Civic Intelligence

Merit America

990 • Fiscal year 2020 • EIN 84-2108762

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

712 H Street NE Suite 1560Washington, DC 20002

(914) 310-3148

Siviq Scores

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

Liabilities / Assets

70th percentile

0.47x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.76x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

89th percentile

44%

Higher net margin than 89% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

60th percentile

$202,799

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

98th percentile

260%

Faster asset growth than 98% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

95th percentile

121%

Faster revenue growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$10,125,832

Up $7,314,583 (+260%) from 2019

Net Assets

Up

$5,416,443

Up $2,636,985 (+95%) from 2019

Liabilities

Up

$4,709,389

Up $4,677,598 (+14714%) from 2019

Revenue

Up

$6,184,968

Up $3,388,640 (+121%) from 2019

Expenses

Up

$3,457,983

Up $3,441,113 (+20398%) from 2019

Net Income

Down

$2,726,985

Down $52,473 (-1.9%) from 2019

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2019: $2,811,249Liabilities 2019: $31,791Net Assets 2019: $2,779,4582019Assets 2020: $10,125,832Liabilities 2020: $4,709,389Net Assets 2020: $5,416,4432020Assets 2021: $16,787,375Liabilities 2021: $8,930,041Net Assets 2021: $7,857,3342021Assets 2022: $23,949,600Liabilities 2022: $10,202,191Net Assets 2022: $13,747,4092022Assets 2023: $30,452,510Liabilities 2023: $9,709,381Net Assets 2023: $20,743,1292023Assets 2024: $43,053,154Liabilities 2024: $11,866,741Net Assets 2024: $31,186,4132024

Highlighted filing

2020

Assets$10,125,832
Liabilities$4,709,389
Net Assets$5,416,443

Operations Trend

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

$80M$60M$40M$20M$0Revenue 2019: $2,796,328Expenses 2019: $16,870Net Income 2019: $2,779,4582019Revenue 2020: $6,184,968Expenses 2020: $3,457,983Net Income 2020: $2,726,9852020Revenue 2021: $11,449,992Expenses 2021: $9,009,101Net Income 2021: $2,440,8912021Revenue 2022: $28,420,779Expenses 2022: $22,530,704Net Income 2022: $5,890,0752022Revenue 2023: $43,214,562Expenses 2023: $36,218,842Net Income 2023: $6,995,7202023Revenue 2024: $61,425,877Expenses 2024: $50,954,245Net Income 2024: $10,471,6322024

Highlighted filing

2020

Revenue$6,184,968
Expenses$3,457,983
Net Income$2,726,985
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$6,184,968
Mission and Program Overview

Mission

To provide a path to skilled careers for the millions of americans without college degrees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$755,866$7,743,042▲ $6,987,176
Pledges and Grants Receivable$2,022,303$1,743,902▼ $278,401
Accounts Receivable$540$462,159▲ $461,619
Other Notes and Loans Receivable, Net$0$136,248▲ $136,248
Prepaid Expenses and Deferred Charges$27,068$40,481▲ $13,413
Total Assets$2,811,249$10,125,832▲ $7,314,583
Other Assets Total$5,472$0▼ $5,472
Liabilities
Unsecured Notes Loans Payable$0$4,555,037▲ $4,555,037
Accounts Payable and Accrued Expenses$121,791$122,117▲ $326
Other Liabilities$0$32,235▲ $32,235
Total Liabilities$121,791$4,709,389▲ $4,587,598
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,528,782$4,173,538▲ $1,644,756
Net Assets Without Donor Restrictions$160,676$1,242,905▲ $1,082,229
Total Net Assets Fund Balance$2,689,458$5,416,443▲ $2,726,985
Total Liabilities and Net Assets / Fund Balance$2,811,249$10,125,832▲ $7,314,583
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Connor Diemand-yaumanCo-CEOFT$132,375$70,424$202,799
Rebecca Taber StaehelinCo-founder and Co-CEOFT$164,063$24,906$188,969
Mary Elgin-cossartChief Impact OfficerFT$145,289$12,036$157,325
Jumoke BalogunVice President of ProgramsFT$115,600$11,102$126,702
Ryan OuelletteRegional Program DirectorFT$101,500$10,832$112,332

