2026-02-12T16:31:58-06:00 2024-06-30 621657946 ASCENT ACCOUNTING & ADVISORY PLLC 965 RIDGE LAKE BLVD SUITE 100 MEMPHIS TN 38120 990 2023-07-01 943487601 READ FOUNDATION READ 9013677814 4450 S MENDENHALL RD MEMPHIS TN 38141 SAMUEL BEYHAN EXECUTIVE DIRECTOR 9013677814 2026-02-11 1 1 STEPHANIE L LIVINGSTON CPA P00235829 9016857500 2026-02-11 2023 2025-03-06 01:10:19Z X MEMPHIS SCHOOL OF EXCELLENCE SAMUEL BEYHAN 4450 S MENDENHALL RD MEMPHIS TN 38141 26935310 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. 6 6 249 150 0 0 4855819 6505172 15286078 20230799 0 199339 0 0 20141897 26935310 0 0 0 0 11986993 13797255 0 0 0 7497684 7717556 19484677 21514811 657220 5420499 32096467 36592577 21641193 20716804 10455274 15875773 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 16618877 20230799 A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY. 16618877 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 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 30 0 249 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THE ORGANIZATION 9013677814 4450 S MENDENHALL RD MEMPHIS TN 38141 DR CEM AKKUS BOARD MEMBER 2.00 X 0 0 0 DR DAVID C AKDEMIR BOARD MEMBER 2.00 X 0 0 0 DR RICHARD E POTTS PRESIDENT 2.00 X X 0 0 0 VEDA V T CHERRY VICE-PRESIDENT 2.00 X X 0 0 0 DR ISMAIL FIDAN SECRETARY 2.00 X X 0 0 0 PATTY FARMER TREASURER 2.00 X X 0 0 0 SAMUEL BEYHAN EXEC DIRECTOR 40.00 X 123797 0 33612 MUGIRE AYCI ASST. EXEC DIRECTOR 40.00 X 100987 0 32745 224784 0 66357 2 0 0 0 0 6052015 453157 6505172 PER PUPIL ALLOCATION REVENUE 611600 19786147 19786147 INTERNAL SCHOOL FUNDS 611600 444652 444652 20230799 199339 199339 26935310 20230799 0 199339 161449 137079 24370 10546558 8954592 1591966 717868 609508 108360 1533505 1302028 231477 837875 711401 126474 7215 7215 1862126 23998 1838128 2127899 2042783 85116 653345 596398 56947 693863 693863 1145713 1109349 36364 SUPPLIES 384627 317038 67589 INTERNAL SCHOOL FUNDS 296438 296438 STAFF DEVELOPMENT 25986 25986 520344 511050 9294 21514811 16618877 4895934 0 7771766 10440421 1001757 1148561 67567 159848 17451613 4228879 10868114 13222734 9196539 8521937 3190724 3099076 32096467 36592577 1341314 1585732 783197 9988040 9799745 9528642 9331327 21641193 20716804 X 8744698 14096296 1710576 1779477 10455274 15875773 32096467 36592577 5420499 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1544600 1544600 7506636 929949 6576687 3628793 2347697 1281096 1599939 951233 648706 3171645 3171645 13222734 RESTRICTED CASH 534630 DEFERRED OUTFLOWS 1319599 NET PENSION ASSET 1244847 3099076 DEFERRED INFLOWS 338829 LEASE LIABILITY 8992498 9331327 26935310 0 26935310 0 26935310 21514811 0 21514811 0 21514811 1 1 1 1 1 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, ESSER, SCS PER PUPIL ALLOCATIONS, AND CAPITAL OUTLAY. FORM 990, PART VI, SECTION B, LINE 11B 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 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 19 THE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AS WELL AS UPON REQUEST. FORM 990, PAGE 1, BOX B THE 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).