2019-04-16T14:06:21-05:00 2018-07-31 560747981 DIXON HUGHES GOODMAN LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2017-08-01 620545618 MEMPHIS UNIVERSITY SCHOOL MEMP 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 RANKIN FOWLKES DIRECTOR OF BUSINESS OPERATIONS 9012601300 2019-03-25 1 AMY M DOOLIN P01297217 9017613000 2019-03-21 4.16.119.113 2019-03-25 14:05:16 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 24B6B5FD99F8E5425F63CC9FF33883586CC1C14C 2017 2019-02-21 02:37:17Z RANKIN FOWLKES 6191 PARK AVENUE MEMPHIS TN 38119 20531240 0 X WWW.MUSOWLS.ORG X 1955 TN COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS 25 25 151 100 0 0 3534998 3343899 13069301 13413661 2710195 1069197 61552 62661 19376046 17889418 2571250 2598345 0 0 9912909 10232772 0 0 965317 6623889 5882730 19108048 18713847 267998 -824429 64564838 65590308 16554559 16195973 48010279 49394335 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 11092031 13075220 EDUCATION GRADES 7-12 APPROXIMATELY 631 STUDENTS 2598345 2598345 FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 218 STUDENTS 13690376 1 1 0 0 0 0 0 0 0 1 1 0 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 80 0 1 151 1 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 P TROWBRIDGE GILLESPIE JR BOARD MEMBER 2.00 X 0 0 0 SUKI S CARSON BOARD MEMBER 2.00 X 0 0 0 SAMUEL N GRAHAM II CHAIRMAN 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 D STEPHEN MORROW TREASURER 2.00 X 0 0 0 JAMES F BURNETT SECRETARY 2.00 X 0 0 0 EDWARD J DOBBS BOARD MEMBER 2.00 X 0 0 0 GLENN A CROSBY II VICE-CHAIRMAN 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 ELLIS HAGUEWOOD HEAD-MASTER 40.00 X 187562 0 14932 RANKIN FOWLKES DIR.- BUS OPS 40.00 X 150164 0 13062 PETER D SANDERS HEAD-MASTER 40.00 X 162750 0 13692 WILLIAM RAY PRINCIPAL UPPER SCHOOL 40.00 X 113446 0 11226 BOBBY ALSTON DIRECTOR OF ATHLETICS 40.00 X 138533 0 12481 PERRY DEMENT DIR.- ADVANCEMENT 40.00 X 147728 0 12940 STANLEY SMYTHE PRINCIPAL LOWER SCHOOL 40.00 X 100522 0 10580 1000705 0 88913 7 0 1 0 CPN PO BOX 1748 CORDOVA TN 38088 HEATLH SERVICES 205323 CLARION SECURITY 5496 POPLAR AVE SUITE 32 MEMPHIS TN 38119 SECURITY 148987 LANDSCAPE WORKSHOP 550 MONTGOMERY HIGHWAY STE 200 VESTAVIA HILLS AL 35216 GROUNDS MAINTENANCE 145860 TENNESSEE BOOK COMPANY PO BOX 277351 ATLANTA GA 303847351 TEXTBOOKS 141450 4 3343899 199805 3343899 TUITION & FEES 611600 13012559 13012559 ATHLETICS/CAMPS 611710 185809 185809 AUXILLIARY/INSTRUCTION REVENUE 611600 179436 179436 CAFETERIA 611710 41397 41397 STUDENT ACTIVITIES REVENUE 611710 -5540 -5540 13413661 310848 310848 47659 0 47659 47659 47659 3082178 2323829 758349 758349 758349 327280 317993 9287 9287 VENDING MACHINE 900099 5715 5715 5715 17889418 13075220 0 1470299 2598345 2598345 524033 70411 453622 8263222 5676659 1920619 665944 839470 839470 606047 454535 151512 47265 47265 43983 43983 87956 87956 1320703 758037 263293 299373 588387 417529 170858 235414 235414 1591734 1591734 154283 115712 38571 INSTRUCTION & STUDENT A 1000243 932530 67713 AUXILLIARY EXPENSE 721926 721926 MISCELLANEOUS 78206 78206 BOND COSTS 12630 12630 18713847 13690376 4058154 965317 1206056 1294978 8896217 6825406 594272 912729 43291 162117 200747 335221 36497 37683 48996001 25839036 23938424 23156965 29605232 32573881 44102 291328 64564838 65590308 145751 252079 13974 24130 10485025 9887655 5909809 6032109 16554559 16195973 X 40662518 41009847 7347761 8384488 48010279 49394335 64564838 65590308 X -824429 1863492 344993 X 0 1 X 0 0 X 35629109 1636727 2836900 2652732 37450004 33539041 1763791 2875065 2546788 2000 35629109 34108388 1324859 514625 2408831 33539041 33155568 845509 2363591 2256280 34108388 29195565 962282 5003802 2006081 33155568 0.78000 0.22000 0 0 281637 281637 31244818 16465088 14779730 4179181 3323440 855741 13290365 6050508 7239857 23156965 ADVANCE COLLECTION 5922374 FUNDS HELD IN TRUST 80980 OTHER LIABILITIES 28755 6032109 X 17745977 1863495 317993 2181488 15564489 2324929 2324929 17889418 16706914 317993 317993 16388921 2324926 2324926 18713847 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, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 317,993. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,236,970. TRUST INVESTMENT EXPENSE 87,956. ROUNDING 3. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS 317,993. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS 2,236,970. TRUST INVESTMENT EXPENSE 87,956. 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 218 2598345 0 X X 1 1 X 0 0 0 0 0 0 0 0 0 ELLIS HAGUEWOOD HEAD-MASTER 187562 0 0 0 0 0 9378 0 5554 0 202494 0 0 0 RANKIN FOWLKES DIR.- BUS OPS 150164 0 0 0 0 0 7508 0 5554 0 163226 0 0 0 PETER D SANDERS HEAD-MASTER 162750 0 0 0 0 0 8138 0 5554 0 176442 0 0 0 BOBBY ALSTON DIRECTOR OF ATHLETICS 138533 0 0 0 0 0 6927 0 5554 0 151014 0 0 0 PERRY DEMENT DIR.- ADVANCEMENT 147728 0 0 0 0 0 7386 0 5554 0 160668 0 0 0 A THE HEALTH EDUCATIONAL AND HOUSING FACILTY BOARD OF SHELBY COUNTY TN 821697D97 2011-03-01 12255000 RETIRE OTHER BOND DEBT AND TO FINANCE CAPTIAL IMPROVEMENTS 0 0 0 B THE HEALTH EDUCATIONAL AND HOUSING FACILTY BOARD OF SHELBY COUNTY TN 912828F39 2017-06-30 9150000 RETIRE OTHER BOND DEBT 0 0 0 A 11230000 1025000 107470 750000 11257543 1 0 1 1 B 120000 9030000 179975 8970025 0 1 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 BRETT GRINDER MR. GRINDER IS ON THE BOARD OF TRUSTEES 120000 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 83000 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 X 23 199805 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: GAIN ON DERIVATIVE FINANCIAL INSTRUMENTS 344,993.