READ FOUNDATION

Address
4450 S MENDENHALL RD
MEMPHIS, TN 38141
Contact
Website: http://www.sememphis.org
Phone: +1 (901) 367-7814
Nonprofit
NTEE: B99 - Education N.E.C.
EIN: 94-3487601

Mission

THE MISSION OF MEMPHIS SCHOOL OF EXCELLENCE IS TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.
 20172016201520142013
Basic features of the organization
Doing business as nameMEMPHIS SCHOOL OF EXCELLENCE
Year of formation2009
Subsection code03
PF filing required0    
Metropolitan statistical area4920
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$89,393.00$74,071.00$84,000.00  
Sum of reportable (W2/1099) compensation$91,872.00$78,394.00$77,050.00$160,075.00$173,416.00
Number of employees5046484542
Number of people compensated >$100k00000
Number of volunteers3002501505020
Number of highly compensated contractors0000 
Personnel
Akkus, Cem
TitlePRESIDENTPRESIDENTPRESIDENTPRESIDENTPRESIDENT
Name of key/compensated personDR CEM AKKUSDR CEM AKKUSCEM AKKUSCEM AKKUSCEM AKKUS
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrue True
Average hours per week working for org2.002.002.002.002.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Aktas-Kocak, Ozgenc
Title   TREASURERTREASURER
Name of key/compensated person   OZGENC AKTAS-KOCAKOZGENC AKTAS-KOCAK
Position of compensated person
Current individual trustee or director   TrueTrue
Current officer    True
Average hours per week working for org   2.002.00
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Celikok, Mutlu
Title   VICE PRESIDENTVICE PRESIDENT
Name of key/compensated person   MUTLU CELIKOKMUTLU CELIKOK
Position of compensated person
Current individual trustee or director   TrueTrue
Current officer    True
Average hours per week working for org   2.002.00
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Connolly, Robert
Title   BOARD MEMBERBOARD MEMBER
Name of key/compensated person   ROBERT P CONNOLLYROBERT P CONNOLLY
Position of compensated person
Current individual trustee or director   TrueTrue
Average hours per week working for org   2.002.00
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Demirbuga, Bayram
TitleBOARD MEMBERBOARD MEMBER   
Name of key/compensated personBAYRAM DEMIRBUGABAYRAM DEMIRBUGA   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.002.00   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Farmer, Patty
TitleTREASURERTREASURERTREASURERTREASURER 
Name of key/compensated personPATTY FARMERPATTY FARMERPATTY FARMERPATTY FARMER 
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officerTrueTrueTrue  
Average hours per week working for org2.002.002.002.00 
Reportable compensation from org$0.00$0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00 
Gumus, Ali
Title   OFFICEREXECUTIVE DIRECTOR
Name of key/compensated person   ALI GUMUSALI GUMUS
Position of compensated person
Current individual trustee or director    True
Current officer   TrueTrue
Average hours per week working for org   2.002.00
Reportable compensation from org   $81,671.00$88,625.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Kuscu, Emin
Title  SECRETARYSECRETARYSECRETARY
Name of key/compensated person  EMIN KUSCUEMIN KUSCUEMIN KUSCU
Position of compensated person
Current individual trustee or director  TrueTrueTrue
Current officer  True True
Average hours per week working for org  2.002.002.00
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs  $0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00$0.00$0.00
Potts, Richard
TitleBOARD MEMBERBOARD MEMBER   
Name of key/compensated personDR RICHARD POTTSDR RICHARD POTTS   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org2.002.00   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Sen, Fatih
TitleSECRETARYSECRETARYBOARD MEMBERBOARD MEMBER 
Name of key/compensated personDR FATIH SENDR FATIH SENFATIH SENFATIH SEN 
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officerTrueTrue   
Average hours per week working for org2.002.002.002.00 
Reportable compensation from org$0.00$0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00 
Turkay, Muhammet
TitleEXECUTIVE DIRECTOREXECUTIVE DIRECTOREXECUTIVE DIRECTOROFFICERSCHOOL PRINCIPAL
Name of key/compensated personMUHAMMET TURKAYMUHAMMET TURKAYMUHAMMET TURKAYMUHAMMET TURKAYMUHAMMET TURKAY
Position of compensated person
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org40.0040.0040.002.002.00
Reportable compensation from org$91,872.00$78,394.00$77,050.00$78,404.00$84,791.00
Other comp, non-reportable, from org and related orgs$20,736.00$21,369.00$6,780.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION GOALS.
