Civic Intelligence

Merit Academy

990 • Fiscal year 2020 • EIN 26-4198236

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileMeritAcademyTX.org
2825 Valley View Ln STE 100Dallas, TX 75234

(214) 736-8375

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.24x

Higher debt load relative to assets than 72% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

1.77x

Higher debt load relative to revenue than 93% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

21st percentile

-13%

Higher net margin than 21% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

96th percentile

260%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

41%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$652,294

Up $471,284 (+260%) from 2019

Net Assets

Up

$497,518

Up $316,508 (+175%) from 2019

Liabilities

Up

$154,776

Up $154,776 from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin21st percentile

Revenue

Up

$87,640

Up $25,571 (+41%) from 2019

Expenses

Up

$98,892

Up $49,577 (+101%) from 2019

Net Income

Down

-$11,252

Down $24,006 (-188%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th 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

2020

Assets$652,294
Liabilities$154,776
Net Assets$497,518
Open 2020 Filing

Operations Trend

Revenue Growth84th 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

2020

Revenue$87,640
Expenses$98,892
Net Income-$11,252
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$87,640
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$280,605$256,210▼ $24,395
Cash and Non-Interest-Bearing Accounts$3,425$227,688▲ $224,263
Savings and Temporary Cash Investments$110,359--
Land, Buildings, and Equipment, Net$114,381$24,731▼ $89,650
Total Assets$508,770$652,294▲ $143,524
Other Assets Total-$143,665-
Liabilities
Other Liabilities-$153,851-
Accounts Payable and Accrued Expenses-$925-
Total Liabilities$0$154,776▲ $154,776
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$508,770$497,518▼ $11,252
Total Net Assets Fund Balance$508,770$497,518▼ $11,252
Total Liabilities and Net Assets / Fund Balance$508,770$652,294▲ $143,524

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$18,933-$18,933
Leasehold Improvements$5,149$8,144$13,293
Equipment$649$5,141$5,790
Other Assets Org$131,803--
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Charity PurcellPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$17,274
Program Service Revenue
$9,072
Investment Income
$0
Other Revenue
$61,294
All Other Contributions
$2,200
Change in Net Assets
$-11,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,686
Salaries, Compensation, and Employee Benefits$10,206
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$70,351--$70,351
Fees for Services Accounting$12,361--$12,361
Other Salaries and Wages$7,919--$7,919
Other Expenses$3,272--$3,272
Payroll Taxes$2,287--$2,287
Insurance$2,091--$2,091
Advertising$500--$500
Travel$75--$75
All Other Expenses$36--$36
Total Functional Expenses$98,892$0$0$98,892
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Barney LipscombInvestorLoanNo-
Charity PurcellKey EmployeeLoanNo-
Charity PurcellKey EmployeeLoanNo-
Thrive TherapySister organazationno clueNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term$119,838
Payroll Taxes$30,369
Amex$6,753
Home Depot$-1,258
Adjustment$-1,851
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 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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

Members or stockholder classes and rights Part VI line 6

“Form 990, Part VI, Section A Line 6: Merit Academy has only one stockholder: Charity Purcell with one class of stock.”

Member election for additional members Part VI line 7A

“Form 990 Part VI, Section A line 7a:The sole member has the authority to elect additional members”

Form 990 governing body review Part VI line 11

“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.”

Conflict of interest policy compliance Part VI line 12C

“Form 990, Part VI, Section B, Line 12c:Conflict of interest policy and compliance of conflict of interest policy is reviewed annually.”

CEO executive director top management comp Part VI line 15A

“Form 990, Part VI, Section B, Line 15:Executive Director and top manangement compensation is based on industry average and approved by the board”

Other officer or key employee compensation Part VI line 15B

“Officer Compensation determined by hours spent actively operating organization and experience level or knowledge”

Governing documents etc available to public Part VI line 19

“Form 990, Part VI, Section C, Line 19:Governing documents, conflict of interest policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Merit Academy
EIN
26-4198236
Address
2825 Valley View Ln STE 100, Dallas, TX 75234

Signing Officer

Name
Charity Decosta
Title
President
Phone
2147368375
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
TX
Voting Board Members
1
Independent Board Members
1
Employees
9

Preparer

Firm
C & A Associates Inc
Address
2121 W Airport Frwy Suite 101, Irving, TX 75062
Preparer
Shiloh Jorden
Phone
9725141424
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990, Part VI, Section A Line 6: Merit Academy has only one stockholder: Charity Purcell with one class of stock.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 Part VI, Section A line 7a:The sole member has the authority to elect additional members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990, Part VI, Section B, Line 12c:Conflict of interest policy and compliance of conflict of interest policy is reviewed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990, Part VI, Section B, Line 15:Executive Director and top manangement compensation is based on industry average and approved by the board
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Officer Compensation determined by hours spent actively operating organization and experience level or knowledge
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Form 990, Part VI, Section C, Line 19:Governing documents, conflict of interest policies and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
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IRS990/WebsiteAddressTxt0MeritAcademyTX.org
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Charity Decosta
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02147368375
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Merit Academy
ReturnHeader/Filer/BusinessNameControlTxt0MERI
ReturnHeader/Filer/EIN0264198236
ReturnHeader/Filer/USAddress/AddressLine1Txt02825 Valley View Ln STE 100
ReturnHeader/Filer/USAddress/CityNm0Dallas
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075234
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0300702567
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0C & A Associates Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02121 W Airport Frwy Suite 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Irving
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075062
ReturnHeader/PreparerPersonGrp/PhoneNum09725141424
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shiloh Jorden
ReturnHeader/ReturnTs02021-11-15T17:00:27-05:00
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ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$652,294
Liabilities
$154,776
Net assets
$497,518
Revenue
$87,640
Expenses
$98,892
Net income
-$11,252
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