Kipp Memphis Inc
- Assets
- $19.1m
- Revenue
- $29.8m
- Investments
- $0.0
- Employees
- 388
- Location
- Memphis, TN
- Founding
- 09/2003
- Data as of
- 06/2023
- EIN
- 68-0502820
Organization Overview
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 06/2023, Kipp Memphis Inc employed 388 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 06/2023, Kipp Memphis Inc generated $29.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $30.1m during the year ending 06/2023. While expenses have increased by 1.5% per year over the past 8 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
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 FOUR SCHOOLS AND EDUCATING NEARLY 1,300 STUDENTS IN MEMPHIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mikara Davis Governance Chair/ Board Ch | OfficerTrustee | 4 | $0 |
Dr Laritha Sweet Finance Chair/treasurer | OfficerTrustee | 2 | $0 |
Dorsey Hobson Vice Board Chair/governance Chair | Trustee | 2 | $0 |
Desiree Lyles-Wallace Secretary | Trustee | 2 | $0 |
Cheryl Green Academic Excellence Chair | Trustee | 2 | $0 |
Alfred Anderson Operations & Facilities Chair | Trustee | 2 | $0 |
Outside Vendors & Contractors
| 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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $24,399,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,887,647 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,287,459 |
| Total Program Service Revenue | $0 |
| Investment income | $121,808 |
| 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 | $29,831,220 |
| 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. | $413,977 |
| Compensation of current officers, directors, key employees. | $62,097 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,689,951 |
| Pension plan accruals and contributions | $1,001,715 |
| Other employee benefits | $911,736 |
| Payroll taxes | $942,645 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,386 |
| 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 | $4,702,267 |
| Advertising and promotion | $25,630 |
| Office expenses | $1,373,319 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,242,916 |
| Travel | $10,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,017 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $208,585 |
| Insurance | $93,932 |
| All other expenses | $0 |
| Total functional expenses | $30,052,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,499,934 |
| Pledges and grants receivable | $5,712,715 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,507,849 |
| Investments—publicly traded securities | $3,108,021 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,267,987 |
| Total assets | $19,096,506 |
| Accounts payable and accrued expenses | $2,680,433 |
| Grants payable | $0 |
| Deferred revenue | $458,441 |
| 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 | $2,093,935 |
| Total liabilities | $5,232,809 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $13,863,697 |
| 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 | $19,096,506 |