2024-08-27T09:13:41-05:00 2023-06-30 581433845 FRAZIER & DEETER LLC 222 SECOND AVE SOUTH STE1840 NASHVILLE TN 37201 990 2022-07-01 812796759 VERIFIED SOLUTIONS FKA TENNESSEE SCHOLAR ACADEMICS VERI 9016026371 1910 MADISON AVE 2753 MEMPHIS TN 38014 JAMES DENNIS CHIEF STRATEGY OFFICER, CHAIR 9016026371 2024-08-26 1 1 DEBORAH L WILLETT CPA P00230541 6154166800 2022 2024-08-08 14:25:15Z JAMES DENNIS 1910 MADISON AVE 2753 MEMPHIS TN 38014 8369214 0 X WWW.VERIFIEDSOLUTIONS.ORG X 2016 TN WE ARE A SCHOOL MANAGEMENT ORGANIZATION OVER MEMPHIS SCHOLARS, A NETWORK OF THREE PUBLIC CHARTER SCHOOLS THAT ALSO PROVIDES CONTRACTED SUPPORT SERVICES TO OTHERPUBLIC SCHOOLS, PUBLIC CHARTER SCHOOLS, AND EDUCATIONAL ENTITIES. OURMISSION IS TO PROVIDE PRODUCT-DRIVEN SOLUTIONS THAT HELP SCHOOLSOPERATE MORE EFFICIENTLY SO THAT THEY CAN PRIORITIZE THE CORE WORK OFEDUCATING STUDENTS. THESE SOLUTIONS ARE BASED ON BEST PRATICES AND PASTSUCCESSFUL PERFORMANCE. 3 3 72 20 0 0 9725479 8205201 170532 144402 0 0 146065 19611 10042076 8369214 0 0 0 0 4445093 4330027 0 0 0 2913122 3606265 7358215 7936292 2683861 432922 8293768 5781776 2290682 970868 6003086 4810908 OUR MISSION IS TO OPERATE A NETWORK OF SCHOOLS AND PROVIDEPRODUCT DRIVEN SOLUTIONS THAT HELP SCHOOLS OPERATE MORE EFFICIENTLY SOTHAT THEY CAN PRIORITIZE THE CORE WORK OF EDUCATING STUDENTS. 0 0 7453326 144402 PROVIDED 180+ DAYS OF K-8 EDUCATION TO OVER 700 STUDENTS IN MEMPHIS, TN AND DEVELOPED OPERATIONAL (TEACHER STAFFING, FINANCE, AND HR) SUPPORT SERVICES TO CHARTER SCHOOLS, PUBLIC SCHOOLS, AND OTHER EDUCATIONAL ENTITIES. 7453326 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 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 1 0 0 0 0 1 X 23 0 72 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X ANGELA GOODIN 9014167874 90 W OLIVE ST MEMPHIS TN 38106 CLEO GRIFFIN BOARD MEMBER 1.00 X 0 0 0 NICHOLAS HAYES BOARD MEMBER 1.00 X 0 0 0 NICHOLAS PATTERSON BOARD MEMBER 1.00 X 0 0 0 JANAI DOUGLAS EXECUTIVE DIRECTOR 40.00 X 146800 0 0 JAMES DENNIS CHIEF STRATEGY OFFICER, CHAIR 40.00 X 151200 0 0 ANGELA GOODIN CHIEF OPERATING OFFICER 40.00 X 149100 0 0 447100 0 0 3 0 1 0 HARMONY TRANSPORTATION 31700 VAN DYKE AVE STE 160 WARREN MI 48093 TRANSPORTATION 354914 SLA MANAGEMENT 3217 CORRINE DR ORLANDO FL 32803 STUDENT NUTRITIONAL PROVIDER 319483 PARCOU LLC 7965 VETERANS PARKWAY STE 104 MILLINGTON TN 38053 JANITORIAL 220142 3 8205201 8205201 STUDENT ACTIVITIES 611710 144402 144402 144402 MISC REVENUE 900099 19611 19611 19611 8369214 144402 0 19611 447100 413657 33443 2955060 2734022 221038 681167 626100 55067 246700 216905 29795 216877 216877 2395 2395 108115 108115 574335 574335 9695 9695 112387 112387 816632 816632 1777 1777 143623 143623 95869 95869 REPAIRS 712233 712233 DIRECT INSTRUCTIONAL MA 458982 458982 SUPPLIES 247118 247118 RECRUITING AND RETENTIO 57199 57199 49028 49028 7936292 7453326 482966 0 757603 964560 879 879 1751360 2464171 1799169 170057 163112 184947 1730782 1115387 766037 615395 3055608 1381767 8293768 5781776 94820 825809 249802 0 1946060 145059 2290682 970868 X 3744119 4160775 2258967 650133 6003086 4810908 8293768 5781776 X 432922 -1625100 0 X 0 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 712182 282233 429949 626055 598747 27308 392545 234407 158138 615395 NET PENSION ASSET 408687 DEFERRED OUTFLOW