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Artesian Community School

Tax-deductible

Memphis, TN501(c)(3)Education EIN 46-1846698Revenue $1.3M in FY2020

On file with the IRSartesianmemphis.com111 S Highland St, 38111-4640 · Memphis, TNTax-exempt since Jun 2014School — 170(b)(1)(A)(ii)

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Artesian school's mission is to provide the educational foundation for students to earn college degrees or industry certifications in career fields of their choice.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Run by 12 volunteers and 55 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$96K
to officers and key staff · 5% of spending
Top officer’s pay higher than 95% of similar orgs
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $43K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$190K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
Spent
$1.8M
To programs
72%
Net assets
$538K

From the FY2020 Form 990 (year ending June 2020) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020. IRS ruling in Jun 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $1.3M Management & general 28% · $501K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $96K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$96,262Pt VII · Sec A
Edward Harper
Treasurer
$0Pt VII · Sec A
Erica Hopkins
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Watermeier
Board Member
$0Pt VII · Sec A

Ashley Smith’s $96K as CEO is at the 95th percentile of top reported officer pay among 146 <$100K education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares students for college degrees or industry certifications in chosen career fields.

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2019
01

During the fiscal year ending june 30, 2020, artesian schools, inc. Operated southwest early college high school, a public charter high school in memphis, TN. The beginning of the fiscal year saw the high school increase in student population as well as demonstrated significant staff turnover with new leadership.

$1.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Christian Community Foundation of Memphis and the Mid-South INCFY2021$43K
Total grants receivedfrom 1 funder$43K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$12K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.3M
Managementcol C$501K
Owns and owesPt X
$538K
net assets · Ln 32
Cash and savingsLn 1–2$414K
Total assetsLn 16$727K
LiabilitiesLn 26$190K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$1.3M
Investment incomeLn 3$12K
Gains on assetsLn 7−$26K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$47K
SavingsLn 2$367K
Cash and savings togetherLn 1–2$414K
Other assetsLn 15$183K
Total assetsLn 16$727K
LiabilitiesLn 26$190K
Net assetsLn 32$538K
OperationsPt I, VI
EmployeesI 555
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$647K$414K
Total assetsLn 16$1.1M$727K
LiabilitiesLn 26$163K$190K
Net assetsLn 32$952K$538K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$127K$13K$115K
Other salaries and wagesLn 7$824K$574K$250K
Other employee benefitsLn 9$177K$129K$49K
Other fees for servicesLn 11g$483K$424K$59K
Depreciation, depletion and amortizationLn 22$11K$11K
Other expenses (24a–d)Ln 24$141K$112K$29K
Total functional expensesLn 25$1.8M$1.3M$501K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $1.3M$1.8M−$414K$538K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,349,163 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,635,762$1,360,817
I-9 Program service revenue$0
I-10 Investment incomePrior year $10,766−$13,585
I-11 Other revenuePrior year $13,497$1,931
I-12 Total revenuePrior year $2,660,025$1,349,163
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,539,911$1,128,653
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $653,235$634,461
I-18 Total expensesPrior year $2,193,146$1,763,114
I-19 Revenue less expensesPrior year $466,879−$413,951
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,349,163 across 7 lines filed
VIII-1e Government grants$1,346,642
VIII-1f All other contributions, gifts and grants$14,175
VIII-1h Total contributions, gifts and grants$1,360,817
VIII-3 Investment incomeExcluded from tax $12,183$12,183
VIII-7 Net gain or loss on sales of assetsRelated to mission −$25,768−$25,768
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,931$1,931
VIII-12 Total revenueRelated to mission −$23,837 · Excluded from tax $12,183$1,349,163
Part IX · Statement of functional expenses $1,763,114 across 6 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $12,745 · Management $114,704$127,449
IX-7 Other salaries and wagesPrograms $573,670 · Management $250,079$823,749
IX-9 Other employee benefitsPrograms $128,907 · Management $48,548$177,455
IX-11g Other fees for servicesPrograms $423,752 · Management $59,486$483,238
IX-22 Depreciation, depletion and amortizationPrograms $10,711$10,711
IX-24 Other expenses (24a–d)Programs $111,894 · Management $28,618$140,512
IX-25 Total functional expensesPrograms $1,261,679 · Management $501,435 · Fundraising $0$1,763,114
Part X · Balance sheet $727,474 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $130,540$46,556
X-2 Savings and temporary cash investmentsStart of year $516,574$367,335
X-4 Accounts receivable$6,435
X-9 Prepaid expenses and deferred chargesStart of year $160,631$124,242
X-15 Other assetsStart of year $68,180$182,906
X-16 Total assetsStart of year $1,114,813$727,474
X-17 Accounts payable and accrued expensesStart of year $84,612$45,264
X-19 Deferred revenueStart of year $78,604$144,564
X-26 Total liabilitiesStart of year $163,216$189,828
X-27 Net assets without donor restrictionsStart of year $951,597$505,184
X-28 Net assets with donor restrictions$32,462
X-32 Total net assets or fund balancesStart of year $951,597$537,646
X-33 Total liabilities and net assetsStart of year $1,114,813$727,474
Part XI · Reconciliation of net assets $537,646 net assets at year end
XI-1 Total revenue$1,349,163
XI-2 Total expenses$1,763,114
XI-3 Revenue less expenses−$413,951
XI-4 Net assets at start of year$951,597
XI-10 Net assets at end of year$537,646

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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