Merit Academy

Analysis

Merit Academy is a registered charity in United States, based in Woodland Park, CO. It received its IRS tax-exemption ruling in December 2020, 6 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 Academy reported income of $4.4m and spending of $5.8m, spending 131% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $2.7m to $4.4m (+61%), an average of +61% a year. The sharpest change came in the year to June 2023, when income rose by 61%. Over the whole period it spent 117% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Merit Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CO. Charities of a similar size with the same main cause include Ucic School ($4.4m), Depaul College Prep Foundation ($4.4m) and Resolve Philadelphia Inc ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $84k (1.5% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $4.3m against liabilities of $5.6m, net assets of -$1.3m. It reported 84 employees.