Memphis Rise Academy

Legal name: Memphis Rise Academy Inc

Nonprofit profile at a glance

EIN
461614425
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2013
Location
Memphis, TN, US
Phone
901-379-5750
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$11,163,455
Expenses
$11,404,684
Assets
$15,977,073
Liabilities
$12,010,952

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

Leadership & pay

7 people listed

Executive titles in this filing

  • GUS CONNELLY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • GUS CONNELLY (EXECUTIVE DIRECTOR): $139,033 total reported compensation

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

Overview

Mission

To provide all students with an education which will prepare them to be successful in the nation's most competitive colleges and universities. We are designed to serve any student who has a determination to rise to meet and exceed his or her most ambitious goals through the attainment of an excellent education.

What it reported doing in 2024

Memphis rise academy is approved as a public charter school offering an alternative means within the public school system for accomplishing necessary outcomes of education. During the current year the school had an average of 749 students.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.1%; rating input score 78
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.2%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.4; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 19.6% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 15.9% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site
  • Where the money goes: 78.1% of revenue deployed · 76.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.7M in reported program spending
  • Leadership: top reported pay $139K · 7 people listed
  • Highest-paid contractors: 2 contractors listed · $936K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 23/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.