Board Members and Trustees

NameTitle
Jack MarkellDirector
Stephanie CornellDirector/secretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,498,057
Program Service Revenue
$685,412
Investment Income
$1,499
Other Revenue
$0
All Other Contributions
$5,498,057
Change in Net Assets
$2,726,985

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,184,968
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$6,184,968
Total Revenue per Form 990
$6,184,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,469,004
Other Expenses$859,475
Total Fundraising Expense$218,737
Grants and Similar Amounts Paid$129,504
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,408,555$28,459$39,681$1,476,695
Current Officers, Directors, Trustees, and Key Employees$378,234$54,909$115,948$549,091
Other Employee Benefits$216,222$10,076$18,827$245,125
Fees for Services Other$202,825$5,123$9,565$217,513
Payroll Taxes$144,515$6,742$12,587$163,844
Office Expenses$133,653$7,047$11,811$152,511
Grants to Domestic Individuals$129,504--$129,504
Advertising$90,155--$90,155
Fees for Services Management$75,716$10,936-$86,652
Other Expenses$69,284--$69,284
Fees for Services Accounting-$63,759-$63,759
Information Technology$51,206--$51,206
Conferences and Meetings$37,906$1,768$3,302$42,976
Pension Plan Contributions$30,210$1,408$2,631$34,249
Occupancy$27,649$1,290$2,408$31,347
Travel$22,697$1,059$1,977$25,733
Insurance-$25,474-$25,474
Interest-$2,063-$2,063
Fees for Services Legal-$802-$802
Total Functional Expenses$3,018,331$220,915$218,737$3,457,983

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,457,983
Total Expenses per Audited Statements$3,457,983
Total Expenses per Form 990$3,457,983
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Brex$30,202
Interest Payable$2,033
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 11B

The controller reviews the 990 and compares to the general ledger of the organization to ensure data integrity. The 990 is reconciled to the general ledger of the organization, including the trial balance, the statement of financial position, and the statement of financial activities. Additionally, the 990 is reconciled to the audited financial statements to ensure data integrity and consistency. All questions on the 990 are reviewed to ensure that the appropriate answers have been provided. If edits are needed on the 990, the controller requests from the tax team. Once the 990 is complete with no errors, the controller shares with the finance committee. Once approved by the finance committee, the 990 is recommended to the board of directors. The 990 must be unanimously approved by the board of directors prior to filing with the internal revenue service (irs). Once approved by the board of directors, the controller will notify the tax team that the 990 is ready to be filed with the irs.

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

Merit america includes a conflict of interest policy in the employee handbook, which is given to all new employees to read. Employees are required to complete this task, which is managed by a workboard software that tracks the time and date completed.

Form 990, Part VI, Section B, Line 15

The organization uses a third-party salary survey to research salary ranges in the nonprofit industry. The co-ceos meet with the board of directors to discuss and approve all compensation. The co-ceo's recuse themselves from the meeting prior to their salaries being approved. All approved compensation amounts are included in the annual budget which must be approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Merit America
EIN
84-2108762
Phone
9143103148
Address
712 H STREET NE SUITE 1560, WASHINGTON, DC 20002

Signing Officer

Name
Rebecca Taber
Title
Co-founder and Co-CEO
Phone
9143103148
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Taber Staehelin
Formed
2019
Legal Domicile
Dc
Voting Board Members
4
Independent Board Members
2
Employees
35
Volunteers
2

Preparer

Firm
Moss Adams Llp
Address
21700 OXNARD ST STE 300, LOS ANGELES, CA 91367
Preparer
Lauren a Haverlock
Phone
8185771900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Merit america's finance committee is also the audit committee and assumes responsibility of the audit and periodic review of financial statements. This committee was involved in the decision to hire an outside audit firm for 2020. The committee was also involved in the hire of an independent accountant for 2020 since the controller position had not yet been hired.

