Civic Intelligence

Manchester Educational Foundation Inc.

990 • Fiscal year 2021 • EIN 64-0598218

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization ProfileWWW.MANCHESTERACADEMY.ORG
2132 Gordon AvenueYazoo City, MS 39194

(662) 746-5913

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

73rd percentile

0.31x

Higher debt load relative to revenue than 73% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

48th percentile

11%

Higher net margin than 48% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

76th percentile

$115,267

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

61st percentile

16%

Faster asset growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

13%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$2,264,028

Up $304,856 (+16%) from 2020

Net Assets

Up

$1,523,142

Up $426,163 (+39%) from 2020

Liabilities

Down

$740,886

Down $121,307 (-14%) from 2020

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin48th percentile

Revenue

Up

$2,356,164

Up $262,880 (+13%) from 2020

Expenses

Down

$2,090,223

Down $91,651 (-4.2%) from 2020

Net Income

Up

$265,941

Up $354,531 (+400%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,883,412Liabilities 2011: $970,771Net Assets 2011: $912,6412011Assets 2012: $1,906,519Liabilities 2012: $906,610Net Assets 2012: $999,9092012Assets 2013: $2,143,338Liabilities 2013: $945,284Net Assets 2013: $1,198,0542013Assets 2014: $2,159,587Liabilities 2014: $771,811Net Assets 2014: $1,387,7762014Assets 2015: $2,345,905Liabilities 2015: $927,030Net Assets 2015: $1,418,8752015Assets 2016: $2,115,011Liabilities 2016: $936,233Net Assets 2016: $1,178,7782016Assets 2017: $2,228,123Liabilities 2017: $935,114Net Assets 2017: $1,293,0092017Assets 2018: $2,065,659Liabilities 2018: $744,319Net Assets 2018: $1,321,3402018Assets 2019: $1,823,044Liabilities 2019: $642,005Net Assets 2019: $1,181,0392019Assets 2020: $1,959,172Liabilities 2020: $862,193Net Assets 2020: $1,096,9792020Assets 2021: $2,264,028Liabilities 2021: $740,886Net Assets 2021: $1,523,1422021Assets 2022: $2,046,660Liabilities 2022: $618,142Net Assets 2022: $1,428,5182022Assets 2023: $1,811,186Liabilities 2023: $615,048Net Assets 2023: $1,196,1382023Assets 2024: $1,953,011Liabilities 2024: $872,920Net Assets 2024: $1,080,0912024

Highlighted filing

2021

Assets$2,264,028
Liabilities$740,886
Net Assets$1,523,142
Open 2021 Filing

Operations Trend

Revenue Growth50th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,675,957Expenses 2011: $2,535,057Net Income 2011: $140,9002011Expenses 2012: $2,492,5362012Revenue 2013: $2,665,842Expenses 2013: $2,474,678Net Income 2013: $191,1642013Revenue 2014: $2,496,212Expenses 2014: $2,331,734Net Income 2014: $164,4782014Revenue 2015: $2,615,836Expenses 2015: $2,557,226Net Income 2015: $58,6102015Revenue 2016: $2,287,161Expenses 2016: $2,512,103Net Income 2016: -$224,9422016Revenue 2017: $2,431,780Expenses 2017: $2,325,915Net Income 2017: $105,8652017Revenue 2018: $2,477,364Expenses 2018: $2,450,754Net Income 2018: $26,6102018Revenue 2019: $2,204,921Expenses 2019: $2,349,597Net Income 2019: -$144,6762019Revenue 2020: $2,093,284Expenses 2020: $2,181,874Net Income 2020: -$88,5902020Revenue 2021: $2,356,164Expenses 2021: $2,090,223Net Income 2021: $265,9412021Revenue 2022: $2,272,567Expenses 2022: $2,195,417Net Income 2022: $77,1502022Revenue 2023: $2,158,316Expenses 2023: $2,450,188Net Income 2023: -$291,8722023Revenue 2024: $2,378,067Expenses 2024: $2,727,524Net Income 2024: -$349,4572024

Highlighted filing

2021

Revenue$2,356,164
Expenses$2,090,223
Net Income$265,941
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$2,607,793
Mission and Program Overview

Mission

Provide Spiritual, Mental, Physical, Leadership Training to over 500 children in classroom settings

