National Merit Scholarship Corporation (EIN 362307745) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

Timothy E McGuire

Phone

8478665111

Tax Period

2024-06-01 to 2025-05-31

National Merit Scholarship Corporation, founded in 1955, is a mid-sized nonprofit in the Education sector that reported $59.1M in total revenue in fiscal year 2024. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $14.4M, a strong 24% operating margin.

Mission

To conduct nationwide academic competitions for recognition and college undergraduate scholarships.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $29,846,180

Program Service Revenue $3,002,524

Investment Income $26,243,284

Other Revenue $0

TOTAL REVENUE $59,091,988

Expense Breakdown

Grants Paid $32,753,793

Salaries & Benefits $4,301,076

Fundraising Expenses $1,833,208

Program Expenses $39,921,078

Other Expenses $7,487,540

TOTAL EXPENSES $44,678,909

Year-over-Year Comparison

	2024	2023	Change
Revenue	$59,091,988	$39,117,284	+0.5%
Expenses	$44,678,909	$46,187,457	0.0%
Net Income	$14,413,079	$-7,070,173	-3.0%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$981,243

Total Directors

$545,528

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy E McGuire	President	50.00	Officer Director	$445,234	$100,294	$545,528
Frank J Dellaquila	Chairman	0.50	Officer Director	$0	$0	$0
Heidi B Jark	Vice Chairman	0.50	Officer Director	$0	$0	$0
Peter C Jennings	Vice Chairman	0.50	Officer Director	$0	$0	$0
Richard C Benson	Director	0.50	Director	$0	$0	$0
Brad R Carson	Director	0.50	Director	$0	$0	$0
Curley M Dossman Jr	Director	0.50	Director	$0	$0	$0
Diane E Earll	Director	0.50	Director	$0	$0	$0
Colleen M Harsin	Director	0.50	Director	$0	$0	$0
Michael G Johnson	Director	0.50	Director	$0	$0	$0
Erin B Kohl	Director	0.50	Director	$0	$0	$0
Jeremy J Lowe	Director	0.50	Director	$0	$0	$0
Rosemary E Matzl	Director	0.50	Director	$0	$0	$0
Thomas E Pittman	Director	0.50	Director	$0	$0	$0
Mark E Reed	Director	0.50	Director	$0	$0	$0
Charles F Robinson	Director	0.50	Director	$0	$0	$0
Susan T Sadler	Director	0.50	Director	$0	$0	$0
Justin C Walker	Director	0.50	Director	$0	$0	$0
Wendy A Watkins	Director	0.50	Director	$0	$0	$0
Brian P Sinchak	Past Director	0.50	Director	$0	$0	$0
David L Stubblefield	Past Director	0.50	Director	$0	$0	$0
Kamilla L Spoehr	Vice President and Treasurer	40.00	Officer	$186,894	$63,620	$250,514
Kimberly C Greiner	Vice President	40.00	Officer	$137,183	$48,018	$185,201
Richard L Sevcik	Corporate Secretary	0.50	Officer	$0	$0	$0
Yucheng Yuan	Exec. Director of IT	40.00	Highest	$150,520	$36,180	$186,700
Sean M MacCready ED of	Scholar & Donor Svcs (until 1/24/25)	40.00	Highest	$154,958	$49,413	$204,371
Nancy A Bogart	Exec. Dir. of Sponsor Services	40.00	Highest	$121,534	$43,898	$165,432
Joon K Han	Director of IT	40.00	Highest	$117,497	$51,382	$168,879
Eileen M Artemakis	Exec. Dir. of Public Information	40.00	Highest	$111,020	$47,781	$158,801

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$59,091,988	$44,678,909	$160,676,185	$14,413,079
2024	$39,117,284	$46,187,457	$159,683,845	$-7,070,173
2023	$44,073,587	$46,689,079	$147,223,809	$-2,615,492
2022	$48,812,350	$49,690,075	$155,771,108	$-877,725
2021	$50,191,294	$47,808,900	$183,825,978	$2,382,394
2020	$43,963,602	$50,321,099	$147,852,638	$-6,357,497
2019	$48,986,860	$50,965,849	$150,542,495	$-1,978,989

National Merit Scholarship Corporation