Merit Network Inc (EIN 382210903) - 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

1966

Legal Domicile

Principal Officer

Roger Blake

Phone

7345275700

Tax Period

2022-07-01 to 2023-06-30

Merit Network Inc, founded in 1966, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $41.1M in total revenue in fiscal year 2022. Revenue surged 22% from the prior year, signaling strong growth momentum. Net assets of $175.8M represent 51 months of operating reserves.

Mission

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.

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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 (2022)

Revenue Breakdown

Contributions & Grants $2,391,218

Program Service Revenue $28,174,695

Investment Income $10,550,691

Other Revenue $0

TOTAL REVENUE $41,116,604

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,435,688

Fundraising Expenses $0

Program Expenses $39,889,950

Other Expenses $31,382,635

TOTAL EXPENSES $42,818,323

Year-over-Year Comparison

	2022	2021	Change
Revenue	$41,116,604	$33,834,611	+0.2%
Expenses	$42,818,323	$36,815,456	+0.2%
Net Income	$-1,701,719	$-2,980,845	-0.4%

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

N/A

Employees

N/A

Volunteers

N/A

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

$1,699,804

Total Directors

$3,179,106

Key Employees

$1,181,683

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rob Thompson	Director	1.50	Director	$0	$74,472	$331,272
Milos Topic	Director	1.50	Director	$0	$83,897	$373,198
Gavin Leach	Director	1.50	Director	$0	$76,870	$341,940
Andrew Palms	Director	1.50	Director	$0	$66,899	$297,585
Melissa Woo	Chair	1.50	Officer Director	$0	$65,857	$292,951
Joshua Olson	Vice Chair	1.50	Officer Director	$0	$63,443	$282,212
Bhavani Koneru	Director	1.50	Director	$0	$62,352	$277,358
Andrew Holmes	Treasurer	1.50	Officer Director	$0	$60,175	$267,675
Ronald Woody	Secretary	1.50	Officer Director	$0	$51,743	$230,166
Charlie Weaver	Director	1.50	Director	$0	$48,616	$216,257
James Bujaki	Director	1.50	Director	$0	$34,259	$152,392
Julie Hober	Director	1.50	Director	$0	$26,100	$116,100
Joseph Sawasky	President/CEO	40.00	Officer	$0	$105,619	$404,977
Kathleen Micheli	VP Finance & Admin/CFO	40.00	Officer	$0	$65,986	$221,823
Robert Stovall	VP Strategy & Research	40.00	Key Emp	$0	$98,170	$302,770
Charlotte Bewersdorff	VP Community Engagement	40.00	Key Emp	$0	$53,147	$238,840
Michael Milliken	VP Technology Operations	40.00	Key Emp	$0	$44,454	$226,850
Kevin Hayes	Chief Information Security Officer	40.00	Key Emp	$0	$51,983	$213,676
David Dennis	Chief Information Officer	40.00	Key Emp	$0	$47,787	$199,547
Larry Blunk	Network Engineer	40.00	Highest	$0	$76,426	$202,433
Karen Smith	Executive Professional (until 08/22)	40.00	Highest	$0	$29,669	$187,776
Michael Kallitsis	Researcher	40.00	Highest	$0	$49,017	$184,039
Roy Hockett	Network Engineer	40.00	Highest	$0	$45,335	$178,802
Jason Russell	Director of Business System	40.00	Highest	$0	$29,224	$148,296

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$41,116,604	$42,818,323	$196,866,587	$-1,701,719
2022	$33,834,611	$36,815,456	$197,507,499	$-2,980,845
2021	$23,963,996	$29,263,121	$203,858,212	$-5,299,125
2020	$28,602,952	$32,072,890	$191,780,386	$-3,469,938
2019	$119,289,294	$30,327,831	$196,140,414	$88,961,463
2018	$37,557,877	$31,125,935	$198,076,604	$6,431,942

Merit Network Inc