MERITO Foundation Inc FKA MutliCultural Education for Reso

EIN: 383911932 501(c)(3) Environment

Ventura, CA

Total Revenue
$557,421
Total Expenses
$546,270
Total Assets
$129,048
Net Assets
$128,184
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
CA
Principal Officer
Rocio Lozano Knowlton
Phone
8057656326
Tax Period
2024-01-01 to 2024-12-31

MERITO Foundation Inc FKA MutliCultural Education for Reso, founded in 2013, is a small nonprofit in the Environment sector that reported $557K in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum.

Mission

MERITO is a 501(c)3 charitable organization dedicated to protecting the ocean by facilitating education, conservation, and scientific research opportunities for multicultural youth and their communities while increasing awareness and understanding of the importance of the ocean, ocean-related threats, and environmentally friendly practices. MERITO also strives to motivate diverse youth to pursue science, technology or engineering careers that relate to the ocean.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $565,722
Program Service Revenue $0
Investment Income $0
Other Revenue $-8,301
TOTAL REVENUE $557,421

Expense Breakdown

Grants Paid $0
Salaries & Benefits $260,415
Fundraising Expenses $8,967
Program Expenses $487,330
Other Expenses $285,855
TOTAL EXPENSES $546,270

Year-over-Year Comparison

2024 2023 Change
Revenue $557,421 $413,304 +0.3%
Expenses $546,270 $382,252 +0.4%
Net Income $11,151 $31,052 -0.6%
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

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Governance

Voting Members
9
Independent Members
4
Employees
4
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
5
$104,200
Total Directors
9
$104,200
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rocio Lozano Knowlton Exec. Director 40.00
Officer Director
$103,200 $0 $103,200
Linda Chilton Treasurer 2.00
Officer Director
$1,000 $0 $1,000
Cliff Rodriguez Vice President 3.00
Officer Director
$0 $0 $0
David Lantrip President 2.00
Officer Director
$0 $0 $0
Adam Vega Secretary 2.00
Officer Director
$0 $0 $0
Judy Willens Director 2.00
Director
$0 $0 $0
Andrea Mills Director 2.00
Director
$0 $0 $0
Alejandra Belalcazar Director 2.00
Director
$0 $0 $0
Carlos Cohen II Director 2.00
Director
$0 $0 $0
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
2024 $557,421 $546,270 $129,048 $11,151
2023 $413,304 $382,252 $129,322 $31,052
2022 $322,200 $310,141 $126,603 $12,059
2021 $297,409 $210,707 $88,703 $86,702
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