2012-12-12T14:51:19-06:00 2012-05-31 621174696 BRUNDIGE PAYNE AND COMPANY PC 700 COLONIAL ROAD SUITE 220 MEMPHIS TN 381175156 990 2011-06-01 264440905 MEMPHIS TEACHER RESIDENCY INC MEMP 9019374687 PO BOX 241639 MEMPHIS TN 382411639 DAVID MONTAGUE 9019374687 2012-11-21 1 RICHARD L WEBB CPA P00362093 9016834234 2011 2016-02-24 21:20:13Z DAVID MONTAGUE 2181 UNION AVENUE MEMPHIS TN 38104 2089375 0 X WWW.MEMPHISTR.ORG X 2009 TN THE ORGANIZATION'S MISSION IS TO POSITIVELY IMPACT STUDENT ACHIEVEMENT IN MEMPHIS' URBAN SCHOOLS BY RECRUITING, TRAINING, AND SUPPORTING OUTSTANDING TEACHERS. 5 5 70 5 0 0 1138500 2089375 0 0 0 0 0 0 1138500 2089375 134425 304125 0 0 813533 1237356 0 0 0 219568 265265 1167526 1806746 -29026 282629 527440 474803 13450 41672 513990 433131 X THE MISSION OF THE MEMPHIS TEACHER RESIDENCY, INC. IS TO POSITIVELY IMPACT STUDENT ACHIEVEMENT IN MEMPHIS' URBAN SCHOOLS BY RECRUITING, TRAINING, AND SUPPORTING OUTSTANDING TEACHERS. 0 0 1600839 304125 RECRUIT, EQUIPS, AND RETAINS EDUCATORS AND TEACHERS TO WORK WITHIN MEMPHIS, TENNESSEE URBAN SCHOOLS AND PROVIDE THE OPPORTUNITY TO RECEIVE CLASSROOM LEARNING ALONG WITH PRACTICAL EXPERIENCE SINCE THE PROGRAM PARTICIPANTS ARE PAIRED WITH AN EXPERIENCED MENTOR-TEACHER IN THEIR CONTENT AREA FOR FOUR DAYS PER WEEK FOR AN ENTIRE SCHOOL YEAR. EACH PARTICIPANT WILL RECEIVE ENDORSEMENTS FOR ELEMENTARY EDUCATION OR SECONDARY EDUCATION IN MATH, BIOLOGY, PHYSICS, CHEMISTRY, SPANISH, HISTORY OR ENGLISH. EACH PARTICIPANT WILL RECEIVE THE FOLLOWING: : MASTERS OF ARTS IN URBAN EDUCATION THROUGH UNION UNIVERSITY : INTENSIVE CLASSROOM EXPERIENCE WITHIN MEMPHIS URBAN SCHOOLS : STATE OF TENNESSEE EDUCATOR LICENSE : LIVING AND HOUSING STIPEND FOR THE 12 MONTH TRAINING PERIOD : ON-GOING EVALUATION AND MENTORING : LEADERSHIP OPPORTUNITIESTHE ESTIMATED COST FOR EACH PARTICIPANT IN THE 12 MONTH TRAINING PROGRAM IS $30,000. THE NUMBER OF PROGRAM PARTICIPANTS FOR THE YEAR ENDED MAY 31, 2012, IS 32. 1600839 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 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 0 0 1 85 0 1 70 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X DAVID MONTAGUE 9019374687 2181 UNION AVENUE MEMPHIS TN 38104 TOM MARINO 3.00 X X 0 0 0 DR MAXIE DUNNAM 1.00 X 0 0 0 ROBERT MONTAGUE 3.00 X X 0 0 0 ALFRED HALL 1.00 X 0 0 0 DAVID HARRIS 1.00 X X 0 0 0 DAVID MONTAGUE 40.00 X 113300 0 7524 113300 0 7524 1 0 0 0 0 695855 1393520 2089375 2089375 0 0 0 304125 304125 120000 30000 90000 955049 900833 54216 11057 8377 2680 45045 34598 10447 106205 95363 10842 21132 11275 9857 14347 9565 4782 26339 18339 8000 9269 9269 5814 5814 RECRUITMENT 51553 51553 TRAINING 49124 