Meritan Inc

Analysis

Meritan Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Meritan Inc reported income of $17.5m and spending of $15.1m, spending 86% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $13.6m to $17.5m (+29%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 31%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Meritan Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include Wabash Center Inc ($17.5m), Walden Environment ($17.6m) and Southeastern Vermont Community Action Inc ($17.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $139k (0.9% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $4.6m against liabilities of $5.1m, net assets of -$439k. It reported 253 employees.