READ FOUNDATION: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
READ FOUNDATION (EIN 94-3487601)
Tax period
2023-07-01 to 2024-06-30
Filed
2026-02-12
IRS object ID
202600439349302020
Schema version
2023v6.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2026-02-12T16:31:58-06:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN621657946PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ASCENT ACCOUNTING & ADVISORY PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1965 RIDGE LAKE BLVD SUITE 100AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38120ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN943487601EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1READ FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlREADBusinessNameControlTxt
Phone9013677814PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14450 S MENDENHALL RDAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38141ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSAMUEL BEYHANPersonNm
Person TitleEXECUTIVE DIRECTORPersonTitleTxt
Phone9013677814PhoneNum
Signature2026-02-11SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSTEPHANIE L LIVINGSTON CPAPreparerPersonNm
PTINP00235829PTIN
Phone9016857500PhoneNum
Preparation2026-02-11PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Amended ReturnYes (X)AmendedReturnInd

Doing Business As Name DoingBusinessAsName

FieldValueIRS element (for citing)
Business Name Line1MEMPHIS SCHOOL OF EXCELLENCEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Principal OfficerSAMUEL BEYHANPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line14450 S MENDENHALL RDAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38141ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$26,935,310GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.SEMEMPHIS.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2009FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionTO 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.ActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee249TotalEmployeeCnt
Total Volunteers150TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$4,855,819PYContributionsGrantsAmt
CY Contributions Grants$6,505,172CYContributionsGrantsAmt
PY Program Service Revenue$15,286,078PYProgramServiceRevenueAmt
CY Program Service Revenue$20,230,799CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$199,339CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$20,141,897PYTotalRevenueAmt
CY Total Revenue$26,935,310CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$11,986,993PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$13,797,255CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$7,497,684PYOtherExpensesAmt
CY Other Expenses$7,717,556CYOtherExpensesAmt
PY Total Expenses$19,484,677PYTotalExpensesAmt
CY Total Expenses$21,514,811CYTotalExpensesAmt
PY Revenues Less Expenses$657,220PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$5,420,499CYRevenuesLessExpensesAmt
Total Assets BOY$32,096,467TotalAssetsBOYAmt
Total Assets EOY$36,592,577TotalAssetsEOYAmt
Total Liabilities BOY$21,641,193TotalLiabilitiesBOYAmt
Total Liabilities EOY$20,716,804TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$10,455,274NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$15,875,773NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE 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.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$16,618,877ExpenseAmt
Revenue$20,230,799RevenueAmt
DescA PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.Desc
Total Program Service Expenses$16,618,877TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document30IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee249EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members6GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Own WebsiteYes (X)OwnWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9013677814PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14450 S MENDENHALL RDAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38141ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerIndHighest Compensated EmployeeHighestCompensatedEmployeeInd
DR CEM AKKUS
BOARD MEMBER2.00Yes (X)$0$0$0
DR DAVID C AKDEMIR
BOARD MEMBER2.00Yes (X)$0$0$0
DR RICHARD E POTTS
PRESIDENT2.00Yes (X)$0$0$0Yes (X)
VEDA V T CHERRY
VICE-PRESIDENT2.00Yes (X)$0$0$0Yes (X)
DR ISMAIL FIDAN
SECRETARY2.00Yes (X)$0$0$0Yes (X)
PATTY FARMER
TREASURER2.00Yes (X)$0$0$0Yes (X)
SAMUEL BEYHAN
EXEC DIRECTOR40.00$123,797$0$33,612Yes (X)
MUGIRE AYCI
ASST. EXEC DIRECTOR40.00$100,987$0$32,745Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$224,784TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$66,357TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$6,052,015GovernmentGrantsAmt
All Other Contributions$453,157AllOtherContributionsAmt
Total Contributions$6,505,172TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
PER PUPIL ALLOCATION REVENUE611600$19,786,147$19,786,147
INTERNAL SCHOOL FUNDS611600$444,652$444,652
FieldValueIRS element (for citing)
Total Program Service Revenue$20,230,799TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$199,339TotalRevenueColumnAmt
Exclusion$199,339ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$26,935,310TotalRevenueColumnAmt
Related Or Exempt Func Income$20,230,799RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$199,339ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$161,449TotalAmt
Program Services$137,079ProgramServicesAmt
Management And General$24,370ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$10,546,558TotalAmt
Program Services$8,954,592ProgramServicesAmt
Management And General$1,591,966ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$717,868TotalAmt
Program Services$609,508ProgramServicesAmt
Management And General$108,360ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$1,533,505TotalAmt
Program Services$1,302,028ProgramServicesAmt
Management And General$231,477ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$837,875TotalAmt
Program Services$711,401ProgramServicesAmt
Management And General$126,474ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$7,215TotalAmt
Program Services$7,215ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,862,126TotalAmt
Program Services$23,998ProgramServicesAmt
Management And General$1,838,128ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$2,127,899TotalAmt
Program Services$2,042,783ProgramServicesAmt
Management And General$85,116ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$653,345TotalAmt
Program Services$596,398ProgramServicesAmt
Management And General$56,947ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$693,863TotalAmt
Management And General$693,863ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,145,713TotalAmt
Program Services$1,109,349ProgramServicesAmt
Management And General$36,364ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
SUPPLIES$384,627$317,038$67,589
INTERNAL SCHOOL FUNDS$296,438$296,438
STAFF DEVELOPMENT$25,986$25,986

