2021-10-13T15:15:13-05:00 2021-05-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2020-06-01 362307745 National Merit Scholarship Corporation NATI 8478665111 1560 Sherman Ave No 200 Evanston IL 602014897 Kamilla L Spoehr Vice President & Treasurer 8478665111 2021-10-12 1 Kamilla Spoehr XXX-XX-XXXX Rebekuh Eley P01247672 3126343400 2021-09-27 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z Timothy E McGuire 1560 Sherman Ave No 200 Evanston IL 602014897 68750311 0 X www.nationalmerit.org X 1955 IL To conduct nationwide academic competitions for recognition and college undergraduate scholarships. 19 18 33 23 0 0 34770410 33654056 3796055 3001476 5397137 13535762 0 0 43963602 50191294 38737329 37120847 0 0 3507084 3616764 85282 0 1268425 7991404 7071289 50321099 47808900 -6357497 2382394 147852638 183825978 2914137 3569215 144938501 180256763 X The mission of National Merit Scholarship Corporation (NMSC) is to recognize and honor the academically talented students of the United States. NMSC accomplishes its mission by conducting nationwide academic scholarship programs. The enduring goals of NMSC's scholarship programs are: to promote a wider and deeper respect for learning in general and for exceptionally talented individuals in particular; to shine a spotlight on brilliant students and encourage the pursuit of academic excellence at all levels of education; and to stimulate increased support from individuals and organizations that wish to sponsor scholarships for outstanding scholastic talent. 0 0 43845611 37120847 3001476 The 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 approximately 1.5 million entrants each year-and by meeting published program entry/participation requirements. For fiscal year 05/31/21 the National Merit Scholarship Program included:Four-Year Renewable Scholarships: 22,389 recipients One-Time Awards: 2,591 recipients 0 0 0 The National Achievement Scholarship Program is an academic competition established in 1964 to provide recognition for outstanding Black American high school students. Black students could enter both the National Achievement Scholarship Program and the National Merit Scholarship Program by taking the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) and meeting other published requirements for participation. A student's standing was determined independently in each program. Black American students could qualify for recognition and be honored as Scholars in both the National Merit Program and the National Achievement Program, but could receive only one monetary award from NMSC. The last awards in the National Achievement Scholarship Program, which included four-year renewable scholarships, were offered in 2015 and NMSC forged a relationship with the United Negro College Fund (UNCF) to carry on the name and legacy of the National Achievement Scholarship Program. In 2015, NMSC contributed $5 million to UNCF to endow the Achievement Capstone Program underwritten by the National Achievement Scholarship Program to honor and award financial assistance to high achieving, underrepresented college graduates. In June 2021, after all remaining scholarship obligations were satisfied for the National Achievement Scholarship Program, NMSC made an additional grant of nearly $2.1 million to UNCF for the Achievement Capstone Program. 43845611 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 33 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AL AK AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS ND NH NJ NM NV NY NC OH OK OR PA RI SC TN UT VA WA WI WV X Kamilla L Spoehr 8478665111 1560 Sherman Ave No 200 Evanston IL 602014897 Timothy E McGuire President 50.00 X X 321675 0 67936 Michael G Johnson Chairman 0.50 X X 0 0 0 David A Dohnalek Vice Chairman 0.50 X X 0 0 0 Diana M Schmelzer Vice Chairman 0.50 X X 0 0 0 Deborah V Traskell Past Vice Chairman 0.50 X X 0 0 0 Richard C Benson Director 0.50 X 0 0 0 Frank J Dellaquila Director 0.50 X 0 0 0 Curley M Dossman Jr Director 0.50 X 0 0 0 Diane E Earll Director 0.50 X 0 0 0 M Timothy Gott Director 0.50 X 0 0 0 Philip A Hooper Director 0.50 X 0 0 0 Heidi B Jark Director 0.50 X 0 0 0 Peter C Jennings Director 0.50 X 0 0 0 Marc A Johnson Director 0.50 X 0 0 0 Richard L Keyser Director 0.50 X 0 0 0 Erin B Kohl Director 0.50 X 0 0 0 Thomas E Pittman Director 0.50 X 0 0 0 Brian P Sinchak Director 0.50 X 0 0 0 David L Stubblefield Director 0.50 X 0 0 0 Wendy A Watkins Director 0.50 X 0 0 0 Brian F Begley Past Director 0.50 X 0 0 0 Colleen M Harsin Past Director 0.50 X 0 0 0 Jennifer L Moench Past Director 0.50 X 0 0 0 William E Troutt Past Director 0.50 X 0 0 0 Jeffrey Z Little Executive Vice President 50.00 X 193506 0 46606 Kamilla L Spoehr Vice President and Treasurer 40.00 X 129250 0 20434 Richard L Sevcik Corporate Secretary 0.50 X 0 0 0 Yucheng Yuan Director of IT 40.00 X 126333 0 27093 Joon K Han Assistant Director of IT 40.00 X 105066 0 33579 Jennifer B Ryan Controller 40.00 X 117112 0 21065 Nancy A Bogart Executive Dir. of Sponsor Services 40.00 X 103145 0 30726 Brooke E Smart Senior Business and Systems Analyst 40.00 X 109235 