2016-05-16T14:51:42-05:00 2015-06-30 621657946 CANNON WRIGHT BLOUNT PLLC 756 RIDGE LAKE BLVD SUITE 100 MEMPHIS TN 381209420 990 2014-07-01 680502820 KIPP MEMPHIS KIPP 9014522682 2670 UNION AVENUE EXTENDED NO 1100 MEMPHIS TN 381124430 KELLY WRIGHT EXECUTIVE DIRECTOR 9014522682 2016-05-13 1 KATHY PENNELLA CPA P01278832 9016857500 2016-05-13 2014 2016-08-17 19:52:53Z KELLY WRIGHT 2670 UNION AVENUE EXTENDED NO 1100 MEMPHIS TN 381124430 21502609 0 X WWW.KIPPMEMPHIS.ORG X 2008 TN KIPP MEMPHIS IS THE OPERATING ENTITY OF KIPP COLLEGIATE MIDDLE SCHOOL, KIPP COLLEGIATE HIGH SCHOOL, KIPP COLLEGIATE ELEMENTARY SCHOOL, AND KIPP ACADEMY MIDDLE SCHOOL, KIPP ACADEMY ELEMENTARY SCHOOL, KIPP PREPARATORY MIDDLE SCHOOL, KIPP UNIVERSITY MIDDLE SCHOOL, KIPP PREPARATORY ELEMENTARY SCHOOL, AND PUBLIC CHARTER SCHOOLS. 9 9 302 24 0 0 9510464 7634211 10402886 13807542 0 0 101293 60856 20014643 21502609 0 0 0 0 10243955 12690381 0 0 0 6604559 9681674 16848514 22372055 3166129 -869446 7558707 10824159 1828565 7701112 5730142 3123047 X THE MISSION OF KIPP MEMPHIS COLLEGIATE SCHOOLS IS TO CREATE, MANAGE, AND SUPPORT HIGH-PERFORMING PUBLIC CHARTER SCHOOLS IN THE MEMPHIS COMMUNITY THAT WILL EQUIP ALL STUDENTS WITH THE NECESSARY ACADEMIC AND LIFE SKILLS NEEDED TO SUCCEED THROUGH COLLEGE AND THE COMPETITIVE WORLD BEYOND. THOSE SCHOOLS ARE KIPP MEMPHIS COLLEGIATE MIDDLE, KIPP MEMPHIS COLLEGIATE HIGH, KIPP MEMPHIS COLLEGIATE ELEMENTARY, KIPP MEMPHIS ACADEMY MIDDLE, KIPP MEMPHIS ACADEMY ELEMENTARY, AND KIPP MEMPHIS PREPARATORY MIDDLE, KIPP MEMPHIS UNIVERSITY MIDDLE, AND KIPP MEMPHIS PREPARATORY ELEMENTARY. 0 0 16770650 13868398 CHARTER SCHOOL OPERATION-TO PROVIDE INNER-CITY YOUTH COLLEGE-PREPARATORY PUBLIC EDUCATION WITH EMPHASIS ON STRONG ACADEMICS, CHARACTER DEVELOPMENT, AND SUPPORT WITH THE COLLEGE ADMISSIONS PROCESS. 16770650 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 71 0 1 302 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 TN X DAVID BARCZAK & LEE ANN KANALY 9014522682 2670 UNION AVENUE EXTENDED SUITE MEMPHIS TN 381124430 BARBARA HYDE MEMBER 2.00 X 0 0 0 CHARLES GERBER SECRETARY 2.00 X X 0 0 0 PETER FORMANEK TREASURER 2.00 X X 0 0 0 RHOMES AUR MEMBER 2.00 X 0 0 0 ELLIOT PERRY MEMBER 2.00 X 0 0 0 JIM BOYD MEMBER 2.00 X 0 0 0 APRIL JACKSON MEMBER 2.00 X 0 0 0 GREG THOMPSON MEMBER 2.00 X 0 0 0 TERENCE PATTERSON CHAIRMAN 2.00 X X 0 0 0 KELLY WRIGHT EXECUTIVE DIRECTOR 40.00 X 0 0 0 JAMAL MCCALL EXECUTIVE DIRECTOR 40.00 X 171211 0 27896 ANN FITE CHIEF FINANCIAL OFFICER 40.00 X 120703 0 23047 JENAI EMMEL CHIEF ACADEMIC OFFICER 40.00 X 51923 0 4694 TERENCE JOHNSON CHIEF OF SCHOOLS 40.00 X 0 0 0 CHRIS WERNER CHIEF OPERATING OFFICER 40.00 X 62491 0 6204 ANDREW BOBOWSKI SCHOOL PRINCIPAL 40.00 X 100371 0 13933 GRACE WILLIAMS SCHOOL PRINCIPAL 40.00 X 106590 0 14957 613289 0 90731 4 0 1 0 0 5242519 2391692 7634211 STUDENT RELATED REVENUE 611600 13807542 13807542 13807542 