Merit Academy: Nonprofit Profile, Financials & Form 990 (EIN 26-4198236)

Revenue by fiscal year
FY2020	$88K
FY2021	$10K

Expenses by fiscal year
FY2020	$99K
FY2021	$14K

Net assets by fiscal year
FY2020	$498K
FY2021	$232K

Is it real?

No. The IRS revoked its tax exemption. Latest filing we have: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $14K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation

Charity Purcell

President

$0Pt VII · Sec A

See Merit Academy executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates K-12 students with social, emotional, or learning differences, nurturing their academic and personal growth.

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1 program · $14K · in their own filed words · FY2021

01

Tuition for students attending school. The attendance has grown every year since 2009.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-4198236) · Dispute this line

$14Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$10K

Ln 12

Gifts and grantsLn 1h$10K

Money outPt IX

$14K

Ln 25

Programscol B$14K

Owns and owesPt X

$232K

net assets · Ln 32

Cash and savingsLn 1–2$223K

Total assetsLn 16$382K

LiabilitiesLn 26$150K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$10K

Fundraising eventsLn 1c$506

Total revenueLn 12$10K

Assets in detailPt X, end of year

CashLn 1$223K

Cash and savings togetherLn 1–2$223K

Accounts receivableLn 4$15K

Other assetsLn 15$144K

Total assetsLn 16$382K

LiabilitiesLn 26$150K

Net assetsLn 32$232K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2		$223K
Total assetsLn 16	$0	$382K
LiabilitiesLn 26	$0	$150K
Net assetsLn 32	$0	$232K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$6K	$6K
Other fees for servicesLn 11g	$433	$433
Advertising and promotionLn 12	$50	$50
Office expensesLn 13	$2K	$2K
InsuranceLn 23	$854	$854
Other expenses (24a–d)Ln 24	$5K	$5K
All other expensesLn 24e	$40	$40
Total functional expensesLn 25	$14K	$14K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2021 Latest ViewingFiled with the IRS Oct 17, 2022	$10K	$14K	−$4K	$232K	990 PDF
FY2020Filed with the IRS Nov 15, 2021	$88K	$99K	−$11K	$498K	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2021 990

Part I · Summary $10,108 revenue, 12 lines filed

I-8 Contributions and grants$10,108

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenue$0

I-12 Total revenue$10,108

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expenses$14,405

I-18 Total expenses$14,405

I-19 Revenue less expenses−$4,297

Part VI · Governance 1 of 1 board members independent, no flags

VI-1a Voting members of the governing body1

VI-1b Independent voting members1

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $10,108 across 4 lines filed

VIII-1c Fundraising events$506

VIII-1f All other contributions, gifts and grants$9,602

VIII-1h Total contributions, gifts and grants$10,108

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$10,108

Part IX · Statement of functional expenses $14,405 across 7 lines filed

IX-11c Accounting feesPrograms $6,143$6,143

IX-11g Other fees for servicesPrograms $433$433

IX-12 Advertising and promotionPrograms $50$50

IX-13 Office expensesPrograms $1,500$1,500

IX-23 InsurancePrograms $854$854

IX-24 Other expenses (24a–d)Programs $5,385$5,385

IX-24e All other expensesPrograms $40$40

IX-25 Total functional expensesPrograms $14,405 · Management $0 · Fundraising $0$14,405

Part X · Balance sheet $381,991 assets, 9 lines filed

X-1 Cash, non-interest-bearing$223,391

X-4 Accounts receivable$14,975

X-15 Other assets$143,625

X-16 Total assetsStart of year $0$381,991

X-25 Other liabilities$150,207

X-26 Total liabilitiesStart of year $0$150,207

X-27 Net assets without donor restrictions$231,784

X-32 Total net assets or fund balancesStart of year $0$231,784

X-33 Total liabilities and net assetsStart of year $0$381,991

Part XI · Reconciliation of net assets $231,784 net assets at year end

XI-1 Total revenue$10,108

XI-2 Total expenses$14,405

XI-3 Revenue less expenses−$4,297

XI-8 Prior period adjustments$236,081

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$231,784

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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