The organization is a college preparatory school actively seeking to ensure that each student develops in body, mind and spirit in the pursuit of academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,097,389$1,057,604▼ $39,785
Investments in Publicly Traded Securities$458,380$575,577▲ $117,197
Cash and Non-Interest-Bearing Accounts$302,471$537,502▲ $235,031
Accounts Receivable$77,771$63,841▼ $13,930
Savings and Temporary Cash Investments$21,195$21,264▲ $69
Inventories for Sale or Use$1,917$8,191▲ $6,274
Total Assets$1,959,172$2,264,028▲ $304,856
Other Assets Total$49$49→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$550,037$524,361▼ $25,676
Other Liabilities$207,597$164,463▼ $43,134
Accounts Payable and Accrued Expenses$104,559$52,062▼ $52,497
Total Liabilities$862,193$740,886▼ $121,307
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$649,599$890,535▲ $240,936
Net Assets With Donor Restrictions$447,380$632,607▲ $185,227
Total Net Assets Fund Balance$1,096,979$1,523,142▲ $426,163
Total Liabilities and Net Assets / Fund Balance$1,959,172$2,264,028▲ $304,856

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$915,254$3,148,284$4,063,538
Land$142,350-$142,350

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$458,380-▲ $122,356-$575,577
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bryan DendyHeadmasterFT$115,267$115,267

Board Members and Trustees

NameTitle
Byron KellyPresident
Betty SimmonsDirector
Brett RobinsonDirector
De PaulDirector
Dixie RobertsDirector
Jay WhiteDirector
Jimmy DrueyDirector
Joey BeidlemanDirector
Lucy BainDirector
Nathan BurtonDirector
Rob DixonDirector
Sara Beth PillowSecretary
Jeffery CarenterVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$368,549
Program Service Revenue
$1,824,375
Investment Income
$33,610
Other Revenue
$129,630
All Other Contributions
$3,690
Change in Net Assets
$265,941

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,356,164
Total Revenue per Audited Statements
$2,356,164
Total Revenue per Form 990
$2,356,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,401,402
Other Expenses$688,821
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,015,743$226,651-$1,242,394
Occupancy$121,723$67,597-$189,320
Depreciation Depletion$120,954$10,518-$131,472
Payroll Taxes$79,949$22,306-$102,255
Insurance$54,459$4,736-$59,195
Current Officers, Directors, Trustees, and Key Employees-$56,753-$56,753
Office Expenses-$44,663-$44,663
Fees for Services Accounting-$26,671-$26,671
Advertising-$16,988-$16,988
Information Technology$12,913$1,123-$14,036
Other Expenses$17,050$9,523-$9,523
Interest$6,367$554-$6,921
Fees for Service Investment Mgmnt Fees-$5,159-$5,159
Conferences and Meetings$3,348--$3,348
Travel$2,409--$2,409
Total Functional Expenses$1,586,033$504,190$0$2,090,223

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,090,223
Total Expenses per Audited Statements$2,090,223
Total Expenses per Form 990$2,090,223
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$115,800
Fundraising Direct Expenses$24,344
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Raffle$90,975$90,975-$90,975
Ag Auction$17,800$17,800-$17,800
Total Events$115,800$115,800$24,344$91,456
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Revenue$104,022
Lease Payable$60,441
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
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, Page 6, Part VI, Line 6

“Parents of enrolled students are considered members "patrons".”

Form 990, Page 6, Part VI, Line 7A

“Board of directors are elected by patrons.”

Form 990, Page 6, Part VI, Line 11B

“The 990 is reviewed by the preparing cpa and management prior to filng.”

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

“Annually, the board of directors are asked to disclose interests that could give rise to conflicts.”

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

“Headmaster compensation is approved by the board annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and policies are available to be viewed in the school office upon request.”

Filing and Contact Details

Filer

Filer Name
Manchester Educational Foundation
EIN
64-0598218
Phone
6627465913
Address
2132 GORDON AVENUE, YAZOO CITY, MS 39194

Signing Officer

Name
Byron Kelly
Title
President
Phone
6627465913
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Byron Kelly
Formed
1969
Legal Domicile
Ms
Voting Board Members
13
Independent Board Members
13
Employees
64

Preparer

Firm
Corbin & Biggs Pllc
Address
PO BOX 930, RIDGELAND, MS 39158
Preparer
George M Biggs Jr
Phone
6019572001
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Support of school operations.”

