2026-05-11T08:25:26-05:00 2025-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1755 KIRBY PARKWAY SUITE 200 MEMPHIS TN 38120 990 2024-07-01 943487601 READ FOUNDATION DBA MEMPHIS SCHOOL OF EXCELLENCE MSOE 9015902111 8364 MACON RD CORDOVA TN 38018 DR SAMUEL BEYHAN EXECUTIVE DIRECTOR 9015902111 2026-05-08 1 1 RICHARD A SWOPE P00590766 9016834234 2026-05-08 2024 2025-03-06 01:10:19Z X DR SAMUEL BEYHAN 8364 MACON RD CORDOVA TN 38018 24112121 0 X HTTPS://WWW.READFOUNDATIONUS.ORG/ X 2009 TN SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENT 6 6 264 0 0 0 6505172 1522150 20230799 22246755 199339 279726 0 63490 26935310 24112121 0 0 0 0 13797255 16218398 0 0 0 7717556 6815574 21514811 23033972 5420499 1078149 36592577 37744478 20716804 20710792 15875773 17033686 X SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENTEACH STUDENT IS EMPOWERED TO SUCCEED IN COLLEGE AND CAREER BY:MASTERING A RIGOROUS, STEM-FOCUSED CURRICULUM,EXPERIENCING A SAFE, WELCOMING, AND INCLUSIVE ENVIRONMENT,RECEIVING INDIVIDUAL ACADEMIC, SOCIAL, AND EMOTIONAL SUPPORT,WORKING ALONGSIDE FAMILIES AND COMMUNITY PARTNERS.COLORS: BLUE, RED, WHITE | MASCOT: EAGLE | MOTTO: SOARING TO EXCELLENCES: SERVICE | O: OPPORTUNITY | A: ACHIEVEMENT | R: RESPONSIBILITY 0 0 15922980 22310245 A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY. 15922980 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 45 0 1 264 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 TN X X THE ORGANIZATION 9013677814 4550 S MENDENHALL MEMPHIS TN 38141 DR RICHARD E POTTS PRESIDENT 2.00 X X 0 0 0 PATTY FARMER TREASURY 2.00 X X 0 0 0 VEDA V T CHERRY VICE PRESIDENT 2.00 X X 0 0 0 DR ISMAIL FIDAN SECRETARY / MEMBER 2.00 X X 0 0 0 DR DAVID AKDEMIR MEMBER 2.00 X 0 0 0 DR CEM AKKUS MEMBER 2.00 X 0 0 0 SAMUEL BEYHAN EXECUTIVE DIRECTOR 40.00 X 119797 0 32141 MUGIRE AYCI ASSISTANT EXECUTIVE DIRECTOR 40.00 X 105021 0 29206 224818 0 61347 2 0 1 0 DURHAM SCHOOL SERVICES 2601 NAVISTAR DRIVE LISLE IL 60532 TRANSPORTATION 1034883 PLYMOUTH INDUSTRIAL OP LP PO BOX 92906 CLEVELAND OH 02110 REAL ESTATE SERVICES 510017 MEMPHIS INDUSTRIAL TT LLC 6070 POPLAR AVENUE SUITE 500 MEMPHIS TN 38119 REAL ESTATE SERVICES 503696 SUBNOW 309 N MONTEREY FARMS COVE COLLIERVILLE TN 38017 SUBSTITUTE TEACHING SERVICES 354750 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 191828854 SECURITY SERVICES 217645 5 1080802 441348 1522150 PER PUPIL ALLOCATION REVENUE 611600 21679487 21679487 INTERNAL SCHOOL FUNDS 611600 447207 447207 SUMMER LEARNING CAMPS 611600 120061 120061 22246755 279726 279726 OTHER INCOME 611600 63490 63490 63490 24112121 22310245 0 279726 213805 168610 45195 13150933 10371050 2779883 833188 657066 176122 998069 787094 210975 1022403 806284 216119 70437 17587 52850 2613815 120089 2493726 836498 803038 33460 224838 237 224601 674846 674846 1276587 1225524 51063 SUPPLIES 623754 485085 138669 INTERNAL SCHOOL FUNDS 481316 481316 STAFF DEVELOPMENT 13483 13483 23033972 15922980 7110992 0 10440421 8818994 1148561 309449 159848 157871 18512877 4860077 13222734 13652800 3262085 8521937 8320175 3099076 3223104 36592577 37744478 1585732 1756318 9799745 9600022 9331327 9354452 20716804 20710792 X 14096296 15294243 1779477 1739443 15875773 17033686 36592577 37744478 1078149 79764 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1544600 1544600 11020541 1195319 9825222 3948535 2483933 1464602 1999201 1180825 818376 13652800 RESTRICTED CASH 577110 DEFERRED OUTFLOWS 1087891 NET PENSION ASSET 1558103 3223104 DEFERRED INFLOWS 440738 LEASE LIABILITY 8913714 9354452 X 24112121 0 24112121 0 24112121 23033972 0 23033972 0 23033972 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT OF THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2025, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE SCHOOL BELIEVES THAT IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2022. 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 EXPLANATION OF GOVERNMENT FINANCIAL AID: THE SCHOOL RECEIVED FINANCIAL AID FROM THE FEDERAL GOVERNMENT AND THE STATE OF TENNESSEE THROUGH THE FOLLOWING AWARDS: TITLE 1 AND SCS PER PUPIL ALLOCATIONS. X 0 0 0 0 0 0 0 0 0 SAMUEL BEYHAN EXECUTIVE DIRECTOR 119797 0 0 0 0 0 13098 0 19043 0 151938 0 0 0 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 THE READ FOUNDATION PAY SCALE FOR ITS EMPLOYEES. EXECUTIVE DIRECTOR AND PRINCIPAL SALARIES ARE DETERMINED BASED ON THE READ FOUNDATION PAY SCALE. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AS WELL AS UPON REQUEST.