Civic Intelligence

Merit Academy

990 • Fiscal year 2016 • EIN 26-4198236

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 14, 2019

Organization ProfileMeritAcademyTX.Org
2825 Valley View Lane Room 100Dallas, TX 75234

(214) 736-8375

Siviq Scores

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

Liabilities / Assets

68th percentile

0.17x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

58th percentile

0.06x

Higher debt load relative to revenue than 58% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

75th percentile

17%

Higher net margin than 75% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

74th percentile

$65,374

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 12.1% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

92nd percentile

65%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

87th percentile

50%

Faster revenue growth than 87% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$203,266

Up $79,986 (+65%) from 2015

Net Assets

Up

$168,327

Up $51,986 (+45%) from 2015

Liabilities

Up

$34,939

Up $28,000 (+404%) from 2015

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin75th percentile

Revenue

Up

$542,401

Up $179,933 (+50%) from 2015

Expenses

Up

$451,082

Up $156,137 (+53%) from 2015

Net Income

Up

$91,319

Up $23,796 (+35%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2016

Assets$203,266
Liabilities$34,939
Net Assets$168,327
Open 2016 Filing

Operations Trend

Revenue Growth87th 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

2016

Revenue$542,401
Expenses$451,082
Net Income$91,319
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 14, 2019
Return Version
2016v3.0
Gross Receipts
$542,401
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 behavorial 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
Land, Buildings, and Equipment, Net$8,804$143,087▲ $134,283
Cash and Non-Interest-Bearing Accounts$107,614$82,469▼ $25,145
Receivables From Officers Etc$6,862$11,862▲ $5,000
Loans From Officers Directors-$-925-
Accounts Receivable-$-34,152-
Total Assets$123,280$203,266▲ $79,986
Liabilities
Other Liabilities-$30,369-
Unsecured Notes Loans Payable$6,939--
Accounts Payable and Accrued Expenses-$5,495-
Total Liabilities$6,939$34,939▲ $28,000
Net Assets / Fund Balance
Unrestricted Net Assets$116,341$168,327▲ $51,986
Total Net Assets Fund Balance$116,341$168,327▲ $51,986
Total Liabilities and Net Assets / Fund Balance$123,280$203,266▲ $79,986

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$126,468$-2,575$129,043
Other Land Buildings$16,619$2,314$18,933
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Charity PurcellPresidentFT$65,374$65,374
Revenue and Support

Revenue Composition

Contributions and Grants
$43,257
Program Service Revenue
$389,230
Investment Income
$0
Other Revenue
$109,914
All Other Contributions
$1,533
Change in Net Assets
$91,319
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$270,071
Other Expenses$181,011
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$124,376
Occupancy---$82,441
Payroll Taxes---$66,179
Current Officers, Directors, Trustees, and Key Employees---$65,374
Office Expenses---$18,237
Other Employee Benefits---$14,142
All Other Expenses---$13,218
Fees for Services Legal---$2,703
Advertising---$2,556
Other Expenses---$1,856
Interest---$1,182
Insurance---$760
Travel---$720
Fees for Services Accounting---$238
Information Technology---$229
Total Functional Expenses$0$0$0$451,082
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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$6,862$11,862▲ $5,000
Loans from Officers, Directors, Trustees, and Key Employees-$-925-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$30,369
Payroll Taxes-
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 B, Line 11

“Merit Academys 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 A, Line 6

“Merit Academy has only one stockholderCharity Purcell with on class of stock”

Filing and Contact Details

Filer

Filer Name
Merit Academy
EIN
26-4198236
Phone
2147368375
Address
2825 Valley View Lane Room 100, Dallas, TX 75234

Signing Officer

Name
Charity Purcell
Title
President
Signed
2019-02-14
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
12

Preparer

Firm
BURNEY McCLELLAN & ASSOCIATES PC
Address
1415 E BELT LINE RD, CARROLLTON, TX 75006
Preparer
Ronald L Mcclellan
Phone
9724661234
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Merit Academy
ReturnHeader/Filer/BusinessNameControlTxt0MERI
ReturnHeader/Filer/EIN0264198236
ReturnHeader/Filer/PhoneNum02147368375
ReturnHeader/Filer/USAddress/AddressLine1Txt02825 Valley View Lane Room 100
ReturnHeader/Filer/USAddress/CityNm0Dallas
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075234
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C5955260835B5E5265E42730DD08BB9050D5D703
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D6E1B5A9F5D4BD17E29B1F493BDAAE554B084004
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.186.240.144
ReturnHeader/FilingSecurityInformation/IPDt02019-02-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm018:48:44
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURNEY McCLELLAN & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01415 E BELT LINE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARROLLTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075006
ReturnHeader/PreparerPersonGrp/PhoneNum09724661234
ReturnHeader/PreparerPersonGrp/PreparationDt02019-02-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD L MCCLELLAN
ReturnHeader/ReturnTs02019-02-14T12:49:10-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$203,266
Liabilities
$34,939
Net assets
$168,327
Revenue
$542,401
Expenses
$451,082
Net income
$91,319
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