2023-03-31T19:26:47-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 2210 EAST ROUTE 66 GLENDORA CA 91740 990 2021-07-01 680502820 KIPP MEMPHIS KIPP 9014522682 2670 UNION AVENUE EXTENDED NO 1100 MEMPHIS TN 381124430 ANTONIO BURT EXECUTIVE DIRECTOR 9014522682 2023-01-12 1 ANTONIO BURT 999009999 WADE MCMULLEN CPA P00541671 6268577300 2023-01-12 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ANTONIO BURT 2670 UNION AVENUE EXTENDED SUITE 1100 MEMPHIS TN 381124430 25479805 0 X WWW.KIPPMEMPHIS.ORG X 2002 TN OVERSEES THE QUALITY, SUSTAINABILITY, AND GROWTH OF KIPP SCHOOLS IN MEMPHIS. 13 13 362 26 0 0 25162456 24950718 0 0 2943 2204 202288 526883 25367687 25479805 0 0 0 0 14997046 14723024 0 0 0 7955644 8697896 22952690 23420920 2414997 2058885 15710263 24468081 3684062 10382995 12026201 14085086 X KIPP MEMPHIS COLLEGIATE SCHOOLS (KMCS) IS PART OF THE KIPP NON-PROFIT NETWORK OF COLLEGE-PREPARATORY, PUBLIC CHARTER SCHOOLS. KMCS BUILDS A PARTNERSHIP AMONG PARENTS, STUDENTS, AND TEACHERS THAT PUTS LEARNING FIRST. BY PROVIDING OUTSTANDING EDUCATORS, MORE TIME IN SCHOOL LEARNING, AND A STRONG CULTURE OF ACHIEVEMENT, KMCS HELPS ALL STUDENTS CLIMB THE MOUNTAIN TO AND THROUGH COLLEGE. 0 0 18807728 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 FIVE SCHOOLS AND EDUCATING NEARLY 1,700 STUDENTS IN MEMPHIS. 18807728 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 70 0 1 362 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X ANGELA CARR 9013205270 2670 UNION AVENUE EXTENDED SUITE MEMPHIS TN 38112 RYAN GIBBS GOVERNANCE CHAIR/ BOARD CH 4.00 X X 0 0 0 ROQUEL CRUTCHER FINANCE CHAIR/TREASURER 2.00 X X 0 0 0 SABRINA DAWSON BOARD MEMBER 2.00 X 0 0 0 MIKARA DAVIS ACADEMIC CHAIR 2.00 X 0 0 0 CHERYL GREEN BOARD MEMBER 2.00 X 0 0 0 DORSEY HOPSON BOARD MEMBER 2.00 X 0 0 0 MACK MARTIN BOARD MEMBER 2.00 X 0 0 0 HOLLY COLEMAN BOARD MEMBER 2.00 X 0 0 0 TALIA PALACIO BOARD MEMBER 2.00 X 0 0 0 MIKARA DAVIS BOARD MEMBER 2.00 X 0 0 0 ALFRED ANDERSON BOARD MEMBER 2.00 X 0 0 0 AMITY SCHUYLER BOARD MEMBER 2.00 X 0 0 0 DESIREE LYLES-WALLACE BOARD MEMBER 2.00 X 0 0 0 KENDRA FERGUSON EXECUTIVE DIRECTOR 50.00 X 257665 0 82626 KEITH CURTIS MANAGING DIRECTOR OF FINAN 50.00 X 119105 0 21847 ANGELA CARR CHIEF FINANCIAL OFFICER 50.00 X 0 0 0 ANTONIO BURT EXECUTIVE DIRECTOR 50.00 X 0 0 0 GRETCHEN LEAVY MANAGING DIRECTOR OF OPERA 50.00 X 139415 0 14586 MUNA OLANIYI CHIEF ACADEMIC OFFICER 50.00 X 114615 0 13754 630800 0 132813 4 0 1 0 ANJELICA HARDIN HALL 4472 HUGHES MEADOW ROAD MEMPHIS TN 38125 STRATEGIC CONSULTING 110000 1 24708709 242009 24950718 2204 2204 OTHER REVENUE 900099 366018 366018 ERATE 900099 160865 160865 526883 25479805 526883 0 2204 423285 359793 63492 12510428 10403518 2106910 -252230 -367420 115190 1097778 866370 231408 943763 783530 160233 27478 27478 2019177 1648547 370630 12987 4147 8840 1399281 785389 613892 1535887 1497478 38409 11384 7797 3587 16713 16713 196521 196521 66698 -5175 71873 INSTRUCTIONAL MATERIALS 1820092 1210369 609723 FOOD SERVICES 828249 828249 DUES AND MEMBERSHIPS 299273 299273 OTHERS EXPENSES 211264 173439 37825 252892 115903 136989 23420920 18807728 4613192 0 7166021 5609149 710478 3914062 24358 6402 2252558 1135834 268384 1116724 2899187 2909635 4641835 10912109 15710263 24468081 1224153 1747319 1107798 2459909 7527878 3684062 10382995 X 12026201 14085086 0 0 0 0 12026201 14085086 15710263 24468081 2058885 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1058324 119265 939059 279152 138108 141044 875990 839369 36621 39092 39092 0 1116724 DEFERRED OUTFLOWS PENSION 3203269 PENSION ASSET 7708840 10912109 GRANT ADVANCES AND LOANS 1042779 DEFERRED INFLOWS PENSION 6485099 7527878 X 25479805 0 25479805 