Civic Intelligence

Capstone Education Group Inc.

990 • Fiscal year 2024 • EIN 45-4885204

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 28, 2024

Organization ProfileWWW.CORNERSTONEPREPMEMPHIS.ORG/CAPSTONE-EDUCAT

View Organization Page

PO Box 22569Memphis, TN 38122-0569

(901) 261-4384

Siviq Scores

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

Liabilities / Assets

19th percentile

0.02x

Higher debt load relative to assets than 19% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

10th percentile

0.03x

Higher debt load relative to revenue than 10% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

70th percentile

15%

Higher net margin than 70% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

46th percentile

$245,066

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

75th percentile

14%

Faster asset growth than 75% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

16%

Faster revenue growth than 65% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$27,358,569

Up $3,387,182 (+14%) from 2023

Net Assets

Up

$26,675,885

Up $3,519,154 (+15%) from 2023

Liabilities

Down

$682,684

Down $131,972 (-16%) from 2023

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin70th percentile

Revenue

Up

$23,844,184

Up $3,265,596 (+16%) from 2023

Expenses

Up

$20,325,032

Up $2,119,296 (+12%) from 2023

Net Income

Up

$3,519,152

Up $1,146,300 (+48%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$40M$30M$20M$10M$0Assets 2013: $5,031,386Liabilities 2013: $13,517Net Assets 2013: $5,017,8692013Assets 2014: $6,042,144Liabilities 2014: $196,591Net Assets 2014: $5,845,5532014Assets 2015: $6,267,054Liabilities 2015: $55,551Net Assets 2015: $6,211,5032015Assets 2016: $9,948,952Liabilities 2016: $1,176,408Net Assets 2016: $8,772,5442016Assets 2017: $12,515,679Liabilities 2017: $1,603,413Net Assets 2017: $10,912,2662017Assets 2018: $14,288,705Liabilities 2018: $1,187,463Net Assets 2018: $13,101,2422018Assets 2019: $15,927,287Liabilities 2019: $735,508Net Assets 2019: $15,191,7792019Assets 2020: $17,450,935Liabilities 2020: $844,580Net Assets 2020: $16,606,3552020Assets 2021: $17,393,723Liabilities 2021: $587,467Net Assets 2021: $16,806,2562021Assets 2022: $24,521,664Liabilities 2022: $3,737,785Net Assets 2022: $20,783,8792022Assets 2023: $23,971,387Liabilities 2023: $814,656Net Assets 2023: $23,156,7312023Assets 2024: $27,358,569Liabilities 2024: $682,684Net Assets 2024: $26,675,8852024Assets 2025: $30,379,135Liabilities 2025: $1,328,930Net Assets 2025: $29,050,2052025

Highlighted filing

2024

Assets$27,358,569
Liabilities$682,684
Net Assets$26,675,885
Open 2024 Filing

Operations Trend

Revenue Growth65th percentile

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

$30M$20M$10M$0Expenses 2013: $02013Revenue 2014: $5,186,727Expenses 2014: $4,359,043Net Income 2014: $827,6842014Revenue 2015: $6,106,089Expenses 2015: $5,606,265Net Income 2015: $499,8242015Revenue 2016: $15,001,195Expenses 2016: $12,440,154Net Income 2016: $2,561,0412016Revenue 2017: $14,660,585Expenses 2017: $12,520,863Net Income 2017: $2,139,7222017Revenue 2018: $15,405,632Expenses 2018: $13,216,656Net Income 2018: $2,188,9762018Revenue 2019: $15,674,741Expenses 2019: $13,584,204Net Income 2019: $2,090,5372019Revenue 2020: $15,819,066Expenses 2020: $14,404,490Net Income 2020: $1,414,5762020Revenue 2021: $16,006,106Expenses 2021: $15,806,205Net Income 2021: $199,9012021Revenue 2022: $20,250,688Expenses 2022: $16,224,709Net Income 2022: $4,025,9792022Revenue 2023: $20,578,588Expenses 2023: $18,205,736Net Income 2023: $2,372,8522023Revenue 2024: $23,844,184Expenses 2024: $20,325,032Net Income 2024: $3,519,1522024Revenue 2025: $21,535,365Expenses 2025: $19,161,045Net Income 2025: $2,374,3202025

Highlighted filing

2024

Revenue$23,844,184
Expenses$20,325,032
Net Income$3,519,152
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 28, 2024
Return Version
2023v5.1
Gross Receipts
$23,844,184
Mission and Program Overview

Mission

Equips students with wisdom and knowledge necessary to succeed in college

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$14,590,988$14,738,108▲ $147,120
Cash and Non-Interest-Bearing Accounts$1,375,448$5,378,128▲ $4,002,680
Accounts Receivable$4,648,557$3,386,680▼ $1,261,877
Land, Buildings, and Equipment, Net$0$374,922▲ $374,922
Prepaid Expenses and Deferred Charges-$25,080-
Total Assets$23,971,387$27,358,569▲ $3,387,182
Other Assets Total$3,356,394$3,455,651▲ $99,257
Liabilities
Other Liabilities$463,394$390,590▼ $72,804
Accounts Payable and Accrued Expenses$351,262$292,094▼ $59,168
Total Liabilities$814,656$682,684▼ $131,972
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,156,731$26,675,885▲ $3,519,154
Total Net Assets Fund Balance$23,156,731$26,675,885▲ $3,519,154
Total Liabilities and Net Assets / Fund Balance$23,971,387$27,358,569▲ $3,387,182

