Merit Incorporated FY2021 filing

Monterey, CAUnknown exempt organizationEIN 77-0500422Revenue $778K in FY2021

On file with the IRSPo Box 3234 · Monterey, CA

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Enterprise, research and training to strengthen and reclaim young lives.

61¢ of each $1 spent went to programs.
$88K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $77K a year · 17% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$88K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$62K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$778K
Spent
$559K
To programs
61%
Net assets
$252K
By yearFY2021–FY2024
Revenue
$778K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$778K
FY2022$404K
FY2023$136K
FY2024$6K
Expenses
$559K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$559K
FY2022$676K
FY2023$312K
FY2024Not on file
Net assets
$252K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$252K
FY2022−$19K
FY2023−$196K
FY2024−$210K

From the FY2021 Form 990 (year ending August 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $339K Management & general 39% · $221K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$87,694Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2022FY2021
Tom Gammon$114,571$87,694
Linda Devly$44,363—
Kathy Davi$27,363—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aNo

Programs and updates

Empowers young lives through enterprise, research, and training.

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Provided by the organization

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1 program · $339K · in their own filed words · FY2020
01

1-TO provide jobs to inmates to create work experience to enter the world after inprisonment. Employ and train young offenders in a maximum security institution to prepare surplus electronic equipment for WHOLESALE/RESALE, reuse, and RECYCLING.2- conducted evaluations of programs designed to strengthen the education of at-risk young…

$339Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$778K
Ln 12
Fees for servicesLn 2g$713K
Other incomeLn 4–11$65K
Investment incomeLn 3$10
Money outPt IX
$559K
Ln 25
Programscol B$339K
Managementcol C$221K
Owns and owesPt X
$252K
net assets · Ln 32
Cash and savingsLn 1–2$312K
Total assetsLn 16$314K
LiabilitiesLn 26$62K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$713K
Investment incomeLn 3$10
Other incomeLn 4–11$65K
Gains on assetsLn 7$0
Total revenueLn 12$778K
Assets in detailPt X, end of year
CashLn 1$312K
SavingsLn 2$0
Cash and savings togetherLn 1–2$312K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$0
Total assetsLn 16$314K
LiabilitiesLn 26$62K
Net assetsLn 32$252K
OperationsPt I, VI
EmployeesI 512
Fiscal year endsHeaderAugust
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
LineStart FY21End FY21
Cash and savingsLn 1–2$158K$312K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$2K$2K
Total assetsLn 16$161K$314K
LiabilitiesLn 26$128K$62K
Net assetsLn 32$34K$252K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$88K$88K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$252K$163K$89K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$35K$17K$18K
Management feesLn 11a$0
Legal feesLn 11b$3K$1K$1K
Accounting feesLn 11c$6K$6K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$92K$92K
Advertising and promotionLn 12$920$920
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$80$40$40
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$45K$34K$12K
All other expensesLn 24e$34K$21K$13K
Total functional expensesLn 25$559K$339K$221K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6K−$210K 990 PDF
FY2023 $136K$312K−$177K−$196K 990 PDF
FY2022 $404K$676K−$272K−$19K 990 PDF
FY2021 Viewing $778K$559K$219K$252K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $778,014 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $410,081$713,153
I-10 Investment incomePrior year $10$10
I-11 Other revenue$64,851
I-12 Total revenuePrior year $410,091$778,014
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $339,044$374,931
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $93,150$184,403
I-18 Total expensesPrior year $432,194$559,334
I-19 Revenue less expensesPrior year −$22,103$218,680
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $778,014 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $713,153$713,153
VIII-3 Investment incomeRelated to mission $10$10
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $64,851$64,851
VIII-12 Total revenueRelated to mission $713,163 · Excluded from tax $64,851$778,014
Part IX · Statement of functional expenses $559,334 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $87,694$87,694
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $163,300 · Management $88,783$252,083
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $16,895 · Management $18,259$35,154
IX-11a Management fees$0
IX-11b Legal feesPrograms $1,421 · Management $1,421$2,842
IX-11c Accounting feesPrograms $6,168$6,168
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $91,567$91,567
IX-12 Advertising and promotionPrograms $920$920
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $40 · Management $40$80
IX-23 InsurancePrograms $3,515$3,515
IX-24 Other expenses (24a–d)Programs $33,505 · Management $11,957$45,462
IX-24e All other expensesPrograms $21,266 · Management $12,583$33,849
IX-25 Total functional expensesPrograms $338,597 · Management $220,737 · Fundraising $0$559,334
Part X · Balance sheet $314,041 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $157,556$312,120
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $2,001$1,921
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $1,778$0
X-16 Total assetsStart of year $161,335$314,041
X-24 Unsecured notes and loans payableStart of year $120,251$55,400
X-25 Other liabilitiesStart of year $7,341$6,218
X-26 Total liabilitiesStart of year $127,592$61,618
X-27 Net assets without donor restrictionsStart of year $33,743$252,423
X-32 Total net assets or fund balancesStart of year $33,743$252,423
X-33 Total liabilities and net assetsStart of year $161,335$314,041
Part XI · Reconciliation of net assets $252,423 net assets at year end
XI-1 Total revenue$778,014
XI-2 Total expenses$559,334
XI-3 Revenue less expenses$218,680
XI-4 Net assets at start of year$33,743
XI-10 Net assets at end of year$252,423

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

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