2011-01-11T13:39:44-06:00 2010-05-31 Brundige Payne and Company PC 700 Colonial Road Suite 220 Memphis TN 381175156 990 2009-06-01 264440905 Memphis Teacher Residency Inc MEMP 9019374687 PO Box 241639 Memphis TN 382411639 David Montague 9019374687 2011-01-11 1 RICHARD L WEBB CPA 9016834234 2009 2016-02-24 21:20:13Z David Montague 2181 Union Avenue Memphis TN 38104 1245975 0 X www.memphistr.org X 2009 TN THE mISSION OF THE ORGANIZATION IS TO POSITIVELY IMPACT STUDENT ACHIEVEMENT IN MEMPHIS' URBAN SCHOOLS BY RECRUITING, TRAINING, AND SUPPORTING OUTSTANDING TEACHERS, ALL WITHIN THE CHRISTIAN CONTEXT. 7 7 5 0 0 0 120000 1245975 0 0 0 120000 1245975 252139 0 22151 248468 0 5441 52690 247511 74841 748118 45159 497857 46136 543556 977 540 45159 543016 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, all within the Christian context. 0 0 698282 Recruit, equips, and retains educators and teachers to work within Memphis, Tennessee urban schools and provide the opportunity to recevie 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 recieve endorsements for 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 : Housing/Stipend : $12,000 stipend for the 12 month training period : On-going evaluation and mentoring : Leadership OpportunitiesThe estimated cost to each participant for the 12 month training program represents $30,000 in education and living costs. This amount is awarded to each participant in the form of a loan. The loan may be repaid through 3 years of service in a Memphis urban school. For every one year of service, 1/3 of the loan is forgiven. After three years of service, the entire balance will be forgiven. Although the loan is forgiven, the participant will recieve income to the the extent of the loan forgiveness as earned.The number of program participants for the year ended May 31, 2010, is 23. 698282 1 1 0 0 0 0 0 0 0 1 0 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 1 27 0 5 1 0 0 0 0 0 0 0 0 0 0 0 7 7 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 TN X David Montague 9019374687 2181 Union Avenue Memphis TN 38104 X David Montague 40.00 X X 0 0 0 J Martin Regan Jr 1.00 X X 0 0 0 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 Bill Milliken 1.00 X 0 0 0 0 0 0 0 0 0 0 0 1245975 1375 1245975 1245975 0 0 0 252139 252139 206679 206679 11984 11984 13929 13929 15876 15876 6732 6732 17402 535 11426 5441 5773 5773 22000 22000 9148 9148 17402 17402 2472 2472 2637 2637 Training 91287 91287 Recruitment 62338 62338 Supplies 5021 5021 Miscellaneous 1988 1988 General Administration 1505 1505 1806 1806 748118 698282 44395 5441 12845 113727 33291 417792 14509 2472 0 12037 46136 543556 977 540 977 540 X 0 0 0 0 45159 543016 45159 543016 46136 543556 X 0 0 0 X 120000 1245975 1365975 120000 1245975 1365975 1365975 1365975 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14509 2472 12037 12037 1 PROVISION FOR BOOKS and TUITION 23 193488 0 N/A N/A Stipend provided to mentors 24 58650 0 N/A N/A Other Information: Part IV: Part III; Line 1 Participants involved in the organizations program are awarded education and living costs in the form of a loan. The loan will be repaid to the organization through years of service in Memphis' urban schools. For every one year of service, the organization will forgive one-third of the loan. After three years of service, the entire balance will be forgiven. 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 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 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. Form 990, page 11, line 7(b) Notes and Loans Receivable In accordance with the by-laws and exempt status of the organization, advances for living expenses are provided for the participants qualifying for the program. The advances are awarded to each participant in the form of a loan, and upon fulfillment of the program's requirements each participant receives a 1099 as the loans are forgiven.