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$211,361$26,269$237,630
Other Land Buildings$163,561-$163,561
Other Assets Org$67,070--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Drew SippelExecutive DirectorFT$245,066$245,066
Michelle LyonsPrincipal of Cornerstone PFT$158,109$158,109
Yolanda DandridgePrincipal of Cornerstone PFT$120,880$120,880
Meagan a TateChief Culture OfficerFT$116,774$116,774
Lacee RodgersChief Academic OfficerFT$111,879$111,879
Bridgette V SimmonsDean of CultureFT$103,874$103,874

Board Members and Trustees

NameTitle
Scott WalkerChairman
Thomas M MarinoVice Chairman
Camela EcholsDirector
Dr Yolunda Bass BealeDirector
Elliot PerryDirector
Octavious NicksonDirector
Paul F T EdwardsSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Give Clean LLCCleaning Service2139 S GERMANTOWN RD, Germantown, TN 38138$324,904
Durham School ServicesTransportationPO BOX 841879, Dallas, TX 75284-1879$143,486
Revenue and Support

Revenue Composition

Contributions and Grants
$22,939,817
Program Service Revenue
$0
Investment Income
$904,367
Other Revenue
$0
All Other Contributions
$920,346
Change in Net Assets
$3,519,152

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,844,184
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$23,844,184
Total Revenue per Form 990
$23,844,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,348,521
Other Expenses$4,976,511
Total Fundraising Expense$44,518
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,520,413$1,210,573$18,720$11,749,706
Occupancy$969,083$62,262-$1,031,345
Current Officers, Directors, Trustees, and Key Employees$867,613$90,020$23,965$981,598
Payroll Taxes$908,198$10,328$1,833$920,359
Pension Plan Contributions$862,874--$862,874
Other Employee Benefits$825,122$8,862-$833,984
Fees for Services Other$618,136--$618,136
All Other Expenses$529,193--$529,193
Other Expenses$73,107$193,398-$266,505
Office Expenses$172,338--$172,338
Insurance$15,798$63,189-$78,987
Advertising$54,914--$54,914
Travel$14,431--$14,431
Depreciation Depletion$2,420$127-$2,547
Total Functional Expenses$18,241,225$2,039,289$44,518$20,325,032

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$20,325,032
Total Expenses per Audited Statements$20,325,032
Total Expenses per Form 990$20,325,032
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows$322,087
Lease Liability$68,503
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 35% controlled entity
No
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 B, Line 11B

“The preparer provided a copy of the final version of form 990 to the board of directors before it was filed. Additionally, the board of directors reviewed and approved the return before it was filed.”

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

“Annual conflict of interest statements to identify potential conflicts with vendors, employees, clients, and other potential conflicts are completed by all board members. Periodic reviews are also conducted and when conflicts arise, a resolution is determined by the board of directors.”

Form 990, Part VI, Section B, Line 15

“Compensation for all employees of capstone education group are determined based on market rates, education level and experience and compensation levels are consistent with comparable data from school systems in the area with board approval of all employee compensation.”

Form 990, Part VI, Section C, Line 19

“Capstone education group has available for public inspection all required documents in a separate binder marked "open for public inspection and will provide the information for review by anyone upon request.”

Filing and Contact Details

Filer

Filer Name
Capstone Education Group Inc
EIN
45-4885204
Phone
9012614384
Address
PO BOX 22569, MEMPHIS, TN 38122-0569

Signing Officer

Name
Drew Sippel
Title
Executive Director
Phone
9012614384
Signed
2024-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Drew Sippel
Formed
2012
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
238
Volunteers
150

Preparer

Firm
Henderson Hutcherson & Mccullough Pllc
Address
1755 KIRBY PARKWAY SUITE 200, MEMPHIS, TN 38120
Preparer
Richard a Swope
Phone
9016834234
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The organization has not changed the oversight process for the audited financial statements or the selection process of the independent auditors from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america requires management of the school to evaluate tax positions taken by the school and recognize a tax liability (or asset) if the school has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The school has analyzed the tax positions taken by the school and has concluded that as of june 30, 2024, 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. The school is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. The school believes that it is no longer subject to income tax examinations for years prior to 2021.”

