Overview
What is Memphis Merit Academy Inc?
Memphis Merit Academy Inc, headquartered in Memphis, Tennessee, is a nonprofit organization dedicated to nurturing the academic growth and leadership skills of its students. Located at 4775 American Way, the academy serves kindergarten through 8th-grade pupils in the area. Its primary mission is to prepare these students for success in high school, college, and beyond by providing rigorous academics, top-quality instruction, and character development in a supportive learning environment. The academy employs 56 individuals, contributing to its vision of fostering well-rounded individuals capable of thriving in various aspects of life.
Official website here: www.memphismeritacademy.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72% (Two-Star out of Four Stars)
Memphis Merit Academy Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of performance in accountability and finance. The organization benefits from an entirely independent board, demonstrating a solid governance structure with full scores in several areas including financial audits and conflict of interest policies. However, while they excel in governance, their financial metrics, such as the liabilities to assets ratio and program expense ratio, reveal potential weaknesses that may raise concerns about financial sustainability.
The majority of their financial practices, like the material diversion of assets and the listing of their website on tax forms, exhibit positive practices that underscore transparency. Nonetheless, the low score in the liabilities to assets ratio suggests that the organization may have significant debt compared to its assets, which could impact its long-term viability. The program expense ratio indicates that a relatively lower portion of their budget is allocated directly to programs, hinting at possible inefficiencies.
In summary, while Memphis Merit Academy Inc shows strong governance and a commitment to transparency, the financial indicators merit scrutiny. Stakeholders might consider these factors when assessing the organization's overall health and its capacity to fulfill its mission effectively in the community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Memphis Merit Academy Inc?
80% of 8 reviewers on Facebook recommend Memphis Merit Academy Inc. Here is a summary of their reviews:
Many users express a strong belief in the mission of Memphis Merit Academy, highlighting the positive impact the organization has on the community. The enthusiastic comment "There is Merit in Memphis!!" reflects a sense of pride and satisfaction among supporters, indicating that the nonprofit is making a meaningful difference in the lives of those it serves.
Overall, there is an encouraging sentiment towards the services provided by Memphis Merit Academy. While the number of reviews is limited, the existing feedback suggests that patrons appreciate the efforts of the organization and feel it is contributing positively to local educational initiatives.
This AI summary has been generated from reviews found on Facebook.
Is Memphis Merit Academy Inc legitimate?
Memphis Merit Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Merit Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $173,991
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,330,512
For more financial information, click here
Official website here: www.memphismeritacademy.org/
What is the mission statement of Memphis Merit Academy Inc?
The Memphis Merit Academy Inc, as a charter school, aims to prepare students from kindergarten to 8th grade for success in high school, college, and beyond. This is achieved through providing rigorous academics, high-quality instruction, and character development in a supportive school environment. The program services offered by the academy are designed to develop the necessary academic acumen and leadership skills in students, enabling them to excel in high school, thrive in college, and lead fulfilling lives.
Official website here: www.memphismeritacademy.org/
Who is the CEO of Memphis Merit Academy Inc?
Lakenna Booker is the Board Chair of Memphis Merit Academy Inc.
Official website here: www.memphismeritacademy.org/
What is the revenue of Memphis Merit Academy Inc?
Memphis Merit Academy Inc's revenue in 2022 was $3,378,082.
Official website here: www.memphismeritacademy.org/
Who are the executives of Memphis Merit Academy Inc and what are their salaries?
The average compensation at Memphis Merit Academy Inc during 2022 was $26,866. There are 56 employees and 1 volunteer at Memphis Merit Academy Inc.
Here are 14 key members and their salaries:
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- Compensation: $72,167
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Official website here: www.memphismeritacademy.org/
Where can I find the form 990 for Memphis Merit Academy Inc?
Memphis Merit Academy Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memphismeritacademy.org/
Learn more at the official website: www.memphismeritacademy.org/
Mission Statement of Memphis Merit Academy Inc
Memphis Merit Academy Inc, a charter school, is dedicated to equipping kindergarten to 8th-grade students in Memphis with the tools necessary for success in high school, college, and beyond. The organization achieves this by providing rigorous academics, high-quality instruction, and character development within a supportive school environment. Through its educational programs and instruction, Memphis Merit Academy aims to foster academic acumen and leadership skills in its students, enabling them to excel in high school, thrive in college, and lead fulfilling lives filled with opportunities.
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Impact
July, 2024
Memphis Merit Academy Inc's impact is evident in the transformation of kindergarten through 8th-grade students in Memphis into individuals equipped for success in high school, college, and life. By providing rigorous academics, high-quality instruction, and character development in a supportive school environment, the organization cultivates academic prowess and leadership skills essential for students to excel in high school, thrive in college, and lead lives full of opportunity. Through its educational curriculum and dedicated efforts, Memphis Merit Academy is shaping young minds and empowering them to realize their full potential.
This information is meant to be a general summary of Memphis Merit Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $47,308
- Gross Receipts: $3,378,082
Assets and Liabilities:
- Total Assets: $2,579,395
- Total Liabilities: $1,643,775
- Net Assets: $935,620
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUPPLEMENTAL PROGRAMS
Revenue
$47,308
Organization Details
Founding Year
2017
Phone
(901) 617-3690Principal Officer
Lakenna Booker
Main Address
4775 AMERICAN WAY, MEMPHIS, TN, 38118
Website
www.memphismeritacademy.org/NTEE Category
Code: B29 - Education
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