Merrimack College

Analysis

Merrimack College is a registered charity in United States, based in North Andover, MA. It received its IRS tax-exemption ruling in March 1947, 79 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Merrimack College reported income of $291.2m and spending of $278.5m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $216.1m to $291.2m (+35%), an average of +7.7% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Merrimack College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Butler University ($290.6m), The Villages Charter School Inc ($292.9m) and Teachers College Columbia University ($290.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.5% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $4.0m (1.4% of expenses). Other salaries and wages came to $61.3m. At year end it held assets of $380.1m against liabilities of $192.0m, net assets of $188.1m. It reported 2,173 employees.