2016-01-29T10:08:05-06:00 2015-06-30 621174696 BRUNDIGE PAYNE AND COMPANY PC 700 COLONIAL ROAD SUITE 220 MEMPHIS TN 381175156 990 2014-07-01 200028219 MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL INC MEMP 9014740955 168 JEFFERSON AVE MEMPHIS TN 381042219 DAVID BURKE DIRECTOR OF FINANCE 9014740955 2016-01-28 1 RICHARD A SWOPE CPA P00590766 9016834234 2014 2016-04-25 22:37:26Z DAVID BURKE 168 JEFFERSON AVE MEMPHIS TN 381042219 2509919 0 X WWW.GRIZZLIESPREP.ORG X 2003 TN THIS ORGANIZATION OPERATES A CHARTER SCHOOL AUTHORIZED BY THE SHELBY COUNTY UNIFIED SCHOOL DISTRICT. IT RECEIVES LOCAL, STATE, AND FEDERAL EDUCATION FUNDING AS WELL AS SUPPLEMENTAL FUNDING FROM THE MEMPHIS GRIZZLIES CHARITABLE FOUNDATION. 7 7 45 0 0 0 1794029 2452042 64119 57877 0 0 0 0 1858148 2509919 0 0 0 0 1237363 1466863 0 0 66528 657696 679020 1895059 2145883 -36911 364036 426226 885594 295024 582604 131202 302990 X EDUCATING YOUNG MEN IN GRADES SIX THROUGH EIGHT, MEMPHIS GRIZZLIES PREPARATORY CHARTER SCHOOL PREPARES ALL STUDENTS TO EXCEL ACADEMICALLY. WITHIN A RIGOROUS AND DISCIPLINED MIDDLE SCHOOL, STUDENTS BECOME EQUIPPED FOR SUCCESS IN HIGH SCHOOL, COLLEGE, AND LIFE. 0 0 1778421 57877 OPERATION OF A CHARTER SCHOOL FOR YOUNG MEN IN GRADES SIX THROUGH EIGHT. 1778421 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 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 8 0 45 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X DAVID BURKE 9014740955 168 JEFFERSON AVE MEMPHIS TN 381042219 ROSS GLOTZBACH CHAIR 5.00 X X 0 0 0 GLENDA YARBROUGH SECRETARY 5.00 X X 0 0 0 CHARLES CAMPBELL DIRECTOR 1.00 X 0 0 0 SAMANTHA CHASE DIRECTOR 1.00 X 0 0 0 AUDREY JONES DIRECTOR 1.00 X 0 0 0 TRACEE WALLS DIRECTOR 1.00 X 0 0 0 CORDELL WALKER DIRECTOR 1.00 X 0 0 0 DAVID BURKE DIRECTOR OF FINANCE 40.00 X 70861 0 14224 ELIZABETH SIMPSON HEAD OF SCHOOL 40.00 X 78851 0 15011 149712 0 29235 0 0 0 0 0 1936159 515883 2452042 VARIOUS PROGRAM REVENU 611710 57877 57877 57877 2509919 57877 0 0 78851 55196 15770 7885 1171622 1027469 103401 40752 4902 4902 120603 104345 11546 4712 90885 78048 9117 3720 785 785 54380 54380 26601 25561 1040 20698 11239 9459 244654 219104 25550 20877 18789 2088 22201 22201 SUPPLIES 69165 69165 FIELDTRIPS 55685 55685 PROFESSIONAL DEVELOPMEN 55490 55490 BUS LEASING 40557 40557 67927 24110 43817 2145883 1778421 300934 66528 X 192889 179892 300000 162268 3580 7225 166222 275798 39898 63844 235900 426226 885594 295024 582604 295024 582604 X 0 0 0 0 131202 302990 131202 302990 426226 885594 364036 -192248 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32608 32608 140071 1175 138896 79664 35084 44580 23455 3639 19816 235900 X 2589919 80000 80000 2509919 0 2509919 2225883 80000 80000 2145883 0 2145883 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES 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, 2015, 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. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL MEET REV. PROC. 75-50, 1975-2 C.B. 587 SECTION 4.0 (2)C BY DRAWING STUDENTS FROM LOCAL COMMUNITIES. THE SCHOOL CURRENTLY HAS A MAJORITY MINORITY PERCENTAGE OF STUDENTS ENROLLED. SCHEDULE E, PART I, LINE 6 STUDENTS APPLY AND CAN BE APPROVED FOR FREE OR REDUCED SCHOOL MEALS BASED ON INCOME ELIGIBILITY GUIDELINES OR OTHER BENEFIT ELIGIBILITY. THE SCHOOL COMPLIES WITH ALL SCHOOL NUTRITION PROGRAM REGULATIONS FOR FOOD SERVICE. THE SCHOOL SUBMITS CLAIMS TO THE DEPARTMENT OF EDUCATION ON A MONTHLY BASIS IN ORDER TO BE REIMBURSED FOR QUALIFYING MEALS. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 990 WAS PROVIDED TO THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS A CONDITION OF BOARD MEMBERSHIP. EMPLOYEES SIGN A FRAUD REPORTING AGREEMENT THAT COMPELS THEM TO REPORT ANY KNOWN MISAPPROPRIATION OF FUNDS OR RESOURCES BY AN EMPLOYEE OR BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 15 EMPLOYEE COMPENSATION IS BASED ON COMPENSATION SCHEDULE USED BY OTHER CHARTER SCHOOLS IN MEMPHIS, TN AND NASHVILLE, TN. THE COMPENSATION SCHEDULE WAS APPROVED BY THE SHELBY COUNTY UNIFIED SCHOOL BOARD. FORM 990, PART VI, SECTION C, LINE 19 POLICIES AND PROCEDURES FOR THE SCHOOL ARE DISTRIBUTED TO PARENTS OF THE STUDENTS IN HARD COPY AT THE BEGINNING OF THE SCHOOL YEAR AND ARE AVAILABLE ON THE SCHOOL'S WEBSITE AT WWW.GRIZZLIESPREP.ORG. BOARD MEETING SCHEDULES AND AGENDAS AND MINUTES FOR BOARD MEETINGS ARE AVAIABLE ON THE SCHOOL'S WEBSITE. OTHER DOCUMENTS, SUCH AS ARTICLES OF INCORPORATION, 801C3 DETERMINATION LETTER, AND QUARTERLY/YEARLY FINANCIAL REPORTS ARE PUBLIC REPORTS AND ARE AVAILABLE UPON REQUEST EITHER FROM THE SCHOOL OR THE APPROPRIATE GOVERNEMENT AGENCY. PART X, LINE 9(B) DEFERRED CHARGES INCLUDE DEFERRED OUTFLOWS OF RESOURCES PER GASB 68, TEACHER'S PENSION LIABILITY OF $157,747. PART X, LINE 17(B) ACCRUED EXPENSES INCLUDE DEFERRED INFLOWS OF RESOURCES PER GASB 68, TEACHER'S PENSION LIABILITY OF $252,872. PART XI, LINE 2C THE PROCESS USED BY THE COMMITTEE TO OVERSEE THE AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.