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MEMPHIS TEACHER RESIDENCY INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
MEMPHIS TEACHER RESIDENCY INC (EIN 26-4440905)
Tax period
2020-06-01 to 2021-05-31
Filed
2022-01-27
IRS object ID
202230279349300513
Schema version
2020v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-01-27T10:51:37-06:00ReturnTs
Tax Period End2021-05-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN621114363PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HENDERSON HUTCHERSON & MCCULLOUGH PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11755 KIRBY PARKWAY SUITE 200AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38120ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-06-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN264440905EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MEMPHIS TEACHER RESIDENCY INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMEMPBusinessNameControlTxt
Phone9019374687PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 40713AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38174ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDAVID MONTAGUEPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone9019374687PhoneNum
Signature2022-01-26SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstDAVIDPersonFirstNm
Person LastMONTAGUEPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRICHARD A SWOPE CPAPreparerPersonNm
PTINP00590766PTIN
Phone9016834234PhoneNum
Preparation2022-01-25PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDAVID MONTAGUEPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11350 CONCOURSE AVENUE STE 366AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38104ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,736,462GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.MEMPHISTR.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2009FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionAS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, THE ORGANIZATION WILL PROVIDE STUDENTS IN OUR PARTNER NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS ANY CHILD IN MEMPHIS RECEIVES BY RECRUITING, TRAINING AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.ActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee43TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$6,315,785PYContributionsGrantsAmt
CY Contributions Grants$4,147,062CYContributionsGrantsAmt
PY Program Service Revenue$314,565PYProgramServiceRevenueAmt
CY Program Service Revenue$589,400CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$6,630,350PYTotalRevenueAmt
CY Total Revenue$4,736,462CYTotalRevenueAmt
PY Grants And Similar Paid$86,250PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$117,504CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,413,628PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,533,328CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$77,409CYTotalFundraisingExpenseAmt
PY Other Expenses$2,687,598PYOtherExpensesAmt
CY Other Expenses$2,571,197CYOtherExpensesAmt
PY Total Expenses$5,187,476PYTotalExpensesAmt
CY Total Expenses$5,222,029CYTotalExpensesAmt
PY Revenues Less Expenses$1,442,874PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$485,567CYRevenuesLessExpensesAmt
Total Assets BOY$4,663,316TotalAssetsBOYAmt
Total Assets EOY$4,198,944TotalAssetsEOYAmt
Total Liabilities BOY$12,008TotalLiabilitiesBOYAmt
Total Liabilities EOY$33,203TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$4,651,308NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$4,165,741NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionAS A RESPONSE TO THE GOSPEL MANDATE TO LOVE OUR NEIGHBORS AS OURSELVES, MEMPHIS TEACHER RESIDENCY ("MTR") WILL PROVIDE STUDENTS IN LOW-INCOME MEMPHIS NEIGHBORHOODS WITH THE SAME, OR BETTER, QUALITY OF EDUCATION AS IS AVAILABLE TO ANY STUDENT IN MEMPHIS BY RECRUITING, TRAINING, AND SUPPORTING EFFECTIVE TEACHERS WITHIN A CHRISTIAN CONTEXT.THE VISION OF MTR IS TO USE OUR SPECIFIC WORK WITHIN EDUCATION, IN PARTNERSHIP WITH OTHER HOLISTIC ORGANIZATIONS, TO HELP RESTORE COMMUNITIES SO THAT ALL INDIVIDUALS CAN BECOME EMPOWERED CONTRIBUTORS TO OUR CITY AND PEOPLE OF ALL RACES AND CLASSES CAN ENGAGE WITH ONE ANOTHER IN PEACE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$4,290,350ExpenseAmt
Grant$117,504GrantAmt
Revenue$589,400RevenueAmt
