Merit Shop Training Inc
- Assets
- $1.9m
- Revenue
- $555.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Freeport, TX
- Founding
- 09/1989
- Data as of
- 12/2021
- EIN
- 76-0234679
Organization Overview
Merit Shop Training Inc is located in Freeport, TX. The organization was established in 1989. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merit Shop Training Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Merit Shop Training Inc generated $555.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $585.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TRAINING PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRAFT TRAINING AND EDUCATION FOR CONSTRUCTION TRAINEES DURING FALL, SPRING AND SUMMER SEMESTERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Mcalister President | Officer | 6 | $26,414 |
James Lapier Incoming Pre | Officer | 6 | $0 |
Tim Hicks Director | Trustee | $0 | |
Dwayne Leger Advisor | Trustee | $0 | |
Richard Miller Chairman | Trustee | $0 | |
Beth Cassidy Advisor | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $323,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,908 |
| Total Program Service Revenue | $222,807 |
| Investment income | $8,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $555,080 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $26,414 |
| Compensation of current officers, directors, key employees. | $26,414 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $202,055 |
| Pension plan accruals and contributions | $12,082 |
| Other employee benefits | $42,214 |
| Payroll taxes | $18,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101,891 |
| Travel | $82 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,272 |
| Insurance | $10,286 |
| All other expenses | $44,554 |
| Total functional expenses | $585,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,254 |
| Savings and temporary cash investments | $336,904 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,163 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $815,036 |
| Investments—publicly traded securities | $247,350 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,262 |
| Total assets | $1,906,969 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $11,250 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,607 |
| Total liabilities | $22,857 |
| Net assets without donor restrictions | $1,884,112 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,906,969 |
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