375
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt014873835
IRS990ScheduleA/TotalSupportAmt014948668
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/EquipmentGrp/BookValueAmt030844
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069134
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt099978
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03915801
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0143653
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0143653
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04371571
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT OF MEMPHIS TEACHER RESIDENCY, INC. TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MEMPHIS TEACHER RESIDENCY, INC. HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF MAY 31, 2016, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MEMPHIS TEACHER RESIDENCY, INC. BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0174497
IRS990ScheduleD/TotalExpensesPerForm990Amt03915801
IRS990ScheduleD/TotalRevenuePerForm990Amt04371571
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04371571
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03915801
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt05705
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt116575
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PROVISION FOR BOOKS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PROVISION FOR TUITION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt070
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt170
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PARTICIPANTS INVOLVED IN THE ORGANIZATION'S PROGRAM ARE PROVIDED EDUCATIONAL EXPENSES IN THE FORM OF BOOKS AND TUITION WITH THE EXPECTATION OF THREE YEARS OF SERVICE IN THE MEMPHIS URBAN SCHOOLS UPON RECEIVING THEIR MASTERS DEGREE. SEE SCHEDULE O FOR ADDITIONAL EXPLANATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE I, PART III, LINE 1
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAVID MONTAGUE, PRESIDENT AND EMPLOYEE, AND ROBERT MONTAGUE, TREASURER AND UNCOMPENSATED BOARD MEMBER, ARE BROTHERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT BEFORE THE RETURN WAS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY THE ORGANIZATION REQUIRES THE OFFICERS AND DIRECTORS TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN AN ANNUAL CERTIFICATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE COMPENSATION OF MANAGEMENT, COMPARES TO OTHER SIMILAR NOT FOR PROFITS IN THE MEMPHIS AREA, CONSULTS WITH OTHER SIMILAR ORGANIZATIONS, AND SETS THE COMPENSATION COMMENSURATE WITH RESPONSIBILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEMPHIS TEACHER RESIDENCY, INC. HAS ALL DOCUMENTS REQUIRED TO BE AVAILABLE FOR INSPECTION IN A SPECIFIC BINDER MARKED "OPEN FOR PUBLIC INSPECTION AND IS READILY AVAILABLE UPON REQUEST BY THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5STIPENDS : PROGRAM SERVICE EXPENSES 803,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 803,000. CAMP STIPENDS : PROGRAM SERVICE EXPENSES 78,075. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 78,075.
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 IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0749836
IRS990/TotalAssetsEOYAmt01177359
IRS990/TotalAssetsGrp/BOYAmt0749836
IRS990/TotalAssetsGrp/EOYAmt01177359
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04347735
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt050756
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0179261
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03685784
IRS990/TotalFunctionalExpensesGrp/TotalAmt03915801
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028247
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt028247
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0721589
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01177359
IRS990/TotalOtherCompensationAmt011885
IRS990/TotalProgramServiceExpensesAmt03685784
IRS990/TotalProgramServiceRevenueAmt023836
IRS990/TotalReportableCompFromOrgAmt0112074
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt023836
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04371571
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0749836
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01177359
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt0273
IRS990/TravelGrp/ManagementAndGeneralAmt0177
IRS990/TravelGrp/ProgramServicesAmt049687
IRS990/TravelGrp/TotalAmt050137
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0721589
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01177359
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02181 UNION AVENUE
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038104
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.MEMPHISTR.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$18.6$10.4$8.12$7.62$6.16$1.47
2024Detailed filing. Detailed filing data is available for this year.$17.9$11.2$6.65$6.67$5.43$1.24
2023Detailed filing. Detailed filing data is available for this year.$17.4$11.9$5.42$5.26$5.35$0.09
2022Detailed filing. Detailed filing data is available for this year.$5.54$0.04$5.51$6.58$5.24$1.34
2021Detailed filing. Detailed filing data is available for this year.$4.20$0.03$4.17$4.74$5.22$0.49
2020Detailed filing. Detailed filing data is available for this year.$4.66$0.01$4.65$6.63$5.19$1.44
2019Detailed filing. Detailed filing data is available for this year.$3.22$0.01$3.21$5.67$5.75$0.08
2018Detailed filing. Detailed filing data is available for this year.$3.33$0.04$3.29$4.37$5.41$1.04
2017Detailed filing. Detailed filing data is available for this year.$4.80$0.47$4.33$7.35$4.19$3.15
2016Detailed filing. Detailed filing data is available for this year.$1.18$0.00$1.18$4.37$3.92$0.46
2015Detailed filing. Detailed filing data is available for this year.$0.75$0.03$0.72$3.63$3.55$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.68$0.03$0.64$2.98$2.77$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.05$0.43$1.90
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.04$0.43$1.81
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.01$0.51$1.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.00$0.54$0.75
Peer Organizations

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