Memphis Rise Academy Inc
- Assets
- $16.6m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 84
- Location
- Memphis, TN
- Founding
- 06/2014
- Data as of
- 06/2021
- EIN
- 46-1614425
Organization Overview
Memphis Rise Academy Inc is located in Memphis, TN. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Memphis Rise Academy Inc employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Rise Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Memphis Rise Academy Inc generated $9.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.1% each year . All expenses for the organization totaled $8.3m during the year ending 06/2021. While expenses have increased by 27.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE STUDENTS IN GRADES 6-12 WITH AN EXCELLENT EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PUBLIC CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Vuylsteke Executive Director | Officer | 40 | $111,995 |
Collins Rainey Vice Chair | OfficerTrustee | 5 | $0 |
James Christopher Hamilton Chair | OfficerTrustee | 5 | $0 |
Laquindra Killingsworth Secretary | OfficerTrustee | 5 | $0 |
Charles Foster Treasurer | OfficerTrustee | 5 | $0 |
Katosha Muse Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metro Construction Llc Construction | 6/29/17 | $307,163 |
Flemimg-associates-architects Pc Construction | 6/29/17 | $297,318 |
Durham School Services Transportation | 6/29/17 | $214,222 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,061,949 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,175,164 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,237,113 |
| Total Program Service Revenue | $7,081,558 |
| Investment income | $25,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,374,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,625 |
| Compensation of current officers, directors, key employees. | $30,406 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,333,747 |
| Pension plan accruals and contributions | $156,364 |
| Other employee benefits | $313,857 |
| Payroll taxes | $328,922 |
| Fees for services: Management | $35,000 |
| Fees for services: Legal | $3,276 |
| Fees for services: Accounting | $91,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,786 |
| Advertising and promotion | $385 |
| Office expenses | $280,350 |
| Information technology | $241,406 |
| Royalties | $0 |
| Occupancy | $255,122 |
| Travel | $181,357 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $634,696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $493,701 |
| Insurance | $0 |
| All other expenses | $95,087 |
| Total functional expenses | $8,310,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,635,513 |
| Savings and temporary cash investments | $157,786 |
| Pledges and grants receivable | $394,200 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,828 |
| Net Land, buildings, and equipment | $12,492,751 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $889,072 |
| Total assets | $16,603,150 |
| Accounts payable and accrued expenses | $225,401 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,828,105 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $221,747 |
| Total liabilities | $12,275,253 |
| Net assets without donor restrictions | $3,830,035 |
| Net assets with donor restrictions | $497,862 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,603,150 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Memphis Rise Academy Inc has recieved totaling $15,106.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $13,750 |
H U G S Inc New Orleans, LA PURPOSE: GENERAL PURPOSE OF THE CHARITY | $1,321 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $35 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Instruction Partners Nashville, TN | $7,038,441 | $15,858,376 |
Alabama Nursing Home Association Education Foundation Montgomery, AL | $40,408,149 | $40,141,575 |
Arkansas Public School Resource Center Inc Little Rock, AR | $6,340,415 | $12,760,504 |
Mission Interests Committee Harrison, AR | $10,271,501 | $13,233,204 |
Centennial Place Academy Inc Atlanta, GA | $7,663,078 | $14,548,051 |
Cross Trails Medical Center Cape Girardeau, MO | $16,622,925 | $13,747,968 |