Civic Intelligence

Meritus College Fund

990 • Fiscal year 2017 • EIN 94-3257076

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

Organization Profilewww.meritusfund.org
PO Box 29024San Francisco, CA 94129

(415) 400-8650

Siviq Scores

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

Liabilities / Assets

24th percentile

0.01x

Higher debt load relative to assets than 24% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

25th percentile

0.02x

Higher debt load relative to revenue than 25% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

87th percentile

36%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

78th percentile

$125,036

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

80th percentile

20%

Faster asset growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

71%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$4,508,746

Up $742,531 (+20%) from 2016

Net Assets

Up

$4,475,015

Up $740,878 (+20%) from 2016

Liabilities

Up

$33,731

Up $1,653 (+5.2%) from 2016

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin87th percentile

Revenue

Up

$1,949,736

Up $807,701 (+71%) from 2016

Expenses

Down

$1,249,566

Down $204,441 (-14%) from 2016

Net Income

Up

$700,170

Up $1,012,142 (+324%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $2,605,817Liabilities 2011: $1,337,507Net Assets 2011: $1,268,3102011Assets 2012: $2,659,387Liabilities 2012: $1,169,751Net Assets 2012: $1,489,6362012Assets 2013: $2,908,318Liabilities 2013: $1,604,840Net Assets 2013: $1,303,4782013Assets 2014: $3,466,631Liabilities 2014: $1,774,096Net Assets 2014: $1,692,5352014Assets 2015: $3,769,527Liabilities 2015: $1,951,747Net Assets 2015: $1,817,7802015Assets 2016: $3,766,215Liabilities 2016: $32,078Net Assets 2016: $3,734,1372016Assets 2017: $4,508,746Liabilities 2017: $33,731Net Assets 2017: $4,475,0152017Assets 2018: $3,802,828Liabilities 2018: $2,772Net Assets 2018: $3,800,0562018

Highlighted filing

2017

Assets$4,508,746
Liabilities$33,731
Net Assets$4,475,015
Open 2017 Filing

Operations Trend

Revenue Growth90th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,616,199Expenses 2011: $871,891Net Income 2011: $744,3082011Revenue 2012: $1,051,056Expenses 2012: $1,004,536Net Income 2012: $46,5202012Revenue 2013: $740,880Expenses 2013: $923,537Net Income 2013: -$182,6572013Revenue 2014: $1,406,822Expenses 2014: $1,171,331Net Income 2014: $235,4912014Revenue 2015: $1,478,829Expenses 2015: $1,329,075Net Income 2015: $149,7542015Revenue 2016: $1,142,035Expenses 2016: $1,454,007Net Income 2016: -$311,9722016Revenue 2017: $1,949,736Expenses 2017: $1,249,566Net Income 2017: $700,1702017Revenue 2018: $1,444,875Expenses 2018: $1,970,875Net Income 2018: -$526,0002018

Highlighted filing

2017

Revenue$1,949,736
Expenses$1,249,566
Net Income$700,170
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$2,453,396
Mission and Program Overview

Mission

Meritus believes that higher education is a critical step in addressing income disparity for students of color, first generation students and those from low income backgrounds. Socio-economic circumstance should not limit them from fully engaging in this transformative opportunity. To this end, Meritus empowers San Francisco youth from low income backgrounds to succeed in college and prepare for opportunities post-graduation by providing scholarships, individualized coaching and career mentoring and development.

Meritus helps low-income youth with grit and ambition to complete a college degree and prepare for post-college success through a combination of scholarships, coaching and personal mentorship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,799,783$2,496,582▲ $696,799
Cash and Non-Interest-Bearing Accounts$1,030,912$953,569▼ $77,343
Pledges and Grants Receivable$935,017$770,669▼ $164,348
Prepaid Expenses and Deferred Charges-$283,121-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,766,215$4,508,746▲ $742,531
Other Assets Total$503$4,805▲ $4,302
Liabilities
Accounts Payable and Accrued Expenses$32,078$33,731▲ $1,653
Total Liabilities$32,078$33,731▲ $1,653
Net Assets / Fund Balance
Unrestricted Net Assets$2,803,202$3,544,080▲ $740,878
Temporarily Rstr Net Assets$930,935$930,935→ $0
Total Net Assets Fund Balance$3,734,137$4,475,015▲ $740,878
Total Liabilities and Net Assets / Fund Balance$3,766,215$4,508,746▲ $742,531
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diana WolfExecutive DirectorFT$117,085$7,951$125,036
Jenna ErviceDev. DirectorFT$98,325$6,658$104,983

Board Members and Trustees

NameTitle
Mary WolfeChairman
Abhay ParekhDirector
Alison Bowe DiessnerDirector
Deirdre HockettDirector
Janie RichardsonDirector
Kevin LowryDirector
Laura BermudezDirector
Luis ArellanoDirector
Madeline SinclairDirector
Mona ZhaoDirector
Sheila LarsenDirector
Wynn BurkettDirector
Jennifer SweeneySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,833,418
Program Service Revenue
$0
Investment Income
$116,318
Other Revenue
$0
All Other Contributions
$1,495,350
Change in Net Assets
$700,170

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded13$186,516Fair Market Value (FMV)
Total Noncash Contributions13$186,516-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$627,945
Grants and Similar Amounts Paid$448,020
Total Fundraising Expense$273,790
Other Expenses$153,401
Professional Fundraising Fees$20,200

