Civic Intelligence

Artesian Community School

990 • Fiscal year 2019 • EIN 46-1846698

Jul 01, 2018 to Jun 30, 2019 • Filed on May 14, 2020

111 S Highland 291Memphis, TN 38111

(901) 300-0813

Siviq Scores

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

Liabilities / Assets

60th percentile

0.15x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

43rd percentile

0.06x

Higher debt load relative to revenue than 43% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

75th percentile

18%

Higher net margin than 75% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

67th percentile

$96,367

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

95th percentile

91%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

92nd percentile

82%

Faster revenue growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,114,813

Up $531,685 (+91%) from 2018

Net Assets

Up

$951,597

Up $466,879 (+96%) from 2018

Liabilities

Up

$163,216

Up $64,806 (+66%) from 2018

Revenue

Up

$2,660,025

Up $1,196,073 (+82%) from 2018

Expenses

Up

$2,193,146

Up $639,022 (+41%) from 2018

Net Income

Up

$466,879

Up $557,051 (+618%) from 2018

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2015: $6,184Net Assets 2015: $6,1842015Assets 2016: $139,473Liabilities 2016: $5,283Net Assets 2016: $134,1902016Assets 2017: $481,027Liabilities 2017: $4,911Net Assets 2017: $476,1162017Assets 2018: $583,128Liabilities 2018: $98,410Net Assets 2018: $484,7182018Assets 2019: $1,114,813Liabilities 2019: $163,216Net Assets 2019: $951,5972019Assets 2020: $727,474Liabilities 2020: $189,828Net Assets 2020: $537,6462020

Highlighted filing

2019

Assets$1,114,813
Liabilities$163,216
Net Assets$951,597

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $91,330Expenses 2015: $86,325Net Income 2015: $5,0052015Revenue 2016: $1,200Expenses 2016: $64,580Net Income 2016: -$63,3802016Revenue 2017: $630,001Expenses 2017: $294,778Net Income 2017: $335,2232017Revenue 2018: $1,463,952Expenses 2018: $1,554,124Net Income 2018: -$90,1722018Revenue 2019: $2,660,025Expenses 2019: $2,193,146Net Income 2019: $466,8792019Revenue 2020: $1,349,163Expenses 2020: $1,763,114Net Income 2020: -$413,9512020

Highlighted filing

2019

Revenue$2,660,025
Expenses$2,193,146
Net Income$466,879
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 14, 2020
Return Version
2018v3.2
Gross Receipts
$2,660,025
Mission and Program Overview

Mission

The mission of artesian schools, inc. Is to fill unmet needs in k-12 education to ensure post-secondary readiness for memphis students.

Artesian school's mission is to provide the educational foundation for students to earn college degrees or industry certifications in career fields of their choice.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$171,734$516,574▲ $344,840
Pledges and Grants Receivable$111,208$202,089▲ $90,881
Prepaid Expenses and Deferred Charges$68,108$160,631▲ $92,523
Cash and Non-Interest-Bearing Accounts$168,790$130,540▼ $38,250
Land, Buildings, and Equipment, Net$47,510$36,799▼ $10,711
Accounts Receivable$2,026--
Total Assets$583,128$1,114,813▲ $531,685
Other Assets Total$13,752$68,180▲ $54,428
Liabilities
Accounts Payable and Accrued Expenses$80,964$84,612▲ $3,648
Deferred Revenue$17,446$78,604▲ $61,158
Total Liabilities$98,410$163,216▲ $64,806
Net Assets / Fund Balance
Unrestricted Net Assets$484,718$951,597▲ $466,879
Total Net Assets Fund Balance$484,718$951,597▲ $466,879
Total Liabilities and Net Assets / Fund Balance$583,128$1,114,813▲ $531,685

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,799$16,756$53,555
Other Assets Org$4,730--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Ashley SmithCEO$96,367$96,367

