National Merit Scholarship Corporation

Analysis

National Merit Scholarship Corporation is a registered charity in United States, based in Evanston, IL. It received its IRS tax-exemption ruling in January 1957, 69 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, National Merit Scholarship Corporation reported income of $39.1m and spending of $46.2m, spending 118% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income fell from $44.0m to $39.1m (-11%), an average of -2.9% a year. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, National Merit Scholarship Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Lakewood Chedar School ($39.1m), Wilson College ($39.1m) and Marian University Inc ($39.1m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 80% and program service revenue 8.3% of the total. Compensation of current officers, directors and key employees was $793k (1.7% of expenses). Other salaries and wages came to $2.3m. It paid $491k in professional fundraising fees. At year end it held assets of $159.7m against liabilities of $8.4m, net assets of $151.2m. It reported 36 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.