49124 RESIDENT COMMUNITY 34251 34251 GRADUATES 26156 26156 27280 27280 1806746 1600839 205907 0 144808 256445 170323 363938 7251 15070 40632 14918 18694 25714 527440 474803 13450 41672 13450 41672 X 513990 433131 513990 433131 527440 474803 X 282629 -363488 X X 0 1 1 X 1 1 X 120000 1245975 1138500 2089375 4593850 120000 1245975 1138500 2089375 4593850 2812123 1781727 4593850 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: THE 2008 TAX YEAR WAS A SHORT PERIOD RETURN BECAUSE IT WAS THE ORGANIZATION'S INITIAL TAX YEAR AND A FISCAL YEAR ENDING DATE WAS CHOSEN. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40632 14918 25714 25714 2089375 1806746 282629 -363488 -363488 -80859 2089375 0 2089375 0 2089375 1806746 0 1806746 0 1806746 1 PROVISION FOR BOOKS AND TUITION 32 216275 STIPEND PROVIDED TO MENTORS 40 87850 PART III; LINE 1 PARTICIPANTS INVOLVED IN THE ORGANIZATION'S PROGRAM ARE PROVIDED EDUCATIONAL EXPENSES IN THE FORM OF BOOKS AND TUITION WITH THE EXPECTATION OF THREE YEARS OF SERVICE IN THE MEMPHIS URBAN SCHOOLS UPON RECEIVING THEIR MASTERS DEGREE. SEE SCHEDULE O FOR ADDITIONAL EXPLANATION. PART III; LINE 2 TEACHERS WHO COMMIT TO MENTORING A PARTICIPANT IN THE PROGRAM FOR THE ENTIRE SCHOOL YEAR ARE PROVIDED WITH A STIPEND. FORM 990, PART VI, SECTION A, LINE 2 DAVID MONTAGUE, EXECUTIVE DIRECTOR AND EMPLOYEE, AND ROBERT MONTAGUE, TREASURER AND UNCOMPENSATED BOARD MEMBER, ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT BEFORE THE RETURN WAS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE ORGANIZATION REQUIRES THE OFFICERS AND DIRECTORS TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN AN ANNUAL CERTIFICATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE COMPENSATION OF MANAGEMENT, COMPARES TO OTHER SIMILAR NOT FOR PROFITS IN THE MEMPHIS AREA, CONSULTS WITH OTHER SIMILAR ORGANIZATIONS, AND SETS THE COMPENSATION COMMENSURATE WITH RESPONSIBILITIES. FORM 990, PART VI, SECTION C, LINE 19 MEMPHIS TEACHER RESIDENCY, INC. HAS ALL DOCUMENTS REQUIRED TO BE AVAILABLE FOR INSPECTION IN A SPECIFIC BINDER MARKED "OPEN FOR PUBLIC INSPECTION" AND IS READILY AVAILABLE UPON REQUEST BY THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: PRIOR PERIOD ADJUSTMENTS: -363,488. AUDITOR SELECTION FORM 990, PART XII, LINE 2C THE AUDITORS FOR THE INITIAL AUDIT WERE SELECTED BY A BOARD MEMBER AND AN INDPENDENT CONSULTANT WITH NO CHANGE IN THE PROCESS EXPECTED. PRIOR PERIOD ADJUSTMENT 990 PART XI, LINE 5 THE PRIOR PERIOD ADJUSTMENT IS A CORRECTION OF AN ERROR TO REFLECT A REDUCTION IN CERTAIN PREPAID EXPENSES TO PRESENT THE BEGINNING NET ASSETS UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.