New Meridian Corporation

Analysis

New Meridian Corporation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, New Meridian Corporation reported income of $24.6m and spending of $28.2m, spending 115% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $18.8m to $24.6m (+31%), an average of +9.4% a year. The sharpest change came in the year to June 2023, when income rose by 21%. 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, New Meridian Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include International Masonry Training and Education Foundation ($24.6m), Third Future Schools-Texas ($24.6m) and Hardy Williams Academy Charter School ($24.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $845k (3.0% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $17.6m against liabilities of $2.5m, net assets of $15.0m. It reported 92 employees.