Meritus College Fund
- Assets
- $3.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 12
- Location
- San Rafael, CA
- Founding
- Data as of
- 06/2018
- EIN
- 94-3257076
Organization Overview
Meritus College Fund is located in San Rafael, CA. As of 06/2018, Meritus College Fund employed 12 individuals. Meritus College Fund 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 06/2018, Meritus College Fund generated $1.4m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $2.0m during the year ending 06/2018. While expenses have increased by 10.7% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
MERITUS HELPS STUDENTS FROM LOW-INCOME BACKGROUNDS TO COMPLETE A COLLEGE DEGREE SUCCESSFULLY AND PREPARE FOR POST-COLLEGE SUCCESS THROUGH A COMBINATION OF SCHOLARSHIPS, COACHING AND PERSONAL MENTORSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVERALL OUTCOMES:86% OF MERITUS SCHOLARS EARN COLLEGE DEGREES VERSUS JUST 23% OF COMPARABLE LOW-INCOME STUDENTS NATIONALLY.TOTAL NUMBER OF STUDENTS SERVED: 260TOTAL SCHOLARS ADMITTED IN 2018: 59 STUDENTSINCOMING SCHOLARS IN 2018 GRADUATED FROM 16 PUBLIC AND 2 PAROCHIAL HIGH SCHOOLS IN SAN FRANCISCO, 2 PUBLIC HIGH SCHOOLS IN SAN MATEO COUNTY AND 2 PUBLIC HIGH SCHOOLS IN SAN JOSE.MERITUS INTERNSHIP PROGRAM PLACED 49 STUDENTS IN SUMMER INTERNSHIPS.83% OF RISING SENIORS AND 71% OF RISING JUNIORS HAVE HAD AN INTERNSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Sweeney Director | Trustee | 2.5 | $0 |
Madeline Sinclair Treasurer | OfficerTrustee | 2.5 | $0 |
Luis Arellano Director | Trustee | 2.5 | $0 |
Sheila Larsen Secretary | OfficerTrustee | 2.5 | $0 |
Laura Bermudez Director | Trustee | 2.5 | $0 |
Kevin Lowry Director | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $290,029 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,090,313 |
| Noncash contributions included in lines 1a–1f | $122,723 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,380,342 |
| Total Program Service Revenue | $0 |
| Investment income | $35,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,444,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $794,588 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,691 |
| Compensation of current officers, directors, key employees. | $11,460 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $539,357 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,669 |
| Payroll taxes | $53,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,127 |
| Fees for services: Accounting | $24,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $9,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $210,106 |
| Advertising and promotion | $442 |
| Office expenses | $5,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,358 |
| Travel | $11,583 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,800 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,100 |
| All other expenses | $10,073 |
| Total functional expenses | $1,970,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $505,707 |
| Savings and temporary cash investments | $1,158,311 |
| Pledges and grants receivable | $750,046 |
| 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 | $0 |
| Investments—publicly traded securities | $1,379,125 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,639 |
| Total assets | $3,802,828 |
| Accounts payable and accrued expenses | $2,772 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,772 |
| Unrestricted restricted net Assets | $849,116 |
| Temporarily restricted net Assets | $2,950,940 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $3,800,056 |