DescRECRUIT, EQUIPS, AND RETAINS EDUCATORS AND TEACHERS TO WORK WITHIN MEMPHIS, TENNESSEE URBAN SCHOOLS AND PROVIDE THE OPPORTUNITY TO RECEIVE CLASSROOM LEARNING ALONG WITH PRACTICAL EXPERIENCE SINCE THE PROGRAM PARTICIPANTS ARE PAIRED WITH AN EXPERIENCED MENTOR-TEACHER IN THEIR CONTENT AREA FOR FOUR DAYS PER WEEK FOR AN ENTIRE SCHOOL YEAR. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE ENDORSEMENTS FOR ELEMENTARY EDUCATION OR SECONDARY EDUCATION IN MATH, BIOLOGY, PHYSICS, CHEMISTRY, SPANISH, HISTORY OR ENGLISH. EACH SUCCESSFUL PARTICIPANT WILL RECEIVE THE FOLLOWING: : MASTERS OF ARTS IN URBAN EDUCATION THROUGH UNION UNIVERSITY : INTENSIVE CLASSROOM EXPERIENCE WITHIN MEMPHIS URBAN SCHOOLS : STATE OF TENNESSEE EDUCATOR LICENSE : LIVING AND HOUSING STIPEND FOR THE 12 MONTH TRAINING PERIOD : ON-GOING EVALUATION AND MENTORING : LEADERSHIP OPPORTUNITIESTHE ESTIMATED COST FOR EACH PARTICIPANT IN THE 12 MONTH TRAINING PROGRAM IS APPROXIMATELY $50,000. THE NUMBER OF PROGRAM PARTICIPANTS FOR THE YEAR ENDED MAY 31, 2021 IS 48.Desc
Total Program Service Expenses$4,290,350TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document227IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee43EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldTNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonBRIDGET GENTRYPersonNm
Phone9019374687PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11350 CONCOURSE AVENUE SUITE 366AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38104ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
TOM MARINO
SECRETARY3.00Yes (X)Yes (X)$0$0$0
DR MAXIE DUNNAM
DIRECTOR1.00Yes (X)$0$0$0
ROBERT MONTAGUE
TREASURER3.00Yes (X)Yes (X)$0$0$0
DAVID HARRIS
CHAIRMAN3.00Yes (X)Yes (X)$0$0$0
DR CAROL JOHNSON
DIRECTOR1.00Yes (X)$0$0$0
DAVID BROWN
DIRECTOR1.00Yes (X)$0$0$0
CHRIS HILL
DIRECTOR1.00Yes (X)$0$0$0
DORSEY HOPSON
DIRECTOR1.00Yes (X)$0$0$0
DAVID MONTAGUE
EXECUTIVE DIRECTOR40.00Yes (X)$109,479$0$15,627
FieldValueIRS element (for citing)
Total Reportable Comp From Org$109,479TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$15,627TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$1,031,926GovernmentGrantsAmt
All Other Contributions$3,115,136AllOtherContributionsAmt
Total Contributions$4,147,062TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
SHELBY COUNTY SCHOOLS611430$425,000$425,000
TUITION REPAYMENTS611430$77,870$77,870
UNION UNIVERSITY611430$75,000$75,000
OTHER611430$11,530$11,530
FieldValueIRS element (for citing)
Total Program Service Revenue$589,400TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,736,462TotalRevenueColumnAmt
Related Or Exempt Func Income$589,400RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$117,504TotalAmt
Program Services$117,504ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$114,000TotalAmt
Program Services$108,300ProgramServicesAmt
Management And General$3,420ManagementAndGeneralAmt
Fundraising$2,280FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,995,159TotalAmt
Program Services$1,605,570ProgramServicesAmt
Management And General$331,581ManagementAndGeneralAmt
Fundraising$58,008FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$51,793TotalAmt
Program Services$41,070ProgramServicesAmt
Management And General$8,914ManagementAndGeneralAmt
Fundraising$1,809FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$222,185TotalAmt
Program Services$180,478ProgramServicesAmt
Management And General$35,359ManagementAndGeneralAmt
Fundraising$6,348FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$150,191TotalAmt
Program Services$121,998ProgramServicesAmt
Management And General$23,901ManagementAndGeneralAmt
Fundraising$4,292FundraisingAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$821,028TotalAmt
Program Services$821,028ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$60,377TotalAmt
Management And General$60,377ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$581,771TotalAmt
Program Services$387,847ProgramServicesAmt
Management And General$193,924ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$3,005TotalAmt
Program Services$3,005ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$306,215TotalAmt
Program Services$204,143ProgramServicesAmt
Management And General$102,072ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
HOUSING$515,745$515,745
TRAINING$158,552$139,035$19,517
RESIDENT COMMUNITY/GIVE$75,205$75,205
MARKETING & COMMUNICATI$29,904$25,232$4,672

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$19,395TotalAmt
Program Services$19,395ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,222,029TotalAmt
Program Services$4,290,350ProgramServicesAmt
Management And General$854,270ManagementAndGeneralAmt
Fundraising$77,409FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$2,626,333BOYAmt
EOY$2,693,566EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$304,733BOYAmt
EOY$96,750EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$124,737BOYAmt
EOY$107,330EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$2,661,899LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,360,601LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$1,607,513BOYAmt
EOY$1,301,298EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$4,663,316BOYAmt
EOY$4,198,944EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$12,008BOYAmt
