Civic Intelligence

Tennessee Scholar Academies

990 • Fiscal year 2017 • EIN 81-2796759

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

Organization Profilewww.memphisscholars.org

View Organization Page

90 W Olive AveMemphis, TN 38106-4033

(901) 416-7478

Siviq Scores

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

Liabilities / Assets

61st percentile

0.33x

Higher debt load relative to assets than 61% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

26th percentile

0.09x

Higher debt load relative to revenue than 26% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

48th percentile

2.5%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$93,341

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Balance Sheet
Liabilities / Assets61st percentile

Assets

$2,755,421

No earlier filing loaded for comparison.

Net Assets

$1,840,409

No earlier filing loaded for comparison.

Liabilities

$915,012

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin48th percentile

Revenue

$10,688,218

No earlier filing loaded for comparison.

Expenses

$10,423,326

No earlier filing loaded for comparison.

Net Income

$264,892

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.

$10M$5.0M$0Assets 2017: $2,755,421Liabilities 2017: $915,012Net Assets 2017: $1,840,4092017Assets 2018: $3,044,127Liabilities 2018: $862,858Net Assets 2018: $2,181,2692018Assets 2019: $3,380,085Liabilities 2019: $608,204Net Assets 2019: $2,771,8812019Assets 2020: $4,237,856Liabilities 2020: $736,209Net Assets 2020: $3,501,6472020Assets 2021: $4,865,945Liabilities 2021: $1,453,989Net Assets 2021: $3,411,9562021Assets 2022: $8,293,768Liabilities 2022: $2,290,682Net Assets 2022: $6,003,0862022Assets 2023: $5,781,776Liabilities 2023: $970,868Net Assets 2023: $4,810,9082023Assets 2024: $6,610,820Liabilities 2024: $1,098,642Net Assets 2024: $5,512,1782024

Highlighted filing

2017

Assets$2,755,421
Liabilities$915,012
Net Assets$1,840,409
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $10,688,218Expenses 2017: $10,423,326Net Income 2017: $264,8922017Revenue 2018: $9,747,523Expenses 2018: $9,406,663Net Income 2018: $340,8602018Revenue 2019: $9,875,688Expenses 2019: $9,285,076Net Income 2019: $590,6122019Revenue 2020: $9,853,092Expenses 2020: $9,123,326Net Income 2020: $729,7662020Revenue 2021: $8,091,394Expenses 2021: $8,181,085Net Income 2021: -$89,6912021Revenue 2022: $10,042,076Expenses 2022: $7,358,215Net Income 2022: $2,683,8612022Revenue 2023: $8,369,214Expenses 2023: $7,936,292Net Income 2023: $432,9222023Revenue 2024: $9,995,699Expenses 2024: $9,294,429Net Income 2024: $701,2702024

Highlighted filing

2017

Revenue$10,688,218
Expenses$10,423,326
Net Income$264,892
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$10,688,218
Mission and Program Overview

Mission

To inspire and teach all students so that each and every child has the opportunity to choose, and achieve, their future.

a school management organization over Memphis Scholars, a network of three public charter schools offering a whole-child education to students in grades pk-8th grade through the achievement school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$780,102-
Cash and Non-Interest-Bearing Accounts-$642,941-
Land, Buildings, and Equipment, Net$0$577,532▲ $577,532
Prepaid Expenses and Deferred Charges-$99,488-
Accounts Receivable-$52,170-
Total Assets$0$2,755,421▲ $2,755,421
Other Assets Total$0$603,188▲ $603,188
Liabilities
Other Liabilities$0$426,979▲ $426,979
Accounts Payable and Accrued Expenses-$348,033-
Unsecured Notes Loans Payable-$140,000-
Total Liabilities$0$915,012▲ $915,012
Net Assets / Fund Balance
Unrestricted Net Assets-$1,829,304-
Temporarily Rstr Net Assets-$11,105-
Total Net Assets Fund Balance$0$1,840,409▲ $1,840,409
Total Liabilities and Net Assets / Fund Balance$0$2,755,421▲ $2,755,421

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$334,286$217,874$552,160
Leasehold Improvements$130,010$27,878$157,888
Other Land Buildings$113,236$33,260$146,496
Other Assets Org$592,083--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas McPhersonSchool Director, MSFKFT$77,441$15,900$93,341
Janai DouglasSchool Director, MSCGFT$47,242$6,888$54,130
Jerry SandersSchool Director, MSREFT$47,358$6,707$54,065
James DennisManaging Director, SchoolsFT$40,040$7,207$47,247
Nicholas PattersonExecutive DirectorFT$41,582$5,229$46,811
Josh CzuprykManaging Director, AcademicsFT$27,809$5,129$32,938

Board Members and Trustees

NameTitle
Reggie ManningChair
Charles FreyerDirector
Holly ColemanDirector
James LovettDirector
Leon CaldwellDirector
Thomas HoffmannDirector
Winston ChurchillDirector
Jana Wilcox LavinSecretary
Nicholas HayesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Parcoujanitorial4266 Lucy Rd, Millington, TN 38053$169,895
Revenue and Support

