Civic Intelligence

Tennessee Scholar Academies

990 • Fiscal year 2019 • EIN 81-2796759

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 24, 2020

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

53rd percentile

0.18x

Higher debt load relative to assets than 53% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

28th percentile

0.06x

Higher debt load relative to revenue than 28% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

59th percentile

6.0%

Higher net margin than 59% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

39th percentile

$99,953

Higher top officer pay than 39% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

1.3%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$3,380,085

Up $335,958 (+11%) from 2018

Net Assets

Up

$2,771,881

Up $590,612 (+27%) from 2018

Liabilities

Down

$608,204

Down $254,654 (-30%) from 2018

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin59th percentile

Revenue

Up

$9,875,688

Up $128,165 (+1.3%) from 2018

Expenses

Down

$9,285,076

Down $121,587 (-1.3%) from 2018

Net Income

Up

$590,612

Up $249,752 (+73%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2019

Assets$3,380,085
Liabilities$608,204
Net Assets$2,771,881
Open 2019 Filing

Operations Trend

Revenue Growth42nd 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

2019

Revenue$9,875,688
Expenses$9,285,076
Net Income$590,612
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 24, 2020
Return Version
2018v3.2
Gross Receipts
$9,875,688
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$939,342$1,015,637▲ $76,295
Land, Buildings, and Equipment, Net$438,329$574,490▲ $136,161
Pledges and Grants Receivable$488,447$537,572▲ $49,125
Accounts Receivable$198,865$185,508▼ $13,357
Prepaid Expenses and Deferred Charges$83,676$106,444▲ $22,768
Total Assets$3,044,127$3,380,085▲ $335,958
Other Assets Total$895,468$960,434▲ $64,966
Liabilities
Other Liabilities$581,627$516,796▼ $64,831
Unsecured Notes Loans Payable$140,000--
Accounts Payable and Accrued Expenses$141,231$91,408▼ $49,823
Total Liabilities$862,858$608,204▼ $254,654
Net Assets / Fund Balance
Unrestricted Net Assets$2,080,828$2,503,492▲ $422,664
Temporarily Rstr Net Assets$100,441$268,389▲ $167,948
Total Net Assets Fund Balance$2,181,269$2,771,881▲ $590,612
Total Liabilities and Net Assets / Fund Balance$3,044,127$3,380,085▲ $335,958

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$279,964$421,554$701,518
Leasehold Improvements$190,757$66,820$257,577
Other Land Buildings$103,769$86,396$190,165
Other Assets Org$692,045--
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James DennisExecutive DirectorFT$75,377$24,576$99,953
Janai DouglasManaging Director, Program & CurriculumFT$61,154$11,835$72,989
Angela GoodwinManaging Director, Finance & OperationsFT$45,820$20,342$66,162
Erika McmahanSchool Director, MsscFT$14,146$6,110$20,256

Board Members and Trustees

NameTitle
Reggie ManningChair
Cleo GriffinBoard Member
Kela JonesBoard Member
Nicholas HayesBoard Member
Valissia AllenBoard Member
Steven SandersSecretary
Nycole AlstonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
ParcouJanitorial4266 LUCY RD, Millington, TN 38053$310,429
Revenue and Support

Revenue Composition

Contributions and Grants
$9,842,115
Program Service Revenue
$6,064
Investment Income
$0
Other Revenue
$27,509
All Other Contributions
$151,338
Change in Net Assets
$590,612

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,875,688
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,875,688
Total Revenue per Form 990
$9,875,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,575,149
Other Expenses$3,709,927
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,799,749$1,301,457-$4,101,206
Fees for Services Other$686,704$262,980-$949,684
Occupancy$803,995$264-$804,259
Other Employee Benefits$385,511$179,204-$564,715
Current Officers, Directors, Trustees, and Key Employees$271,127$126,033-$397,160
Payroll Taxes$224,663$104,434-$329,097
Depreciation Depletion$193,020--$193,020
Fees for Services Management$186,982--$186,982
Pension Plan Contributions$124,908$58,063-$182,971
All Other Expenses$97,591$42,696-$140,287
Fees for Services Accounting-$125,654-$125,654
Information Technology$85,907$32,899-$118,806
Other Expenses$87,358$2,530-$89,888
Insurance$52,530$-6,610-$45,920
Travel$930$6,046-$6,976
Advertising$1,059$1,622-$2,681
Fees for Services Legal-$591-$591
Interest$583--$583
Total Functional Expenses$6,898,164$2,386,912$0$9,285,076

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,285,076
Total Expenses per Audited Statements$9,285,076
Total Expenses per Form 990$9,285,076
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$343,484
Capital Lease Obligations$173,312
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

“These policies and documents are part of the employee handbook and are 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
2020-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Dennis
Formed
2016
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
118
Volunteers
30

Preparer

Firm
Cherry Bekaert Llp
Address
222 SECOND AVE SOUTH STE 1240, NASHVILLE, TN 37201
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. This is the sole asset of tennessee scholar academies.”

