2016-02-03T10:14:02-06:00 2015-06-30 621657946 CANNON WRIGHT BLOUNT PLLC 756 RIDGE LAKE BLVD SUITE 100 MEMPHIS TN 381209420 990 2014-07-01 943487601 READ FOUNDATION READ 9013677814 4450 S MENDENHALL RD MEMPHIS TN 38141 MUHAMMET TURKAY EXECUTIVE DIRECTOR 9013677814 2016-02-01 1 KATHY PENNELLA CPA P01278832 9016857500 2014 2016-04-25 22:37:26Z MEMPHIS SCHOOL OF EXCELLENCE MUHAMMET TURKAY 4450 S MENDENHALL RD MEMPHIS TN 38141 3877941 0 X WWW.SEMEMPHIS.ORG X 2009 TN TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS. 4 4 48 150 0 0 0 393732 3025808 3413597 0 67960 0 2652 3025808 3877941 0 0 0 0 1871307 1763786 0 0 0 1373680 1282751 3244987 3046537 -219179 831404 2186552 2782062 877593 1007934 1308959 1774128 X THE MISSION OF MEMPHIS SCHOOL OF EXCELLENCE IS TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS. 0 0 2693937 3484209 A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY. 2693937 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13 0 1 48 1 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 X X WHITEHORN TANKERSLEY & DAVIS PLLC 9017675080 670 OAKLEAF OFFICE LN MEMPHIS TN 38117 CEM AKKUS PRESIDENT 2.00 X X 0 0 0 EMIN KUSCU SECRETARY 2.00 X X 0 0 0 PATTY FARMER TREASURER 2.00 X X 0 0 0 FATIH SEN BOARD MEMBER 2.00 X 0 0 0 MUHAMMET TURKAY EXECUTIVE DIRECTOR 40.00 X 77050 0 6780 77050 0 6780 0 0 0 0 0 393132 600 393732 PER PUPIL ALLOCATION R 611600 3412449 3412449 LOCAL REVENUE 611600 1148 1148 3413597 67960 0 67960 67960 67960 PENSION INCOME 611110 2652 2652 2652 3877941 3484209 0 0 84000 75600 8400 1407728 1265378 142350 9021 9021 153135 121509 31626 109902 98487 11415 15155 15155 164340 63711 100629 771322 740469 30853 10166 9754 412 28132 28132 232612 223308 9304 CONTRACTS 42069 42069 STUDENT SUPPORT 12622 12622 STAFF DEVELOPMENT 5729 3394 2335 STUDENT SERVICES 483 483 121 121 3046537 2693937 352600 0 375983 899001 23790 18167 50000 96947 2487081 982914 1736779 1504167 0 263780 2186552 2782062 83782 51919 793811 451353 0 504662 877593 1007934 X 1308959 1774128 1308959 1774128 2186552 2782062 X 831404 -366235 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2231697 822868 1408829 255384 160046 95338 1504167 DEFERRED OUTFLOWS RELATED TO PENSION 228620 NET PENSION ASSET 35160 263780 DEFERRED INFLOWS RELATED TO PENSION 504662 504662 X 3877941 0 3877941 0 3877941 3046537 0 3046537 0 3046537 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 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. 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 THE SCHOOL IS A PUBLIC CHARTER SCHOOL. SCHOLARSHIPS ARE NOT OFFERED. 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 1, SCS PER PUPIL ALLOCATIONS, AND CAPITAL OUTLAY. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD REVIEWS FORM 990 FOR APPROVAL BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY BOARD MEMBERS, KEY EMPLOYEES AND STAFF ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION OF THE KEY EMPLOYEES IS DETERMINED BY THE BOARD OF THE READ FOUNDATION DBA MEMPHIS SCHOOL OF EXCELLENCE. COMPENSATION AMOUNTS ARE CALCULATED AND APPROVED BASED ON PAY SCALE OF SHELBY COUNTY SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AS WELL AS UPON REQUEST. FORM 990, PART XI, LINE 9: GASB 68 PENSION ADJUSTMENTS -366,235. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.