Merit Preparatory Academy

Analysis

Merit Preparatory Academy is a registered charity in United States, based in Ogden, UT. It received its IRS tax-exemption ruling in November 2009, 17 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, Merit Preparatory Academy reported income of $5.8m and spending of $5.3m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.7m to $5.8m (+23%), an average of +5.3% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Merit Preparatory Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within UT. Charities of a similar size with the same main cause include Allan Hancock College Auxiliary Programs Corporation ($5.8m), Council of Graduate Schools ($5.8m) and Lincoln Park Academy Inc ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $182k (3.4% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $13.6m against liabilities of $13.1m, net assets of $578k. It reported 90 employees.