Memphis Opportunity Scholarship Trust, Inc.
1000 Ridgeway Loop Rd., Suite 205
Memphis TN 38120
Contact Information
Address 1000 Ridgeway Loop Rd., Suite 205
Memphis, TN 38120
Telephone 901 842-5328
E-mail lmcquown@memphisscholarships.org
Mission Statement The mission of Memphis Opportunity Scholarship Trust (MOST) is to give Memphis-area families the opportunity to send their children to the schools of their choice. To fulfill its mission, MOST offers partial scholarships, beginning in the earliest years, for qualified families who wish to send their children to private schools.
Web and Social Media
Video
The MOST program awards scholarships to students beginning in prekindergarten.
Leadership
CEO/Executive Director Ms. Leanne McQuown
Board Chair Mr. Robert Solmson
Board Chair Company Affiliation Fairwood Capital, LLC
History and Background
Year of Incorporation 1998
Financial Summary
 
 
Projected Revenue $1,720,000.00
Projected Expenses $1,400,000.00
Statements
Mission The mission of Memphis Opportunity Scholarship Trust (MOST) is to give Memphis-area families the opportunity to send their children to the schools of their choice. To fulfill its mission, MOST offers partial scholarships, beginning in the earliest years, for qualified families who wish to send their children to private schools.
Background Memphis Opportunity Scholarship Trust (MOST) was founded in 1998 on the belief that all children deserve an equal chance at a great education — regardless of their ZIP codes or financial circumstances. MOST partners with 71 private schools in the Memphis area. Since its founding, MOST has awarded nearly $20 million in scholarships to 3,250 students in PK3 through grade 12.
Impact
For the 2018-19 school year, MOST is providing $998,121 in scholarships to 500 students in PK3 through grade 12 at 59 schools in Shelby County. The maximum annual award for students in PK3 through grade 8 is $2,100, and the max for high school students is $2,300. The scholarship amounts are based on the school's tuition and the family's income (using similar financial criteria to those of the Free and Reduced Lunch program in the public schools), up to the maximums. Once awarded, the MOST scholarship continues through eighth grade as long as the family remains financially eligible and is in good standing with the school. Students already receiving a MOST scholarship will be eligible to apply for a merit-based MOST High School Scholarship during the second semester of their eighth-grade year.
Needs All MOST funds go either to scholarships or to support administrative expenses, which were 28 percent of the 2016-17 budget. For the 2018-19 school year, MOST is providing $998,121 in scholarships to 500 students in PK3 through grade 12 at 59 schools in Shelby County. The average scholarship amount is $1,996. In 2018, MOST received pre-applications for 716 new students and was only able to fund 66. In addition, 20 siblings were added to the program, for a total of 86 new scholarship recipients. There were 414 returning students. With increased private and foundation support, we could offer dozens more scholarships. 
Areas of Service
Areas Served
Area
TN - Shelby County
TN - 38016
TN - 38122
TN - 38109
TN - 38115
TN - 38018
TN - 38116
TN - 38141
TN - 38134
TN - 38125
TN - 38127
Scholarships are limited to residents of Shelby County, Tennessee. For the 2017-18 school year, our scholarship recipients lived in 37 different ZIP codes. The 10 ZIP codes listed above have the highest number of MOST Scholars.
Board Chair
Board Chair Mr. Robert Solmson
Company Affiliation Fairwood Capital, LLC
Term Dec 2008 to June 2020
Email rsolmson@fairwoodcapital.com
Board of Directors
Board Members
NameAffiliation
Ms. Alexis S. Faber Head of Financial Lines, Willis Towers Watson
Mr. Scott C. Hennessy Retired CEO/chairman of True Temper Sports
The Rev. Colenzo Hubbard Executive Director, Emmanuel Center
Ms. Buzzy Hussey Retired, former owner of Babcock Gifts
Mr. E. Carl Krausnick, Jr. Senior Managing Director, Raymond James
Mr. Michael McDonnell Retired
Mr. Elkan Scheidt Community Volunteer
Ms. Jane G. Slatery Psychiatric Mental Health Clinical Nurse Specialist
Mr. Trent D. Williamson President, Harding Academy, Memphis
Board Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 0
Caucasian 9
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 7
Female 3
Governance
Board Term Lengths 3
Board Term Limits 0
Board Meeting Attendance % 60
Written Board Selection Criteria? No
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 4
Executive Director
Executive Director Ms. Leanne McQuown
Email lmcquown@memphisscholarships.org
Experience In September 2018, Leanne joined the staff as MOST's fourth executive director. She started at MOST after 14 years in development at the Orpheum Theatre Group. Previously, she worked at The Plaza Club and Memphis Cook Convention Center. She has a B.S. in business from Christian Brothers University.


Staff
Full Time Staff 2
Part Time Staff 1
Volunteers 0
Contractors 0
Plans
Organization has a Fundraising Plan? No
Organization has a Strategic Plan? Under Development
Years Strategic Plan Considers N/A
Management Succession Plan? No
Organization Policy and Procedures No
Nondiscrimination Policy Under Development
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
Programs
Description During the 2018-19 school year, MOST is providing $998,121 in scholarships to 500 students in PK3 through grade 12 at 59 schools in Memphis and Shelby County. The maximum scholarship for PK3 through grade 8 is $2,100 and $2,300 for high school students. Students begin in the MOST program in PK3 through grade 1, and acceptance is based on family income and availability of funds. MOST also provides scholarships for students with documented special needs that can be addressed at certain schools. Eighth-graders who wish to continue as a MOST High School Scholar must apply during the second semester, and grades and conduct are taken into consideration for acceptance.
Population Served K-12 (5-19 years)
Budget $998,000.00
Short Term Success
MOST Scholars have a 90-percent college matriculation rate. The other 10 percent often go to trade schools or enter the military.
Long Term Success Many MOST alumni go on to complete graduate degrees.
Fiscal Year
Fiscal Year Start July 01, 2018
Fiscal Year End June 30, 2019
Projected Revenue $1,720,000.00
Projected Expenses $1,400,000.00
Spending Policy N/A
Detailed Financials
Expense Allocation
Fiscal Year201620152014
Program Expense$1,178,713$982,294$892,149
Administration Expense$248,977$189,849$169,985
Fundraising Expense$80,550$74,345$66,885
Payments to Affiliates------
Total Revenue/Total Expenses0.721.170.60
Program Expense/Total Expenses78%79%79%
Fundraising Expense/Contributed Revenue7%5%10%
Assets and Liabilities
Fiscal Year201620152014
Total Assets$2,710,454$3,131,288$3,043,982
Current Assets$1,893,548$2,507,971$2,299,527
Long-Term Liabilities$0$0$0
Current Liabilities$2,764$4,752$3,534
Total Net Assets$2,707,690$3,126,536$3,040,448
Short Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities685.08527.77650.69
Long Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitations Permit
Solicitations Permit
TN solicitation letter for MOST 2018View
Address 1000 Ridgeway Loop Rd., Suite 205
Memphis, TN 38120
Primary Phone 901 842-5328
CEO/Executive Director Ms. Leanne McQuown
Board Chair Mr. Robert Solmson
Board Chair Company Affiliation Fairwood Capital, LLC

 

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