2026-04-07T08:53:14+00:00 2025-07-31 440160260 Forvis Mazars LLP One Oak Plaza Suite 300 Asheville NC 28801 990 2024-08-01 620545618 MEMPHIS UNIVERSITY SCHOOL MEMP 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 RANKIN FOWLKES CFO 9012601300 2026-04-07 true true Amy Bibby P00445891 8282542254 2026-04-07 2024 2025-03-06 01:10:19Z RANKIN FOWLKES 6191 PARK AVENUE MEMPHIS TN 38119 40665370 false X WWW.MUSOWLS.ORG X 1955 TN COLLEGE PREPARATORY SECONDARY SCHOOL FOR BOYS 24 24 142 25 4568 0 18795847 17811572 15398268 15961873 2201502 1489397 -39520 36746 36356097 35299588 2664009 2957741 0 13113640 13676959 0 1225311 6094457 6222245 21872106 22856945 14483991 12442643 94403933 106872973 19375360 18984619 75028573 87888354 MEMPHIS UNIVERSITY SCHOOL IS A COLLEGE-PREPARATORY SCHOOL DEDICATED TO ACADEMIC EXCELLENCE, CULTIVATION OF SERVICE AND LEADERSHIP, AND THE DEVELOPMENT OF WELL-ROUNDED YOUNG MEN OF STRONG MORAL CHARACTER, CONSISTENT WITH THE SCHOOL'S CHRISTIAN TRADITION. false false 14695006 518417 15558424 EDUCATION GRADES 7-12 APPROXIMATELY 603 STUDENTS 2439324 2439324 FINANCIAL AID FOR STUDENTS IN GRADES 7-12 APPROXIMATELY 189 STUDENTS 17134330 true true false false false false false false false true true true false false true true true false true false false false false false false false false false true true true false false false false false false false false true true false false false false false false false false false true 84 0 true 142 true true true false false false false false false false false false false false X 24 24 false false false false false false false true true false false false true true true true false false true false false false TN X MS BETH HUNT 9012601300 6191 PARK AVENUE MEMPHIS TN 38119 D STEPHEN MORROW Treasurer 2.0 X X 0 0 0 FREDERICK C SCHAEFFER JR Secretary 2.0 X X 0 0 0 GLENN A CROSBY II Vice-Chairman 2.0 X X 0 0 0 WILLIAM V THOMPSON Chairman 2.0 X X 0 0 0 ANDREW F CATES BOARD MEMBER 2.0 X 0 0 0 BRANDON K ARRINDELL BOARD MEMBER 2.0 X 0 0 0 J BRETT GRINDER BOARD MEMBER 2.0 X 0 0 0 JAMES F BURNETT BOARD MEMBER 2.0 X 0 0 0 JAMES H BARTON JR BOARD MEMBER 2.0 X 0 0 0 JEFFREY B MESKIN BOARD MEMBER 2.0 X 0 0 0 JENNIFER R RANSOM BOARD MEMBER 2.0 X 0 0 0 JOSEPH M MORRISON BOARD MEMBER 2.0 X 0 0 0 MARGARET C MCLEAN BOARD MEMBER 2.0 X 0 0 0 MARK J HALPERIN BOARD MEMBER 2.0 X 0 0 0 P TROWBRIDGE GILLESPIE JR BOARD MEMBER 2.0 X 0 0 0 PHILIP S WUNDERLICH BOARD MEMBER 2.0 X 0 0 0 R EARL BLANKENSHIP BOARD MEMBER 2.0 X 0 0 0 RICHARD C MOORE III BOARD MEMBER 2.0 X 0 0 0 ROBERT J HUSSEY BOARD MEMBER 2.0 X 0 0 0 ROBERT M FOCKLER BOARD MEMBER 2.0 X 0 0 0 W THOMAS HUTTON JR BOARD MEMBER 2.0 X 0 0 0 WILLIAM B DUNAVANT III BOARD MEMBER 2.0 X 0 0 0 William B Townsend BOARD MEMBER 2.0 X 0 0 0 WILLIAM E ORGEL BOARD MEMBER 2.0 X 0 0 0 PETER D SANDERS Headmaster 40.0 X 347521 0 24740 RANKIN FOWLKES Dir of Business Operations 40.0 X 189102 0 16819 PERRY DEMENT Dir of Advancement 40.0 X 164025 0 15565 Jenny Byers Director of College Counseling 40.0 X 129048 0 13816 John Simi Director of IT 40.0 X 108742 0 12801 Loyal Murphy Instructor of Mathematics 40.0 X 108114 0 12770 McKee Humphreys Assoc. Headmaster, Head Lower School 40.0 X 166144 0 15671 Zachary Hansen Upper School Principal 40.0 X 142374 0 14483 1355070 0 126665 12 false true false Crump Firm 81 Monroe Avenue Ste 100 Memphis TN 38130 Architecture 1267783 Grinder Taber and Grinder 1919 Lynnfield Road Memphis TN 38119 Construction 345036 Landscape Workshop 7902 US-70 Memphis TN 38133 Landscaping 126004 Warner's Athletic 570 Huntly Industrial Drive Smyrna TN 37167 Field Maintenance 123445 All American Inc 3230 Summer Ave Memphis TN 38112 Sporting goods 114164 6 17811572 486040 17811572 TUITION & FEES 611600 15522827 15522827 ATHLETICS/CAMPS 611710 164250 164250 AUXILIARY/INSTRUCTIONS REVENUE 611600 221544 221544 CAFETERIA 611710 53252 53252 0 0 0 0 15961873 778601 4568 774033 85724 85724 0 85724 85724 5891738 5135022 45920 756716 -45920 710796 710796 134713 184840 -50127 -50127 Miscellaneous Income 900099 1149 1149 0 0 0 0 1149 35299588 15558424 4568 1925024 2957741 2957741 845317 86811 637561 120945 10110819 6902664 2414533 793622 483730 483730 1443909 1443909 793184 594888 198296 312261 88799 223462 54555 54555 107702 107702 0 0 0 0 1505828 903687 291397 310744 119171 119171 608128 502768 105360 137434 137434 1844501 1660051 184450 291797 218848 72949 AUXILIARY EXPENSE 707702 707702 INSTRUCTION & STUDENT A 401312 313497 87815 MISCELLANEOUS 119224 119224 BOND COSTS 12630 12630 0 0 0 0 22856945 17134330 4497304 1225311 2311260 4290180 7384358 7638370 16882011 25971939 6993594 6748641 0 0 0 0 237182 245745 67473 16803 58259096 36500077 21207794 21759019 24591555 24914645 14633670 15174127 0 95036 113504 94403933 106872973 21192 85636 12920878 13124804 6018434 5321064 0 0 414856 453115 