Merit Network Inc
- Assets
- $191.8m
- Revenue
- $28.6m
- Investments
- $122.7m
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 06/1980
- Data as of
- 06/2020
- EIN
- 38-2210903
Organization Overview
Merit Network Inc is located in Ann Arbor, MI. The organization was established in 1980. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merit Network Inc 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 06/2020, Merit Network Inc generated $28.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $32.1m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MERIT NETWORK'S MISSION IS TO BE A RESPECTED LEADER IN DEVELOPING AND PROVIDING ADVANCED NETWORKING SERVICES TO THE RESEARCH AND EDUCATION COMMUNITY. MERIT IS A TRUSTED SOURCE FOR PROVIDING HIGH-QUALITY NETWORK INFRASTRUCTURE; INITIATING AND FACILITATING COLLABORATION; AND PROVIDING KNOWLEDGE AND TECHNOLOGY TRANSFER THROUGH OUTREACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGH SPEED INTERNET CONNECTIVITY AND RELATED SERVICES DESIGNED TO MEET THE NEEDS OF THE RESEARCH AND EDUCATIONAL COMMUNITY.
PUBLIC INTERNET ROUTING REGISTRY FACILITATING INFORMATION SHARING OF NETWORK ROUTING IN THE PUBLIC DOMAIN.
NATIONAL AND LOCAL SEMINARS, TRAINING AND WORKSHOPS IN SUPPORT OF THE INTERNET RESEARCH AND EDUCATIONAL COMMUNITY.
EDUCATION ORIENTED SERVICE PACKAGES PROVIDING VIRTUAL SERVERS, RELATED SOFTWARE, MONITORING, TECHNICAL SUPPORT, AND FUNDED RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Olson Vice Chair | OfficerTrustee | 1.5 | $0 |
Ronald Woody Secretary | OfficerTrustee | 1.5 | $0 |
Melissa Woo Chair | OfficerTrustee | 1.5 | $0 |
Andrew Holmes Treasurer | OfficerTrustee | 1.5 | $0 |
Robert Stovall VP Strategy & Research | Officer | 40 | $0 |
Michael Milliken VP Technology Operations | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mackinac Bridge Authority Maintenance Fees For Contractual Rights | 6/29/21 | $127,300 |
Peninsula Fiber Network Llc Maintenance Fees For Irus/fiber Contract | 6/29/21 | $156,632 |
Everstream Maintenance Fees For Iru/fiber Lease | 6/29/21 | $109,916 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $288,692 |
| Investment income | $5,953,271 |
| 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 | $28,602,952 |
| Statement of Expenses | |
|---|---|
| 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. | $2,887,653 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,019,001 |
| Pension plan accruals and contributions | $686,540 |
| Other employee benefits | $1,078,342 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $134,702 |
| Fees for services: Accounting | $52,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $230,740 |
| Fees for services: Other | $776,569 |
| Advertising and promotion | $0 |
| Office expenses | $102,236 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,206,340 |
| Travel | $411,709 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,635,641 |
| Insurance | $118,274 |
| All other expenses | $0 |
| Total functional expenses | $32,072,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,560 |
| Savings and temporary cash investments | $24,324,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,074,509 |
| 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 | $2,048,053 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $122,690,828 |
| Investments—program-related | $0 |
| Intangible assets | $8,871 |
| Other assets | $0 |
| Total assets | $191,780,386 |
| Accounts payable and accrued expenses | $1,677,828 |
| Grants payable | $0 |
| Deferred revenue | $1,488,607 |
| 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 | $923,301 |
| Total liabilities | $4,089,736 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $187,690,650 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Merit Network Inc has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Toyota Usa Foundation Plano, TX PURPOSE: ADDRESS FOOD INSECURITY OR DIGITAL DIVIDE IN RESPONSE TO PANDEMIC. | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hancock Rural Telephone Corporation Greenfield, IN | $147,768,424 | $51,230,558 |
Merit Network Inc Ann Arbor, MI | $191,780,386 | $28,602,952 |
Vernon Communications Cooperative Inc Westby, WI | $43,756,692 | $18,296,533 |
Daviess-Martin County Rural Telephone Corporation Montgomery, IN | $38,835,355 | $7,744,077 |
Nelson Communications Cooperative Durand, WI | $35,266,110 | $8,238,356 |
Wabash Mutual Telephone Co Celina, OH | $16,675,060 | $7,819,409 |
Richland-Grant Telephone Cooperative Inc Blue River, WI | $18,746,059 | $6,374,669 |
La Valle Telephone Cooperative La Valle, WI | $13,091,792 | $4,810,156 |
Bascom Mutual Telephone Co Bascom, OH | $15,916,030 | $4,629,697 |
Cable Co-Op Oberlin, OH | $1,941,667 | $2,843,130 |
Indiana Telephone Relay Access Corp For The Hearing & Speech Impaired Indianapolis, IN | $10,657,084 | $3,011,868 |
Sherwood Mutual Telephone Association Inc Sherwood, OH | $15,105,947 | $2,980,166 |