Merit Incorporated
- Assets
- $27.4k
- Revenue
- $135.9k
- Investments
- $0.0
- Employees
- 18
- Location
- Monterey, CA
- Founding
- 09/1999
- Data as of
- 08/2023
- EIN
- 77-0500422
Organization Overview
Merit Incorporated is located in Monterey, CA. The organization was established in 1999. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 08/2023, Merit Incorporated employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merit Incorporated 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 08/2023, Merit Incorporated generated $135.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $312.5k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENTERPRISE, RESEARCH AND TRAINING TO STRENGTHEN AND RECLAIM YOUNG LIVES
Describe the Organization's Program Activity:
Part 3 - Line 4a
1.1 - TO PROVIDE JOBS TO INMATES TO CREATE WORK EXPERIENCE TO ENTER THE WORLD AFTER IMPRISONMENT. EMPLOY AND TRAIN YOUNG OFFENDERS IN A MAXIMUM SECURITY INSTITUTION TO PREPARE SURPLUS ELECTRONIC EQUIPMENT FOR WHOLESALE/RESALE, REUSE AND RECYCLING.2 - CONDUCTED EVALUATIONS OF PROGRAMS DESIGNED TO STRENGTHEN THE EDUCATION OF AT RISK YOUNG PEOPLE AND PREVENT STUDENTS FROM DROPPING OUT OF SCHOOL.3 - STRENGTHEN RELATIONSHIPS WITH THE CA DEPARTMENT OF CORRECTIONS AND REHABILITATION (CDCR) AND BUSINESS PARTNERS TO SUSTAIN THEIR SUPPORT FOR MERIT'S JOB TRAINING ENTERPRISE. PROVIDED ASSISTANCE TO CDRC IN THEIR EFFORTS TO OBTAIN MORE SUPPORT FOR YOUNG OFFENDERS UPON RELEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Thompson Director | Trustee | 1 | $0 |
Mack Jenkins Director | Trustee | 1 | $0 |
Yolanda Castro Director | Trustee | 1 | $0 |
Andrea Deveau Director | Trustee | 1 | $0 |
Ted Gray Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $132,727 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $135,927 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $197,046 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $17,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,975 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,369 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,560 |
| Insurance | $19 |
| All other expenses | $7,463 |
| Total functional expenses | $312,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,559 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $6,840 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,399 |
| Accounts payable and accrued expenses | $13 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $220,914 |
| Other liabilities | $2,377 |
| Total liabilities | $223,304 |
| Net assets without donor restrictions | -$195,905 |
| 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 | $27,399 |