2025-02-11T15:53:24-06:00 2023-06-30 261180446 THE MARSTON GROUP PLC 1661 INTERNATIONAL DRIVE SUITE 250 MEMPHIS TN 38120 990 2022-07-01 464445628 PROMISE ACADEMY SPRING HILL INC PROM 9013244456 1346 BRYAN STREET MEMPHIS TN 38108 PATRICK WASHINGTON EXECUTIVE DIRECTOR 9013244456 2025-02-11 1 0 SUSAN M LATTIMORE P00834343 9017613003 2025-02-11 2022 2025-03-06 01:10:19Z PATRICK WASHINGTON 1346 BRYAN STREET MEMPHIS TN 38108 6141045 0 X HTTPS://PROMISEACADEMY.COM X 2007 TN OUR CENTRAL AND ONLY WORK IS TO TEACH AND INSPIRE THE MIND, BODY AND SPIRIT OF OUR CHILDREN SO THAT THEY CAN SUCCEED IN ANY ACADEMIC OR CULTURAL SETTING. PROMISE ACADEMY IS COMMITTED TO PREPARING CHILDREN TO EXCEL IN THE NATION'S MOST RIGOROUS SCHOOLS. 11 11 62 0 0 0 2564145 6098278 3377482 42767 20 0 118008 0 6059655 6141045 0 0 0 0 3185575 3145578 0 0 0 2615098 2902379 5800673 6047957 258982 93088 2943439 2457230 1314613 484589 1628826 1972641 X OUR CENTRAL AND ONLY WORK IS TO TEACH AND INSPIRE THE MIND, BODY AND SPIRIT OF OUR CHILDREN SO THAT THEY CAN RISE ABOVE THE REST AND SUCCEED IN ANY ACADEMIC OR CULTURAL SETTING. PROMISE ACADEMY IS COMMITTED TO PREPARING CHILDREN TO EXCEL IN THE NATION'S MOST RIGOROUS SCHOOLS. THE SCHOOL PROVIDES AN ALTERNATIVE MEANS WITHIN THE PUBLIC SCHOOL SYSTEM TO ACCOMPLISH NECESSARY OUTCOMES OF EDUCATION. 0 0 4523144 42767 OUR CENTRAL WORK IS TO TEACH AND INSPIRE THE MIND, BODY AND SPIRIT OF OUR CHILDREN SO THAT THEY CAN RISE ABOVE THE REST AND SUCCEED IN ANY ACADEMIC AND CULTRAL SETTING. PROMISE ACADEMY IS COMMITTED TO PREPARING CHILDREN TO EXCEL IN THE NATION'S MOST RIGOROUS SCHOOLS. THE SCHOOL PROVIDES AN ALTERNATIVE MEANS WITHIN THE PUBLIC SCHOOL SYSTEM TO ACCOMPLISH NECESSARY OUTCOMES OF EDUCATION. 4523144 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 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 1 0 0 0 1 21 0 62 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 TN X X PATRICK WASHINGTON 9013244456 1346 BRYAN STREET MEMPHIS TN 38108 CHARLES C GERBER PRESIDENT, CHAIRMAN 1.00 X X 0 0 0 GRADY GARRISON SECRETARY 1.00 X X 0 0 0 STEPHANIE CHITTOM TREASURER 1.00 X X 0 0 0 DIANA BURTON MEMBER 1.00 X 0 0 0 JOHNNY MOORE MEMBER 1.00 X 0 0 0 FATHER COLENZO HUBBARD MEMBER 1.00 X 0 0 0 EMILY R WOODSIDE MEMBER 1.00 X 0 0 0 CAROL RUSSELL MEMBER 1.00 X 0 0 0 PATRICIA EMORY-WALKER MEMBER 1.00 X 0 0 0 TERESA HANDY MEMBER 1.00 X 0 0 0 MARY COMPROPST MEMBER 1.00 X 0 0 0 PATRICK WASHINGTON EXECUTIVE DIRECTOR 40.00 X 130440 0 0 KIMBRA TURNER CHIEF OF ACADEMICS 40.00 X 103748 0 0 234188 0 0 2 0 0 0 LAVINIA GROUP LLC 2805 DODD ROAD STE 200 EAGAN MN 55121 PROFESSIONAL LEARNING 135623 DWCH LLC 4879 8THE ROAD MEMPHIS TN 38109 EDUCATIONAL SUPPORT SERVICES 134373 2 5099408 998870 6098278 OTHER 611110 42767 42767 42767 6141045 42767 0 0 X 234188 234188 2446366 2125457 320909 465024 368725 96299 1869557 1152778 716779 187472 159351 28121 STAFF DEVELOPMENT 303689 303689 SUPPLIES 296788 229351 67437 UTILITIES 126224 107290 18934 OTHER 90183 67637 22546 28466 8866 19600 6047957 4523144 1524813 0 43263 274873 1947899 1052694 6057 1322596 753062 386509 569534 559711 560129 2943439 2457230 624535 227179 690078 257410 1314613 484589 X 1257191 1604976 371635 367665 1628826 1972641 2943439 2457230 93088 250727 0 X X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1322596 753062 569534 569534 STABILIZATION RESERVE TRUST 119981 DEFERRED OUTFLOWS 330694 DUE FROM RELATED PARTY 109454 560129 NET PENSION LIABILITY 61651 LONGTERM LEASE LIABILITY 95759 DUE TO RELATED PARTY 100000 257410 6141045 0 6141045 0 6141045 6047957 0 6047957 0 6047957 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PROMISE ACADEMY SPRING HILL INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL AND ACCEPTS STUDENTS OF ALL RACES. SCHEDULE E, PART I, LINE 4 PROMISE ACADEMY SPRING HILL INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL. NO FEES ARE CHARGED; NO SCHOLARSHIPS NEEDED. