Civic Intelligence

Merit Academy

990 • Fiscal year 2015 • EIN 26-4198236

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

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

73rd percentile

0.06x

Higher debt load relative to assets than 73% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

68th percentile

0.02x

Higher debt load relative to revenue than 68% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

75th percentile

19%

Higher net margin than 75% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

90th percentile

$41,676

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 11.5% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

85th percentile

57%

Faster asset growth than 85% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

27th percentile

-16%

Faster revenue growth than 27% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$123,280

Up $44,851 (+57%) from 2014

Net Assets

Up

$116,341

Up $67,523 (+138%) from 2014

Liabilities

Down

$6,939

Down $22,672 (-77%) from 2014

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin75th percentile

Revenue

Down

$362,468

Down $68,446 (-16%) from 2014

Expenses

Down

$294,945

Down $173,732 (-37%) from 2014

Net Income

Up

$67,523

Up $105,286 (+279%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

2015

Assets$123,280
Liabilities$6,939
Net Assets$116,341
Open 2015 Filing

Operations Trend

Revenue Growth27th percentile

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

2015

Revenue$362,468
Expenses$294,945
Net Income$67,523
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$365,698
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
Cash and Non-Interest-Bearing Accounts$6,577$107,614▲ $101,037
Accounts Receivable$50,070--
Land, Buildings, and Equipment, Net$14,920$8,804▼ $6,116
Receivables From Officers Etc$6,798$6,862▲ $64
Other Notes and Loans Receivable, Net$64--
Total Assets$78,429$123,280▲ $44,851
Liabilities
Other Liabilities$22,672$0▼ $22,672
Unsecured Notes Loans Payable$6,939$6,939→ $0
Total Liabilities$29,611$6,939▼ $22,672
Net Assets / Fund Balance
Unrestricted Net Assets$48,818$116,341▲ $67,523
Total Net Assets Fund Balance$48,818$116,341▲ $67,523
Total Liabilities and Net Assets / Fund Balance$78,429$123,280▲ $44,851

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,623$10,614$18,237
Equipment$1,181$4,922$6,103
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Charity PurcellPresidentFT$41,676$41,676
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$356,632
Investment Income
$0
Other Revenue
$5,836
Change in Net Assets
$67,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$151,053
Other Expenses$143,892
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$95,502--$95,502
Occupancy$52,375--$52,375
Payroll Taxes$30,971--$30,971
Other Employee Benefits$24,580--$24,580
Depreciation Depletion$6,116--$6,116
Other Expenses$5,795--$5,795
Office Expenses$4,093--$4,093
Fees for Services Accounting$1,926--$1,926
All Other Expenses$1,736--$1,736
Fees for Services Other$443--$443
Advertising$419--$419
Travel$294--$294
Insurance$153--$153
Total Functional Expenses$294,945$0$0$294,945
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,795
Fundraising Direct Expenses$3,230
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$6,798$6,862▲ $64
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charity Purcell
Formed
2009
Legal Domicile
TX
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Shawn Wiemer CPA PC
Address
2700 Tibbets Dr Ste 210, Bedford, TX 76022
Preparer
Shawn Wiemer CPA
Phone
8176849964
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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)
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
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IRS990/USAddress/CityNm0Farmers Branch
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075234
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0MeritAcademyTX.Org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Charity Purcell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02147368375
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-15
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/ReturnTs02016-11-15T16:21:29-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$123,280
Liabilities
$6,939
Net assets
$116,341
Revenue
$362,468
Expenses
$294,945
Net income
$67,523
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