Financial Statement Notes

PART X, LINE 2:

Merit america is a nonprofit district of columbia (d.c.) corporation and is exempt from income taxes under section 501(c)(3) of the internal revenue code ("irc") and under d.c. Code title 29, chapter 4, except to the extent of unrelated business taxable income as defined under irc sections 511 through 515. For the year ended december 31, 2020, no provision for unrelated business income taxes is required. The organization has no unrecognized tax benefits or liabilities as of december 31, 2020. The organization, under the provisions of financial accounting standards board ("fasb") accounting standards codification ("asc") topic 740, income taxes, had no uncertain tax positions requiring accrual as of december 31, 2020.

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IRS990/Desc0MISSION AND HISTORY:MERIT AMERICA RECEIVED ITS 501C3 DESIGNATION IN 2019 TO HELP IMPROVE AMERICANS' EDUCATION, CAREERS AND LIVES, WITH A FOCUS ON IMPROVING ECONOMIC MOBILITY IN AMERICA BY ADDRESSING THE SPECIFIC CHALLENGES FACING LOW-WAGE WORKERS. THE ORGANIZATION PROVIDES A SCALABLE, SUSTAINABLE SOLUTION TO HELP PREPARE THESE WORKERS FOR IN-DEMAND CAREERS BY COMBINING ONLINE LEARNING, INTENSIVE PROFESSIONAL COACHING, AND PEER SUPPORT. THE ORGANIZATION USES LABOR MARKET DATA AND EMPLOYER PARTNERSHIPS TO SELECT IN-DEMAND FIELDS WITH MEANINGFUL UPWARD MOBILITY, AND OFFERS LEARNING TRACKS IN THOSE FIELDS. DURING 2019, MERIT AMERICA PREPARED TO CONDUCT ALL OPERATIONS INDEPENDENT OF THE ORGANIZATION'S ORIGINAL FISCAL SPONSOR, AMERICA ACHIEVES. IN JANUARY 2020, MERIT AMERICA SPUN OUT FROM AMERICA ACHIEVES AND NO LONGER HAD A FISCAL SPONSOR. MERIT AMERICA EXPANDED ITS PROGRAMS TO PREPARE MORE AMERICANS FOR IN-DEMAND CAREERS, SECURED PARTNERSHIPS WITH MAJOR EMPLOYERS TO INTERVIEW AND HIRE PROGRAM GRADUATES, AND CONTINUED TO BUILD A TECH-ENABLED PLATFORM TO SUPPORT AND IMPROVE PROGRAMMING.DURING 2020, THE ORGANIZATION'S PROGRAMS SERVED GROUPS OF TALENTED, AMBITIOUS LOW-WAGE WORKERS. IN 2020, MERIT AMERICA MOVED ALL OF ITS PROGRAMS TO A FULLY VIRTUAL DELIVERY MODEL, AND LAUNCHED COHORTS REACHING OVER 300 INDIVIDUALS - MORE THAN DOUBLE THE PRIOR YEAR - WHILE BUILDING THE FOUNDATION TO REACH 10,000+ LEARNERS ANNUALLY WITHIN THE COMING YEARS. MEASUREMENT AND EVALUATION IS A CRITICAL COMPONENT OF MERIT AMERICA'S WORK AND ONE OF THE ORGANIZATION'S TOP PRIORITIES. THE ORGANIZATION USES MULTIPLE DATA SOURCES TO TRACK AND VERIFY IMPACT OVER TIME ON KEY MEASURES OF SHORT AND LONG-TERM ECONOMIC STABILITY, SUCH AS WAGE GAINS, GRADUATION RATES, AND MODULE PLACEMENT RATES. MERIT AMERICA RECEIVED SIGNIFICANT FUNDING FROM CORPORATIONS, COMPANIES, FOUNDATIONS, AND INDIVIDUALS, AS WELL AS SECURED IMPACT FINANCING TO HELP COVER UPFRONT COSTS NEEDED TO LAUNCH COHORTS AND UNLOCK LEARNER AND PLACEMENT REVENUE STREAMS.IT IS MERIT AMERICA'S GOAL TO BE THE SUSTAINABLE SOLUTION THAT BUILDS A NEW PATHWAY FOR HUNDREDS OF THOUSANDS OF LOW-INCOME FAMILIES TO MOVE INTO THE MIDDLE-CLASS AND BEYOND.
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IRS990/OccupancyGrp/FundraisingAmt02408
IRS990/OccupancyGrp/ManagementAndGeneralAmt01290
IRS990/OccupancyGrp/ProgramServicesAmt027649
IRS990/OccupancyGrp/TotalAmt031347
IRS990/OfficeExpensesGrp/FundraisingAmt011811
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07047
IRS990/OfficeExpensesGrp/ProgramServicesAmt0133653
IRS990/OfficeExpensesGrp/TotalAmt0152511
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05472
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt018827
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt010076
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0216222
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0245125
IRS990/OtherExpensesGrp/Desc0CURRICULUM FOR PROGRAMS
IRS990/OtherExpensesGrp/ProgramServicesAmt069284
IRS990/OtherExpensesGrp/TotalAmt069284
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt032235
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt039681
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt028459
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01408555
