New Meridian Corporation
- Assets
- $17.6m
- Revenue
- $24.6m
- Investments
- $0.0
- Employees
- 92
- Location
- Austin, TX
- Founding
- 07/2017
- Data as of
- 06/2023
- EIN
- 81-3949146
Organization Overview
New Meridian Corporation is located in Austin, TX. The organization was established in 2017. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, New Meridian Corporation employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Meridian Corporation 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 06/2023, New Meridian Corporation generated $24.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $28.2m during the year ending 06/2023. 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
NEW MERIDIAN'S MISSION IS TO ADVANCE THE QUALITY OF PUBLIC EDUCATION FOR ALL STUDENTS BY DESIGNING ASSESSMENTS THAT FOCUS ON THE SKILLS THAT MATTER: CRITICAL THINKING, DEEP UNDERSTANDING, AND THE ABILITY TO COMMUNICATE IDEAS EFFECTIVELY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW MERIDIAN PARTNERS WITH STATES TO DESIGN AND DEVELOP STUDENT ASSESSMENTS THAT MEASURE THE CRITICAL THINKING AND REASONING SKILLS THAT ARE CRITICAL TO STUDENTS' SUCCESS. DURING THIS YEAR, NEW MERIDIAN DEVELOPED EDUCATIONAL ASSESSMENTS SERVING 3.6 MILLION STUDENTS. NEW MERIDIAN ALSO DEVELOPED AN INNOVATIVE, "HYBRID" APPROACH TO TEST DEVELOPMENT THAT ENABLES STATES TO FLEXIBLY OPTIMIZE A BLEND OF EXISTING HIGH-QUALITY TEST CONTENT WITH NEW CUSTOM-DEVELOPED CONTENT, RAISING QUALITY WHILE REDUCING COSTS AND DEVELOPMENT TIMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur Vanderveen President & CEO | OfficerTrustee | 50 | $396,417 |
Thomas M Higgins Director | Trustee | 0.5 | $0 |
Jesse Markow Director | Trustee | 0.5 | $0 |
Eileen Shihadeh COO From 3/13/23 | Officer | 50 | $0 |
Steve Titan CFO From 9/1/22 | Officer | 50 | $98,271 |
Tauseef Khan Chief Information Officer | 50 | $286,868 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncs Pearson Inc Test Content & Develop | 6/29/23 | $4,460,885 |
Council For Aid To Education Test Content & Develop | 6/29/23 | $1,454,584 |
Bigdata Dimension Inc Technology Consultants | 6/29/23 | $1,420,848 |
Human Resources Research Organization Psychometric Services | 6/29/23 | $281,280 |
Caveon Llc Data Forensics | 6/29/23 | $274,454 |
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 | $1,900,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,900,000 |
| Total Program Service Revenue | $22,491,139 |
| Investment income | $234,927 |
| 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 | $24,626,066 |
| 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. | $845,247 |
| Compensation of current officers, directors, key employees. | $472,331 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,200,047 |
| Pension plan accruals and contributions | $281,298 |
| Other employee benefits | $1,047,232 |
| Payroll taxes | $712,665 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $392,855 |
| Fees for services: Accounting | $228,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,587,985 |
| Advertising and promotion | $469,134 |
| Office expenses | $60,288 |
| Information technology | $940,537 |
| Royalties | $0 |
| Occupancy | $110,580 |
| Travel | $397,381 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $321,251 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,928 |
| Insurance | $95,608 |
| All other expenses | $0 |
| Total functional expenses | $28,215,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,149,348 |
| Savings and temporary cash investments | $12,209,816 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,384,792 |
| 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 | $248,816 |
| Net Land, buildings, and equipment | $196,396 |
| Investments—publicly traded securities | $2,023,146 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $215,147 |
| Other assets | $148,193 |
| Total assets | $17,575,654 |
| Accounts payable and accrued expenses | $2,217,943 |
| Grants payable | $0 |
| Deferred revenue | $169,731 |
| 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 | $157,537 |
| Total liabilities | $2,545,211 |
| Net assets without donor restrictions | $15,030,443 |
| 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 | $17,575,654 |