Memphis-area Home Education Association Inc

Nonprofit profile at a glance

EIN
621763611
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Cordova, TN, USA
Phone
9017534705
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education

Reported finances

Revenue
$345,208
Expenses
$347,621
Assets
$179,133
Liabilities
$67,646

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Wayne Addison (President)
  • Kathy Armstrong (Vice President)

Highest reported compensation

  • Sherry Shaffer (Office Manager): $9,640 total reported compensation
  • Michelle Griffith (Communications): $4,695 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Serves homeschool families by providing supports, encouragement & assistance; advancing the cause of home education in the Mid-South Area

What it reported doing in 2024

CODE 611710 MHEA High School Graduation & Gala - provides the opportunity for area homeschool students to participate in a high school graduation ceremony, including the awarding of college scholarships to elected outstanding students and a Gala celebration to honor seniors

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88%; rating input score 88
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.7%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 18.5% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 16% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 88% of revenue deployed · 87.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $304K in reported program spending
  • Leadership: top reported pay $10K · 11 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.