2023-04-13T14:35:25-05:00 2022-07-31 440160260 FORVIS LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2021-08-01 620545618 MEMPHIS UNIVERSITY SCHOOL MEMP 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 RANKIN FOWLKES DIRECTOR OF BUSINESS OPERATIONS 9012601300 2023-03-31 1 RANKIN FOWLKES 999009999 LAKRISHA J CASTLEBERRY P01677333 9017613000 2023-03-31 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z RANKIN FOWLKES 6191 PARK AVENUE MEMPHIS TN 38119 29678730 0 X WWW.MUSOWLS.ORG X 1955 TN COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS 25 25 137 100 0 0 3890493 3161076 14808545 14801882 4464622 4570660 -64742 -66496 23098918 22467122 2993839 2704174 0 0 11196917 12071596 0 0 950363 5530421 5535806 19721177 20311576 3377741 2155546 76369421 70155448 20614861 20174385 55754560 49981063 MEMPHIS UNIVERSITY SCHOOL IS A COLLEGE-PREPARATORY SCHOOL DEDICATED TO ACADEMIC EXCELLENCE, CULTIVATION OF SERVICE AND LEADERSHIP, AND THE DEVELOPMENT OF WELL-ROUNDED YOUNG MEN OF STRONG MORAL CHARACTER, CONSISTENT WITH THE SCHOOL'S CHRISTIAN TRADITION. 0 0 12467357 14309696 EDUCATION GRADES 7-12 APPROXIMATELY 636 STUDENTS 2704174 2704174 FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 204 STUDENTS 15171531 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 84 0 1 137 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 TN X MS BETH HUNT 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 JAMES F BURNETT CHAIRMAN 2.00 X 0 0 0 GLENN A CROSBY II VICE-CHAIRMAN 2.00 X 0 0 0 D STEPHEN MORROW TREASURER 2.00 X 0 0 0 CHRIS R SANDERS SECRETARY 2.00 X 0 0 0 P TROWBRIDGE GILLESPIE JR BOARD MEMBER 2.00 X 0 0 0 MARK J HALPERIN BOARD MEMBER 2.00 X 0 0 0 R EARL BLANKENSHIP BOARD MEMBER 2.00 X 0 0 0 JOHNNY B MOORE JR BOARD MEMBER 2.00 X 0 0 0 JOSEPH M MORRISON BOARD MEMBER 2.00 X 0 0 0 WILLIAM E ORGEL BOARD MEMBER 2.00 X 0 0 0 WILEY T ROBINSON BOARD MEMBER 2.00 X 0 0 0 BRANDON K ARRINDELL BOARD MEMBER 2.00 X 0 0 0 PHILIP S WUNDERLICH BOARD MEMBER 2.00 X 0 0 0 EDWARD J DOBBS BOARD MEMBER 2.00 X 0 0 0 ROBERT M FOCKLER BOARD MEMBER 2.00 X 0 0 0 J BRETT GRINDER BOARD MEMBER 2.00 X 0 0 0 FREDERICK C SCHAEFFER JR BOARD MEMBER 2.00 X 0 0 0 WILLIAM B DUNAVANT III BOARD MEMBER 2.00 X 0 0 0 JAMES H BARTON JR BOARD MEMBER 2.00 X 0 0 0 ANDREW F CATES BOARD MEMBER 2.00 X 0 0 0 ROBERT J HUSSEY III BOARD MEMBER 2.00 X 0 0 0 JEFFREY B MESKIN BOARD MEMBER 2.00 X 0 0 0 RICHARD C MOORE III BOARD MEMBER 2.00 X 0 0 0 WILLIAM V THOMPSON III BOARD MEMBER 2.00 X 0 0 0 MARGARET C MCLEAN BOARD MEMBER 2.00 X 0 0 0 PETER D SANDERS HEAD-MASTER 40.00 X 341917 0 23680 RANKIN FOWLKES DIR.- BUS OPS 40.00 X 166064 0 14887 PERRY DEMENT DIR.