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Merit School of Music

Chicago, Illinois · EIN 36-3028768 · Arts, Culture & Humanities · tax-exempt since 1979

C

Charity Clarity grade C (score 59.7 of 100), based on the Form 990 for the year ended August 2025.

Graded against 5,209 arts, culture & humanities nonprofits with revenue $10M–$50M filing the same form. A = top 10%, B = next 20%, C = middle 40%, D = next 20%, F = bottom 10%.

What goes into the grade

MeasureThis charityScore (0–100)
ReservesMonths of spending covered by unrestricted net assets.56.0 months7
GovernanceBoard independence, key policies and audit, per the 990.100% of practices100
Margin stabilityHow steady the surplus or deficit is year to year.54
Revenue spreadHow much revenue rests on one type of income.50% from one source63
Filing recordOn-time, complete filings, year after year.100%100
Program spendingSelf-reported by the filer.88.7%not scored
Management costsShare of spending.3.4%not scored
Cost to raise $1Fundraising cost per dollar given.$0.10not scored

Scores compare this charity with its peer group; 100 is best. How Charity Clarity rates charities.

Year by year

2016201720182019202020212022202320242025grey: revenue · green: spending
Year endedFormRevenueSpendingSurplusNet assetsMonths of spendingStaffGrade
Aug 2025Form 990$13.85M$9.78M$4.07M$45.60M56.0224C
Aug 2024Form 990$15.96M$9.17M$6.79M$41.53M54.3203C
Aug 2023Form 990$11.72M$8.39M$3.33M$34.74M49.7207C
Aug 2022Form 990$6.57M$8.09M−$1.51M$31.42M46.6207D
Aug 2021Form 990$10.17M$7.11M$3.05M$32.93M55.5175C
Aug 2020Form 990$872K$1.00M−$131K$29.88M357.7175C
Jun 2019Form 990$11.67M$6.83M$4.83M$28.24M49.6230C
Jun 2018Form 990$6.68M$6.98M−$297K$23.13M39.8231B
Jun 2017Form 990$6.49M$6.76M−$267K$22.74M40.4205B
Jun 2016Form 990$7.19M$6.85M$340K$21.75M38.1220B

From the organisation’s own IRS filings. “Months of spending” is total net assets divided by a month of that year’s spending. A blank grade means that year was not rated.

Read the filings

Every figure here comes from the returns this charity filed with the IRS. These sites show the full returns and more about the organisation:

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