19375360 18984619 X 41618846 39269567 33409727 48618787 75028573 87888354 94403933 106872973 X 12442643 488106 -70968 X false true false false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45826866 5930467 1607110 3316038 50048405 38377223 5990508 4571214 3112079 45826866 37831017 707387 3029763 3190944 38377223 43924575 1043962 -3940704 3196816 37831017 36983821 736794 9209383 3005423 43924575 0.6 0.4 0.0 false false 281637 281637 29774851 20077827 9697024 6569393 5361921 1207472 21633215 11060329 10572886 21759019 153159 F Closely-held equity interests Financial derivatives 153159 F GT OFFSHORE FUND 12655852 F SE EUROPEAN CONCENTRATED OPPORTUNITIES 2365116 F 15174127 Federal Income Taxes FUNDS HELD IN TRUST 177731 CAPITAL LEASES PAYABLE 275384 453115 X 33354540 417138 184840 601978 32752562 107702 2439324 2547026 35299588 20494759 184840 184840 20309919 107702 2439324 2547026 22856945 Schedule D, Part V, Line 4 Intended uses of endowment funds THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 50 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. SPENDING POLICY AND HOW THE INVESTMENT OBJECTIVES RELATE TO SPENDING POLICY: THE SCHOOL HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4.5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE CALENDAR YEAR-END PROCEEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE SCHOOL CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE SCHOOL EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE OF 4.5% ANNUALLY. THIS IS CONSISTENT WITH THE SCHOOL'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE SCHOOL HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JULY 31, 2025. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 COST OF GOODS SOLD - 184840 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS - 2439324 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 COST OF GOODS SOLD INCLUDED AS EXPENSE ON FINANCIAL STATEMENTS - 184840 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements FINANCIAL AID SHOWN NET OF TUITION ON FINANCIAL STATEMENTS - 2439324 true true true true true true true false false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY ADVERTISEMENTS WERE PURCHASED IN SEVERAL LOCAL NEWSPAPERS, LOCAL AND REGIONAL MAGAZINES, AND LOCAL RADIO STATIONS. true SCHOLARSHIPS, financial aid, and tuition discounts 189 2957741 X X true true X false false false false false false false false false PETER D SANDERS Headmaster 347521 0 0 0 0 0 17376 0 7364 0 372261 0 0 0 RANKIN FOWLKES Dir of Business Operations 189102 0 0 0 0 0 9455 0 7364 0 205921 0 0 0 PERRY DEMENT Dir of Advancement 164025 0 0 0 0 0 8201 0 7364 0 179590 0 0 0 Zachary Hansen Upper School Principal 142374 0 0 0 0 0 7119 0 7364 0 156857 0 0 0 McKee Humphreys Assoc. Headmaster, Head Lower School 166144 0 0 0 0 0 8307 0 7364 0 181815 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use HOUSING ALLOWANCE IS PROVIDED TO THE HEADMASTER. THIS BENEFIT IS FOR THE SCHOOLS CONVENIENCE AND IS NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Health or social club dues or initiation fees SOCIAL CLUB DUES ARE PROVIDED TO THE HEADMASTER. THIS BENEFIT IS FOR THE SCHOOLS CONVENIENCE AND IS NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION. A THE HEALTH EDUCATIONAL AND HOUSING FACILITY BOA 912828F39 2017-06-30 9150000 RETIRE OTHER BOND DEBT false false false A 3750000 9150000 179975 8970025 false true true true A false false false false false false 0.0 0.0 0.0 false false 0 false false A false false true false false false 0 false false false 0 false false false A false Schedule K, Part I BOND ISSUES (A) ISSUER NAME: THE HEALTH, EDUCATIONAL AND HOUSING FACILITY BOARD OF SHELBY COUNTY, TN (F) DESCRIPTION OF PURPOSE: RETIRE OTHER BOND DEBT Grinder Taber & Grinder Inc (GTG) Mr. grinder is on the board of trustees & is an owner at GTG 345036 GTG provided construction Services to MUS false 15 486040 Market value 0 false false false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - NUMBER OF CONTRIBUTORS IN THE CURRENT YEAR Form 990, Part VI, Line 11b Review of form 990 by governing body The Headmaster, Controller and Director of Business Operations review the 990 prior to filing. The return will be distributed to the BOD for review also. Form 990, Part VI, Line 12c Conflict of interest policy Conflict of interest submissions by the Trustees are reviewed annually. Form 990, Part VI, Line 15a Process to establish compensation of top management official The executive committee of the Board of trustees reviews and determines the Headmaster's compensation using statistics and benchmarks from NAIS schools around the nation. Compensation for all personnel decided upon by the Headmaster. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances LOSS ON DERIVATIVE FINANCIAL INSTRUMENTS - -70968; Total - -70968;