Board Members and Trustees

NameTitle
Sharon JonesChair
Gwendolyn ShieldsVice-chair
Anthony BranchBoard Member
Erica HopkinsBoard Member
Frank CookBoard Member
Lanell SmithBoard Member
Stacia EvansBoard Member
Terrice ThomasSecretary
Edward HarperTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,635,762
Program Service Revenue
$0
Investment Income
$10,766
Other Revenue
$13,497
All Other Contributions
$497,271
Change in Net Assets
$466,879

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,660,025
Total Revenue per Audited Statements
$2,660,025
Total Revenue per Form 990
$2,660,025
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,539,911
Other Expenses$653,235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$859,417$355,314-$1,214,731
Fees for Services Other$355,020$93,171-$448,191
Other Employee Benefits$174,028$51,241-$225,269
Current Officers, Directors, Trustees, and Key Employees$89,920$9,991-$99,911
Other Expenses$41,980$9,005-$50,985
Depreciation Depletion$10,711--$10,711
Total Functional Expenses$1,627,668$565,478$0$2,193,146

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,193,146
Total Expenses per Audited Statements$2,193,146
Total Expenses per Form 990$2,193,146
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
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, Page 6, Part VI, Line 11B

The board's finance committee will review and approve and share with the board of directors at the following board meeting.

Form 990, Page 6, Part VI, Line 12C

Before the board deliberates about or votes on a topic that may be a conflict of interest for a director, that director informs the board and steps out of discussions (if necessary) and excuses her/himself from voting.

Form 990, Page 6, Part VI, Line 15A

The past board chair was a human resources executive who determined compensation ranges for all key positions within the artesian organization. She reviewed salary data for comparable positions in the memphis area. The board's finance committee deliberated over the salary ranges and presented these to the board of directors. The board of directors voted on the ceo's compensation after reviewing the salary range and job description document.

Form 990, Page 6, Part VI, Line 15B

The past board chair was a human resources executive who determined compensation ranges for all key positions within the artesian organization. She reviewed salary data for comparable positions in the memphis area. The board's finance committee deliberated over the salary ranges and presented these to the board of directors. The ceo hired the business operations manager and school principal, and salaries were determined by the salary range and job description document provided by the finance committee. The board of directors voted to approve the organization's final budget which included these 2 positions.

Form 990, Page 6, Part VI, Line 19

Governing documents are available on artesian's website.

Filing and Contact Details

Filer

Filer Name
Artesian Schools Inc
EIN
46-1846698
Phone
9013000813
Address
111 S HIGHLAND 291, MEMPHIS, TN 38111
Doing Business As
Southwest Early College High School

Signing Officer

Name
Ashley Smith
Title
CEO
Phone
9013335681
Signed
2020-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ashley Smith
Formed
2012
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
56
Volunteers
3

Preparer

Firm
Whitehorn Tankersley & Davis Pllc
Address
670 OAKLEAF OFFICE LANE, MEMPHIS, TN 38117-4811
Preparer
Lee E Hood
Phone
9017675080
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

During the fiscal year ending june 30, 2019, artesian schools, inc. Operated southwest early college high school, a public charter high school in memphis, tn. This fiscal year saw the high school double in student population and grow significantly in number of staff. Expenses were driven primarily by student population. The school's main expenses were for faculty and staff and benefits including retirement; school bus transportation; and its facilities lease. As the school is an early college high school and students begin taking college courses as early as 9th grade, the organization paid tuition for these courses to the college. Lastly, the organization purchased materials for, and engaged in, marketing and community outreach in order to recruit students and teachers to the school. These investments in the school's personnel and instructional resources allowed artesian to end its fiscal year with a school that showed higher and faster student growth than the average across the state of tennessee, as measured by college readiness scores on the college's placement exam. One hundred seventy students finished the 2018-2019 school year with 2 college courses complete.

