Overview
What is National Merit Scholarship Corporation?
The National Merit Scholarship Corporation (NMSC) is a renowned nonprofit organization located at 1560 Sherman Ave Ste 200, Evanston, IL, 60201. Established in 1955, NMSC's primary mission is to acknowledge and honor academically gifted students across the United States. They achieve this objective by administering nationwide academic competitions and granting undergraduate college scholarships. The organization runs the National Merit Scholarship Program, which begins with students taking the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT). Successful participants are then recognized and granted scholarships. In fiscal year 2022-23, NMSC awarded 21,862 four-year renewable scholarships and 2,716 one-time scholarships. NMSC's goals include fostering respect for education, highlighting academic excellence, and encouraging sponsorships for scholastic talent. Their scholarship programs aim to promote academic achievement at all levels and inspire future generations to pursue academic excellence. The organization has a workforce of 36 employees dedicated to fulfilling its mission.
Official website here: www.nationalmerit.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 98%, Four-Star out of Four Star rating.
The National Merit Scholarship Corporation (NMSC) has received a high score of 98%, indicating strong performance in accountability and finance, as well as impact measurement. The organization demonstrates a robust program expense ratio of nearly 92%, suggesting that a significant portion of its funding is directed towards its scholarship programs. With a majority of its board being independent members and comprehensive policies in place related to financial oversight, NMSC shows a commitment to transparency and ethical governance.
Despite its favorable financial metrics and high impact evaluation scores, some user feedback has raised concerns about communication and clarity regarding scholarship eligibility. A notable review mentioned that a student who was informed of a scholarship later lost it due to an undisclosed restriction on using the scholarship for service academies. This incident highlights potential gaps in how information is conveyed to applicants, which could lead to misunderstandings and disappointment.
Overall, while NMSC is recognized for its effective financial management and positive impacts on scholarship recipients, it may need to improve its communication practices to avoid misinterpretations and ensure that all eligibility criteria are clearly outlined to applicants.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is National Merit Scholarship Corporation legitimate?
National Merit Scholarship Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Merit Scholarship Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $724,229
Professional Fundraising Fees: $243,750
Other Salaries and Wages: $1,848,389
For more financial information, click here
Official website here: www.nationalmerit.org
What is the mission statement of National Merit Scholarship Corporation?
The National Merit Scholarship Corporation (NMSC) is dedicated to recognizing and honoring academically gifted students across the United States. Through its nationwide academic scholarship programs, NMSC strives to foster respect for learning and academic excellence. Its mission is threefold: to shine a light on brilliant students, encourage the pursuit of academic greatness, and stimulate support for scholastic talent through sponsorships. By recognizing and celebrating these exceptional students, NMSC aims to inspire a deeper appreciation for learning and academic achievement at all educational levels.
Official website here: www.nationalmerit.org
Who is the CEO of National Merit Scholarship Corporation?
Timothy E Mcguire is the President of National Merit Scholarship Corporation.
Official website here: www.nationalmerit.org
What is the revenue of National Merit Scholarship Corporation?
National Merit Scholarship Corporation's revenue in 2023 was $44,073,587.
Official website here: www.nationalmerit.org
Who are the executives of National Merit Scholarship Corporation and what are their salaries?
The average compensation at National Merit Scholarship Corporation during 2023 was $71,462. There are 36 employees and 20 volunteers at National Merit Scholarship Corporation.
Here are 30 key members and their salaries:
- Compensation: $374,250
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- Other: $87,204
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- Compensation: $136,653
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- Other: $30,534
- Compensation: $113,088
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- Other: $42,107
- Compensation: $114,061
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- Other: $34,618
- Compensation: $103,277
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- Other: $40,789
- Compensation: $116,251
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- Other: $27,636
- Compensation: $105,946
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Official website here: www.nationalmerit.org
Where can I find the form 990 for National Merit Scholarship Corporation?
National Merit Scholarship Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nationalmerit.org
Learn more at the official website: www.nationalmerit.org
Mission Statement of National Merit Scholarship Corporation
The National Merit Scholarship Corporation (NMSC) is an esteemed organization dedicated to recognizing and celebrating the academic achievements of brilliant students across the United States. NMSC's primary mission is to promote academic excellence and honor exceptionally talented individuals by conducting nationwide academic competitions and offering undergraduate scholarships.
Through its scholarship programs, NMSC aims to foster a deeper appreciation for learning and encourage the pursuit of academic excellence at all levels of education. By recognizing and showcasing the accomplishments of these gifted students, NMSC aspires to inspire others to follow in their footsteps and strive for academic success. Moreover, NMSC's initiatives stimulate increased support from sponsors and individuals who wish to invest in the future of scholastic talent.
In its endeavor to recognize academic excellence, the National Merit Scholarship Corporation organizes various competitions to identify the most brilliant students throughout the nation. These programs provide a platform for students to demonstrate their intellectual abilities and academic prowess. The organization's enduring goals include promoting a wider respect for learning, highlighting the achievements of these students, and stimulating support for scholarships aimed at nurturing outstanding scholastic talent.
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Impact
October, 2024
The National Merit Scholarship Corporation (NMSC) significantly impacts the landscape of academic achievement and scholarship opportunities in the United States. Through its National Merit Scholarship Program, it recognizes and honors academically talented students, creating a pathway for recognition and financial support in higher education.
Each year, about 1.5 million high school students participate in this prestigious program, entering through the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT). This competitive structure not only identifies high-achieving students but also inspires them to pursue excellence in their academic endeavors.
The program provides substantial scholarship support: in fiscal year 2023, it awarded four-year renewable scholarships to 21,862 recipients and one-time awards to 2,716 students. This robust financial assistance empowers students from various backgrounds to access higher education, promoting diversity and equity in academic opportunities.
Moreover, NMSC's mission fosters a culture that values learning and academic excellence, encouraging both students and potential scholarship sponsors to invest in superior educational outcomes. By shining a spotlight on gifted individuals, the organization helps stimulate broader interest and support for educational advancement at all levels, ultimately benefiting society as a whole.
This information is meant to be a general summary of National Merit Scholarship Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $7,627,699
- Program Service Revenue: $3,655,940
- Gross Receipts: $57,328,142
Assets and Liabilities:
- Total Assets: $147,223,809
- Total Liabilities: $5,157,029
- Net Assets: $142,066,780
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Test Fee Revenue
Revenue
$3,652,206
Sponsor Admin Service
Revenue
$3,734
Organization Details
Founding Year
1955
Phone
(847) 866-5111Principal Officer
Timothy E Mcguire
Main Address
1560 Sherman Ave Ste 200, Evanston, IL, 602014897
Website
www.nationalmerit.orgNTEE Category
Code: B820 - Education
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