2016-02-15T00:00:00-06:00 2015-06-30 621657946 CANNON WRIGHT BLOUNT PLLC 756 RIDGE LAKE BLVD SUITE 100 MEMPHIS TN 381209420 990 2014-07-01 264251279 MEMPHIS COLLEGE PREPARATORY SCHOOL MEMP 9012180088 278 GREENLAW AVENUE MEMPHIS TN 38105 MICHAEL WHALEY EXECUTIVE DIRECTOR 9012180088 2016-02-11 1 KATHY PENNELLA CPA P01278832 9016857500 2016-02-11 2014 2016-08-17 19:52:53Z MICHAEL WHALEY 278 GREENLAW AVENUE MEMPHIS TN 38105 2841896 0 X WWW.MEMPHISCOLLEGEPREP.ORG X 2009 TN TO PROVIDE K-5TH GRADE STUDENTS WITH THE ACADEMIC & ETHICAL FOUNDATION TO EXCEL IN SCHOOL AND LIFE. 8 8 37 35 0 0 651345 629904 1545148 2144132 380 896 34548 60344 2231421 2835276 0 0 0 0 1543961 1803211 0 0 0 571365 722228 2115326 2525439 116095 309837 1263144 1388009 776510 889342 486634 498667 TO PROVIDE KINDERGARTEN THROUGH FIFTH GRADE STUDENTS WITH THE ACADEMIC AND ETHICAL FOUNDATION TO EXCEL IN SCHOOL AND IN LIFE. 0 0 1321432 2192724 PROVIDING KINDERGARTEN THROUGH 5TH GRADE STUDENTS WITH THE ACADEMIC AND ETHICAL FOUNDATION TO EXCEL IN SCHOOL AND IN LIFE. 1321432 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 37 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CHASISTY DOLLEY-JONES 9016206475 278 GREENLAW AVENUE MEMPHIS TN 38105 TYREE DANIELS CHAIRMAN 1.00 X X 0 0 0 MAGGIE COOPER VICE CHAIR 1.00 X X 0 0 0 SEAN MONTESI TREASURER 1.00 X X 0 0 0 TODD SHAPIRO SECRETARY 1.00 X X 0 0 0 MITTY WILLIAMS PARENT REPRESENTATIVE 1.00 X 0 0 0 SEAN HENNEBERGER BOARD MEMBER 1.00 X 0 0 0 ANDREW HOLMES BOARD MEMBER 1.00 X 0 0 0 AARON MUNN BOARD MEMBER 1.00 X 0 0 0 MICHAEL WHALEY EXECUTIVE DIRECTOR 40.00 X 92233 0 12699 92233 0 12699 0 0 0 0 0 308498 321406 629904 SCS PER PUPIL ALLOCATI 611710 2119225 2119225 CHARGES FOR STUDENT SE 611710 24907 24907 2144132 896 896 18372 6620 11752 11752 OTHER INCOME 611710 43288 43288 PENSION INCOME 611710 5304 5304 48592 2835276 2192724 0 12648 94042 54312 39730 1410326 814512 595814 76875 6958 69917 112271 63186 49085 109697 61737 47960 45 45 46000 46000 111621 111621 42275 42275 9078 990 8088 182801 137101 45700 11166 11166 20333 20333 69053 51790 17263 4232 4232 INSTRUCTIONAL EXPENSES 69376 69376 BAD DEBT EXPENSE 53104 53104 STAFF DEVELOPMENT 53098 48081 5017 OTHER EXPENSE 39526 2223 37303 10520 10520 2525439 1321432 1204007 0 389787 486964 143938 69086 5900 6249 912274 287313 723519 624961 0 200749 1263144 1388009 145504 41901 431006 409867 200000 437574 776510 889342 X 486634 498667 486634 498667 1263144 1388009 X 309837 -297804 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46000 46000 741318 182110 559208 124956 105203 19753 624961 DEFERRED OUTFLOWS RELATED TO PENSIONS 137369 NET PENSION ASSET 63380 200749 DEFERRED INFLOWS RELATED TO PENSIONS 437574 437574 X 2841896 6620 6620 2835276 0 2835276 2532059 6620 6620 2525439 0 2525439 PART X, LINE 2: THE SCHOOL ADOPTED THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO EVALUATE 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 TAXES STANDARD DOES NOT IMPACT THE OPERATIONS OF THE SCHOOL AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE SCHOOL'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2015, THE FOLLOWING TAX YEARS REMAIN OPEN DUE TO THE APPLICABLE TAX AUTHORITY'S ABILITY TO REVIEW AND ASSESS PREVIOUSLY ISSUED RETURNS; FEDERAL - JUNE 30, 2012, 2013, 2014 AND 2015. THERE HAVE BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION OR STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,620. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,620. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 4 NO SCHOLARSHIPS OR OTHER FINANCIAL AID WAS AWARDED. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED FINANCIAL AID FROM THE FEDERAL GOVERNMENT AND THE STATE OF TENNESSEE THROUGH THE FOLLOWING AWARDS: TITLE I, ADA PER PUPIL FUNDING, AND CAPITAL OUTLAY. 5K IN A DAY 8107 8107 0 CLAY;S CLOTHES CLOSET 6635 6635 0 1 3629 3629 6620 18371 18371 6620 6620 11751 FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED DURING THE REGULAR MONTHLY BOARD MEETING THE MONTH PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL WILL REVIEW THE POLICY ANNUALLY AND ENSURE ALL NEW HIRES AND BOARD MEMBERS REVIEW THE POLICY AND SIGN A DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE DIRECTOR AND OTHER SALARY AMOUNTS ARE ROOTED IN COMPARISONS TO SIMILAR POISITIONS ACROSS THE CITY AND COUNTY, AND ARE ADJUSTED BY A COST OF LIVING AMOUNT EACH YEAR. THESE AMOUNTS ARE INCLUDED IN THE ANNUAL BUDGET, REVIEWED BY THE BOARD FINANCE COMMITTEE, AND ADOPTED BY THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GASB 68 PENSION ADJUSTMENTS -297,804. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.