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$520,344TotalAmt
Program Services$511,050ProgramServicesAmt
Management And General$9,294ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$21,514,811TotalAmt
Program Services$16,618,877ProgramServicesAmt
Management And General$4,895,934ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$7,771,766BOYAmt
EOY$10,440,421EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,001,757BOYAmt
EOY$1,148,561EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$67,567BOYAmt
EOY$159,848EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$17,451,613LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$4,228,879LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$10,868,114BOYAmt
EOY$13,222,734EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$9,196,539BOYAmt
EOY$8,521,937EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$3,190,724BOYAmt
EOY$3,099,076EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$32,096,467BOYAmt
EOY$36,592,577EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$1,341,314BOYAmt
EOY$1,585,732EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$783,197BOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$9,988,040BOYAmt
EOY$9,799,745EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$9,528,642BOYAmt
EOY$9,331,327EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$21,641,193BOYAmt
EOY$20,716,804EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$8,744,698BOYAmt
EOY$14,096,296EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,710,576BOYAmt
EOY$1,779,477EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$10,455,274BOYAmt
EOY$15,875,773EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$32,096,467BOYAmt
EOY$36,592,577EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$5,420,499ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,544,600OtherCostOrOtherBasisAmt
Book Value$1,544,600BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$7,506,636OtherCostOrOtherBasisAmt
Depreciation$929,949DepreciationAmt
Book Value$6,576,687BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,628,793OtherCostOrOtherBasisAmt
Depreciation$2,347,697DepreciationAmt
Book Value$1,281,096BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,599,939OtherCostOrOtherBasisAmt
Depreciation$951,233DepreciationAmt
Book Value$648,706BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,171,645OtherCostOrOtherBasisAmt
Book Value$3,171,645BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$13,222,734TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
RESTRICTED CASH$534,630
DEFERRED OUTFLOWS$1,319,599
NET PENSION ASSET$1,244,847
FieldValueIRS element (for citing)
Total Book Value Other Assets$3,099,076TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
DEFERRED INFLOWS$338,829
LEASE LIABILITY$8,992,498
FieldValueIRS element (for citing)
Total Liability$9,331,327TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$26,935,310TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$26,935,310RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$26,935,310TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$21,514,811TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$21,514,811ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$21,514,811TotalExpensesPerForm990Amt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 4THE SCHOOL IS A PUBLIC CHARTER SCHOOL. SCHOLARSHIPS ARE NOT OFFERED.
SCHEDULE E, PART I, LINE 6THE SCHOOL RECEIVED FINANCIAL AID FROM THE FEDERAL GOVERNMENT AND THE STATE OF TENNESSEE THROUGH THE FOLLOWING AWARDS: TITLE 1, ESSER, SCS PER PUPIL ALLOCATIONS, AND CAPITAL OUTLAY.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE BOARD REVIEWS FORM 990 FOR APPROVAL BEFORE THE RETURN IS FILED.
FORM 990, PART VI, SECTION B, LINE 12CTHE 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 15THE PROCESS FOR DETERMINING THE COMPENSATION OF THE KEY EMPLOYEES IS DETERMINED BY USING SHELBY COUNTY SCHOOLS(SCS) PAY SCALE FOR ITS EMPLOYEES. EXECUTIVE DIRECTOR AND PRINCIPAL SALARIES ARE DETERMINED BASED ON SCS PAY SCALE.
FORM 990, PART VI, SECTION C, LINE 19THE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AS WELL AS UPON REQUEST.
FORM 990, PAGE 1, BOX BTHE 990 IS AMENDED TO REFLECT THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS FOLLOWING THE ISSUANCE OF ITS AUDIT REPORT DATED NOVEMBER 12, 2025. THE AMENDED RETURN UPDATES THE FOLLOWING ITEMS ON PART X: CASH (LN 1), PLEDGES AND GRANTS RECEIVABLE (LN 3), PREPAID EXPENSES (LN 9), LAND/BUILDINGS/EQUIPMENT (LN 10A, 10B, 10C), INTANGIBLE ASSETS (LN.14), OTHER ASSETS (LN. 15 AND SCH D PART IX), TOTAL ASSETS (LN 16) ACCOUNTS PAYABLE AN ACCRUED EXPENSES (LN. 17), SECURED MORTGAGES AND NOTES PAYABLE TO UNRELATED THIRD PARTIES (LN 23), OTHER LIABILITIES (LN 25 AND SCH D PART X), TOTAL LIABILITIES (LN 26), UNRESTRICTED NET ASSETS (LN. 27), RESTRICTED NET ASSETS (LN. 28), TOTAL NET ASSETS (LN. 32). THE AMENDED RETURN UPDATES THE FOLLOWING ITEMS ON PART VIII: REVENUE (LN 1), PROGRAM SERVICE REVENUE (LN 2), INVESTMENT INCOME (LN 3), AND MISCELLANEOUS INCOME (LN 11). THE FOLLOWING ITEMS WERE UPDATED WITH THE AMENDED RETURN ON PART IX: COMPENSATION OF OFFICERS (LN 5), OTHER SALARIES (LN 7), PENSION PLAN CONTRIBUTIONS (LN 8), OTHER EMPLOYEE BENEFITS (LN 9), PAYROLL TAXES (LN 10), ADVERTISING AND PROMOTION (LN 12), OFFICE EXPENSES (LN 13), OCCUPANCY (LN 16), TRAVEL (LN 17), INTEREST (LN 20), DEPRECIATION (LN 22), AND OTHER EXPENSES (LN 24).

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