Memphis University School
- Assets
- $77.5m
- Revenue
- $26.9m
- Investments
- $13.7m
- Employees
- 140
- Location
- Memphis, TN
- Founding
- 10/1957
- Data as of
- 07/2023
- EIN
- 62-0545618
Organization Overview
Memphis University School is located in Memphis, TN. The organization was established in 1957. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 07/2023, Memphis University School employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis University School 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 07/2023, Memphis University School generated $26.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $21.2m during the year ending 07/2023. While expenses have increased by 2.5% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION GRADES 7-12 APPROXIMATELY 643 STUDENTS
FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 186 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James F Burnett Chairman | Trustee | 2 | $0 |
Glenn A Crosby II Vice-Chairman | Trustee | 2 | $0 |
Chris R Sanders Secretary | Trustee | 2 | $0 |
D Stephen Morrow Treasurer | Trustee | 2 | $0 |
Brandon K Arrindell Board Member | Trustee | 2 | $0 |
James H Barton Jr Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grinder Taber And Grinder Inc Construction | 7/30/23 | $402,591 |
Musco Sports Lighting Llc Lighting | 7/30/23 | $235,000 |
Warners Athletic Construction | 7/30/23 | $171,000 |
Revival Restoration Services General Contractor | 7/30/23 | $144,989 |
Landscape Workshop Landscaping | 7/30/23 | $122,931 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,678,250 |
| Noncash contributions included in lines 1a–1f | $163,652 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,678,250 |
| Total Program Service Revenue | $15,015,552 |
| Investment income | $475,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,024 |
| Net Gain/Loss on Asset Sales | $729,978 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$82,453 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,867,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,488,932 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $767,047 |
| Compensation of current officers, directors, key employees. | $581,253 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,348,335 |
| Pension plan accruals and contributions | $421,130 |
| Other employee benefits | $1,428,206 |
| Payroll taxes | $726,087 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $394,641 |
| Fees for services: Accounting | $48,141 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,475 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,481,435 |
| Information technology | $165,231 |
| Royalties | $0 |
| Occupancy | $565,147 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $148,378 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,749,034 |
| Insurance | $212,842 |
| All other expenses | $0 |
| Total functional expenses | $21,233,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,592,743 |
| Savings and temporary cash investments | $8,061,548 |
| Pledges and grants receivable | $4,615,916 |
| Accounts receivable, net | $5,886,016 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $228,287 |
| Prepaid expenses and deferred charges | $24,440 |
| Net Land, buildings, and equipment | $19,662,756 |
| Investments—publicly traded securities | $22,713,494 |
| Investments—other securities | $13,650,473 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $99,363 |
| Total assets | $77,535,036 |
| Accounts payable and accrued expenses | $6,853 |
| Grants payable | $0 |
| Deferred revenue | $12,713,714 |
| Tax-exempt bond liabilities | $6,700,804 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $245,185 |
| Total liabilities | $19,666,556 |
| Net assets without donor restrictions | $40,587,865 |
| Net assets with donor restrictions | $17,280,615 |
| 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 | $77,535,036 |