National Merit Scholarship Corporation
National Merit Scholarship Corporation reported $59.1 million in revenue and $44.7 million in expenses for the fiscal year ending May 31, 2025. Of every $100 it spent, $89.35 went to program services, $6.55 to management and general costs and $4.10 to fundraising. Its largest source of revenue was contributions and grants: 50.5% of the total. The highest compensation it reported for one person was $545,528 (President). 9 people received more than $100,000 in reportable compensation. Revenue rose 34% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending May 31, 2025 · Form 990, Part IX, line 25 · total expenses $45MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending May 31, 2025 · Form 990, Part VIII · total revenue $59MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.4% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 6.5% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.1% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.06 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 50.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 5.1% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $545,528 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.22% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 9 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 41.1 | 13.3 |
| Independent voting board members Part VI 1a–1b | 18 of 19 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe National Merit Scholarship Program is an academic competition for recognition and scholarships that began in 1955. High school students enter the National Merit Program by taking the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) - a test which serves as an initial screen of over 1.3 million entrants each year-and by meeting published program entry/participation requirements. For fiscal year 05/31/25 the National Merit Scholarship Program included:Four-Year Renewable Scholarships: 20,076 recipients One-Time Awards: 2,654 recipients
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President Director/trustee, officer, 50.00 hrs/week | $445,234 | $0 | $100,294 | $545,528 |
| Vice President and Treasurer Officer, 40.00 hrs/week | $186,894 | $0 | $63,620 | $250,514 |
| Scholar & Donor Svcs (until 1/24/25) Highest compensated employee, 40.00 hrs/week | $154,958 | $0 | $49,413 | $204,371 |
| Exec. Director of IT Highest compensated employee, 40.00 hrs/week | $150,520 | $0 | $36,180 | $186,700 |
| Vice President Officer, 40.00 hrs/week | $137,183 | $0 | $48,018 | $185,201 |
| Director of IT Highest compensated employee, 40.00 hrs/week | $117,497 | $0 | $51,382 | $168,879 |
| Exec. Dir. of Sponsor Services Highest compensated employee, 40.00 hrs/week | $121,534 | $0 | $43,898 | $165,432 |
| Exec. Dir. of Public Information Highest compensated employee, 40.00 hrs/week | $111,020 | $0 | $47,781 | $158,801 |
9 people received more than $100,000 in reportable compensation from National Merit Scholarship Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $842K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b19 · 18 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 539
- Volunteers Part I, line 620
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Computer Aid Inc IT Consultant | $2,634,144 |
| CapGemini America Inc IT Consultant | $1,484,395 |
| RT New Ventures LLC IT Consultant | $650,869 |
| Community Counselling Service LLC Fundraising Services | $399,115 |
Individuals listed as contractors are left out. 8 contractors were paid more than $100,000 in all.
Private foundation grants it received
27 private foundations reported grants to National Merit Scholarship Corporation totaling $4.3M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from National Merit Scholarship Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for National Merit Scholarship Corporation, you can publish a response that is linked from this page.
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Of every $100 National Merit Scholarship Corporation spent in FY2025, $89.35 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- West Virginia Wesleyan CollegeBuckhannon, WV · revenue $59M · programs 89.4% · FY2025
- LA Jolla Country Day SchoolLA Jolla, CA · revenue $59M · programs 85.9% · FY2025
- Middlesex SchoolConcord, MA · revenue $59M · programs 73.6% · FY2025
- Belhaven UniversityJackson, MS · revenue $59M · programs 84.2% · FY2024
- River City Education ServicesJacksonville, FL · revenue $59M · programs 99.4% · FY2025
Questions people ask
How much of National Merit Scholarship Corporation's spending goes to programs?
In the fiscal year ending May 31, 2025, National Merit Scholarship Corporation reported that 89.4% of its $44.7 million in expenses went to program services, 6.5% to management and general and 4.1% to fundraising (Form 990, Part IX).
How much does National Merit Scholarship Corporation pay its top executive?
The largest total compensation National Merit Scholarship Corporation reported for one person in the fiscal year ending May 31, 2025 was $545,528, for the role of President (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does National Merit Scholarship Corporation get its money?
Of $59.1 million in revenue in the fiscal year ending May 31, 2025, 50.5% came from contributions and grants and 5.1% from program service revenue (Form 990, Part VIII).
Is National Merit Scholarship Corporation a registered charity?
The IRS lists EIN 36-2307745 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending May 31, 2025, object 202512769349301636 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending May 31, 2024, object 202402909349301710 · read the filing
- FY2023: Form 990 for the fiscal year ending May 31, 2023, object 202342869349302469 · read the filing
- FY2022: Form 990 for the fiscal year ending May 31, 2022, object 202232879349300823 · read the filing
- FY2021: Form 990 for the fiscal year ending May 31, 2021, object 202122869349301337 · read the filing
- FY2020: Form 990 for the fiscal year ending May 31, 2020, object 202022869349300807 · read the filing
All filings for EIN 36-2307745: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.