MEMPHIS-AREA HOME EDUCATION ASSOCIATION INC (EIN 621763611) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

Wayne Addison

Phone

9017534705

Tax Period

2023-07-01 to 2024-06-30

MEMPHIS-AREA HOME EDUCATION ASSOCIATION INC, founded in 1984, is a small nonprofit in the Education sector that reported $310K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $290K left a modest 6% surplus.

Mission

Serves homeschool families by providing events and support groups, encouragement & assistance; advancing the cause of home education in the Mid-South area

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $46,104

Program Service Revenue $263,518

Investment Income $0

Other Revenue $0

TOTAL REVENUE $309,622

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,177

Fundraising Expenses $0

Program Expenses $244,703

Other Expenses $274,845

TOTAL EXPENSES $290,022

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,622	$268,111	+0.2%
Expenses	$290,022	$258,635	+0.1%
Net Income	$19,600	$9,476	+1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

$14,087

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sherry Shaffer	Office Manager	15	Key Emp	$9,472	$0	$9,472
Michelle Griffith	Communications	6	Key Emp	$4,615	$0	$4,615
Adrian Wiggins	Athletic Director - non-basketball	10	Officer	$0	$0	$0
Wayne Addison	President	5	Officer	$0	$0	$0
Kathy Armstrong	Vice President	5	Officer	$0	$0	$0
Rhonda Evans	Technology	8	Officer	$0	$0	$0
Jamie Cunningham	Secretary	5	Officer	$0	$0	$0
Donna Marsh	Treasurer	5	Officer	$0	$0	$0
John Eubanks	Athletic Director-basketball	10	Officer	$0	$0	$0
Susan Tyree	Activities Board Member	8	Officer	$0	$0	$0
Kris Soler	Enrichment Activities	5	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$309,622	$290,022	$152,810	$19,600
2023	$268,111	$258,635	$136,658	$9,476
2022	$233,130	$210,633	$120,417	$22,497
2021	$171,254	$166,274	$108,901	$4,980

MEMPHIS-AREA HOME EDUCATION ASSOCIATION INC