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES FUNDS FROM THE ACHIEVEMENT SCHOOL DISTRICT AND THE STATE OF TENNESSEE BASED ON A PER-PUPIL ALLOCATION; THE SCHOOL ALSO RECIEVES FEBERAL TITLE I AND TITLES II FUNDING THAT PROVIDES FINANCIAL ASSISTANCE TO LOW INCOME AREA SCHOOLS; THE SCHOOL RECEIVES IDEA FUNDING FOR THE EDUCATION OF CHILDREN WITH DISABILITIES. ALSO RECEIVES FROM STATE OF TN VIA ASD, VPK, FACILITIES, DISTRICT SCHOOL PRIORITY, OTHER STATE GRANTS. RECEIVES E-RATE FUNDING. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, THE RETURN IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS SIGN A STATEMENT ANNUALLY CONFIRMING THEIR COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR A POSITION IS DETERMINED AS TO WHAT IS REASONABLE FOR THE EXPERIENCE, EXPERTISE, GEOGRAPHY, AND NEEDS OF THE ORGANIZATION. COMPENSATION IS REVIEWED BY THE BOARD FINANCE COMMITTEE, DISCUSSED AND VOTED ON AT BOARD MEETINGS. THE RESULTING DECISION IS RECORDED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S TAX DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 1,152,778. MANAGEMENT AND GENERAL EXPENSES 716,779. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,869,557. PART XII, LINE 2C THERE WAS NO CHANGE FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION C, LINE 18: THE ORGANIZATION'S TAX DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PROMISE ACADEMY INC 1346 BRYAN ST MEMPHIS TN 38108 201608155 CHARTER SCHOOL TN 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 PROMISE ACADEMY INC 20-1608155 Q 61260 INVOICES SUBMITTED THE ORGANIZATION IS SEEKING RELIEF FROM LATE FILING PENALTIES DUE TO REASONABLE CAUSE. THE ORGANIZATION SUFFERED FROM MULTIPLE TURNOVERS IN LEADERSHIP AND ACCOUNTING FIRMS DURING 2022, 2023 AND 2024. BOTH THE CFO AND EXECUTIVE DIRECTOR LEFT THE ORGANIZATION IN LATE 2022. A NEW EXECUTIVE DIRECTOR WAS HIRED IN DECEMBER 2022 AND IMMEDIATELY ATTEMPTED TO GET AN AUDIT COMPLETED FOR THE FISCAL YEAR ENDED JUNE 30, 2022. HOWEVER, DUE TO ONBOARDING A NEW ACCOUNTING FIRM IN THE FIRST QUARTER OF 2023 AND WAITING TO BE FIT IN TO THE CPA FIRM'S AUDIT SCHEDULE, THE AUDIT WAS NOT COMPLETED UNTIL DECEMBER 21, 2023. AT THAT TIME, THE CPA FIRM WHO CONDUCTED THE AUDIT, INFORMED THE ORGANIZATION THAT IT COULD NOT COMPLETE THE AUDIT FOR THE NEXT FISCAL YEAR ENDED JUNE 30, 2023. THE ORGANIZATION THEN ATTEMPTED TO FIND ANOTHER CPA FIRM TO CONDUCT THE AUDIT. THE 990 FOR FISCAL YEAR ENDED JUNE 30, 2022 WAS FILED BEFORE THE AUDIT WAS COMPLETED. THIS CAUSED ADDITIONAL COMPLICATIONS WITH THE FINANCIAL STATEMENTS AND AUDIT FOR THE FISCAL YEAR ENDED JUNE 30, 2023. THE AUDIT OF THE FINANCIALS FOR FISCAL YEAR ENDED JUNE 30, 2023, WAS NOT ABLE TO BE COMPLETED UNTIL SEPTEMBER 6, 2024. DUE TO THE CPA FIRM'S TAX DEPARTMENT'S FALL DEADLINE SCHEDULE AND STAFFING ISSUES, THE 990 FOR FISCAL YEAR ENDED JUNE 30, 2023 WAS NOT COMPLETED UNTIL DECEMBER 2024. ALL PARTIES INVOLVED ACTED IN GOOD FAITH IN GETTING BOTH THE AUDITS AND 990S PREPARED AS SOON AS THEY COULD. THERE WAS NO INTENTIONAL DISREGARD FOR THE RULES AND REGULATIONS. IT WAS CIRCUMSTANCES OUTSIDE THE CONTROL OF THE ORGANIZATION THAT CAUSED THE DELAYS.THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL WHICH SERVES STUDENTS IN AN ECONOMICALLY DISADVANTAGED AREA OF THE CITY. IT WOULD BE UNREASONABLY PUNITIVE FOR THE SCHOOL TO PAY LARGE FINES TO THE IRS IN LIEU OF EDUCATING ITS STUDENTS, INCLUDING THOSE WITH DISABILITIES.