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Nonprofit · EIN 94-3487601

READ FOUNDATION

Also known as MEMPHIS SCHOOL OF EXCELLENCE, Memphis School of Excellence

Tax-exempt · CORDOVA, TN 38018

Financials

$20.1M$19.5M2022$26.9M$21.5M2023$24.1M$23M2024
Revenue Expenses · by fiscal year end
Financials of READ FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$24,112,121$23,033,972$1,078,149$37,744,478$20,710,792$17,033,686
June 30, 2024990 (amended)$26,935,310$21,514,811$5,420,499$36,592,577$20,716,804$15,875,773
June 30, 2023990$20,141,897$19,484,677$657,220$32,096,467$21,641,193$10,455,274
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$1,522,150
of which government grants
$1,080,802
Program service revenue
$22,246,755
Investment income
$279,726
Other revenue
$63,490

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$213,805
Other salaries and wages
$13,150,933
Salaries, compensation and benefits (total)
$16,218,398
Professional fundraising fees
$0
Occupancy
$836,498
Travel
$224,838
Depreciation
$1,276,587
Program services (functional)
$15,922,980
Management and general (functional)
$7,110,992

Balance sheet and other

Total assets, start of year
$36,592,577
Total assets, end of year
$37,744,478
Total liabilities, end of year
$20,710,792
Net assets, end of year
$17,033,686
Land, buildings and equipment
$13,652,800
Publicly traded securities
$3,262,085
Net assets without donor restrictions
$15,294,243
Net assets with donor restrictions
$1,739,443
Gross receipts
$24,112,121
Employees
264
Volunteers
0
Year formed
2009
State of legal domicile
TN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
SAMUEL BEYHANEXECUTIVE DIRECTOR
Officer
40$119,797$32,141
MUGIRE AYCIASSISTANT EXECUTIVE DIRECTOR
Highest-paid employee
40$105,021$29,206
DR RICHARD E POTTSPRESIDENT
Trustee or director, Officer
2$0$0
PATTY FARMERTREASURY
Trustee or director, Officer
2$0$0
VEDA V T CHERRYVICE PRESIDENT
Trustee or director, Officer
2$0$0
DR ISMAIL FIDANSECRETARY / MEMBER
Trustee or director, Officer
2$0$0
DR DAVID AKDEMIRMEMBER
Trustee or director
2$0$0
DR CEM AKKUSMEMBER
Trustee or director
2$0$0
990 for the year ended June 30, 2024: 8 people
NameTitleHours / weekCompensationOther / benefits
SAMUEL BEYHANEXEC DIRECTOR
Officer
40$123,797$33,612
MUGIRE AYCIASST. EXEC DIRECTOR
Highest-paid employee
40$100,987$32,745
DR CEM AKKUSBOARD MEMBER
Trustee or director
2$0$0
DR DAVID C AKDEMIRBOARD MEMBER
Trustee or director
2$0$0
DR RICHARD E POTTSPRESIDENT
Trustee or director, Officer
2$0$0
VEDA V T CHERRYVICE-PRESIDENT
Trustee or director, Officer
2$0$0
DR ISMAIL FIDANSECRETARY
Trustee or director, Officer
2$0$0
PATTY FARMERTREASURER
Trustee or director, Officer
2$0$0
990 for the year ended June 30, 2023: 9 people
NameTitleHours / weekCompensationOther / benefits
SAMUEL BEYHANEXEC DIRECTOR
Officer
40$118,834$3,629
Mugire AyciAsst Director40$111,132$3,047
DR CEM AKKUSBOARD MEMBER
Trustee or director
2$0$0
DR DAVID C AKDEMIRBOARD MEMBER
Trustee or director
2$0$0
DR RICHARD E POTTSPresident
Trustee or director, Officer
2$0$0
VEDA V T CHERRYVice President
Trustee or director, Officer
2$0$0
DR ISMAIL FIDANSecretary
Trustee or director, Officer
2$0$0
PATTY FARMERTreasurer
Trustee or director, Officer
2$0$0
MUHAMMET TURKAYEXEC DIRECTOR-O
Officer
40$0$0

Address and contacts

Address (IRS master file)
8364 MACON RD, CORDOVA, TN 38018-8554
In care of
% SAMUEL BEYHAN
Mailing address (990-N for 2009)
4450 S Mendenhall Rd, STE 1, Memphis TN 38141
Principal officer (990 for 2024)
DR SAMUEL BEYHAN, 8364 MACON RD, CORDOVA, TN 38018
Principal officer (990-N for 2009)
Ali Gumus, 4450 S Mendenhall Rd, STE 1, Memphis TN 38141
Signed the 990
DR SAMUEL BEYHAN, EXECUTIVE DIRECTOR
Phone
(901) 590-2111
Return prepared by
HENDERSON HUTCHERSON & MCCULLOUGH PLLC

Mission

SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENTEACH STUDENT IS EMPOWERED TO SUCCEED IN COLLEGE AND CAREER BY:MASTERING A RIGOROUS, STEM-FOCUSED CURRICULUM,EXPERIENCING A SAFE, WELCOMING, AND INCLUSIVE ENVIRONMENT,RECEIVING INDIVIDUAL ACADEMIC, SOCIAL, AND EMOTIONAL SUPPORT,WORKING ALONGSIDE FAMILIES AND COMMUNITY PARTNERS.COLORS: BLUE, RED, WHITE | MASCOT: EAGLE | MOTTO: SOARING TO EXCELLENCES: SERVICE | O: OPPORTUNITY | A: ACHIEVEMENT | R: RESPONSIBILITY

990 for the year ended June 30, 2025

Program accomplishments

  • A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY.
    Expenses $15,922,980 · revenue $22,310,245

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
94-3487601
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2009
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B99)
Assets (IRS master file)
$37,744,478
Income (IRS master file)
$24,112,121

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$24,112,121$23,033,972$37,744,478IRS
990June 2024$26,935,310$21,514,811$36,592,577XML
990June 2023$20,141,897$19,484,677$32,096,467XML
990June 2022$16,018,216$14,112,435$29,882,886IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 2018–––IRS
990-N for 2009
Officer: Ali Gumus
June 30, 2010≤ $50,000 receipts––e-Postcard

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-3487601).

Questions about READ FOUNDATION

What is the EIN of READ FOUNDATION?
The employer identification number (EIN) of READ FOUNDATION is 94-3487601.
Is READ FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
Are donations to READ FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does READ FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of READ FOUNDATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did READ FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of READ FOUNDATION?
The 990 for the year ended June 30, 2025 names DR SAMUEL BEYHAN.
Who are the officers and directors of READ FOUNDATION?
The 990 for the year ended June 30, 2025 lists 8 people; 2 received compensation from the organization, the highest $119,797 (SAMUEL BEYHAN, EXECUTIVE DIRECTOR).
How much revenue does READ FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $24,112,121, expenses of $23,033,972 and total assets of $37,744,478 at year end.

Other nonprofits in CORDOVA

All nonprofits in CORDOVA · Tennessee · Education