OTHER LOCAL REVENUE 611600 60856 60856 60856 21502609 13868398 0 0 509279 335316 173963 9535538 6139297 3396241 966134 636117 330017 824075 542584 281491 855355 563179 292176 47412 47412 58449 58449 1474119 1074972 399147 44515 44515 781279 698978 82301 1383101 1369127 13974 115573 64097 51476 18058 18058 635513 592703 42810 31444 31444 FOOD SERVICES 1822311 1822311 STUDENT SERVICES 1405066 1290808 114258 OPERATING LEASE PAYMENT 926035 836488 89547 STAFF DEVELOPMENT 514468 462153 52315 424331 324462 99869 22372055 16770650 5601405 0 3354010 3874069 1045976 1315547 161760 1306101 1613401 3440434 1515094 1690860 1925340 0 2095802 7558707 10824159 1062807 1332259 765758 6368853 1828565 7701112 X 5730142 3123047 5730142 3123047 7558707 10824159 X -869446 -1737649 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2912894 1295719 1617175 527540 219375 308165 1925340 DEFERRED OUTFLOWS OF RESOURCES - PENSIONS 1467155 NET PENSION ASSET 628647 2095802 GRANT ADVANCES 500000 DEFERRED INFLOWS OF RESOURCES - CONTRIBUTIONS FOR FUTURE PERIODS 2702632 DEFERRED INFLOWS OF RESOURCES - PENSIONS 3166221 6368853 X 21502609 0 21502609 0 21502609 22372055 0 22372055 0 22372055 PART X, LINE 2: THE ACADEMY 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 ACADEMY 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 ACADEMY HAS DETERMINED THAT THE APPLICATION OF THE INCOME TAXES STANDARD DOES NOT IMPACT THE OPERATIONS OF THE ACADEMY AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE ACADEMY'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. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 4 SCHOLARSHIPS AND FINANCIAL ASSISTANCE AWARDS INFORMATION IS NOT APPLICABLE BECAUSE THERE IS NO COST TO STUDENTS. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES GRANTS FROM THE US DEPARTMENT OF EDUCATION, TENNESSEE DEPARTMENT OF EDUCATION, AND MEMPHIS CITY SCHOOLS. X X X 0 0 0 0 0 0 0 0 0 JAMAL MCCALL EXECUTIVE DIRECTOR 166211 0 5000 0 0 0 0 0 27896 0 199107 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER FOR ACCURACY BEFORE IT IS FILED. FINANCIAL STATEMENTS ARE REVIEWED WITH THE BOARD QUARTERLY AND IN A FINER LEVEL OF DETAIL WITH THE FINANCE COMMITTEE OF THE BOARD QUARTERLY. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY PERIODICALLY HAVING EMPLOYEES UPDATE CONFLICT OF INTEREST FORMS. FORM 990, PART VI, SECTION B, LINE 15 KEY EMPLOYEES COMPENSATION IS DETERMINED BY TWICE-YEARLY PERFORMANNCE REVIEWS AS WELL AS BY COMPARISON AGAINST KIPP FOUNDATION'S NATIONAL COMPENSATION SURVERY, WHICH IS COMPLETED ANNUALLY. COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE BOARD OF DIRECTORS, AN ANNUAL PERFORMANCE REVIEW, AND BY COMPARISON AGAINST KIPP FOUNDATION'S NATIONAL COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GASB 68 ADJUSTMENTS - PENSION -1,744,654. PRIOR PERIOD ADJUSTMENT 7,005. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.