Civic Intelligence

Believe Memphis Academy Inc

990 • Fiscal year 2018 • EIN 81-3760198

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 19, 2018

Organization ProfileWWW.BELIEVEMEMPHISACADEMY.ORG
1250 Vollintine Avenue 2nd FloorMemphis, TN 38107

(901) 205-0484

Siviq Scores

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

Liabilities / Assets

66th percentile

0.12x

Higher debt load relative to assets than 66% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

0.08x

Higher debt load relative to revenue than 63% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

94th percentile

58%

Higher net margin than 94% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

79th percentile

$75,000

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets66th percentile

Assets

$580,452

No earlier filing loaded for comparison.

Net Assets

$509,204

No earlier filing loaded for comparison.

Liabilities

$71,248

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin94th percentile

Revenue

$878,399

No earlier filing loaded for comparison.

Expenses

$369,195

No earlier filing loaded for comparison.

Net Income

$509,204

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 2018: $580,452Liabilities 2018: $71,248Net Assets 2018: $509,2042018Assets 2019: $812,941Liabilities 2019: $62,639Net Assets 2019: $750,3022019Assets 2020: $1,357,198Liabilities 2020: $761,546Net Assets 2020: $595,6522020Assets 2021: $2,457,072Liabilities 2021: $170,660Net Assets 2021: $2,286,4122021Assets 2022: $9,476,795Liabilities 2022: $5,501,140Net Assets 2022: $3,975,6552022Assets 2023: $8,390,818Liabilities 2023: $4,855,401Net Assets 2023: $3,535,4172023Assets 2024: $7,697,196Liabilities 2024: $4,765,092Net Assets 2024: $2,932,1042024Assets 2025: $7,851,699Liabilities 2025: $4,556,322Net Assets 2025: $3,295,3772025

Highlighted filing

2018

Assets$580,452
Liabilities$71,248
Net Assets$509,204
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MRevenue 2018: $878,399Expenses 2018: $369,195Net Income 2018: $509,2042018Revenue 2019: $2,935,023Expenses 2019: $2,693,925Net Income 2019: $241,0982019Revenue 2020: $3,210,971Expenses 2020: $3,365,621Net Income 2020: -$154,6502020Revenue 2021: $5,873,256Expenses 2021: $4,182,497Net Income 2021: $1,690,7592021Revenue 2022: $8,064,736Expenses 2022: $6,375,493Net Income 2022: $1,689,2432022Revenue 2023: $5,157,559Expenses 2023: $5,597,797Net Income 2023: -$440,2382023Revenue 2024: $5,833,604Expenses 2024: $6,436,917Net Income 2024: -$603,3132024Revenue 2025: $7,152,766Expenses 2025: $6,789,493Net Income 2025: $363,2732025

Highlighted filing

2018

Revenue$878,399
Expenses$369,195
Net Income$509,204
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 19, 2018
Return Version
2017v2.3
Gross Receipts
$878,399
Mission and Program Overview

Mission

Believe memphis academy charter school prepares scholars in grades 4 through 8 with the academic rigor, robust supports, and leadership development necessary to excel in high school, thrive in college, and lead lives full of opportunity.

Believe memphis academy charter school prepares scholars in grades 4 through 8 with the academic riogr, robust supports, and leadership development necessary to excel in high school, thrive in college, and lead lives full of opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$509,204▲ $509,204
Cash and Non-Interest-Bearing Accounts$0$306,442▲ $306,442
Prepaid Expenses and Deferred Charges$0$118,448▲ $118,448
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$580,452▲ $580,452
Other Assets Total$0$155,562▲ $155,562
Liabilities
Accounts Payable and Accrued Expenses$0$71,248▲ $71,248
Total Liabilities$0$71,248▲ $71,248
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$509,204▲ $509,204
Total Liabilities and Net Assets / Fund Balance$0$580,452▲ $580,452

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$155,562--
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Danny SongHead of SchoolFT$75,000$75,000
Jeff WarrenDirector of FinanceFT$68,750$68,750

Board Members and Trustees

NameTitle
Lisa SettleBoard Chair
Greg SpillyardsVice-chair
Al Bright JrBoard Member
Elana ColeBoard Member
Jacque RoweBoard Member
Lori KirkpatrickBoard Member
Luke PruettBoard Member
Patrick HendricksBoard Member
Kacy CobleSecretary
Thomas MarinoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$875,625
Program Service Revenue
$0
Investment Income
$2,774
Other Revenue
$0
All Other Contributions
$860,625
Change in Net Assets
$509,204
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$200,023
Other Expenses$168,701
Total Fundraising Expense$10,860
Professional Fundraising Fees$471
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$103,950$74,000-$177,950
Fees for Service Investment Mgmnt Fees-$17,625-$17,625
All Other Expenses$12,138$4,867-$17,005
Payroll Taxes$9,352$3,228-$12,580
Advertising--$10,389$10,389
Fees for Services Legal-$10,270-$10,270
Other Employee Benefits$6,294$3,199-$9,493
Other Expenses$9,245--$9,245
Office Expenses$285$3,903-$4,188
Insurance-$3,955-$3,955
Fees for Services Other-$1,964-$1,964
Information Technology$1,250--$1,250
Fees for Services Professional Fundraising--$471$471
Total Functional Expenses$235,324$123,011$10,860$369,195
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$471
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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

“Upon preparation by an independent accounting firm, the return is reviewed by the board of directors before submission to the irs.”