Program service expenses, total$3,591,610.00$3,072,325.00$2,693,937.00$1,691,090.00$1,596,650.00
Programs, including revenue & expenses
A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.
Program expenses$3,591,610.00$3,072,325.00$2,693,937.00$1,691,090.00 
Program revenue$4,178,681.00$3,530,721.00$3,484,209.00$3,025,808.00 
Program descriptionA PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY. 
OPERATES AN ALTERNATIVE SCHOOL TO IMPROVE THE LEARNING OF STUDENTS WITH SPECIAL NEEDS AS SPECIFIED IN THE FEDERAL INDIVIDUALS WITH DISABILITIES EDUCATION ACT.
Program expenses    $1,596,650.00
Program revenue    $3,094,289.00
Program description    OPERATES AN ALTERNATIVE SCHOOL TO IMPROVE THE LEARNING OF STUDENTS WITH SPECIAL NEEDS AS SPECIFIED IN THE FEDERAL INDIVIDUALS WITH DISABILITIES EDUCATION ACT.
Financial data
Revenue
Total revenue$4,642,451.00$4,159,192.00$3,877,941.00$3,025,808.00$3,094,289.00
Revenue from contributions (total)$463,770.00$628,471.00$393,732.00$0.00$0.00
Investment income, current yr$82,241.00$49,169.00$67,960.00$0.00$0.00
Total revenue from grants, etc., current yr$463,770.00$628,471.00$393,732.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$2,652.00$0.00$0.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)$4,096,440.00$3,481,552.00$3,413,597.00$3,025,808.00$3,094,289.00
Gross receipts$4,642,451.00$4,159,192.00$3,877,941.00$3,025,808.00$3,094,289.00
Sources of contributions
Revenue from gov't grants$462,780.00$377,428.00$393,132.00  
Revenue from all other contributions$990.00$251,043.00$600.00  
Other types of revenue
Miscellaneous revenue (total)  $2,652.00  
Net rental income  $0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$4,249,261.00$3,507,331.00$3,046,537.00$3,244,987.00$3,036,359.00
Total functional expenses: program service $3,591,610.00$3,072,325.00$2,693,937.00$1,691,090.00$1,596,650.00
Total functional expenses: management and general$657,651.00$435,006.00$352,600.00$1,545,666.00$1,431,847.00
Total functional expenses: fundraising$0.00$0.00$0.00$8,231.00$7,862.00
Fees for services
Legal fees (total)$7,620.00  $2,278.00$12,504.00
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
Assets and liabilities
Total assets$5,334,692.00$4,477,959.00$2,782,062.00$2,186,552.00$2,410,394.00
Total assets, beginning of year$4,477,959.00$2,782,062.00$2,186,552.00$2,410,394.00$2,380,884.00
Total liabilities$2,215,979.00$2,051,970.00$1,007,934.00$877,593.00$882,256.00
Total liabilities, beginning of year$2,051,970.00$1,007,934.00$877,593.00$882,256.00$910,676.00
Pledges & accounts receivable, net$14,504.00$36,156.00$18,167.00$23,790.00$39,614.00
Unrestricted net assets, end of yr$3,118,713.00$2,425,989.00$1,774,128.00$1,308,959.00$1,528,138.00
Net assets$3,118,713.00$2,425,989.00$1,774,128.00$1,308,959.00$1,528,138.00
Net assets, beginning of year$2,425,989.00$1,774,128.00$1,308,959.00$1,528,138.00$1,470,208.00
Other liabilities$359,353.00$945,524.00$504,662.00  
Other assets$555,704.00$803,978.00$263,780.00  
Cash: non-interest bearing$722,238.00$1,078,283.00$899,001.00$375,983.00$351,294.00
Cash: non-interest bearing, beginning of year$1,078,283.00$899,001.00$375,983.00$351,294.00$125,194.00
Other financial variables
Revenue less expenses$393,190.00$651,861.00$831,404.00-$219,179.00$57,930.00
Advertising (total)$19,151.00$21,360.00$15,155.00$17,234.00$20,724.00
Prepaid expenses & deferred charges$58,637.00$50,000.00$96,947.00$50,000.00$50,096.00
Accounts payable & accrued expenses$364,818.00$81,159.00$51,919.00$83,782.00$33,935.00
Secured mortgages and notes payable$1,491,808.00$1,025,287.00$451,353.00$793,811.00$848,321.00
Total net assets or fund balances$3,118,713.00$2,425,989.00$1,774,128.00$1,308,959.00$1,528,138.00
Depreciation, depletion, amortization$260,818.00$239,983.00$232,612.00$232,611.00$232,148.00
Governance and accountability
Number of voting members55445
Number of independent voting members55445
Financial sheets auditedTrueTrueTrueTrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2016-07-012015-07-012014-07-012013-07-012012-07-01
Tax year end date2017-06-012016-06-012015-06-012014-06-012013-06-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2018-01-082017-04-192016-04-072015-01-282014-07-02
IRS schema version2016v3.02015v2.12014v6.02013v4.02012v2.1
Filing identifier201713479349300636201643479349300009201640359349300209201520129349301117201431349349306063
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