2022-06-15T10:02:38-05:00 2021-07-31 440160260 FORVIS LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2020-08-01 620545618 MEMPHIS UNIVERSITY SCHOOL MEMP 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 RANKIN FOWLKES DIRECTOR OF BUSINESS OPERATIONS 9012601300 2022-06-14 1 RANKIN FOWLKES 999009999 LAKRISHA J WATSON P01677333 9017613000 2022-06-14 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z RANKIN FOWLKES 6191 PARK AVENUE MEMPHIS TN 38119 33040759 0 X WWW.MUSOWLS.ORG X 1955 TN COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS 25 25 133 100 0 0 2425287 3890493 14378042 14808545 2708333 4464622 62450 -64742 19574112 23098918 2806272 2993839 0 0 10946019 11196917 0 0 551279 5414235 5530421 19166526 19721177 407586 3377741 64709830 76369421 17456390 20614861 47253440 55754560 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 11923022 14508532 EDUCATION GRADES 7-12 APPROXIMATELY 665 STUDENTS 2993839 2993839 FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 233 STUDENTS 14916861 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 62 0 1 133 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 SAMUEL N GRAHAM II 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 339240 0 23546 RANKIN FOWLKES DIR.- BUS OPS 40.00 X 163606 0 14764 PERRY DEMENT DIR.- ADVANCEMENT 40.00 X 157539 0 14461 BOBBY ALSTON DIRECTOR OF ATHLETICS 40.00 X 148088 0 13988 WILLIAM RAY PRINCIPAL UPPER SCHOOL 40.00 X 122180 0 12693 PHILLIP EIKNER ACADEMIC DEAN 40.00 X 108179 0 11993 ZACHARY HANSEN DIRECTOR OF COLLEGE COUNSELING 40.00 X 121417 0 12655 LOYAL MURPHY PRINCIPAL LOWER SCHOOL 40.00 X 106200 0 11894 1266449 0 115994 8 0 1 0 BEYNON SPORTS SURFACES INC 16 ALT ROAD HUNT VALLEY MD 21030 SPORT SURFACE CONTRACTOR 318135 KENNY FLOOR COVERING 2665 BROAD AVENUE MEMPHIS TN 38112 FLOORING CONTRACTOR 249465 AIR TECHNICAL SERVICES 2856 CELA ROAD MEMPHIS TN 38128 HVAC CONTRACTOR 221273 GRINDER TABER AND GRINDER 1919 LYNNFIELD ROAD MEMPHIS TN 38119 CONSTRUCTION 119186 TENNESSEE BOOK COMPANY PO BOX 277351 ATLANTA GA 30384 EDUCATION MATERIALS 117551 6 1431270 2459223 77678 3890493 TUITION & FEES 611600 14573274 14573274 ATHLETICS/CAMPS 611710 119687 119687 AUXILLIARY/INSTRUCTIONS REVENUE 611600 115584 115584 14808545 417372 417372 28437 0 28437 28437 28437 13811432 9764182 4047250 4047250 4047250 81419 177659 -96240 -96240 VENDING MACHINE 900099 3061 3061 3061 23098918 14508532 0 4699893 2993839 2993839 720767 73767 542766 104234 8539602 5868783 2487342 183477 401373 401373 873775 873775 661400 496050 165350 182484 35368 147116 46245 46245 94400 94400 1393945 830035 300342 263568 175574 175574 538667 454735 83932 187797 187797 1687542 1518788 168754 171953 128965 42988 AUXILLIARY EXPENSE 554023 554023 INSTRUCTION & STUDENT A 398057 311359 86698 MISCELLANEOUS 87104 87104 BOND COSTS 12630 12630 19721177 14916861 4253037 551279 2233116 2225963 3337642 6508020 415737 308932 206884 5496207 160666 182702 18977 12295 51684215 30821018 22043459 20863197 28884420 29982066 7338727 10729788 70202 60251 64709830 76369421 124996 72673 6295305 11901015 8667914 8025544 1416100 0 952075 615629 17456390 20614861 X 38486162 46850488 8767278 8904072 47253440 55754560 64709830 76369421 X 3377741 4842557 280822 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36983821 736794 9209383 3005423 43924575 37764075 844983 1091166 2716403 36983821 37450004 887807 2436758 3010494 37764075 35629109 1636727 2836900 2652732 37450004 33539041 1763791 2875065 2546788 2000 35629109 0.80000 0.20000 0 0 281637 281637 30804459 18472059 12332400 5234722 4187251 1047471 15363397 8161708 7201689 20863197 GT OFFSHORE FUND 10729788 C 10729788 FUNDS HELD IN TRUST 47212 OTHER LIABILITIES 49250 FAIR VALUE OF DERIVATIVE FINANCIAL 433116 CAPITAL LEASES PAYABLE 86051 615629 X 25564257 5123379 177659 5301038 20263219 2835699 2835699 23098918 17063137 177659 177659 16885478 2835699 2835699 19721177 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, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 177,659. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,741,299. TRUST INVESTMENT EXPENSE 94,400. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 177,659. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,741,299. TRUST INVESTMENT EXPENSE 94,400. 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 233 2993839 X X 1 1 X 0 0 0 0 0 0 0 0 0 PETER D SANDERS HEAD-MASTER 339240 0 0 0 0 0 16962 0 6584 0 362786 0 0 0 RANKIN FOWLKES DIR.- BUS OPS 163606 0 0 0 0 0 8180 0 6584 0 178370 0 0 0 PERRY DEMENT DIR.- ADVANCEMENT 157539 0 0 0 0 0 7877 0 6584 0 172000 0 0 0 BOBBY ALSTON DIRECTOR OF ATHLETICS 148088 0 0 0 0 0 7404 0 6584 0 162076 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 995000 9150000 179975 8970025 0 1 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 BRETT GRINDER MR. GRINDER IS ON THE BOARD OF TRUSTEES 115000 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 90000 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 SUNTRUST 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 X 14 77678 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 280,822.