Civic Intelligence

Memphis Education Fund

990 • Fiscal year 2016 • EIN 27-4106109

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 07, 2017

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

26th percentile

0.00x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

1st percentile

-5243%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $948,433 (-100%) from 2015

Net Assets

Down

$0

Down $948,433 (-100%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin1st percentile

Revenue

Down

$18,088

Down $1,473,815 (-99%) from 2015

Expenses

Down

$966,521

Down $736,396 (-43%) from 2015

Net Income

Down

-$948,433

Down $737,419 (-349%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2016

Assets$0
Liabilities$0
Net Assets$0
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

2016

Revenue$18,088
Expenses$966,521
Net Income-$948,433
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 7, 2017
Return Version
2016v3.0
Gross Receipts
$613,513
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$948,433$0▼ $948,433
Investments Other Securities$546,283$0▼ $546,283
Savings and Temporary Cash Investments$402,149$0▼ $402,149
Cash and Non-Interest-Bearing Accounts$1$0▼ $1
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$948,433$0▼ $948,433
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$948,433$0▼ $948,433
Total Liabilities and Net Assets / Fund Balance$948,433$0▼ $948,433
Compensation and Service Providers
Top Officer Pay49th 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
$0
Program Service Revenue
$0
Investment Income
$18,088
Other Revenue
$0
Change in Net Assets
$-948,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$966,319
Other Expenses$202
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$966,319--$966,319
Fees for Services Legal-$175-$175
Other Expenses-$7-$7
Total Functional Expenses$966,319$202$0$966,521
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kipp MemphisMemphis, TN501(c)(3)Support/advancement of Educational Opportunitiesat Kipp Memphis Schools$966,319
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 11B

“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
2017-03-07
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 Appendix351 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.
IRS990/AnnualDisclosureCoveredPrsnInd01
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IRS990/Desc0THE ORGANIZATION MADE A CONTRIBUTION TO KIPP MEMPHIS DURING 2016.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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY & DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/FormerOfcrEmployeesListedInd00
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IRS990/GainOrLossGrp/SecuritiesAmt0-31141
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IRS990/GrantAmt0966319
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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.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0OVER THE PAST YEAR, MEMPHIS EDUCATION FUND MADE ATTEMPTS TO ATTRACT DONATIONS FROM OUTSIDE DONORS THROUGH SOLICITATION EFFORTS. HOWEVER, THOSE EFFORTS DID NOT PROVE TO BE SUCCESSFUL. DURING THAT TIME, THE ORGANIZATION ACHIEVED ITS ORIGINAL PURPOSE, TO PROVIDE SUSTAINABLE GROWTH OPPORTUNTIES FOR THE KIPP MEMPHIS PROGRAM, AND DECIDED TO CLOSE OPERATIONS.
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT/ADVANCEMENT OF EDUCATIONAL OPPORTUNITIESAT KIPP MEMPHIS SCHOOLS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0KIPP MEMPHIS
IRS990ScheduleI/RecipientTable/RecipientEIN0680502820
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02670 UNION AVE EXTENDED
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd038112
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE OPERATIONS OF THE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0KIPP MEMPHIS
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
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IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0KIPP MEMPHIS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02016-12-28
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0680502820
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt02670 UNION AVE EXTENDED
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0MEMPHIS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0TN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd038112
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: BARBARA HYDE
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: BARBARA HYDE IS A DIRECTOR OF KIPP MEMPHIS, INC. SHE IS ONE OF EIGHT TOTAL DIRECTORS.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990/ScheduleORequiredInd01
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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ReturnHeader/ReturnTs02017-03-14T08:16:09-05:00
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ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$18,088
Expenses
$966,521
Net income
-$948,433
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