Merit Preparatory Academy
- Assets
- $12.8m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 97
- Location
- Springville, UT
- Founding
- 11/2009
- Data as of
- 06/2021
- EIN
- 26-0450627
Organization Overview
Merit Preparatory Academy is located in Springville, UT. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Merit Preparatory Academy employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merit Preparatory Academy 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 06/2021, Merit Preparatory Academy generated $4.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $4.6m during the year ending 06/2021. While expenses have increased by 4.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MERIT WILL PREPARE ALL STUDENTS TO ACHIEVE THEIR HIGHEST POTENTIAL AS CITIZENS IN SOCIETY BY DEVELOPING THE KNOWLEDGE AND SKILLS REQUIRED TO EXCEL IN HIGHER EDUCATION AND BY DEVELOPING THE KNOWLEDGE AND SKILLS REQUIRED FOR COMMUNITY LEADERSHIP AND SOCIAL COMMITMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAIN PROGRAM IS TO EDUCATE STUDENTS. OUR ACHIEVEMENTS HAVE BEEN AND ARE TO PROVIDE INNOVATIVE EFFECTIVE LEARNING FOR STUDENTS AND HELP PREPARE THEM FOR IIFE AFTER SCHOOL.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jesse L Meeks Director | Officer | 40 | $95,366 |
Angela Bunker Trustee | Trustee | 3 | $0 |
Tyler Griffen Trustee | Trustee | 3 | $0 |
Rachel Jay Trustee | Trustee | 3 | $0 |
Heidi Bingham Trustee | Trustee | 3 | $0 |
Rozelle Hansen Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,442,535 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,450,148 |
| Total Program Service Revenue | $216,405 |
| Investment income | $7,885 |
| 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 | $4,674,438 |
| 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. | $102,246 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,285,817 |
| Pension plan accruals and contributions | $61,810 |
| Other employee benefits | $377,356 |
| Payroll taxes | $144,357 |
| Fees for services: Management | $70,800 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $10,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,923 |
| Advertising and promotion | $4,967 |
| Office expenses | $56,211 |
| Information technology | $91,285 |
| Royalties | $0 |
| Occupancy | $95,304 |
| Travel | $37,887 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $585,328 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $330,445 |
| Insurance | $11,898 |
| All other expenses | $0 |
| Total functional expenses | $4,609,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $998,886 |
| Savings and temporary cash investments | $1,446,049 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,651 |
| 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 | $7,694 |
| Net Land, buildings, and equipment | $10,203,306 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,760,586 |
| Accounts payable and accrued expenses | $280,896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $13,022,307 |
| 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 | $13,303,203 |
| Net assets without donor restrictions | -$2,265,011 |
| Net assets with donor restrictions | $1,722,394 |
| 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 | $12,760,586 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Merit Preparatory Academy has recieved totaling $162.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $162 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arizona Community Development Corporation Tucson, AZ | $20,473,547 | $20,902,974 |
Nevada Virtual Academy Las Vegas, NV | $12,366,306 | $18,372,416 |
Academy Of Math & Science Inc Tucson, AZ | $35,777,199 | $18,613,878 |
Windsor Charter Academy Windsor, CO | $36,625,608 | $15,987,871 |
Science Technology Engineering And Math Stem High School Highlands Ranch, CO | $15,587,452 | $17,872,586 |
Stargate Charter School Thornton, CO | $19,773,978 | $21,738,033 |
Syracuse Arts Academy Inc Syracuse, UT | $37,683,088 | $15,500,034 |
Legacy Traditional School-Surprise Chandler, AZ | $32,091,284 | $16,357,315 |
American Leadership Academy Inc Spanish Fork, UT | $40,999,211 | $16,702,602 |
Chavez Huerta K-12 Preparatory Academy Pueblo, CO | $45,291,290 | $14,740,819 |
Liberty Tradition Charter School Phoenix, AZ | $15,402,752 | $15,178,313 |
Coral Academy Of Science Reno Reno, NV | $34,851,915 | $13,673,616 |