Merit America

“The controller reviews the 990 and compares to the general ledger of the organization to ensure data integrity. The 990 is reconciled to the financial statements, 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. The controller performs a final review of all questions to ensure that the appropriate answers have been provided. If edits are needed, the controller requests from the audit tax team. Once the 990 is complete with no errors, the controller shares with the cfo and subsequently to 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 full board of directors prior to filing with the internal revenue service (irs). Once approved by all members of the board, the controller notifies the audit tax team that the 990 is ready to be filed with the irs.”

“Merit america includes a conflict of interest policy and a confidentiality 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. The organization also sends conflict of interest and confidentiality policies to the board of directors annually to read and sign.”

“The organization uses multiple third-party salary surveys as well as consultants to research salary ranges in the nonprofit industry for comparable organizations and comparable job responsibilities. The co-ceos meet with the board of directors to discuss and approve all executive compensation, which is set using the same methodology as the rest of the staff. The co-ceos recuse themselves from the meeting prior to their salaries being discussed and approved. All approved compensation amounts are included in the annual budget which is approved by the board of directors.”

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

“Bad debt expense -28,348.”

“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 and an independent accountant in 2020. A controller for the organization was hired in march 2021. This position is responsible for all financial statements for the organization and is responsible for working with the auditors throughout the year in preparation of and for the completion of the financial audit and form 990. A chief executive officer was hired in 2023 as part of the finance team and is responsible for reviewing and approving the financial statements each month.”