2021-03-08T08:19:16-06:00 2020-07-31 560747981 DIXON HUGHES GOODMAN LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2019-08-01 620545618 MEMPHIS UNIVERSITY SCHOOL MEMP 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 RANKIN FOWLKES DIRECTOR OF BUSINESS OPERATIONS 9012601300 2021-03-01 1 LAKRISHA J WATSON P01677333 9017613000 2021-03-01 2019 2022-09-23 18:48:47Z RANKIN FOWLKES 6191 PARK AVENUE MEMPHIS TN 38119 23835640 0 X WWW.MUSOWLS.ORG X 1955 TN COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS 25 25 135 100 0 0 2438327 2425287 13710976 14378042 2613017 2708333 45390 62450 18807710 19574112 2712582 2806272 0 0 10465868 10946019 0 0 941984 5632178 5414235 18810628 19166526 -2918 407586 64880643 64709830 15967320 17456390 48913323 47253440 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 10859165 14120946 EDUCATION GRADES 7-12 APPROXIMATELY 648 STUDENTS 2806272 2806272 FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 222 STUDENTS 13665437 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 79 0 1 135 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 SAMUEL N GRAHAM II 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 JAMES F BURNETT 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 CHRIS R SANDERS 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 HUSSEY 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 MCLEAN BOARD MEMBER 2.00 X 0 0 0 PETER D SANDERS HEAD-MASTER 40.00 X 334885 0 22968 RANKIN FOWLKES DIR.- BUS OPS 40.00 X 157992 0 14124 PERRY DEMENT DIR.- ADVANCEMENT 40.00 X 154403 0 13944 BOBBY ALSTON DIRECTOR OF ATHLETICS 40.00 X 145227 0 13485 WILLIAM RAY PRINCIPAL UPPER SCHOOL 40.00 X 119550 0 12202 PHILLIP EIKNER ACADEMIC DEAN 40.00 X 106200 0 11534 ZACHARY HANSEN DIRECTOR OF COLLEGE COUNSELING 40.00 X 113930 0 11921 1132187 0 100178 7 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 CPN PO BOX 1748 CORDOVA TN 38088 HEATLH SERVICES 210617 GRINDER TABER AND GRINDER 1919 LYNNFIELD ROAD MEMPHIS TN 38119 CONSTRUCTION 119186 7 2425287 68768 2425287 TUITION & FEES 611600 14058496 14058496 AUXILLIARY/INSTRUCTIONS REVENUE 611600 152783 152783 ATHLETICS/CAMPS 611710 131606 131606 CAFETERIA 611710 35157 35157 14378042 455557 455557 45329 0 45329 45329 45329 6194847 3942071 2252776 2252776 2252776 332900 319457 13443 13443 VENDING MACHINE 900099 3678 3678 3678 19574112 14120946 0 3027879 2806272 2806272 713696 73695 537756 102245 8717590 5920263 2226279 571048 874542 874542 640191 480143 160048 141691 141691 48715 48715 84693 84693 1158281 607830 281760 268691 550432 415191 135241 186409 186409 1669915 1669915 148073 111055 37018 AUXILLIARY EXPENSE 730703 730703 INSTRUCTION & STUDENT A 601264 520122 81142 MISCELLANEOUS 81429 81429 BOND COSTS 12630 12630 19166526 13665437 4559105 941984 1035876 2233116 4970667 3337642 628294 415737 183113 206884 175114 160666 33080 18977 51176935 29133476 22701229 22043459 28347653 28884420 6757947 7338727 47670 70202 64880643 64709830 263262 124996 6157424 6295305 9285285 8667914 1416100 261349 952075 15967320 17456390 X 40241028 38486162 8672295 8767278 48913323 47253440 64880643 64709830 X 407586 -1519185 -548284 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37764075 844983 1091166 2716403 36983821 37450004 887807 2436758 3010494 37764075 35629109 1636727 2836900 2652732 37450004 33539041 1763791 2875065 2546788 2000 35629109 34108388 1324859 514625 2408831 33539041 0.76000 0.24000 0 0 281637 281637 31244818 17812525 13432293 5060600 3907244 1153356 14589880 7413707 7176173 22043459 GT OFFSHORE FUND 7338727 C 7338727 FUNDS HELD IN TRUST 49763 OTHER LIABILITIES 36117 FAIR VALUE OF DERIVATIVE FINANCIAL 713938 CAPITAL LEASES PAYABLE 152257 952075 X 15818063 -1519185 319457 -1199728 17017791 2556321 2556321 19574112 16929663 319457 319457 16610206 2556320 2556320 19166526 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, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 319,457. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,471,627. TRUST INVESTMENT EXPENSE 84,693. ROUNDING 1. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 319,457. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,471,627. TRUST INVESTMENT EXPENSE 84,693. 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 222 2806272 X X 1 1 X 0 0 0 0 0 0 0 0 0 PETER D SANDERS HEAD-MASTER 334885 0 0 0 0 0 16744 0 6224 0 357853 0 0 0 RANKIN FOWLKES DIR.- BUS OPS 157992 0 0 0 0 0 7900 0 6224 0 172116 0 0 0 PERRY DEMENT DIR.- ADVANCEMENT 154403 0 0 0 0 0 7720 0 6224 0 168347 0 0 0 BOBBY ALSTON DIRECTOR OF ATHLETICS 145227 0 0 0 0 0 7261 0 6224 0 158712 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 340000 9150000 179975 8970025 0 1 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 BRETT GRINDER MR. GRINDER IS ON THE BOARD OF TRUSTEES 199000 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 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 12 68768 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 -548,283. ROUNDING -1.