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

“Contracted educational services: program service expenses 686,704. Management and general expenses 262,980. Fundraising expenses 0. Total expenses 949,684.”

Raw XML AppendixShowing 400 of 495 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/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0264
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IRS990/OccupancyGrp/TotalAmt0804259
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0895468
IRS990/OtherAssetsTotalGrp/EOYAmt0960434
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0179204
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0385511
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0564715
IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2SUBSITUTE TEACHERS
IRS990/OtherExpensesGrp/Desc3TELEPHONE AND INTERNET
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt169566
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt245060
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt32530
IRS990/OtherExpensesGrp/ProgramServicesAmt0469455
IRS990/OtherExpensesGrp/ProgramServicesAmt1308431
IRS990/OtherExpensesGrp/ProgramServicesAmt2117661
IRS990/OtherExpensesGrp/ProgramServicesAmt387358
IRS990/OtherExpensesGrp/TotalAmt0503878
IRS990/OtherExpensesGrp/TotalAmt1377997
IRS990/OtherExpensesGrp/TotalAmt2162721
IRS990/OtherExpensesGrp/TotalAmt389888
IRS990/OtherLiabilitiesGrp/BOYAmt0581627
IRS990/OtherLiabilitiesGrp/EOYAmt0516796
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISC REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt027509
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt027509
IRS990/OtherRevenueTotalAmt027509
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01301457
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02799749
IRS990/OtherSalariesAndWagesGrp/TotalAmt04101206
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0104434
IRS990/PayrollTaxesGrp/ProgramServicesAmt0224663
IRS990/PayrollTaxesGrp/TotalAmt0329097
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt058063
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0124908
IRS990/PensionPlanContributionsGrp/TotalAmt0182971
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0488447
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0537572
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt083676
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0106444
IRS990/PrincipalOfficerNm0JAMES DENNIS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0UNIFORMS
IRS990/ProgramServiceRevenueGrp/Desc1STUDENT ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05954
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1110
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05954
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1110
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09729665
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt04066260
IRS990/PYOtherRevenueAmt013836
IRS990/PYProgramServiceRevenueAmt04022
IRS990/PYRevenuesLessExpensesAmt0340860
IRS990/PYSalariesCompEmpBnftPaidAmt05340403
IRS990/PYTotalExpensesAmt09406663
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09747523
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0590612
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06064
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/BookValueAmt0279964
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0421554
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0701518
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09285076
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0190757
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt066820
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0257577
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0268389
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1692045
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFFERRED OUTFLOW RELATED TO PENSION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0103769
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt086396
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0190165
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0343484
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1173312
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS RELATED TO PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE OBLIGATIONS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09875688
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0574490
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0960434
IRS990ScheduleD/TotalExpensesPerForm990Amt09285076
IRS990ScheduleD/TotalLiabilityAmt0516796
IRS990ScheduleD/TotalRevenuePerForm990Amt09875688
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09875688
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09285076
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. THIS IS THE SOLE ASSET OF TENNESSEE SCHOLAR ACADEMIES.
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/ExplanationTxt5THESE POLICIES AND DOCUMENTS ARE PART OF THE EMPLOYEE HANDBOOK AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACTED EDUCATIONAL SERVICES: PROGRAM SERVICE EXPENSES 686,704. MANAGEMENT AND GENERAL EXPENSES 262,980. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 949,684.
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/EndOfYearAssetsAmt03380085
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ESTABLISH SUPPORT, OPERATE, AND MANAGE CHARTER SCHOOLS IN MEMPHIS, TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt09875688
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt090 W OLIVE AVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0MEMPHIS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd038106

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,380,085
Liabilities
$608,204
Net assets
$2,771,881
Revenue
$9,875,688
Expenses
$9,285,076
Net income
$590,612
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
2019Detailed filing. Detailed filing data is available for this year.$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
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