Form 990, Part IX, Line 11G

Contracted services 355,020 93,171 0

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ARTESIAN SCHOOLS, INC. ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL ORIGIN, AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE FISCAL YEAR ENDING JUNE 30, 2019, ARTESIAN SCHOOLS, INC. OPERATED SOUTHWEST EARLY COLLEGE HIGH SCHOOL, A PUBLIC CHARTER HIGH SCHOOL IN MEMPHIS, TN. THIS FISCAL YEAR SAW THE HIGH SCHOOL DOUBLE IN STUDENT POPULATION AND GROW SIGNIFICANTLY IN NUMBER OF STAFF. EXPENSES WERE DRIVEN PRIMARILY BY STUDENT POPULATION. THE SCHOOL'S MAIN EXPENSES WERE FOR FACULTY AND STAFF AND BENEFITS INCLUDING RETIREMENT; SCHOOL BUS TRANSPORTATION; AND ITS FACILITIES LEASE. AS THE SCHOOL IS AN EARLY COLLEGE HIGH SCHOOL AND STUDENTS BEGIN TAKING COLLEGE COURSES AS EARLY AS 9TH GRADE, THE ORGANIZATION PAID TUITION FOR THESE COURSES TO THE COLLEGE. LASTLY, THE ORGANIZATION PURCHASED MATERIALS FOR, AND ENGAGED IN, MARKETING AND COMMUNITY OUTREACH IN ORDER TO RECRUIT STUDENTS AND TEACHERS TO THE SCHOOL. THESE INVESTMENTS IN THE SCHOOL'S PERSONNEL AND INSTRUCTIONAL RESOURCES ALLOWED ARTESIAN TO END ITS FISCAL YEAR WITH A SCHOOL THAT SHOWED HIGHER AND FASTER STUDENT GROWTH THAN THE AVERAGE ACROSS THE STATE OF TENNESSEE, AS MEASURED BY COLLEGE READINESS SCORES ON THE COLLEGE'S PLACEMENT EXAM. ONE HUNDRED SEVENTY STUDENTS FINISHED THE 2018-2019 SCHOOL YEAR WITH 2 COLLEGE COURSES COMPLETE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD'S FINANCE COMMITTEE WILL REVIEW AND APPROVE AND SHARE WITH THE BOARD OF DIRECTORS AT THE FOLLOWING BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEFORE THE BOARD DELIBERATES ABOUT OR VOTES ON A TOPIC THAT MAY BE A CONFLICT OF INTEREST FOR A DIRECTOR, THAT DIRECTOR INFORMS THE BOARD AND STEPS OUT OF DISCUSSIONS (IF NECESSARY) AND EXCUSES HER/HIMSELF FROM VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PAST BOARD CHAIR WAS A HUMAN RESOURCES EXECUTIVE WHO DETERMINED COMPENSATION RANGES FOR ALL KEY POSITIONS WITHIN THE ARTESIAN ORGANIZATION. SHE REVIEWED SALARY DATA FOR COMPARABLE POSITIONS IN THE MEMPHIS AREA. THE BOARD'S FINANCE COMMITTEE DELIBERATED OVER THE SALARY RANGES AND PRESENTED THESE TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS VOTED ON THE CEO'S COMPENSATION AFTER REVIEWING THE SALARY RANGE AND JOB DESCRIPTION DOCUMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PAST BOARD CHAIR WAS A HUMAN RESOURCES EXECUTIVE WHO DETERMINED COMPENSATION RANGES FOR ALL KEY POSITIONS WITHIN THE ARTESIAN ORGANIZATION. SHE REVIEWED SALARY DATA FOR COMPARABLE POSITIONS IN THE MEMPHIS AREA. THE BOARD'S FINANCE COMMITTEE DELIBERATED OVER THE SALARY RANGES AND PRESENTED THESE TO THE BOARD OF DIRECTORS. THE CEO HIRED THE BUSINESS OPERATIONS MANAGER AND SCHOOL PRINCIPAL, AND SALARIES WERE DETERMINED BY THE SALARY RANGE AND JOB DESCRIPTION DOCUMENT PROVIDED BY THE FINANCE COMMITTEE. THE BOARD OF DIRECTORS VOTED TO APPROVE THE ORGANIZATION'S FINAL BUDGET WHICH INCLUDED THESE 2 POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE ON ARTESIAN'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACTED SERVICES 355,020 93,171 0
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