Memphis University School
- Assets
- $70.2m
- Revenue
- $22.5m
- Investments
- $11.7m
- Employees
- 137
- Location
- Memphis, TN
- Founding
- 10/1957
- Data as of
- 07/2022
- 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 07/2022, Memphis University School employed 137 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 07/2022, Memphis University School generated $22.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $20.3m during the year ending 07/2022. While expenses have increased by 1.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS
Describe the Organization's Program Activity:
EDUCATION GRADES 7-12 APPROXIMATELY 636 STUDENTS
FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 204 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter D Sanders Head-Master | Officer | 40 | $341,917 |
Rankin Fowlkes Dir.- Bus Ops | Officer | 40 | $166,064 |
Perry Dement Dir.- Advancement | Officer | 40 | $161,008 |
Bobby Alston Director Of Athletics | 40 | $150,252 | |
Zachary Hansen Director Of College Counseling | 40 | $126,542 | |
William Ray Principal Upper School | 40 | $125,034 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corporate Planning Network Management Consulting | 7/30/22 | $209,416 |
Landscape Workshop Landscaping | 7/30/22 | $113,076 |
Air Technical Services Hvac Contractor | 7/30/22 | $434,472 |
Grinder Taber And Grinder Construction | 7/30/22 | $121,066 |
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 | $3,161,076 |
| Noncash contributions included in lines 1a–1f | $64,625 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,161,076 |
| Total Program Service Revenue | $14,801,882 |
| Investment income | $307,148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,749 |
| Net Gain/Loss on Asset Sales | $4,263,512 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$106,585 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,467,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,704,174 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $745,392 |
| Compensation of current officers, directors, key employees. | $563,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,881,041 |
| Pension plan accruals and contributions | $411,435 |
| Other employee benefits | $1,347,684 |
| Payroll taxes | $686,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $299,205 |
| Fees for services: Accounting | $41,749 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $85,673 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,109,450 |
| Information technology | $167,627 |
| Royalties | $0 |
| Occupancy | $600,357 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,727,216 |
| Insurance | $171,073 |
| All other expenses | $0 |
| Total functional expenses | $20,311,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,046,701 |
| Savings and temporary cash investments | $4,414,116 |
| Pledges and grants receivable | $312,155 |
| Accounts receivable, net | $5,537,485 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $227,518 |
| Prepaid expenses and deferred charges | $32,614 |
| Net Land, buildings, and equipment | $20,188,889 |
| Investments—publicly traded securities | $25,587,794 |
| Investments—other securities | $11,706,053 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,123 |
| Total assets | $70,155,448 |
| Accounts payable and accrued expenses | $148,118 |
| Grants payable | $0 |
| Deferred revenue | $12,450,049 |
| Tax-exempt bond liabilities | $7,368,174 |
| 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 | $208,044 |
| Total liabilities | $20,174,385 |
| Net assets without donor restrictions | $40,633,029 |
| Net assets with donor restrictions | $9,348,034 |
| 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 | $70,155,448 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memphis University School has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Brinkley Foundation Memphis, TN PURPOSE: CHARITABLE | $15,000 |
Endowment Analysis
| Beg. Balance | $43,924,575 |
| Earnings | -$3,940,704 |
| Net Contributions | $1,043,962 |
| Other Expense | $3,196,816 |
| Ending Balance | $37,831,017 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Protestant Episcopal High School In Virginia Alexandria, VA | $560,084,637 | $67,951,795 |
The Baylor School Chattanooga, TN | $270,105,763 | $47,683,171 |
Woodberry Forest School Woodberry Forest, VA | $643,383,708 | $54,060,513 |
University Of Nashville Montgomery Bell Academy Nashville, TN | $303,405,415 | $41,667,135 |
E-Stem High Public Charter Schools Inc Little Rock, AR | $3,447,253 | $31,404,379 |
John Burroughs School St Louis, MO | $206,476,145 | $33,752,535 |
Rabun Gap-Nacoochee School Rabun Gap, GA | $105,001,665 | $32,375,355 |
Tallulah Falls School Inc Tallulah Falls, GA | $76,684,503 | $23,311,796 |
Cary Academy Cary, NC | $92,134,722 | $26,213,526 |
Whitefield Academy Inc Mableton, GA | $76,378,322 | $24,777,271 |
Battle Ground Academy Of Franklin Tennessee Franklin, TN | $62,773,782 | $25,765,415 |
Riverside Military Academy Inc Gainesville, GA | $79,257,666 | $23,072,082 |