IRS990/OtherSalariesAndWagesGrp/TotalAmt01476695
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0136248
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt012587
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06742
IRS990/PayrollTaxesGrp/ProgramServicesAmt0144515
IRS990/PayrollTaxesGrp/TotalAmt0163844
IRS990/PensionPlanContributionsGrp/FundraisingAmt02631
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01408
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt030210
IRS990/PensionPlanContributionsGrp/TotalAmt034249
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02022303
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01743902
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027068
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt040481
IRS990/PrincipalOfficerNm0REBECCA TABER STAEHELIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION REPAYMENT/PLAC
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0685412
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0685412
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02706328
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt016870
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt02689458
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt016870
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02706328
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02726985
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0685412
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05498057
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02706328
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt08204385
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01499
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01499
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0685412
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0685412
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt06893515
IRS990ScheduleA/SubstantialContributorsTotAmt01310870
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05498057
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02706328
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08204385
IRS990ScheduleA/TotalSupportAmt08891296
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03457983
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030202
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12033
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BREX
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06184968
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MERIT AMERICA IS A NONPROFIT DISTRICT OF COLUMBIA (D.C.) CORPORATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND UNDER D.C. CODE TITLE 29, CHAPTER 4, EXCEPT TO THE EXTENT OF UNRELATED BUSINESS TAXABLE INCOME AS DEFINED UNDER IRC SECTIONS 511 THROUGH 515. FOR THE YEAR ENDED DECEMBER 31, 2020, NO PROVISION FOR UNRELATED BUSINESS INCOME TAXES IS REQUIRED. THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES AS OF DECEMBER 31, 2020. THE ORGANIZATION, UNDER THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL AS OF DECEMBER 31, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt03457983
IRS990ScheduleD/TotalLiabilityAmt032235
IRS990ScheduleD/TotalRevenuePerForm990Amt06184968
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06184968
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03457983
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0129504
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SUPPORT AND STIPENDS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0183
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE CHIEF BUSINESS OFFICER WORKS WITH THE CO-CEOS TO SELECT FUNDERS WITH INTEREST AND PASSION ABOUT MERIT AMERICA'S MISSION. THE GRANT APPLICATION INCLUDES A DETAILED BUDGET OF HOW THE FUNDS WILL BE SPENT. THE GRANT IS TRACKED ON A GRANT SCHEDULE SPREADSHEET AND MONITORED REGULARLY. ONCE THE GRANT FUNDS HAVE BEEN EITHER BEEN AWARDED OR RECEIVED, THE FINANCE TEAM BEGINS TRACKING THE REVENUE AND EXPENSES IN THE GENERAL LEDGER. THE FINANCE TEAM ALLOCATES COSTS TO THE GRANT IN ACCORDANCE WITH GRANT SPECIFICATIONS AND TERMS. THE GRANTS TEAM PAYS CLOSE ATTENTION TO REPORTING DATES AND WORKS WITH THE FINANCE TEAM TO SUBMIT ACCURATE AND TIMELY REPORTING OF GRANT SPENDING TO THE FUNDER.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd01
