Merit Academy (EIN 852365942) - 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

2021

Legal Domicile

Principal Officer

Gwynne Dawdy Pekron

Phone

7196862274

Tax Period

2023-07-01 to 2024-06-30

Merit Academy, founded in 2021, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $6.8M exceeded revenue, resulting in a 27% operating deficit.

Mission

Merit Academy will cultivate the minds and nurture the hearts of K-12 youth in the Ute Pass/Woodland Park region with instruction in the principles of moral character and civic virtue, employing honored foundations of classical education and Core Knowledge.

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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 (2023)

Revenue Breakdown

Contributions & Grants $537,753

Program Service Revenue $4,839,597

Investment Income $895

Other Revenue $-1,654

TOTAL REVENUE $5,376,591

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,755,348

Fundraising Expenses $0

Program Expenses $6,092,780

Other Expenses $1,065,602

TOTAL EXPENSES $6,820,950

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,376,591	$4,399,236	+0.2%
Expenses	$6,820,950	$5,781,676	+0.2%
Net Income	$-1,444,359	$-1,382,440	+0.0%

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

102

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

$175,884

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nicole Waggoner	Member	2.00	Director	$0	$0	$0
Jason Ledlie	President	2.00	Officer Director	$0	$0	$0
Mary Sekowski	Treasurer	2.00	Officer Director	$0	$0	$0
John Dill	Vice President	2.00	Officer Director	$0	$0	$0
Katie Illingworth	Secretary	2.00	Officer Director	$0	$0	$0
Gwynne Pekron	Headmaster	60.00	Officer	$79,547	$32,937	$112,484
Leanna Tally	CFO	60.00	Officer	$46,733	$16,667	$63,400

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	$5,376,591	$6,820,950	$5,019,191	$-1,444,359
2023	$4,399,236	$5,781,676	$4,326,463	$-1,382,440
2022	$2,734,807	$2,567,152	$1,211,326	$167,655

Merit Academy