Revenue Composition

Contributions and Grants
$10,630,725
Program Service Revenue
$6,412
Investment Income
$0
Other Revenue
$51,081
All Other Contributions
$856,728
Change in Net Assets
$264,892

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,688,218
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,688,218
Total Revenue per Form 990
$10,688,218
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,169,394
Other Expenses$4,253,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,178,207$2,348,555-$4,526,762
Fees for Services Other$870,141$119,782-$989,923
Occupancy$938,846$1,483-$940,329
Other Employee Benefits$313,791$338,331-$652,122
Current Officers, Directors, Trustees, and Key Employees$217,730$234,757-$452,487
Payroll Taxes$177,882$191,794-$369,676
Information Technology$178,161$24,525-$202,686
Fees for Services Accounting$1,000$198,968-$199,968
Fees for Services Management$187,568--$187,568
Depreciation Depletion$187,420--$187,420
Pension Plan Contributions$81,006$87,341-$168,347
Insurance$95,341--$95,341
Other Expenses$14,390$7,820-$22,210
Advertising$8,112$10,743-$18,855
All Other Expenses$10,075$2,999-$13,074
Travel$902$6,941-$7,843
Fees for Services Legal-$3,961-$3,961
Interest$1,440--$1,440
Total Functional Expenses$6,761,782$3,661,544$0$10,423,326

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,423,326
Total Expenses per Audited Statements$10,423,326
Total Expenses per Form 990$10,423,326
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 related to pension$158,095
Capital Lease Obligations$141,793
net pension liability$127,091
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Part VI, Section B, line 11B

“The 990 will be sent to key employees and full Board of Directors for review.”

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

“Compliance is monitored through annual disclosure process and through regularly scheduled board meetings.”

Form 990, Part VI, Section B, line 15

“The executive director's compensation is reviewed by the board of directors, based on market rate for similar positions in memphis and explained in person to the executive director by the board chair. The executive director reviews performance and looks at data from similar positions across memphis for other officers and key employees. The executive director outlines compensation changes during regularly scheduled performance conversations with key employees.”

Form 990, Part VI, Section C, line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Tennessee Scholar Academies
EIN
81-2796759
Phone
9014167478
Address
90 W Olive Ave, Memphis, TN 38106-4033

Signing Officer

Name
Nicholas Patterson
Title
Executive Director
Phone
9014167478
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas Patterson
Formed
2016
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
123
Volunteers
30

Preparer

Firm
Cherry Bekaert Llp
Address
3310 West End Avenue Suite 550, Nashville, TN 37203
Preparer
Sara G Moon
Phone
6153836592
Supplemental Narrative

Additional Explanations

FOrm 990, Part IV, Line 12A & 12B

“Tennessee Scholar Academies did not obtain independent audited financial statements. Memphis Scholars LLC, a single member limited liability company and a disregarded entity of Tennessee Scholar Academies, obtained separate independent audited financial statements.”

Form 990, Part V, Line 1A & 2A

“The 1099s and W-2s reported on lines 1a and 2a were reported under the FEIN for Memphis Scholars LLC, a disregarded entity of Tennessee Scholar Academies.”

Form 990, Part XI, Line 9, Changes in Net Assets:

“Transfer of Net Assets/LLC Interest From Scholar Academies Memphis Scholars LLC was formed on April 29, 2015, as a director-managed nonprofit limited liability company pursuant to the Tennessee Revised Nonprofit Limited Liability Company Act whose sole member was Scholar Academies. Effective July 1, 2016, Scholar Academies transferred all of its membership interest to Tennessee Scholar Academies, a Section 501(c)(3) Tennessee nonprofit corporation. The purpose of Memphis Scholars LLC is to establish, support, and operate and manage one or more charter or contract schools in Memphis, Tennessee, through agreements with the Tennessee Achievement School District ("ASD") or other chartering authorities.”

