Land Academy Elementary INC: Nonprofit Profile, Financials & Form 990 (EIN 92-3656650)

Revenue by fiscal year
FY2024	$64K
FY2025	$716K

Net assets by fiscal year
FY2024	−$79K
FY2025	$101K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2024.

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

Where the money goes

89 cents of each dollar spent went to programs.

89%

Program services 89% · $544K Management & general 11% · $70K

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

4 people listed on the 990; $63K paid to officers and key staff.

Part VII, Section A · reportable compensation

Leadrea Ratlif

Secretary

$30,119Pt VII · Sec A

E Shelton JR

Executive Dir

$12,804Pt VII · Sec A

Cynthia Reed

Board Member

$12,804Pt VII · Sec A

Elliot Shelton

CEO

$7,760Pt VII · Sec A

Leadrea Ratlif’s $30K as Secretary is at the 23rd percentile of top reported officer pay among 1613 $100K–1M 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.

See Land Academy Elementary INC executive salaries →

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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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Land Academy Elementary INC is an education nonprofit based in Memphis, TN.

Provided by the organization

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3 programs · $456K · in their own filed words · FY2025

01

The first major expense is salary and wages.

$340Kprogram expense

02

The second major expense is rent expense.

$78Kprogram expense

03

The third major expense is employee benefits.

$38Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$716K

Ln 12

Fees for servicesLn 2g$716K

Money outPt IX

$614K

Ln 25

Programscol B$544K

Managementcol C$70K

Owns and owesPt X

$101K

net assets · Ln 32

Cash and savingsLn 1–2$101K

Total assetsLn 16$101K

LiabilitiesLn 26$0

PeoplePt VI, VII

4

listed · VII A

PaidVII A4

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$716K

Total revenueLn 12$716K

Assets in detailPt X, end of year

CashLn 1$101K

Cash and savings togetherLn 1–2$101K

Total assetsLn 16$101K

LiabilitiesLn 26$0

Net assetsLn 32$101K

OperationsPt I, VI

EmployeesI 513

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$83K	$101K
Total assetsLn 16	$83K	$101K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$83K	$101K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$340K	$276K	$63K
Payroll taxesLn 10	$26K	$21K	$5K
Accounting feesLn 11c	$2K		$2K
Advertising and promotionLn 12	$500	$500
Information technologyLn 14	$3K	$3K
OccupancyLn 16	$78K	$78K
InsuranceLn 23	$38K	$38K
Other expenses (24a–d)Ln 24	$90K	$90K
All other expensesLn 24e	$38K	$38K
Total functional expensesLn 25	$614K	$544K	$70K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$716K	$614K	$101K	$101K	990 PDF
FY2024	$64K			−$79K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $715,767 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $364,078$715,767

I-10 Investment income$0

I-11 Other revenue$0

I-12 Total revenuePrior year $364,078$715,767

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $119,882$365,548

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $161,104$248,767

I-18 Total expensesPrior year $280,986$614,315

I-19 Revenue less expensesPrior year $83,092$101,452

Part VI · Governance 5 of 5 board members independent, 4 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $715,767 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $715,767$715,767

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $715,767$715,767

Part IX · Statement of functional expenses $614,315 across 9 lines filed

IX-7 Other salaries and wagesPrograms $276,084 · Management $63,487$339,571

IX-10 Payroll taxesPrograms $21,120 · Management $4,857$25,977

IX-11c Accounting feesManagement $1,500$1,500

IX-12 Advertising and promotionPrograms $500$500

IX-14 Information technologyPrograms $2,530$2,530

IX-16 OccupancyPrograms $78,357$78,357

IX-23 InsurancePrograms $38,394$38,394

IX-24 Other expenses (24a–d)Programs $89,689$89,689

IX-24e All other expensesPrograms $37,797$37,797

IX-25 Total functional expensesPrograms $544,471 · Management $69,844 · Fundraising $0$614,315

Part X · Balance sheet $101,451 assets, 5 lines filed

X-1 Cash, non-interest-bearingStart of year $83,092$101,451

X-16 Total assetsStart of year $83,092$101,451

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $83,092$101,451

X-33 Total liabilities and net assetsStart of year $83,092$101,451

Part XI · Reconciliation of net assets $101,451 net assets at year end

XI-1 Total revenue$715,767

XI-2 Total expenses$614,315

XI-3 Revenue less expenses$101,452

XI-4 Net assets at start of year$83,092

XI-10 Net assets at end of year$101,451

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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