Memphis Business Academy
- Assets
- $29.9m
- Revenue
- $21.3m
- Investments
- $0.0
- Employees
- 197
- Location
- Memphis, TN
- Founding
- 02/2005
- Data as of
- 06/2021
- EIN
- 20-1195290
Organization Overview
Memphis Business Academy is located in Memphis, TN. The organization was established in 2005. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Memphis Business Academy employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Business Academy 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 Business Academy generated $21.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $16.9m during the year ending 06/2021. While expenses have increased by 12.1% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE SCHOOL IS TO IMPROVE THE ACADEMIC ACHIEVEMENT OF ELEMENTARY, MIDDLE AND HIGH SCHOOLS IN MATH, SCIENCE, SOCIAL STUDIES AND LANGUAGE ARTS WITH A BUSINESS/FINANCE EMPHASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Anderson CEO | Officer | 40 | $188,474 |
Dr Menthia P Bradley COO | Officer | 40 | $122,820 |
Nancy S Reeves CFO | Officer | 40 | $122,820 |
Sirgregory Thorton Vice Preside | OfficerTrustee | 1 | $0 |
Tony Reeder Chairman | OfficerTrustee | 5 | $0 |
Barbara Bennet Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,679,969 |
| All other contributions, gifts, grants, and similar amounts not included above | $227,653 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,907,622 |
| Total Program Service Revenue | $0 |
| Investment income | $267,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$121 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,343,740 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,321,524 |
| Pension plan accruals and contributions | $331,229 |
| Other employee benefits | $1,122,656 |
| Payroll taxes | $763,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,251 |
| Fees for services: Accounting | $69,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $150,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,224,549 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $432,615 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $788,121 |
| Insurance | $163,318 |
| All other expenses | $4,653 |
| Total functional expenses | $16,936,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,621,589 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,182,377 |
| Accounts receivable, net | $198,227 |
| 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 | $335,021 |
| Net Land, buildings, and equipment | $10,461,902 |
| Investments—publicly traded securities | $4,123,487 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,962,000 |
| Total assets | $29,884,603 |
| Accounts payable and accrued expenses | $175,189 |
| 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 | $12,171,410 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,157,621 |
| Total liabilities | $14,504,220 |
| Net assets without donor restrictions | $12,302,720 |
| Net assets with donor restrictions | $3,077,663 |
| 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 | $29,884,603 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Memphis Business Academy has recieved totaling $51,640.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $25,000 |
Charis Foundation Knoxville, TN PURPOSE: SUPPORT FOR TUTORING PROGRAMS | $10,500 |
Charis Foundation Knoxville, TN PURPOSE: SUPPORT FOR TUTORING PROGRAMS | $10,500 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $2,180 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $2,180 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $640 |
Peer Organizations
| 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 |