Raw XML AppendixShowing 400 of 502 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/LandBldgEquipBasisNetGrp/EOYAmt0577532
IRS990/LandBldgEquipCostOrOtherBssAmt0856544
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0To transform low-performing schools to ensure that every child has the knowledge and character to pursue the path to college and opportunities beyond.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesEOYAmt01840409
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt01483
IRS990/OccupancyGrp/ProgramServicesAmt0938846
IRS990/OccupancyGrp/TotalAmt0940329
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0603188
IRS990/OtherChangesInNetAssetsAmt01575517
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0338331
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0313791
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0652122
IRS990/OtherExpensesGrp/Desc0Instructional Materials
IRS990/OtherExpensesGrp/Desc1Supplies
IRS990/OtherExpensesGrp/Desc2Telephone and Internet
IRS990/OtherExpensesGrp/Desc3Professional Developmen
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt019596
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt163544
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2404
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt37820
IRS990/OtherExpensesGrp/ProgramServicesAmt0704472
IRS990/OtherExpensesGrp/ProgramServicesAmt1469415
IRS990/OtherExpensesGrp/ProgramServicesAmt2125883
IRS990/OtherExpensesGrp/ProgramServicesAmt314390
IRS990/OtherExpensesGrp/TotalAmt0724068
IRS990/OtherExpensesGrp/TotalAmt1532959
IRS990/OtherExpensesGrp/TotalAmt2126287
IRS990/OtherExpensesGrp/TotalAmt322210
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0426979
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0misc revenue
IRS990/OtherRevenueMiscGrp/ExclusionAmt051081
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt051081
IRS990/OtherRevenueTotalAmt051081
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt02348555
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02178207
IRS990/OtherSalariesAndWagesGrp/TotalAmt04526762
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0191794
IRS990/PayrollTaxesGrp/ProgramServicesAmt0177882
IRS990/PayrollTaxesGrp/TotalAmt0369676
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt087341
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt081006
IRS990/PensionPlanContributionsGrp/TotalAmt0168347
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0780102
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt099488
IRS990/PrincipalOfficerNm0Nicholas Patterson
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
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IRS990/ProgramServiceRevenueGrp/Desc0uniforms
IRS990/ProgramServiceRevenueGrp/Desc1student activities
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05902
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1510
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05902
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1510
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYExcessBenefitTransInd00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0264892
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06412
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0334286
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0217874
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0552160
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt010423326
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0130010
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt027878
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0157888
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011105
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1592083
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFFERRED OUTFLOW RELATED TO PENSION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0113236
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033260
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0146496
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0127091
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1158095
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2141793
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0net pension liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1deferred inflows related to pension
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CAPITAL LEASE OBLIGATIONS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0577532
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0603188
IRS990ScheduleD/TotalExpensesPerForm990Amt010423326
IRS990ScheduleD/TotalLiabilityAmt0426979
IRS990ScheduleD/TotalRevenuePerForm990Amt010688218
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt010688218
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt010423326
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd00
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0We are a zoned school and we accept all students who live in the zone or meet the eligibility requirements set forth for the ASD. We also include information on our policy in the registration materials.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Line 4b is not applicable as no scholarships or other financial assistance is awarded. Line 4d is not applicable as the organization does not solicit contributions.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 4
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Tennessee Scholar Academies did not obtain independent audited financial statements. Memphis Scholars LLC, a single member limited liability company and a disregarded entity of Tennessee Scholar Academies, obtained separate independent audited financial statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 1099s and W-2s reported on lines 1a and 2a were reported under the FEIN for Memphis Scholars LLC, a disregarded entity of Tennessee Scholar Academies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 990 will be sent to key employees and full Board of Directors for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compliance is monitored through annual disclosure process and through regularly scheduled board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED BY THE BOARD OF DIRECTORS, BASED ON MARKET RATE FOR SIMILAR POSITIONS IN MEMPHIS AND EXPLAINED IN PERSON TO THE EXECUTIVE DIRECTOR BY THE BOARD CHAIR. THE EXECUTIVE DIRECTOR REVIEWS PERFORMANCE AND LOOKS AT DATA FROM SIMILAR POSITIONS ACROSS MEMPHIS FOR OTHER OFFICERS AND KEY EMPLOYEES. THE EXECUTIVE DIRECTOR OUTLINES COMPENSATION CHANGES DURING REGULARLY SCHEDULED PERFORMANCE CONVERSATIONS WITH KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Transfer of Net Assets/LLC Interest From Scholar Academies Memphis Scholars LLC was formed on April 29, 2015, as a director-managed nonprofit limited liability company pursuant to the Tennessee Revised Nonprofit Limited Liability Company Act whose sole member was Scholar Academies. Effective July 1, 2016, Scholar Academies transferred all of its membership interest to Tennessee Scholar Academies, a Section 501(c)(3) Tennessee nonprofit corporation. The purpose of Memphis Scholars LLC is to establish, support, and operate and manage one or more charter or contract schools in Memphis, Tennessee, through agreements with the Tennessee Achievement School District ("ASD") or other chartering authorities.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FOrm 990, Part IV, Line 12a & 12b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part V, Line 1a & 2a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,755,421
Liabilities
$915,012
Net assets
$1,840,409
Revenue
$10,688,218
Expenses
$10,423,326
Net income
$264,892
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.61$1.10$5.51$10.00$9.29$0.70
2023Summary only. Only limited summary data is available for this year.$5.78$0.97$4.81$8.37$7.94$0.43
2022Summary only. Only limited summary data is available for this year.$8.29$2.29$6.00$10.0$7.36$2.68
2021Summary only. Only limited summary data is available for this year.$4.87$1.45$3.41$8.09$8.18$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.24$0.74$3.50$9.85$9.12$0.73
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.38$0.61$2.77$9.88$9.29$0.59
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.04$0.86$2.18$9.75$9.41$0.34
2017Detailed filing. Detailed filing data is available for this year.$2.76$0.92$1.84$10.7$10.4$0.26