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

“The directors sign a statement annually confirming their compliance with the conflicts of interest policy.”

Form 990, Part VI, Section B, Line 15

“Compensation for a position is determined as to what is reasonable for the experience, expertise, geography, and needs of the organization. Compensation is reviewed by the board finance committee and discussed and voted on at board meetings. The resulting decision is recorded in the minutes.”

Form 990, Part VI, Section C, Line 18

“The organization's tax documents are available to the public upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Believe Memphis Academy Inc
EIN
81-3760198
Phone
9012050484
Address
1250 VOLLINTINE AVENUE 2ND FLOOR, MEMPHIS, TN 38107

Signing Officer

Name
Jeff Warren
Title
Director of Finance
Phone
9012050484
Signed
2018-11-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Warren
Formed
2017
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
3
Volunteers
0

Preparer

Firm
The Marston Group Plc
Address
1661 INTERNATIONAL DRIVE SUITE 250, MEMPHIS, TN 38120
Preparer
Susan M Lattimore
Phone
9017613003
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0GRANTS RECEIVED FROM THE TENNESSEE CHARTER SCHOOL INCUBATOR.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UPON PREPARATION BY AN INDEPENDENT ACCOUNTING FIRM, THE RETURN IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DIRECTORS SIGN A STATEMENT ANNUALLY CONFIRMING THEIR COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR A POSITION IS DETERMINED AS TO WHAT IS REASONABLE FOR THE EXPERIENCE, EXPERTISE, GEOGRAPHY, AND NEEDS OF THE ORGANIZATION. COMPENSATION IS REVIEWED BY THE BOARD FINANCE COMMITTEE AND DISCUSSED AND VOTED ON AT BOARD MEETINGS. THE RESULTING DECISION IS RECORDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S TAX DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0580452
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0580452
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0875625
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt010860
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0123011
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0235324
IRS990/TotalFunctionalExpensesGrp/TotalAmt0369195
IRS990/TotalGrossUBIAmt02774
IRS990/TotalLiabilitiesEOYAmt071248
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt071248
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0509204
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0235324
IRS990/TotalReportableCompFromOrgAmt0143750
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0878399
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02774
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0580452
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01250 VOLLINTINE AVE 2ND FLOOR
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038107
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0HTTPS://WWW.BELIEVEMEMPHISACADEMY.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF WARREN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum09012050484
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELIEVE MEMPHIS ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0BELI
ReturnHeader/Filer/EIN0813760198
ReturnHeader/Filer/PhoneNum09012050484
ReturnHeader/Filer/USAddress/AddressLine1Txt01250 VOLLINTINE AVENUE 2ND FLOOR
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038107
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A7C3A2D0156244A06A7244C043F7241D57365AEA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A7C3A2D0156244A06A7244C043F7241D57365AEA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0198.0.27.17
ReturnHeader/FilingSecurityInformation/IPDt02018-11-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm011:26:46
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261180446
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE MARSTON GROUP PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01661 INTERNATIONAL DRIVE SUITE 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038120
ReturnHeader/PreparerPersonGrp/PhoneNum09017613003
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN M LATTIMORE
ReturnHeader/ReturnTs02018-11-20T14:07:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$580,452
Liabilities
$71,248
Net assets
$509,204
Revenue
$878,399
Expenses
$369,195
Net income
$509,204
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.85$4.56$3.30$7.15$6.79$0.36
2024Detailed filing. Detailed filing data is available for this year.$7.70$4.77$2.93$5.83$6.44$0.60
2023Detailed filing. Detailed filing data is available for this year.$8.39$4.86$3.54$5.16$5.60$0.44
2022Detailed filing. Detailed filing data is available for this year.$9.48$5.50$3.98$8.06$6.38$1.69
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.46$0.17$2.29$5.87$4.18$1.69
2020Detailed filing. Detailed filing data is available for this year.$1.36$0.76$0.60$3.21$3.37$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.81$0.06$0.75$2.94$2.69$0.24
2018Detailed filing. Detailed filing data is available for this year.$0.58$0.07$0.51$0.88$0.37$0.51