0 25479805 23420920 0 23420920 0 23420920 PART X, LINE 2: THE SCHOOL HAS BEEN DETERMINED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). AS AN EXEMPT CORPORATION, THE SCHOOL MUST OPERATE IN CONFORMITY WITH THE IRC IN ORDER TO MAINTAIN ITS TAX-EXEMPT STATUS. THE SCHOOL IS ALSO EXEMPT FROM STATE INCOME TAX. THE SCHOOL EVALUATES THE INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX AUTHORITY. THE SCHOOL HAS DETERMINED THAT THE APPLICATION OF THE INCOME TAX STANDARD DOES NOT IMPACT THE OPERATIONS OF THE SCHOOL AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE SCHOOL'S FINANCIAL STATEMENTS. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE CHARTER MAKES ITS NONDISCRIMINATORY POLICY KNOWN THROUGH ITS WEBSITE AND ON THE STUDENTS' APPLICATIONS. THE CHARTER DRAWS ITS STUDENTS FROM THE LOCAL COMMUNITY, AND CURRENTLY ENROLLS STUDENTS FROM VARIOUS RACIAL MINORITY GROUPS. SCHEDULE E, PART I, LINE 4 SCHOLARSHIPS AND FINANCIAL ASSISTANCE AWARDS INFORMATION IS NOT APPLICABLE BECAUSE THERE IS NO COST TO STUDENTS. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES GRANTS FROM THE US DEPARTMENT OF EDUCATION, TENNESSEE DEPARTMENT OF EDUCATION, AND SHELBY COUNTY SCHOOLS. ADDITIONALLY, CHARTER IS ELIGIBLE FOR LOCAL, STATE, AND FEDERAL PROGRAMS. X X X 0 0 0 0 0 0 0 0 0 KENDRA FERGUSON EXECUTIVE DIRECTOR 257665 0 0 0 0 0 72773 0 9853 0 340291 0 0 0 GRETCHEN LEAVY MANAGING DIRECTOR OF OPERA 139415 0 0 0 0 0 9465 0 5121 0 154001 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE CORPORATION SHALL BE KIPP FOUNDATION, A CALIFORNIA CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B THE CHARTER AND BYLAWS MAY BE AMENDED ONLY BY APPROVAL OF BOTH THE SOLE MEMBER AND THE BOARD OF DIRECTORS OF THE CORPORATION. THE SOLE MEMBER SHALL HAVE THE ONLY VOTE AT ANY MEETING OF THE SOLE MEMBER. ANY ACTION WHICH MAY BE AUTHORIZED OR TAKEN AT A MEETING OF THE SOLE MEMBER MAY BE AUTHORIZED OR TAKEN WITHOUT A MEETING, WITHOUT PRIOR NOTICE AND WITHOUT A VOTE IF A CONSENT IN WRITING, SETTING FORTH THE ACTION SO TAKEN, IS SIGNED BY THE SOLE MEMBER. ANY SUCH WRITTEN CONSENT SHALL BE FILED WITH OR ENTERED UPON THE RECORDS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE REVISED RETURN IS THEN SUBMITTED TO THE FINANCE CHAIR/TREASURER FOR THEIR REVIEW AND APPROVAL PRIOR TO SUBMITTING TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST MAY EXIST WHEN THE INTERESTS OR ACTIVITIES OF ANY DIRECTOR, OFFICER OR STAFF MEMBER MAY BE SEEN AS COMPETING WITH THE INTEREST OR ACTIVITIES OF THIS CORPORATION, OR THE DIRECTOR, OFFICER OR STAFF MEMBER DERIVES A FINANCIAL OR OTHER MATERIAL GAIN AS A RESULT OF A DIRECT OR INDIRECT RELATIONSHIP. MONITORING IS PERFORMED REGULARLY BY THE OFFICERS TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. ANY QUESTION OF A CONFLICT IS ADDRESSED WITH THE INTERESTED PERSON, WHO IS REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE AFFORDED THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND EXECUTIVE DIRECTOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE APPROPRIATE ACTION IS TAKEN, INCLUDING LIMITATIONS TO THE INDIVIDUAL'S INFLUENCE ON RELATED BUSINESS MATTERS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S PAY IS DETERMINED BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE EXECUTIVE BOARD MUST VOTE TO APPROVE THE EXECUTIVE DIRECTOR'S COMPENSATION AS A DIRECT ACTION. THE OFFICERS AND KEY EMPLOYEES' PAY IS DETERMINE BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE EXECUTIVE BOARD MUST VOTE TO APPROVE THE OFFICERS AND KEY EMPLOYEES' COMPENSATION AS A DIRECT ACTION. DOCUMENTATION IS TAKEN DURING THE EXECUTIVE BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.