- ADVANCEMENT 40.00 X 161008 0 14634 BOBBY ALSTON DIRECTOR OF ATHLETICS 40.00 X 150252 0 14097 WILLIAM RAY PRINCIPAL UPPER SCHOOL 40.00 X 125034 0 12836 PHILLIP EIKNER ACADEMIC DEAN 40.00 X 114386 0 12303 ZACHARY HANSEN DIRECTOR OF COLLEGE COUNSELING 40.00 X 126542 0 12911 JOSEPH TYLER ASST. PRINCIPAL LOWER SCHOOL 40.00 X 113759 0 12272 1298962 0 117620 8 0 1 0 AIR TECHNICAL SERVICES 3161 STAGE POST DRIVE BARTLETT TN 38133 HVAC CONTRACTOR 434472 CORPORATE PLANNING NETWORK PO BOX 1748 CORDOVA TN 38088 MANAGEMENT CONSULTING 209416 GRINDER TABER AND GRINDER 1919 LYNNFIELD ROAD MEMPHIS TN 38119 CONSTRUCTION 121066 LANDSCAPE WORKSHOP 550 MONTGOMERY HIGHWAY 200 VESTAVIA HILLS AL 35216 LANDSCAPING 113076 4 3161076 64625 3161076 TUITION & FEES 611600 14376192 14376192 ATHLETICS/CAMPS 611710 217635 217635 AUXILLIARY/INSTRUCTIONS REVENUE 611600 162030 162030 CAFETERIA 611710 46025 46025 14801882 307148 307148 31749 0 31749 31749 31749 11247034 6983522 4263512 4263512 4263512 121501 228086 -106585 -106585 VENDING MACHINE 900099 8340 8340 8340 22467122 14309696 0 4996350 2704174 2704174 745392 75237 563915 106240 8881041 5947083 2382351 551607 411435 411435 1347684 1347684 686044 514533 171511 299205 101284 197921 41749 41749 85673 85673 1109450 579194 237740 292516 167627 167627 600357 509368 90989 166494 166494 1727216 1554494 172722 171073 128305 42768 AUXILLIARY EXPENSE 646569 646569 INSTRUCTION & STUDENT A 428631 305420 123211 MISCELLANEOUS 79132 79132 BOND COSTS 12630 12630 20311576 15171531 4189682 950363 2225963 2046701 6508020 4414116 308932 312155 5496207 5537485 182702 227518 12295 32614 52737123 32548234 20863197 20188889 29982066 25587794 10729788 11706053 60251 102123 76369421 70155448 72673 148118 11901015 12450049 8025544 7368174 615629 208044 20614861 20174385 X 46850488 40633029 8904072 9348034 55754560 49981063 76369421 70155448 X 2155546 -8419613 490570 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43924575 1043962 -3940704 3196816 37831017 36983821 736794 9209383 3005423 43924575 37764075 844983 1091166 2716403 36983821 37450004 887807 2436758 3010494 37764075 35629109 1636727 2836900 2652732 37450004 0.75000 0.25000 0 0 281637 281637 30804459 19129016 11675443 5585944 4490926 1095018 16065083 8928292 7136791 20188889 57454 C GT OFFSHORE FUND 11648599 C 11706053 FUNDS HELD IN TRUST 170228 CAPITAL LEASES PAYABLE 37816 208044 X 12242638 -7929043 228086 -7700957 19943595 2523527 2523527 22467122 18016135 228086 228086 17788049 2523527 2523527 20311576 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 50 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. SPENDING POLICY AND HOW THE INVESTMENT OBJECTIVES RELATE TO SPENDING POLICY: THE SCHOOL HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4.5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE CALENDAR YEAR-END PROCEEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE SCHOOL CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE SCHOOL EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE OF 4.5% ANNUALLY. THIS IS CONSISTENT WITH THE SCHOOL'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE SCHOOL HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JULY 31, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 228,086. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,437,854. TRUST INVESTMENT EXPENSE 85,673. