National Merit Scholarship Corporation

Organization Overview

National Merit Scholarship Corporation is located in Evanston, IL. The organization was established in 1957. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 05/2022, National Merit Scholarship Corporation employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Merit Scholarship 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 05/2021, National Merit Scholarship Corporation generated $50.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $47.8m during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO CONDUCT NATIONWIDE ACADEMIC COMPETITIONS FOR RECOGNITION AND COLLEGE UNDERGRADUATE SCHOLARSHIPS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE NATIONAL MERIT SCHOLARSHIP PROGRAM IS AN ACADEMIC COMPETITION FOR RECOGNITION AND SCHOLARSHIPS THAT BEGAN IN 1955. HIGH SCHOOL STUDENTS ENTER THE NATIONAL MERIT PROGRAM BY TAKING THE PRELIMINARY SAT/NATIONAL MERIT SCHOLARSHIP QUALIFYING TEST (PSAT/NMSQT) - A TEST WHICH SERVES AS AN INITIAL SCREEN OF APPROXIMATELY 1.5 MILLION ENTRANTS EACH YEAR-AND BY MEETING PUBLISHED PROGRAM ENTRY/PARTICIPATION REQUIREMENTS. FOR FISCAL YEAR 05/31/22 THE NATIONAL MERIT SCHOLARSHIP PROGRAM INCLUDED:FOUR-YEAR RENEWABLE SCHOLARSHIPS: 22,480 RECIPIENTS ONE-TIME AWARDS: 2,813 RECIPIENTS


THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM IS AN ACADEMIC COMPETITION ESTABLISHED IN 1964 TO PROVIDE RECOGNITION FOR OUTSTANDING BLACK AMERICAN HIGH SCHOOL STUDENTS. BLACK STUDENTS COULD ENTER BOTH THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM AND THE NATIONAL MERIT SCHOLARSHIP PROGRAM BY TAKING THE PRELIMINARY SAT/NATIONAL MERIT SCHOLARSHIP QUALIFYING TEST (PSAT/NMSQT) AND MEETING OTHER PUBLISHED REQUIREMENTS FOR PARTICIPATION. A STUDENT'S STANDING WAS DETERMINED INDEPENDENTLY IN EACH PROGRAM. BLACK AMERICAN STUDENTS COULD QUALIFY FOR RECOGNITION AND BE HONORED AS SCHOLARS IN BOTH THE NATIONAL MERIT PROGRAM AND THE NATIONAL ACHIEVEMENT PROGRAM, BUT COULD RECEIVE ONLY ONE MONETARY AWARD FROM NMSC. THE LAST AWARDS IN THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM, WHICH INCLUDED FOUR-YEAR RENEWABLE SCHOLARSHIPS, WERE OFFERED IN 2015 AND NMSC FORGED A RELATIONSHIP WITH THE UNITED NEGRO COLLEGE FUND (UNCF) TO CARRY ON THE NAME AND LEGACY OF THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM. IN 2015, NMSC CONTRIBUTED $5 MILLION TO UNCF TO ENDOW THE ACHIEVEMENT CAPSTONE PROGRAM UNDERWRITTEN BY THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM TO HONOR AND AWARD FINANCIAL ASSISTANCE TO HIGH ACHIEVING, UNDERREPRESENTED COLLEGE GRADUATES. IN JUNE 2021, AFTER ALL REMAINING SCHOLARSHIP OBLIGATIONS WERE SATISFIED FOR THE NATIONAL ACHIEVEMENT SCHOLARSHIP PROGRAM, NMSC MADE AN ADDITIONAL AND FINAL GRANT OF NEARLY $2.1 MILLION TO UNCF FOR THE ACHIEVEMENT CAPSTONE PROGRAM.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Computer Aid Inc
It Consultant
$2,258,490
Capgemini America Inc
It Consultant
$1,413,472
John Drake & Associates Llc
It Services
$243,117
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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$33,654,056
Investment income $979,775
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $12,555,987
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $50,191,294

Grants Awarded

Over the last fiscal year, National Merit Scholarship Corporation has awarded $8,239,240 in support to 2 organizations.

Grant RecipientAmount

UNITED NEGRO COLLEGE FUND

Org PageRecipient Profile

Washington, DC

PURPOSE: To endow Achievement Capstone Program

$5,000,000

COLLEGE ENTRANCE EXAMINATION BOARD

Org PageRecipient Profile

New York, NY

PURPOSE: Preliminary SAT/National Merit Scholarship Qualifying Test

$3,239,240
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 25 grants that National Merit Scholarship Corporation has recieved totaling $1,740,985.

Awarding OrganizationAmount
Adp Foundation

Roseland, NJ

PURPOSE: CHARITABLE CONTRIBUTION

$309,591
Illinois Tool Works Foundation

Glenview, IL

PURPOSE: UNRESTRICTED - GENERAL USE

$193,280
Novartis Us Foundation

East Hanover, NJ

PURPOSE: 2020-2021 ACADEMIC YEAR SCHOLARSHIP

$165,234
Ingersoll-Rand Charitable Foundation

Davidson, NC

PURPOSE: PROVIDE SCHOLARSHIPS TO CHILDREN OF EMPLOYEES.

$136,048
Hormel Foods Corporation Chartible Tr

Austin, MN

PURPOSE: EDUCATION

$126,854
Columbus Foundation

Columbus, OH

PURPOSE: EDUCATION

$109,238
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$6,191,379
Earnings-$429,673
Grants$233,749
Ending Balance$5,527,957

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