Civic Intelligence

Merit Academy

990 • Fiscal year 2014 • EIN 26-4198236

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 15, 2015

Organization ProfileMeritAcademyTX.Org
2825 Valley View Ln No 100Farmers Branch, TX 75234

(214) 736-8375

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.38x

Higher debt load relative to assets than 87% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

78th percentile

0.07x

Higher debt load relative to revenue than 78% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

24th percentile

-8.8%

Higher net margin than 24% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

98th percentile

$90,747

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 21.1% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets87th percentile

Assets

$78,429

No earlier filing loaded for comparison.

Net Assets

$48,818

No earlier filing loaded for comparison.

Liabilities

$29,611

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin24th percentile

Revenue

$430,914

No earlier filing loaded for comparison.

Expenses

$468,677

No earlier filing loaded for comparison.

Net Income

-$37,763

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2014: $78,429Liabilities 2014: $29,611Net Assets 2014: $48,8182014Assets 2015: $123,280Liabilities 2015: $6,939Net Assets 2015: $116,3412015Assets 2016: $203,266Liabilities 2016: $34,939Net Assets 2016: $168,3272016Assets 2017: $243,396Liabilities 2017: $35,445Net Assets 2017: $207,9512017Assets 2018: $408,092Liabilities 2018: $239,836Net Assets 2018: $168,2562018Assets 2019: $181,010Liabilities 2019: $0Net Assets 2019: $181,0102019Assets 2020: $652,294Liabilities 2020: $154,776Net Assets 2020: $497,5182020Assets 2021: $381,991Liabilities 2021: $150,207Net Assets 2021: $231,7842021

Highlighted filing

2014

Assets$78,429
Liabilities$29,611
Net Assets$48,818
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $430,914Expenses 2014: $468,677Net Income 2014: -$37,7632014Revenue 2015: $362,468Expenses 2015: $294,945Net Income 2015: $67,5232015Revenue 2016: $542,401Expenses 2016: $451,082Net Income 2016: $91,3192016Revenue 2017: $281,654Expenses 2017: $242,028Net Income 2017: $39,6262017Revenue 2018: $123,000Expenses 2018: $162,501Net Income 2018: -$39,5012018Revenue 2019: $62,069Expenses 2019: $49,315Net Income 2019: $12,7542019Revenue 2020: $87,640Expenses 2020: $98,892Net Income 2020: -$11,2522020Revenue 2021: $10,108Expenses 2021: $14,405Net Income 2021: -$4,2972021

Highlighted filing

2014

Revenue$430,914
Expenses$468,677
Net Income-$37,763
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 15, 2015
Return Version
2014v5.0
Gross Receipts
$431,928
Mission and Program Overview

Mission

Merit Academy is a school that offers K-12th grade to students who exhibit/diagnosed with social/emotional/conduct/learning differences a positive experience that nutures each students academic, emotional and social life.

To provide customized academic and behavioral plans for students with learning differences in a structured, nurturing school environment and empower parents with holistic training and support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$38,143$50,070▲ $11,927
Land, Buildings, and Equipment, Net$9,192$14,920▲ $5,728
Receivables From Officers Etc$11,798$6,798▼ $5,000
Cash and Non-Interest-Bearing Accounts$39,045$6,577▼ $32,468
Other Notes and Loans Receivable, Net$1,464$64▼ $1,400
Total Assets$99,642$78,429▼ $21,213
Liabilities
Other Liabilities$5,936$22,672▲ $16,736
Unsecured Notes Loans Payable$7,125$6,939▼ $186
Total Liabilities$13,061$29,611▲ $16,550
Net Assets / Fund Balance
Unrestricted Net Assets$86,581$48,818▼ $37,763
Total Net Assets Fund Balance$86,581$48,818▼ $37,763
Total Liabilities and Net Assets / Fund Balance$99,642$78,429▼ $21,213

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,920$9,420$24,340
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Charity PurcellPresidentFT$90,747$90,747

Board Members and Trustees

NameTitle
Marlene EvansSecretary
Diana EastonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,984
Program Service Revenue
$409,541
Investment Income
$0
Other Revenue
$13,389
All Other Contributions
$7,984
Change in Net Assets
$-37,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$258,362
Other Expenses$210,315
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$234,871--$234,871
Occupancy$54,399--$54,399
Payroll Taxes$23,491--$23,491
Fees for Services Other$5,756--$5,756
Depreciation Depletion$4,543--$4,543
Fees for Services Accounting$3,558--$3,558
All Other Expenses$1,589--$1,589
Office Expenses$1,087--$1,087
Other Expenses$1,020--$1,020
Advertising$928--$928
Insurance$476--$476
Information Technology$114--$114
Fees for Services Legal$5--$5
Total Functional Expenses$468,677$0$0$468,677
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,013
Fundraising Direct Expenses$1,014
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$11,798$6,798▼ $5,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll taxes$22,672
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“Merit Academy has only one stockholder: Charity Purcell with one class of stock”

Form 990, Part VI, Section A, line 7A

“The sole member has the authority to elect additional members.”

