Civic Intelligence

Memphis Education Fund

990 • Fiscal year 2015 • EIN 27-4106109

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 28, 2016

Organization Profile
17 W Pontotoc Avenue Suite 100Memphis, TN 38103

(901) 685-3416

Siviq Scores

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

Liabilities / Assets

13th percentile

0.00x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

13th percentile

0.00x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets13th percentile

Assets

$948,433

No earlier filing loaded for comparison.

Net Assets

$948,433

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin17th percentile

Revenue

$1,491,903

No earlier filing loaded for comparison.

Expenses

$1,702,917

No earlier filing loaded for comparison.

Net Income

-$211,014

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0M$500K$0Assets 2015: $948,433Liabilities 2015: $0Net Assets 2015: $948,4332015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$948,433
Liabilities$0
Net Assets$948,433
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $1,491,903Expenses 2015: $1,702,917Net Income 2015: -$211,0142015Revenue 2016: $18,088Expenses 2016: $966,521Net Income 2016: -$948,4332016

Highlighted filing

2015

Revenue$1,491,903
Expenses$1,702,917
Net Income-$211,014
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 28, 2016
Return Version
2015v2.1
Gross Receipts
$2,142,834
Mission and Program Overview

Mission

Memphis education fund (mef) was establised as a charitable organization to promote and enhance educational opportunities throughout the city of memphis, tn. Mef intends to provide funding and resources to schools in order to supplement school budgets in an effort to help students in the memphis community achieve success. Mef will have a primary emphasis on memphis city schools and knowledge is power program (kipp) schools in memphis, tn.

Support/advance educational opportunities with particular focus on the knowledge is power program (kipp) schools & other educational initiatives primarily in memphis, tn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,159,447$948,433▼ $211,014
Investments Other Securities$1,159,418$546,283▼ $613,135
Savings and Temporary Cash Investments$29$402,149▲ $402,120
Cash and Non-Interest-Bearing Accounts-$1-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,159,447$948,433▼ $211,014
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,159,447$948,433▼ $211,014
Total Liabilities and Net Assets / Fund Balance$1,159,447$948,433▼ $211,014

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$91,268--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Barbara R HydePresident & Director
Charles C GerberDirector
O Mason HawkinsDirector
Jef FeiblemanSecretary & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$1,300,000
Program Service Revenue
$0
Investment Income
$191,903
Other Revenue
$0
All Other Contributions
$1,300,000
Change in Net Assets
$-211,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,700,000
Other Expenses$2,917
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,700,000--$1,700,000
Fees for Services Accounting-$2,872-$2,872
Other Expenses-$20-$20
Total Functional Expenses$1,700,000$2,917$0$1,702,917
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kipp MemphisMemphis, TN501(c)(3)Support/advancement of Educational Opportunitiesat Kipp Memphis Schools$1,700,000
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
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
No
Other officer compensation reviewed
No
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 B, Line 11

“Form 990 is emailed to all members of the governing body after it is substantially completed but before filing for their review and comments. Any changes necessary to be made are made before the actual return is filed.”

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

“The conflict of interest policy has been provided to all current officers and directors. At least annually, the policy will be reviewed during a regularly scheduled meeting to deternine if there are any new or existing conflicts of interest.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and financial statements will be made available upon request. During the 2015 year no such requests were received. However, if requests are received, they will be responded to in a timely manner.”

Filing and Contact Details

Filer

Filer Name
Memphis Education Fund
EIN
27-4106109
Phone
9016853416
Address
17 W PONTOTOC AVENUE SUITE 100, MEMPHIS, TN 38103