EOY$33,203EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$12,008BOYAmt
EOY$33,203EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$4,427,308BOYAmt
EOY$4,124,093EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$224,000BOYAmt
EOY$41,648EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,651,308BOYAmt
EOY$4,165,741EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,663,316BOYAmt
EOY$4,198,944EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$485,567ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$7,313,045CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4,306,864CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,591,698CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$6,008,485CurrentTaxYearMinus1YearAmt
Current Tax Year$4,147,062CurrentTaxYearAmt
Total$27,367,154TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$7,313,045CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4,306,864CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,591,698CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$6,008,485CurrentTaxYearMinus1YearAmt
Current Tax Year$4,147,062CurrentTaxYearAmt
Total$27,367,154TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$1,231,112SubstantialContributorsTotAmt
Public Support Total170$26,136,042PublicSupportTotal170Amt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$32,665CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$60,198CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$80,413CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$314,565CurrentTaxYearMinus1YearAmt
Current Tax Year$589,400CurrentTaxYearAmt
Total$1,077,241TotalAmt
FieldValueIRS element (for citing)
Total Support$28,444,395TotalSupportAmt
Public Support CY1700.91880PublicSupportCY170Pct
Public Support PY1700.97670PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,004,851OtherCostOrOtherBasisAmt
Depreciation$848,987DepreciationAmt
Book Value$1,155,864BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$657,048OtherCostOrOtherBasisAmt
Depreciation$511,614DepreciationAmt
Book Value$145,434BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$1,301,298TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$4,736,462TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$4,736,462RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$4,736,462TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$5,222,029TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$5,222,029ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$5,222,029TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT OF MEMPHIS TEACHER RESIDENCY, INC. TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MEMPHIS TEACHER RESIDENCY, INC. HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF MAY 31, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MEMPHIS TEACHER RESIDENCY, INC. BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2018.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)

Grant TypeGrantTypeTxtCash GrantCashGrantAmtValuation Method UsedValuationMethodUsedDesc
PROVISION FOR BOOKS$34,709N/A
PROVISION FOR TUITION$82,795N/A

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceFORM 990, SCHEDULE I, PART III, LINE 1FormAndLineReferenceDesc
ExplanationPARTICIPANTS INVOLVED IN THE ORGANIZATION'S PROGRAM ARE PROVIDED EDUCATIONAL EXPENSES IN THE FORM OF BOOKS AND TUITION WITH THE EXPECTATION OF THREE YEARS OF SERVICE IN THE MEMPHIS URBAN SCHOOLS UPON RECEIVING THEIR MASTERS DEGREE. SEE SCHEDULE O FOR ADDITIONAL EXPLANATION.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 2DAVID MONTAGUE, PRESIDENT AND EMPLOYEE, AND ROBERT MONTAGUE, TREASURER AND UNCOMPENSATED BOARD MEMBER, ARE BROTHERS.
FORM 990, PART VI, SECTION B, LINE 11BA COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT BEFORE THE RETURN WAS FILED WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12CANNUALLY THE ORGANIZATION REQUIRES THE OFFICERS AND DIRECTORS TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN AN ANNUAL CERTIFICATION.
FORM 990, PART VI, SECTION B, LINE 15THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE COMPENSATION OF MANAGEMENT, COMPARES TO OTHER SIMILAR NOT FOR PROFITS IN THE MEMPHIS AREA, CONSULTS WITH OTHER SIMILAR ORGANIZATIONS, AND SETS THE COMPENSATION COMMENSURATE WITH RESPONSIBILITIES.
FORM 990, PART VI, SECTION C, LINE 19MEMPHIS TEACHER RESIDENCY, INC. HAS ALL DOCUMENTS REQUIRED TO BE AVAILABLE FOR INSPECTION IN A SPECIFIC BINDER MARKED "OPEN FOR PUBLIC INSPECTION AND IS READILY AVAILABLE UPON REQUEST BY THE PUBLIC.
FORM 990, PART IX, LINE 11GSTIPENDS: PROGRAM SERVICE EXPENSES 774,245. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 774,245. CAMP STIPENDS: PROGRAM SERVICE EXPENSES 46,783. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 46,783.

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