Oak Service Corporation
- Assets
- $2.5m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 48
- Location
- Memphis, TN
- Founding
- 10/2016
- Data as of
- 06/2023
- EIN
- 47-2411265
Organization Overview
Oak Service Corporation is located in Memphis, TN. The organization was established in 2016. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 06/2023, Oak Service Corporation employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oak Service Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, Oak Service Corporation generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $5.6m during the year ending 06/2023. While expenses have increased by 1.5% 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
OAK SERVICE CORPORATION PERFORMS ADMINISTRATIVE DUTIES FOR NONPROFIT ORGANIZATIONS BY AGREEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ADMINISTRATIVE SERVICES TO NON-PROFIT ORGANIZATIONS VIA WRITTEN AGREEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael W Riley President | OfficerTrustee | 1 | $0 |
Steven S Heck Director | Trustee | 1 | $0 |
Christopher E Peterson Director | Trustee | 1 | $0 |
Justin A Buck Ceo/secretary/treasurer | Officer | 40 | $288,585 |
Robert R Parsons Jr Chief Financial Officer | Officer | 40 | $241,470 |
Lance A Horner Chief Operating Officer | Officer | 40 | $152,275 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,990,855 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $598,921 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,976 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,695,752 |
| Total Program Service Revenue | $1,332,372 |
| Investment income | $53,348 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $350,565 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,392 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$140,786 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,305,322 |
| 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. | $676,869 |
| Compensation of current officers, directors, key employees. | $355,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,867,960 |
| Pension plan accruals and contributions | $62,131 |
| Other employee benefits | $135,390 |
| Payroll taxes | $174,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $46,981 |
| Advertising and promotion | $84,875 |
| Office expenses | $587,818 |
| Information technology | $16,885 |
| Royalties | $0 |
| Occupancy | $148,721 |
| Travel | $3,133 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $563,713 |
| Interest | $0 |
| Payments to affiliates | $830,523 |
| Depreciation, depletion, and amortization | $11,836 |
| Insurance | $5,023 |
| All other expenses | $11,300 |
| Total functional expenses | $5,573,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,273,883 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $295,782 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $100,371 |
| Prepaid expenses and deferred charges | $500 |
| Net Land, buildings, and equipment | $18,968 |
| Investments—publicly traded securities | $121,390 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $703,350 |
| Total assets | $2,514,244 |
| Accounts payable and accrued expenses | $263,313 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $231,485 |
| Total liabilities | $494,798 |
| Net assets without donor restrictions | $2,019,446 |
| Net assets with donor restrictions | $0 |
| 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 | $2,514,244 |