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Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
MERIT AMERICA
 
Employer identification number
84-2108762
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
 
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2023

Schedule I (Form 990) 2023
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1) LEARNER SUPPORT 150 104,845 350 FMV GIFT CARDS
(2) LEARNER SUPPORT 87   43,125 FMV LAPTOPS
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
PART I, LINE 2: THE CHIEF BUSINESS OFFICER AND VP OF DEVELOPMENT MEET WITH THE CO-CEOS TO SELECT FUNDERS WITH INTEREST AND PASSION ABOUT MERIT AMERICA'S MISSION. THE GRANT APPLICATION TO A FUNDER INCLUDES THE ORGANIZATION'S ACCOMPLISHMENTS, MILESTONES PLANNED, TARGETED AREAS IN NEED OF FUNDING, AND A DETAILED BUDGET OF HOW GRANT FUNDS WILL BE SPENT. GRANTS ARE MANAGED BY THE CONTROLLER OF THE ORGANIZATION. GRANTS ARE TRACKED IN A DETAILED GRANT SCHEDULE, AND ALL TRANSACTIONS ARE MONITORED REGULARLY. REVENUE IS RECOGNIZED IN ACCORDANCE WITH THE GRANT SPECIFICATIONS, INCLUDING SPENDING REQUIREMENTS, MEETING MILESTONES (IF APPLICABLE), AND IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB). WHEN GRANT CASH IS RECEIVED, THE CONTROLLER ALLOCATES TO PROGRAM SPENDING (EXPENSES) IN ACCORDANCE WITH GRANT SPECIFICATIONS AND TERMS, INCLUDING THE GRANT BUDGET, MILESTONES, AND IN ACCORDANCE WITH FASB RULES. THIS PROCESS ALSO INCLUDES THE REVIEW OF GRANT REPORTS THAT HAVE BEEN PROVIDED TO THE FUNDER BY THE GRANTS TEAM, WHICH HELPS DETERMINE IF MILESTONES REQUIRED IN THE GRANT HAVE BEEN MET. RESTRICTED NET ASSETS (CASH) AND REVENUE ARE RELEASED FROM RESTRICTION WHEN THE GRANT CONDITIONS HAVE BEEN MET. THE CONTROLLER REVIEWS THE FINAL GRANT REPORT AT THE END OF EACH MONTH TO ENSURE GRANT REVENUE, GRANT SPENDING, AND NET ASSETS HAVE BEEN APPROPRIATELY RECORDED IN THE GENERAL LEDGER. GRANT CASH THAT IS RECEIVED - BUT GRANT CONDITIONS HAVE NOT BEEN MET - IS RECORDED AS RESTRICTED NET ASSETS (CASH) AND DEFERRED REVENUE UNTIL THE GRANT CONDITIONS ARE MET. THE GRANTS TEAM PAYS CLOSE ATTENTION TO REPORTING DATES AND WORKS REGULARLY WITH THE CONTROLLER TO SUBMIT ACCURATE AND TIMELY REPORTS OF GRANT SPENDING TO THE FUNDER.
Schedule I (Form 990) 2023



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