Kipp Memphis Inc is located in Memphis, TN. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Kipp Memphis Inc employed 362 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kipp Memphis 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 06/2022, Kipp Memphis Inc generated $25.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $23.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OVERSEES THE QUALITY, SUSTAINABILITY, AND GROWTH OF KIPP SCHOOLS IN MEMPHIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARTER SCHOOL OPERATION: TO PROVIDE INNER-CITY YOUTH COLLEGE-PREPARATORY PUBLIC EDUCATION WITH EMPHASIS ON STRONG ACADEMICS, CHARACTER DEVELOPMENT, AND SUPPORT WITH THE COLLEGE ADMISSIONS PROCESS. CURRENTLY OPERATING FIVE SCHOOLS AND EDUCATING NEARLY 1,700 STUDENTS IN MEMPHIS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kendra Ferguson Executive Director | Officer | 50 | $257,665 |
Gretchen Leavy Managing Director Of Opera | 50 | $139,415 | |
Keith Curtis Managing Director Of Finan | Officer | 50 | $119,105 |
Muna Olaniyi Chief Academic Officer | 50 | $114,615 | |
Ryan Gibbs Governance Chair/ Board Ch | OfficerTrustee | 4 | $0 |
Roquel Crutcher Finance Chair/treasurer | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Technology Lab Computer Support And Services | 6/29/21 | $523,468 |
Enriched Schools Substitute Teachers | 6/29/21 | $219,468 |
Spaces Group Llc Commercial Furniture Dealer | 6/29/21 | $178,054 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $24,708,709 |
All other contributions, gifts, grants, and similar amounts not included above | $242,009 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $24,950,718 |
Total Program Service Revenue | $0 |
Investment income | $2,204 |
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 | $25,479,805 |
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. | $423,285 |
Compensation of current officers, directors, key employees. | $63,492 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $12,510,428 |
Pension plan accruals and contributions | -$252,230 |
Other employee benefits | $1,097,778 |
Payroll taxes | $943,763 |
Fees for services: Management | $0 |
Fees for services: Legal | $27,478 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,019,177 |
Advertising and promotion | $12,987 |
Office expenses | $1,399,281 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,535,887 |
Travel | $11,384 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $16,713 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $196,521 |
Insurance | $66,698 |
All other expenses | $252,892 |
Total functional expenses | $23,420,920 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $5,609,149 |
Pledges and grants receivable | $3,914,062 |
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 | $6,402 |
Net Land, buildings, and equipment | $1,116,724 |
Investments—publicly traded securities | $2,909,635 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $10,912,109 |
Total assets | $24,468,081 |
Accounts payable and accrued expenses | $1,747,319 |
Grants payable | $0 |
Deferred revenue | $1,107,798 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,527,878 |
Total liabilities | $10,382,995 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $14,085,086 |
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 | $24,468,081 |
Over the last fiscal year, we have identified 3 grants that Kipp Memphis Inc has recieved totaling $633,831.
Awarding Organization | Amount |
---|---|
Kipp Foundation San Francisco, CA PURPOSE: POSTSECONDARY CAREER, MATCH, PERSISTENCE, AND TRANSFER & REENROLLMENT WORK; COVID-19 EMERGENCY FUNDING; EARLY LITERACY | $381,831 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $199,000 |
J R Hyde Iii Foundation Memphis, TN PURPOSE: SUPPORT FOR TEACH TO ONE MATH IMPLEMENTATION FOR SY21-22 | $53,000 |
Organization Name | Assets | Revenue |
---|---|---|
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Arkansas Virtual Academy Little Rock, AR | $3,075,159 | $27,721,037 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Kipp Enc Public Schools Gaston, NC | $35,993,575 | $43,410,261 |
Gestalt Community Schools Memphis, TN | $46,137,229 | $27,266,737 |
Foothills Education Center Inc Athens, GA | $29,237,884 | $30,776,964 |
Kipp Memphis Inc Memphis, TN | $24,468,081 | $25,479,805 |
Valor Collegiate Academies Nashville, TN | $48,008,126 | $29,376,935 |