Schedule D, Page 3, Part X

“Manchester educational foundation operates as a tax-exempt organization under internal revenue code section 501(c)(3). Accounting rules prescribe when to recognize and how to measure the financial statement effect, if any, of income taxes positions taken or expected to be take on income tax returns including the position that manchester educational foundation continutes to qualify as a tax-exempt organization. Management evaluates the likelihood that, upon examiniation by relevant taxing jurisdictions, those income tax positions would be sustained. Based on that evaluation, if it were more than 50% probable that a material amount of income tax would be imposed on manchester educaitonal foundation upon examination by relevant taxing authorities a liability would be recognized in the statement of financial position along with any interest and penalties that would result from that assessment. Should any penalties and interest be incurred, manchester educational foundation's policy would be to recognize them as operating expenses. Based on management's evaluation, no liabilities or penalties and interest are required to be recorded for uncertain tax position. The years ended june 30, 2021, 2020 and 2019 are subject to examination by the interal revenue service and mississippi department of revenue.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3HEADMASTER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc1TEACHING SUPPLIES
IRS990/OtherExpensesGrp/Desc2DUES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010948
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt19523
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IRS990/OtherExpensesGrp/TotalAmt210948
IRS990/OtherExpensesGrp/TotalAmt39523
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0226651
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01242394
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt022306
IRS990/PayrollTaxesGrp/ProgramServicesAmt079949
IRS990/PayrollTaxesGrp/TotalAmt0102255
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0BYRON KELLY
IRS990/PriorPeriodAdjustmentsAmt071475
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TUITION & FEES
IRS990/ProgramServiceRevenueGrp/Desc1SCHOOL ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc2BUILDING ASSESSMENTS
IRS990/ProgramServiceRevenueGrp/Desc3AFTER-SCHOOL CARE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt145261
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt239140
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt145261
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt239140
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt313141
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IRS990/PYContributionsGrantsAmt063258
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt010927
IRS990/PYOtherExpensesAmt0801308
IRS990/PYOtherRevenueAmt062618
IRS990/PYProgramServiceRevenueAmt01956481
IRS990/PYRevenuesLessExpensesAmt0-88590
IRS990/PYSalariesCompEmpBnftPaidAmt01380566
IRS990/PYTotalExpensesAmt02181874
IRS990/PYTotalRevenueAmt02093284
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/ReconcilationRevenueExpnssAmt0265941
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt021195
IRS990/SavingsAndTempCashInvstGrp/EOYAmt021264
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
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IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0458380
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0575577
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0122356
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0915254
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03148284
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04063538
IRS990ScheduleD/ExpensesSubtotalAmt02090223
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0142350
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0142350
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0104022
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt160441
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNEARNED REVENUE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt02356164
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SUPPORT OF SCHOOL OPERATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MANCHESTER EDUCATIONAL FOUNDATION OPERATES AS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCOUNTING RULES PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECT, IF ANY, OF INCOME TAXES POSITIONS TAKEN OR EXPECTED TO BE TAKE ON INCOME TAX RETURNS INCLUDING THE POSITION THAT MANCHESTER EDUCATIONAL FOUNDATION CONTINUTES TO QUALIFY AS A TAX-EXEMPT ORGANIZATION. MANAGEMENT EVALUATES THE LIKELIHOOD THAT, UPON EXAMINIATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED ON MANCHESTER EDUCAITONAL FOUNDATION UPON EXAMINATION BY RELEVANT TAXING AUTHORITIES A LIABILITY WOULD BE RECOGNIZED IN THE STATEMENT OF FINANCIAL POSITION ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, MANCHESTER EDUCATIONAL FOUNDATION'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. BASED ON MANAGEMENT'S EVALUATION, NO LIABILITIES OR PENALTIES AND INTEREST ARE REQUIRED TO BE RECORDED FOR UNCERTAIN TAX POSITION. THE YEARS ENDED JUNE 30, 2021, 2020 AND 2019 ARE SUBJECT TO EXAMINATION BY THE INTERAL REVENUE SERVICE AND MISSISSIPPI DEPARTMENT OF REVENUE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,264,028
Liabilities
$740,886
Net assets
$1,523,142
Revenue
$2,356,164
Expenses
$2,090,223
Net income
$265,941
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$0.87$1.08$2.38$2.73$0.35
2023Detailed filing. Detailed filing data is available for this year.$1.81$0.62$1.20$2.16$2.45$0.29
2022Detailed filing. Detailed filing data is available for this year.$2.05$0.62$1.43$2.27$2.20$0.08
2021Detailed filing. Detailed filing data is available for this year.$2.26$0.74$1.52$2.36$2.09$0.27
2020Detailed filing. Detailed filing data is available for this year.$1.96$0.86$1.10$2.09$2.18$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.82$0.64$1.18$2.20$2.35$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.07$0.74$1.32$2.48$2.45$0.03
2017Detailed filing. Detailed filing data is available for this year.$2.23$0.94$1.29$2.43$2.33$0.11
2016Detailed filing. Detailed filing data is available for this year.$2.12$0.94$1.18$2.29$2.51$0.22
2015Detailed filing. Detailed filing data is available for this year.$2.35$0.93$1.42$2.62$2.56$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.16$0.77$1.39$2.50$2.33$0.16
2013Summary only. Only limited summary data is available for this year.$2.14$0.95$1.20$2.67$2.47$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.91$0.91$1.00$2.49
2011Summary only. Only limited summary data is available for this year.$1.88$0.97$0.91$2.68$2.54$0.14