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$448,020--$448,020
Other Salaries and Wages$251,868$13,152$146,958$411,978
Current Officers, Directors, Trustees, and Key Employees$78,280$4,087$45,675$128,042
Occupancy$28,610$5,722$11,444$45,776
Other Employee Benefits$27,790$5,717$11,333$44,840
Payroll Taxes$26,928$5,386$10,771$43,085
Fees for Services Accounting-$40,271-$40,271
Fees for Services Professional Fundraising--$20,200$20,200
All Other Expenses$3,193$3,279$5,811$12,283
Fees for Services Other$5,135$845$3,212$9,192
Travel$5,410$188$400$5,998
Insurance$2,628$1,965$962$5,555
Other Expenses$3,474$197$1,342$5,013
Office Expenses$1,811$397$534$2,742
Information Technology$1,610$322$644$2,576
Total Functional Expenses$893,661$82,115$273,790$1,249,566
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$58,401
Fundraising Gross Income$58,401
Professional Fundraising Fees$20,200

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Making College Count$396,469$58,401$15,566$42,835
Total Events$396,469$58,401$58,401-
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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, Line 11B: Form 990 Review Process

“The Board of Directors review the returns before filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The Board of Directors monitor and review conflicts of interests annually.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Executive Committee assesses the performance of the executive director and makes a recommendation to the Board of Directors regarding compensation which is based on comparable organizations. The Board of Directors then reviews and approves the compensation.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The Executive Director reviews and sets the compensation for the senior staff as part of the annual budgeting process”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Tax returns and exempt applications are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Meritus College Fund
EIN
94-3257076
Phone
4154008650
Address
PO Box 29024, San Francisco, CA 94129

Signing Officer

Name
Mary Wolfe
Title
Chairman
Signed
2018-05-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Mary Wolfe
Formed
1996
Legal Domicile
CA
Voting Board Members
13
Independent Board Members
13
Employees
12
Volunteers
120

Preparer

Firm
Fontanello Duffield & Otake LLP
Address
44 Montgomery Street Suite 1305, San Francisco, CA 94104
Preparer
Carol Duffield
Phone
4159830200
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IRS990/Desc02016-2017 outcomes:Overall outcomes:87% of Meritus Scholars earn college degrees versus just 23% of comparable low-income students nationally. Total number of students served: 246Scholarships raised for class of 2017: $960,000Total Scholars admitted in 2017: 60 Over 300 students appliedIncoming Scholars in 2017 graduated from 16 public and two parochial high schools in San Francisco and 3 public high schools in San Mateo CountyMeritus internship program saw a robust placement of Scholars: 90 52 Scholars gain experience through Meritus secured internship (21% increase) 38 Scholars acquired additional positions with the help of Meritus staff (111% increase).
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt14Dev. Director
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IRS990/InsuranceGrp/FundraisingAmt0962
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IRS990/MissionDesc0Meritus believes that higher education is a critical step in addressing income disparity for motivated and talented youth. Socio-economic circumstance should not limit them from fully engaging in this transformative opportunity. To this end, Meritus empowers low-income San Francisco youth who possess grit and ambition to succeed in college and prepare for opportunities post-graduation by providing scholarships, individualized coaching and career mentoring and development.
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt04805
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt011333
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05717
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt027790
IRS990/OtherEmployeeBenefitsGrp/TotalAmt044840
IRS990/OtherExpensesGrp/Desc0Bank Fees
IRS990/OtherExpensesGrp/Desc1Outreach
IRS990/OtherExpensesGrp/Desc2Computer Expense
IRS990/OtherExpensesGrp/Desc3Dues and Subscriptions
IRS990/OtherExpensesGrp/FundraisingAmt09995
IRS990/OtherExpensesGrp/FundraisingAmt13783
IRS990/OtherExpensesGrp/FundraisingAmt2726
IRS990/OtherExpensesGrp/FundraisingAmt31342
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt026
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1283
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2278
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3197
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IRS990/OtherExpensesGrp/ProgramServicesAmt14638
IRS990/OtherExpensesGrp/ProgramServicesAmt24134
IRS990/OtherExpensesGrp/ProgramServicesAmt33474
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IRS990/OtherExpensesGrp/TotalAmt18704
IRS990/OtherExpensesGrp/TotalAmt25138
IRS990/OtherExpensesGrp/TotalAmt35013
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0146958
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013152
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0251868
IRS990/OtherSalariesAndWagesGrp/TotalAmt0411978
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IRS990/PayrollTaxesGrp/FundraisingAmt010771
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05386
IRS990/PayrollTaxesGrp/ProgramServicesAmt026928
IRS990/PayrollTaxesGrp/TotalAmt043085
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0770669
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0283121
IRS990/PrincipalOfficerNm0Mary Wolfe
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYTotalProfFndrsngExpnsAmt021000
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IRS990/ReconcilationRevenueExpnssAmt0700170
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01799783
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02496582
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01421890
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01362332
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01756368
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt07466102
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt044490
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt076367
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0227029
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,508,746
Liabilities
$33,731
Net assets
$4,475,015
Revenue
$1,949,736
Expenses
$1,249,566
Net income
$700,170
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$3.80$0.00$3.80$1.44$1.97$0.53
2017Detailed filing. Detailed filing data is available for this year.$4.51$0.03$4.48$1.95$1.25$0.70
2016Detailed filing. Detailed filing data is available for this year.$3.77$0.03$3.73$1.14$1.45$0.31
2015Detailed filing. Detailed filing data is available for this year.$3.77$1.95$1.82$1.48$1.33$0.15
2014Summary only. Only limited summary data is available for this year.$3.47$1.77$1.69$1.41$1.17$0.24
2013Summary only. Only limited summary data is available for this year.$2.91$1.60$1.30$0.74$0.92$0.18
2012Summary only. Only limited summary data is available for this year.$2.66$1.17$1.49$1.05$1.00$0.05
2011Summary only. Only limited summary data is available for this year.$2.61$1.34$1.27$1.62$0.87$0.74