Signing Officer

Name
Barbara R Hyde
Title
President & Director
Phone
9016853416
Signed
2016-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara R Hyde
Formed
2010
Legal Domicile
Tn
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Pittco Management LLC
Address
17 W PONTOTOC AVE STE 100, MEMPHIS, TN 38103
Preparer
Corie Rivers
Phone
9013223599
Raw XML Appendix326 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0SUPPORT/ADVANCE EDUCATIONAL OPPORTUNITIES WITH PARTICULAR FOCUS ON THE KNOWLEDGE IS POWER PROGRAM (KIPP) SCHOOLS & OTHER EDUCATIONAL INITIATIVES PRIMARILY IN MEMPHIS, TN.
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IRS990/Desc0THE ORGANIZATION MADE A CONTRIBUTION TO KIPP MEMPHIS DURING 2015.FOLLOWING THE ORGANIZATION'S MISSION, THE CONTRIBUTION WAS MADE TOSUPPORT THE ONGOING EDUCATIONAL OPPORTUNITIES PROVIDED BY KIPPMEMPHIS AND TO HELP ADVANCE THESE OPPORTUNITIES THROUGH GROWTH OFTHE KIPP SCHOOLS.
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IRS990/MissionDesc0MEMPHIS EDUCATION FUND (MEF) WAS ESTABLISED AS A CHARITABLE ORGANIZATION TO PROMOTE AND ENHANCE EDUCATIONAL OPPORTUNITIES THROUGHOUT THE CITY OF MEMPHIS, TN. MEF INTENDS TO PROVIDE FUNDING AND RESOURCES TO SCHOOLS IN ORDER TO SUPPLEMENT SCHOOL BUDGETS IN AN EFFORT TO HELP STUDENTS IN THE MEMPHIS COMMUNITY ACHIEVE SUCCESS. MEF WILL HAVE A PRIMARY EMPHASIS ON MEMPHIS CITY SCHOOLS AND KNOWLEDGE IS POWER PROGRAM (KIPP) SCHOOLS IN MEMPHIS, TN.
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0INITIALLY, MEMPHIS EDUCATION FUND DID RECEIVE A LARGE CONTRIBUTION FROM A SMALL GROUP OF DONORS TO ENABLE THE OPERATIONS OF THE ORGANIZATION TO BEGIN, GAIN ATTRACTION FROM OUTSIDE DONORS, AND THUS EXPAND ITS SOLICITATION EFFORTS. IN THE PAST YEAR, OUTSIDE DONORS HAD PLEDGED TO CONTRIBUTE, BUT UNFORTUNATELY THOSE DONATIONS DID NOT COME TO FRUITION. IN ORDER TO CONTINUE PROVIDING SUPPORT FOR THE KIPP MEMPHIS PROGRAM TO ADVANCE THE OPPORTUNTIES THROUGH GROWTH OF THE KIPP SCHOOLS, AN INSIDE DONATION HAD TO BE MADE. GOING FORWARD, MEMPHIS EDUCATION FUND INTENDS TO GAIN OTHER COMPREHENSIVE SUPPORT.
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IRS990ScheduleD/OtherSecuritiesGrp/Desc1LONGLEAF SMALL-CAP FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc2LONGLEAF INTERNATIONAL FUND
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IRS990ScheduleI/RecipientTable/RecipientEIN0680502820
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE OPERATIONS OF THE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0KIPP MEMPHIS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS EMAILED TO ALL MEMBERS OF THE GOVERNING BODY AFTER IT IS SUBSTANTIALLY COMPLETED BUT BEFORE FILING FOR THEIR REVIEW AND COMMENTS. ANY CHANGES NECESSARY TO BE MADE ARE MADE BEFORE THE ACTUAL RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY HAS BEEN PROVIDED TO ALL CURRENT OFFICERS AND DIRECTORS. AT LEAST ANNUALLY, THE POLICY WILL BE REVIEWED DURING A REGULARLY SCHEDULED MEETING TO DETERNINE IF THERE ARE ANY NEW OR EXISTING CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE UPON REQUEST. DURING THE 2015 YEAR NO SUCH REQUESTS WERE RECEIVED. HOWEVER, IF REQUESTS ARE RECEIVED, THEY WILL BE RESPONDED TO IN A TIMELY MANNER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt017 W PONTOTOC AVE STE 100
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038103
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BARBARA R HYDE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09016853416
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-07-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MEMPHIS EDUCATION FUND
ReturnHeader/Filer/BusinessNameControlTxt0MEMP
ReturnHeader/Filer/EIN0274106109
ReturnHeader/Filer/PhoneNum09016853416
ReturnHeader/Filer/USAddress/AddressLine1Txt017 W PONTOTOC AVENUE SUITE 100
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038103
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621712416
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PITTCO MANAGEMENT LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017 W PONTOTOC AVE STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038103
ReturnHeader/PreparerPersonGrp/PhoneNum09013223599
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CORIE RIVERS
ReturnHeader/ReturnTs02016-08-08T09:31:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$948,433
Liabilities
$0
Net assets
$948,433
Revenue
$1,491,903
Expenses
$1,702,917
Net income
-$211,014
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.97$0.95
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$1.49$1.70$0.21