Merrick Inc

Analysis

Merrick Inc is a registered charity in United States, based in Vadnais HTS, MN. It received its IRS tax-exemption ruling in June 1973, 53 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Merrick Inc reported income of $12.3m and spending of $11.6m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.0m to $12.3m (+36%), an average of +8.0% a year. The sharpest change came in the year to June 2021, when income rose by 37%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Merrick Inc sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Corporation for Public Management ($12.3m), Association for Iron and Steel Technology ($12.3m) and East Central Kansas Economic Opportunity Corp ($12.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.3% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $186k (1.6% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $11.1m against liabilities of $2.5m, net assets of $8.5m. It reported 450 employees.