Civic Intelligence

Tennessee Scholar Academies

990 • Fiscal year 2018 • EIN 81-2796759

Jul 01, 2017 to Jun 30, 2018 • Filed on May 21, 2019

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

62nd percentile

0.28x

Higher debt load relative to assets than 62% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

35th percentile

0.09x

Higher debt load relative to revenue than 35% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

52nd percentile

3.5%

Higher net margin than 52% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$148,176

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

74th percentile

10%

Faster asset growth than 74% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

21st percentile

-8.8%

Faster revenue growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$3,044,127

Up $288,706 (+10%) from 2017

Net Assets

Up

$2,181,269

Up $340,860 (+19%) from 2017

Liabilities

Down

$862,858

Down $52,154 (-5.7%) from 2017

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin52nd percentile

Revenue

Down

$9,747,523

Down $940,695 (-8.8%) from 2017

Expenses

Down

$9,406,663

Down $1,016,663 (-9.8%) from 2017

Net Income

Up

$340,860

Up $75,968 (+29%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

2018

Assets$3,044,127
Liabilities$862,858
Net Assets$2,181,269
Open 2018 Filing

Operations Trend

Revenue Growth21st percentile

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

2018

Revenue$9,747,523
Expenses$9,406,663
Net Income$340,860
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 21, 2019
Return Version
2017v2.3
Gross Receipts
$9,747,523
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
Cash and Non-Interest-Bearing Accounts$642,941$939,342▲ $296,401
Pledges and Grants Receivable$780,102$488,447▼ $291,655
Land, Buildings, and Equipment, Net$577,532$438,329▼ $139,203
Accounts Receivable$52,170$198,865▲ $146,695
Prepaid Expenses and Deferred Charges$99,488$83,676▼ $15,812
Total Assets$2,755,421$3,044,127▲ $288,706
Other Assets Total$603,188$895,468▲ $292,280
Liabilities
Other Liabilities$426,979$581,627▲ $154,648
Accounts Payable and Accrued Expenses$348,033$141,231▼ $206,802
Unsecured Notes Loans Payable$140,000$140,000→ $0
Total Liabilities$915,012$862,858▼ $52,154
Net Assets / Fund Balance
Unrestricted Net Assets$1,829,304$2,080,828▲ $251,524
Temporarily Rstr Net Assets$11,105$100,441▲ $89,336
Total Net Assets Fund Balance$1,840,409$2,181,269▲ $340,860
Total Liabilities and Net Assets / Fund Balance$2,755,421$3,044,127▲ $288,706

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$190,134$376,808$566,942
Leasehold Improvements$143,150$44,294$187,444
Other Land Buildings$105,045$58,613$163,658
Other Assets Org$795,027--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James DennisManaging Director, SchoolsFT$121,800$26,376$148,176
Nicholas PattersonExecutive DirectorFT$121,731$18,106$139,837
Josh CzuprykManaging Director, AcademicsFT$91,000$22,046$113,046
Janai DouglasSchool Director, MscgFT$96,350$13,296$109,646
Jerry SandersSchool Director, MsreFT$44,577$6,147$50,724
Thomas McphersonSchool Director, MsfkFT$37,255$8,450$45,705

Board Members and Trustees

NameTitle
Reggie ManningChair
Holly ColemanDirector
Leon CaldwellDirector
Jana Wilcox LavinSecretary
Nicholas HayesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
ParcouJanitorial4266 LUCY RD, Millington, TN 38053$307,595
Revenue and Support

Revenue Composition

Contributions and Grants
$9,729,665
Program Service Revenue
$4,022
Investment Income
$0
Other Revenue
$13,836
All Other Contributions
$168,950
Change in Net Assets
$340,860

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,747,523
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,747,523
Total Revenue per Form 990
$9,747,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,340,403
Other Expenses$4,066,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,495,131$1,284,985-$3,780,116
Fees for Services Other$1,149,698$225,334-$1,375,032
Occupancy$808,738$211-$808,949
Other Employee Benefits$341,709$175,979-$517,688
Current Officers, Directors, Trustees, and Key Employees$290,842$149,783-$440,625
Payroll Taxes$199,014$102,491-$301,505
Pension Plan Contributions$198,330$102,139-$300,469
Depreciation Depletion$200,704--$200,704
Fees for Services Management$191,141--$191,141
Information Technology$126,527$24,798-$151,325
Fees for Services Accounting-$132,140-$132,140
All Other Expenses$29,298$18,841-$48,139
Other Expenses$43,019$2,364-$45,383
Insurance$38,824$1,135-$39,959
Advertising$3,595$2,516-$6,111
Travel-$4,015-$4,015
Interest$1,815--$1,815
Fees for Services Legal-$715-$715
Total Functional Expenses$7,015,513$2,391,150$0$9,406,663

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,406,663
Total Expenses per Audited Statements$9,406,663
Total Expenses per Form 990$9,406,663
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$474,224
Capital Lease Obligations$107,403
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 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. The following is use to determin all compensation: comparison data for similar roles across organizations in the existing market. Scope of position, size of the organization, support needed to in critical positions. Salary comparables from funding partners that support in organizations in our industry. Review of experience, education, and overall potential for growth in the role. Assessment of performance and cultural awareness and acceptance. Surveys of stakeholders to determine "fit and perception of leadership.”