Raw XML AppendixShowing 400 of 514 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/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt022019471
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt023844184
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt063189
IRS990/InsuranceGrp/ProgramServicesAmt015798
IRS990/InsuranceGrp/TotalAmt078987
IRS990/InvestmentIncomeGrp/ExclusionAmt0904367
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0904367
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt017
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt026269
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0374922
IRS990/LandBldgEquipCostOrOtherBssAmt0401191
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0EQUIPS STUDENTS WITH WISDOM AND KNOWLEDGE NECESSARY TO SUCCEED IN COLLEGE
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt023156731
IRS990/NetAssetsOrFundBalancesEOYAmt026675885
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt023156731
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt026675885
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt062262
IRS990/OccupancyGrp/ProgramServicesAmt0969083
IRS990/OccupancyGrp/TotalAmt01031345
IRS990/OfficeExpensesGrp/ProgramServicesAmt0172338
IRS990/OfficeExpensesGrp/TotalAmt0172338
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03356394
IRS990/OtherAssetsTotalGrp/EOYAmt03455651
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08862
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0825122
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0833984
IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1DUES AND MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc2STUDENT SERVICES
IRS990/OtherExpensesGrp/Desc3EQUIPMENT/BOOKS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0400530
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1193398
IRS990/OtherExpensesGrp/ProgramServicesAmt01119294
IRS990/OtherExpensesGrp/ProgramServicesAmt1405078
IRS990/OtherExpensesGrp/ProgramServicesAmt2283213
IRS990/OtherExpensesGrp/ProgramServicesAmt373107
IRS990/OtherExpensesGrp/TotalAmt01519824
IRS990/OtherExpensesGrp/TotalAmt1405078
IRS990/OtherExpensesGrp/TotalAmt2283213
IRS990/OtherExpensesGrp/TotalAmt3266505
IRS990/OtherLiabilitiesGrp/BOYAmt0463394
IRS990/OtherLiabilitiesGrp/EOYAmt0390590
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt018720
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01210573
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt010520413
IRS990/OtherSalariesAndWagesGrp/TotalAmt011749706
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01833
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt010328
IRS990/PayrollTaxesGrp/ProgramServicesAmt0908198
IRS990/PayrollTaxesGrp/TotalAmt0920359
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0862874
IRS990/PensionPlanContributionsGrp/TotalAmt0862874
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025080
IRS990/PrincipalOfficerNm0DREW SIPPEL
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt020432340
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0146248
IRS990/PYOtherExpensesAmt04303420
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt02372852
IRS990/PYSalariesCompEmpBnftPaidAmt013902316
IRS990/PYTotalExpensesAmt018205736
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt020578588
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03519152
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014590988
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014738108
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/EquipmentGrp/BookValueAmt0211361
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026269
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0237630
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt020325032
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01509103
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11242588
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2636890
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt367070
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TCRS STABILIZATION TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RIGHT OF USE LEASE ASSET
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0163561
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163561
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0322087
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt168503
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt023844184
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT OF THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, 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. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE SCHOOL BELIEVES THAT IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0374922
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03455651
IRS990ScheduleD/TotalExpensesPerForm990Amt020325032
IRS990ScheduleD/TotalLiabilityAmt0390590
IRS990ScheduleD/TotalRevenuePerForm990Amt023844184
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt023844184
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt020325032
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/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL MATERIALS RELATED TO SOLICITATION FOR STUDENTS, INCLUDING REGISTRATION MATERIALS, CLEARLY DESCRIBES THE SCHOOL'S NON-DISCRIMINATION POLICIES IN AN ATTEMPT TO INFORM THE ENTIRE COMMUNITY OF ITS NON-DISCRIMINATORY POLICIES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVED GRANTS FROM THE TENNESSEE DEPARTMENT OF EDUCATION OF $16,352,863 AND U.S. DEPARTMENT OF EDUCATION GRANTS OF $5,666,607.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0245066
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1158109
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,358,569
Liabilities
$682,684
Net assets
$26,675,885
Revenue
$23,844,184
Expenses
$20,325,032
Net income
$3,519,152
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$30.4$1.33$29.1$21.5$19.2$2.37
2024Detailed filing. Detailed filing data is available for this year.$27.4$0.68$26.7$23.8$20.3$3.52
2023Detailed filing. Detailed filing data is available for this year.$24.0$0.81$23.2$20.6$18.2$2.37
2022Detailed filing. Detailed filing data is available for this year.$24.5$3.74$20.8$20.3$16.2$4.03
2021Detailed filing. Detailed filing data is available for this year.$17.4$0.59$16.8$16.0$15.8$0.20
2020Detailed filing. Detailed filing data is available for this year.$17.5$0.84$16.6$15.8$14.4$1.41
2019Detailed filing. Detailed filing data is available for this year.$15.9$0.74$15.2$15.7$13.6$2.09
2018Detailed filing. Detailed filing data is available for this year.$14.3$1.19$13.1$15.4$13.2$2.19
2017Detailed filing. Detailed filing data is available for this year.$12.5$1.60$10.9$14.7$12.5$2.14
2016Detailed filing. Detailed filing data is available for this year.$9.95$1.18$8.77$15.0$12.4$2.56
2015Detailed filing. Detailed filing data is available for this year.$6.27$0.06$6.21$6.11$5.61$0.50
2014Detailed filing. Detailed filing data is available for this year.$6.04$0.20$5.85$5.19$4.36$0.83
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.03$0.01$5.02$0.00