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0132375
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1164063
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2145289
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount060000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount27500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05738
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt14769
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt24536
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt04686
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt120137
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CONNOR DIEMAND-YAUMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1REBECCA TABER STAEHELIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MARY ELGIN-COSSART
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CO-CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CO-FOUNDER AND CO-CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2CHIEF IMPACT OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0202799
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1188969
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2157325
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt20
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0IN 2020, REBECCA TABER STAEHELIN WENT ON MATERNITY LEAVE AND CONNOR DIEMAND-YAUMAN RECEIVED A SIGNING BONUS. MARY ELGIN-COSSART RECEIVED A MERIT BONUS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 7
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CONTROLLER REVIEWS THE 990 AND COMPARES TO THE GENERAL LEDGER OF THE ORGANIZATION TO ENSURE DATA INTEGRITY. THE 990 IS RECONCILED TO THE GENERAL LEDGER OF THE ORGANIZATION, INCLUDING THE TRIAL BALANCE, THE STATEMENT OF FINANCIAL POSITION, AND THE STATEMENT OF FINANCIAL ACTIVITIES. ADDITIONALLY, THE 990 IS RECONCILED TO THE AUDITED FINANCIAL STATEMENTS TO ENSURE DATA INTEGRITY AND CONSISTENCY. ALL QUESTIONS ON THE 990 ARE REVIEWED TO ENSURE THAT THE APPROPRIATE ANSWERS HAVE BEEN PROVIDED. IF EDITS ARE NEEDED ON THE 990, THE CONTROLLER REQUESTS FROM THE TAX TEAM. ONCE THE 990 IS COMPLETE WITH NO ERRORS, THE CONTROLLER SHARES WITH THE FINANCE COMMITTEE. ONCE APPROVED BY THE FINANCE COMMITTEE, THE 990 IS RECOMMENDED TO THE BOARD OF DIRECTORS. THE 990 MUST BE UNANIMOUSLY APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE (IRS). ONCE APPROVED BY THE BOARD OF DIRECTORS, THE CONTROLLER WILL NOTIFY THE TAX TEAM THAT THE 990 IS READY TO BE FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MERIT AMERICA INCLUDES A CONFLICT OF INTEREST POLICY IN THE EMPLOYEE HANDBOOK, WHICH IS GIVEN TO ALL NEW EMPLOYEES TO READ. EMPLOYEES ARE REQUIRED TO COMPLETE THIS TASK, WHICH IS MANAGED BY A WORKBOARD SOFTWARE THAT TRACKS THE TIME AND DATE COMPLETED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION USES A THIRD-PARTY SALARY SURVEY TO RESEARCH SALARY RANGES IN THE NONPROFIT INDUSTRY. THE CO-CEOS MEET WITH THE BOARD OF DIRECTORS TO DISCUSS AND APPROVE ALL COMPENSATION. THE CO-CEO'S RECUSE THEMSELVES FROM THE MEETING PRIOR TO THEIR SALARIES BEING APPROVED. ALL APPROVED COMPENSATION AMOUNTS ARE INCLUDED IN THE ANNUAL BUDGET WHICH MUST BE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MERIT AMERICA'S FINANCE COMMITTEE IS ALSO THE AUDIT COMMITTEE AND ASSUMES RESPONSIBILITY OF THE AUDIT AND PERIODIC REVIEW OF FINANCIAL STATEMENTS. THIS COMMITTEE WAS INVOLVED IN THE DECISION TO HIRE AN OUTSIDE AUDIT FIRM FOR 2020. THE COMMITTEE WAS ALSO INVOLVED IN THE HIRE OF AN INDEPENDENT ACCOUNTANT FOR 2020 SINCE THE CONTROLLER POSITION HAD NOT YET BEEN HIRED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1DC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00

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