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 228,086. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,437,854. TRUST INVESTMENT EXPENSE 85,673. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ADVERTISEMENTS WERE PURCHASED IN SEVERAL LOCAL NEWSPAPERS, LOCAL AND REGIONAL MAGAZINES, AND LOCAL RADIO STATIONS. 1 SCHOLARSHIPS AND FINANCIAL AID 204 2704174 X X 1 1 X 0 0 0 0 0 0 0 0 0 PETER D SANDERS HEAD-MASTER 341917 0 0 0 0 0 17096 0 6584 0 365597 0 0 0 RANKIN FOWLKES DIR.- BUS OPS 166064 0 0 0 0 0 8303 0 6584 0 180951 0 0 0 PERRY DEMENT DIR.- ADVANCEMENT 161008 0 0 0 0 0 8050 0 6584 0 175642 0 0 0 BOBBY ALSTON DIRECTOR OF ATHLETICS 150252 0 0 0 0 0 7513 0 6584 0 164349 0 0 0 SCHEDULE J, LINE 1A TYPE OF BENEFIT: HOUSING ALLOWANCE IS PROVIDED TO THE HEADMASTER. THIS BENEFIT IS FOR THE SCHOOLS CONVENIENCE AND IS NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION SOCIAL CLUB DUES ARE PROVIDED TO THE HEADMASTER. THIS BENEFIT IS FOR THE SCHOOLS CONVENIENCE AND IS NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION. A THE HEALTH EDUCATIONAL AND HOUSING FACILTY BOARD OF SHELBY COUNTY TN 912828F39 2017-06-30 9150000 RETIRE OTHER BOND DEBT 0 0 0 A 1665000 9150000 179975 8970025 0 1 1 1 A 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 BRETT GRINDER MR. GRINDER IS ON THE BOARD OF TRUSTEES 331000 MR. GRINDER IS AN OWNER AT GRINDER TABER AND GRINDER WHICH PROVIDED CONSTRUCTION SERVICES TO MUS 0 TROW GILLESPIE STEVE MORROW TWO BOARD MEMBERS ON BOARD OF TRUSTEES 85000 MUS USES NEWSOUTH FOR INVESTMENT MANAGEMENT SERVICES. BOTH TRUSTEES ARE MEMBERS AT NEWSOUTH. 0 JOHNNY B MOORE JR MR. MOORE IS ON THE BOARD OF TRUSTEES TRUIST BANK PROVIDES BANKING SERVICES TO MUS AND MR. MOORE IS A PRESIDENT WITH THE BANK 0 JIM BURNETT BOARD MEMBER ON BOARD OF TRUSTEES RAYMOND JAMES PROVIDES INVESTMENT MANAGEMENT SERVICES TO MUS. THIS MEMBER IS EMPLOYED THERE. 0 FREDERICK SCHAEFFER JR MR. SCHAEFFER IS ON THE BOARD OF TRUSTEES MR. SCHAEFFER IS THE OWNER OF STRATEGIC FINANCIAL PARTNERS 0 RICHARD C MOORE III MR. MOORE III IS ON THE BOARD OF TRUSTEES MR. MOORE III IS THE DIRECTOR OF BUSINESS DEVELOPMENT AT LEHMAN ROBERTS 0 BRANDON ARRINDELL ANDREW CATES TWO BOARD MEMBERS ON BOARD OF TRUSTEES SOUTHEASTERN ASSET MANAGEMENT PROVIDES INVESTMENT SERVICES TO MUS AND MR ARRINDELL AND MR. CATES ARE MEMBERS THERE 0 X 10 64625 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE HEADMASTER, CONTROLLER AND DIRECTOR OF BUSINESS OPERATIONS REVIEW THE 990 PRIOR TO FILING. THE RETURN WILL BE DISTRIBUTED TO THE BOD FOR REVIEW ALSO. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST SUBMISSIONS BY THE TRUSTEES ARE REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND DETERMINES THE HEADMASTER'S COMPENSATION USING STATISTICS AND BENCHMARKS FROM NAIS SCHOOLS AROUND THE NATION. COMPENSATION FOR ALL PERSONNEL DECIDED UPON BY THE HEADMASTER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON DERIVATIVE FINANCIAL INSTRUMENTS 490,570.