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
James Dennis
Title
Executive Director
Phone
9014167478
Signed
2019-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Dennis
Formed
2016
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
207
Volunteers
30

Preparer

Firm
Cherry Bekaert Llp
Address
222 SECOND AVE SOUTH STE 1240, NASHVILLE, TN 37201
Preparer
Ryan Blankenship
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 IX, Line 11G

“Contract services: program service expenses 1,149,698. Management and general expenses 225,334. Fundraising expenses 0. Total expenses 1,375,032.”

Raw XML AppendixShowing 400 of 486 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/Form990PartVIISectionAGrp/TitleTxt9SCHOOL DIRECTOR, MSCG
IRS990/Form990PartVIISectionAGrp/TitleTxt10SCHOOL DIRECTOR, MSFK
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IRS990/NetAssetsOrFundBalancesBOYAmt01840409
IRS990/NetAssetsOrFundBalancesEOYAmt02181269
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0211
IRS990/OccupancyGrp/ProgramServicesAmt0808738
IRS990/OccupancyGrp/TotalAmt0808949
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0603188
IRS990/OtherAssetsTotalGrp/EOYAmt0895468
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0175979
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0341709
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0517688
IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2TELEPHONE AND INTERNET
IRS990/OtherExpensesGrp/Desc3MISC EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt042171
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1119377
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22156
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt32364
IRS990/OtherExpensesGrp/ProgramServicesAmt0507133
IRS990/OtherExpensesGrp/ProgramServicesAmt1229210
IRS990/OtherExpensesGrp/ProgramServicesAmt2160785
IRS990/OtherExpensesGrp/ProgramServicesAmt343019
IRS990/OtherExpensesGrp/TotalAmt0549304
IRS990/OtherExpensesGrp/TotalAmt1348587
IRS990/OtherExpensesGrp/TotalAmt2162941
IRS990/OtherExpensesGrp/TotalAmt345383
IRS990/OtherLiabilitiesGrp/BOYAmt0426979
IRS990/OtherLiabilitiesGrp/EOYAmt0581627
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISC REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt013836
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt013836
IRS990/OtherRevenueTotalAmt013836
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01284985
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02495131
IRS990/OtherSalariesAndWagesGrp/TotalAmt03780116
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0102491
IRS990/PayrollTaxesGrp/ProgramServicesAmt0199014
IRS990/PayrollTaxesGrp/TotalAmt0301505
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0102139
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0198330
IRS990/PensionPlanContributionsGrp/TotalAmt0300469
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0780102
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0488447
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt099488
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt083676
IRS990/PrincipalOfficerNm0JAMES DENNIS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0UNIFORMS
IRS990/ProgramServiceRevenueGrp/Desc1STUDENT ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02677
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11345
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02677
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11345
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt010630725
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt04253932
IRS990/PYOtherRevenueAmt051081
IRS990/PYProgramServiceRevenueAmt06412
IRS990/PYRevenuesLessExpensesAmt0264892
IRS990/PYSalariesCompEmpBnftPaidAmt06169394
IRS990/PYTotalExpensesAmt010423326
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010688218
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0340860
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt04022
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0190134
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0376808
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0566942
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09406663
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0143150
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt044294
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0187444
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0100441
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1795027
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFFERRED OUTFLOW RELATED TO PENSION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0105045
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt058613
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163658
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0474224
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1107403
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS RELATED TO PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE OBLIGATIONS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09747523
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0438329
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0895468
IRS990ScheduleD/TotalExpensesPerForm990Amt09406663
IRS990ScheduleD/TotalLiabilityAmt0581627
IRS990ScheduleD/TotalRevenuePerForm990Amt09747523
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09747523
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09406663
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 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. THE FOLLOWING IS USE TO DETERMIN ALL COMPENSATION: COMPARISON DATA FOR SIMILAR ROLES ACROSS ORGANIZATIONS IN THE EXISTING MARKET. SCOPE OF POSITION, SIZE OF THE ORGANIZATION, SUPPORT NEEDED TO IN CRITICAL POSITIONS. SALARY COMPARABLES FROM FUNDING PARTNERS THAT SUPPORT IN ORGANIZATIONS IN OUR INDUSTRY. REVIEW OF EXPERIENCE, EDUCATION, AND OVERALL POTENTIAL FOR GROWTH IN THE ROLE. ASSESSMENT OF PERFORMANCE AND CULTURAL AWARENESS AND ACCEPTANCE. SURVEYS OF STAKEHOLDERS TO DETERMINE "FIT AND PERCEPTION OF LEADERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 1,149,698. MANAGEMENT AND GENERAL EXPENSES 225,334. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,375,032.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0TENNESSEE SCHOLAR ACADEMIES
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0MEMPHIS SCHOLARS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0473971856
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt03044127
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ESTABLISH SUPPORT, OPERATE, AND MANAGE CHARTER SCHOOLS IN MEMPHIS, TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt09747523
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt090 W OLIVE AVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0MEMPHIS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd038106
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt011105

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,044,127
Liabilities
$862,858
Net assets
$2,181,269
Revenue
$9,747,523
Expenses
$9,406,663
Net income
$340,860
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
2018Detailed filing. Detailed filing data is available for this year.$3.04$0.86$2.18$9.75$9.41$0.34
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.76$0.92$1.84$10.7$10.4$0.26