Form 990, Part VI, Section B, line 11

“Merit Academy's officers review the tax return prior to signing and filing with the Internal Revenue Service. The tax return is available to any member upon request.”

Form 990, Part VI, Section B, line 12C

“Conflict of interest policy and compliance of conflict of interest policy is reviewed annually.”

Form 990, Part VI, Section B, line 15

“Executive Director, and top management compensation is based on industry average and approved by the board.”

Form 990, Part VI, Section C, line 19

“Governing documents, conflict of interest policies, and financial statements are available upon request. (Page 6 Part VI line 19)”

Filing and Contact Details

Filer

Filer Name
Merit Academy
EIN
26-4198236
Phone
2147368375
Address
2825 Valley View Ln No 100, Farmers Branch, TX 75234

Signing Officer

Name
Charity Purcell
Title
President
Phone
2147368375
Signed
2015-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charity Purcell
Formed
2009
Legal Domicile
TX
Voting Board Members
0
Independent Board Members
2
Employees
7
Volunteers
10

Preparer

Firm
Shawn Wiemer CPA PC
Address
2700 Tibbets Dr Ste 210, Bedford, TX 76022
Preparer
Shawn Wiemer CPA
Phone
8176849964
Raw XML Appendix356 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0This statement is included on all documents and website: Merit Academy admits students of any race, color, national and ethnic origin to all the rights, priviledges, programs, and activities generally acccorded or made available to students at the school. It does not discriminate on the basis of race, color, national and ethnic origin in administration of its educational or admission policies, scholarships, loans, athletic, or any other program.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Merit Academy has only one stockholder: Charity Purcell with one class of stock
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The sole member has the authority to elect additional members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Merit Academy's officers review the tax return prior to signing and filing with the Internal Revenue Service. The tax return is available to any member upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Conflict of interest policy and compliance of conflict of interest policy is reviewed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Executive Director, and top management compensation is based on industry average and approved by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, conflict of interest policies, and financial statements are available upon request. (Page 6 Part VI line 19)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
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IRS990/TotalGrossUBIAmt0140
IRS990/TotalLiabilitiesBOYAmt013061
IRS990/TotalLiabilitiesEOYAmt029611
IRS990/TotalLiabilitiesGrp/BOYAmt013061
IRS990/TotalLiabilitiesGrp/EOYAmt029611
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt086581
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt048818
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0468677
IRS990/TotalProgramServiceRevenueAmt0409541
IRS990/TotalReportableCompFromOrgAmt090747
IRS990/TotalRevenueGrp/ExclusionAmt011999
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0410791
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0430914
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0140
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt099642
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt078429
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt086581
IRS990/UnrestrictedNetAssetsGrp/EOYAmt048818
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt07125
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt06939
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02825 Valley View Ln St 100
IRS990/USAddress/CityNm0Farmers Branch
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075234
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0MeritAcademyTX.Org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Charity Purcell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02147368375
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Merit Academy
ReturnHeader/Filer/BusinessNameControlTxt0MERI
ReturnHeader/Filer/EIN0264198236
ReturnHeader/Filer/PhoneNum02147368375
ReturnHeader/Filer/USAddress/AddressLine1Txt02825 Valley View Ln No 100
ReturnHeader/Filer/USAddress/CityNm0Farmers Branch
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075234
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0462858115
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Shawn Wiemer CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02700 Tibbets Dr Ste 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bedford
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076022
ReturnHeader/PreparerPersonGrp/PhoneNum08176849964
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shawn Wiemer CPA
ReturnHeader/ReturnTs02015-11-16T21:11:09-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$78,429
Liabilities
$29,611
Net assets
$48,818
Revenue
$430,914
Expenses
$468,677
Net income
-$37,763
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$3.82$1.50$2.32$0.10$0.14$0.04
2020Detailed filing. Detailed filing data is available for this year.$6.52$1.55$4.98$0.88$0.99$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.81$0.00$1.81$0.62$0.49$0.13
2018Detailed filing. Detailed filing data is available for this year.$4.08$2.40$1.68$1.23$1.63$0.40
2017Detailed filing. Detailed filing data is available for this year.$2.43$0.35$2.08$2.82$2.42$0.40
2016Detailed filing. Detailed filing data is available for this year.$2.03$0.35$1.68$5.42$4.51$0.91
2015Detailed filing. Detailed filing data is available for this year.$1.23$0.07$1.16$3.62$2.95$0.68
2014Detailed filing. Detailed filing data is available for this year.$0.78$0.30$0.49$4.31$4.69$0.38