RELATED TO PENSION 731634 TCRS STABILIZATION RESERVE TRUST 241446 1381767 DEFERRED INFLOWS RELATED TO PENSION 145059 145059 8369214 0 8369214 0 8369214 7936292 0 7936292 0 7936292 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WE ARE A ZONED SCHOOL AND WE ACCEPT ALL STUDENTS WHO LIVE IN THE ZONE OR MEET THE ELIGIBILITY REQUIREMENTS SET FORTH FOR THE ASD. WE ALSO INCLUDE INFORMATION ON OUR POLICY IN THE REGISTRATION MATERIAL. SCHEDULE E, PART I, LINE 4 LINE 4B IS NOT APPLICABLE AS NO SCHOLARSHIPS OR OTHER FINANCIAL ASSISTANCE IS AWARDED. LINE 4D IS NOT APPLICABLE AS THE ORGANIZATION DOES NOT SOLICIT CONTRIBUTIONS. X 0 0 0 0 0 0 0 0 0 JAMES DENNIS CHIEF STRATEGY OFFICER, CHAIR 151200 0 0 0 0 0 0 0 0 0 151200 0 0 0 FORM 990, PART IV, LINE 12A & 12B VERIFIED SOLUTIONS DID NOT OBTAIN INDEPENDENT AUDITED FINANCIAL STATEMENTS. MEMPHIS SCHOLARS LLC, A SINGLE MEMBER LIMITED LIABILITY COMPANY AND A DISREGARDED ENTITY OF VERIFIED SOLUTIONS, OBTAINED SEPARATE INDEPENDENT AUDITED FINANCIAL STATEMENTS. THIS IS THE SOLE ASSET OF VERIFIED SOLUTIONS. FORM 990, PART V, LINE 1A & 2A THE 1099S AND W2S REPORTED ON LINES 1A AND 2A WERE REPORTED UNDER THE FEIN FOR MEMPHIS SCHOLARS LLC, A DISREGARDED ENTITY OF VERIFIED SOLUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE SENT TO FULL BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE IS MONITORED THROUGH ANNUAL DISCLOSURE PROCESS AND THROUGH REGULARLY SCHEDULED BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED BY THE BOARD OF DIRECTORS, BASED ON MARKET RATE FOR SIMILAR POSITIONS IN MEMPHIS AND EXPLAINED IN PERSON TO THE EXECUTIVE DIRECTOR BY THE BOARD CHAIR. THE EXECUTIVE DIRECTOR REVIEWS PERFORMANCE AND LOOKS AT DATA FROM SIMILAR POSITIONS ACROSS MEMPHIS FOR OTHER OFFICERS AND KEY EMPLOYEES. THE EXECUTIVE DIRECTOR OUTLINES COMPENSATION CHANGES DURING REGULARLY SCHEDULED PERFORMANCE CONVERSATIONS WITH KEY EMPLOYEES. THE FOLLOWING IS USED TO DETERMINE ALL COMPENSATION: COMPARISON DATA FOR SIMILAR ROLES ACROSS ORGANIZATIONS IN THE EXISTING MARKET. SCOPE OF POSITION, SIZE OF THE ORGANIZATION, SUPPORT NEEDED TO IN CRITICAL POSITIONS. SALARY COMPARABLES FROM FUNDING PARTNERS THAT SUPPORT IN ORGANIZATIONS IN OUR INDUSTRY. REVIEW OF EXPERIENCE, EDUCATION, AND OVERALL POTENTIAL FOR GROWTH IN THE ROLE. ASSESSMENT OF PERFORMANCE AND CULTURAL AWARENESS AND ACCEPTANCE. SURVEYS OF STAKEHOLDERS TO DETERMINE "FIT AND PERCEPTION OF LEADERSHIP. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFILICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 8 IN A PRIOR YEAR, A CONTRIBUTION OF $1,625,100 WAS MADE TO THE MANAGEMENT COMPANY OF THE ORGANIZATION. THE AMOUNT WAS PREVIOUSLY REPORTED IN OTHER RECEIVABLES; HOWEVER, THE NATURE OF THE TRANSACTION WAS TO BE A CONTRIBUTION AND THE ORGANIZATION DID NOT INTEND TO SEEK REPAYMENT. THEREFORE, THE TRANSACTION SHOULD HAVE BEEN EXPENDED UPON OCCURRENCE. THE FUND BALANCE AND NET POSITION AS OF JUNE 30, 2022 HAS BEEN RESTATED BY $1,625,100. ADDITIONALLY, THE CHANGE IN NET POSITION AND CHANGE IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2022 WERE REDUCED BY $1,625,100 AS A RESULT OF THE RESTATEMENT. MEMPHIS SCHOLARS LLC 90 W OLIVE AVE MEMPHIS TN 38106 473971856 ESTABLISH SUPPORT, OPERATE, AND MANAGE CHARTER SCHOOLS IN MEMPHIS, TN TN 8369214 5781776 VERIFIED SOLUTIONS