0 24207 1205322 0 271646 8 0 1 0 Computer Aid Inc 1390 Ridgeview Drive Allentown PA 18104 IT Consultant 2096425 CapGemini America Inc 400 Broadacres Drive Suite 410 Bloomfield NJ 07003 IT Consultant 1441015 John Drake & Associates 1919 S Highland Ave Suite B-202 Lombard IL 60148 IT Services 250463 Morgan Lewis & Bockius LLP 1701 Market Street Philadelphia PA 19103 Legal Services 129374 4 33654056 33654056 Test Fee Revenue 900099 3000000 3000000 Sponsor Admin Service 561000 1476 1476 3001476 979775 979775 31115004 18559017 12555987 12555987 12555987 50191294 3001476 0 13535762 37120847 37120847 677317 88147 418725 170445 2097029 1424855 472919 199255 402312 215119 132296 54897 261486 160982 65447 35057 178620 103161 53930 21529 107508 19942 64255 23311 47494 47494 253770 253770 139595 79580 50604 9411 277608 227679 28483 21446 3718632 2788974 557795 371863 553593 359835 110719 83039 3902 376 3439 87 29678 29678 1853897 1205033 370779 278085 85612 21403 64209 47808900 43845611 2694864 1268425 150 150 6885772 9124966 26532 29054 65627 91984 23680182 22457844 2939894 1222338 131503540 166522468 6399255 6811806 31868 23212 147852638 183825978 826516 924032 2087621 2645183 2914137 3569215 X 139836437 174065384 5102064 6191379 144938501 180256763 147852638 183825978 2382394 32935868 0 X 0 1 X 1 0 X 43280935 36755701 35786918 34770410 33654056 184248020 43280935 36755701 35786918 34770410 33654056 184248020 9832300 174415720 1587842 1670030 1978999 2039687 979775 8256333 192504353 17895007 0.90600 0.90570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 47555130 47555130 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 5102064 1282661 193346 6191379 4952430 341928 192294 5102064 5083272 71615 202457 4952430 4901725 367031 185484 5083272 4557451 522357 178083 4901725 0.00000 1.00000 0.00000 0 0 471768 423232 48536 211238 142083 69155 22997176 21892529 1104647 1222338 X 82873392 32935868 32935868 49937524 253770 253770 50191294 47555130 0 47555130 253770 253770 47808900 Part V, Line 4: The income from the endowment funds is used to pay for scholarships sponsored by the donors. Part X, Line 2: NMSC is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (the Code) and applicable state law, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. NMSC has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Grants and contributions to NMSC are deductible by the donor under Section 170 of the Code. 1 National Merit Program Scholarship Grants 24980 37120847 Part I, Line 2: In order to monitor the use of the scholarship grants, NMSC prepares a check that is payable to each selected Scholar or his/her college/university. NMSC mails these checks directly to the applicable college or university and instructs the institution to verify the Scholar's eligibility for the payment prior to distributing the check to the student or applying it to the Scholar's university account. If the student is ineligible for the payment, NMSC asks the college or university to either send the check back to NMSC or to provide NMSC with a refund if the check has already been deposited by the institution. Each Scholar has an agreement with NMSC that his/her stipend check is only to be used for college undergraduate studies and that any unused portion must be returned to NMSC. X X X X X 0 0 0 0 0 0 0 0 0 Timothy E McGuire President 321675 0 0 0 0 0 51145 0 16791 0 389611 0 0 0 Jeffrey Z Little Executive Vice President 193506 0 0 0 0 0 33867 0 12739 0 240112 0 0 0 Yucheng Yuan Director of IT 126333 0 0 0 0 0 19335 0 7758 0 153426 0 0 0 Form 990, Part VI, Section B, line 11b The Form 990 is prepared by RSM US LLP and then is reviewed internally by NMSC's Treasurer. RSM US LLP makes any necessary edits and the Form 990 is then reviewed by NMSC's President, and is then forwarded to NMSC's legal counsel for an additional review. The completed Form 990 is then mailed to NMSC's Executive Committee of the Board of Directors prior to filing. Form 990, Part VI, Section B, line 12c NMSC requires all members of NMSC's Board of Directors and all Officers to complete a disclosure form on an annual basis to disclose any interests that could give rise to conflicts. In addition, the written policy is provided to all new employees and is constantly available to all employees along with all other policies and procedures on NMSC's network. Form 990, Part VI, Section B, line 15 NMSC's Executive Committee annually determines the salary for NMSC's President and senior executives based on comparable market data. All other salaries are determined by NMSC's President within the parameters of the compensation budget which is approved annually by the Board of Directors. NMSC regularly receives and reviews salary survey data from comparable not-for-profit organizations. This information is reviewed by NMSC's Chairman and the President before determining annual salary adjustments. The process for determining compensation was recorded in the Executive Committee's minutes. Form 990, Part VI, Section C, line 19 NMSC's annual audited financial statements are made available to the public as part of NMSC's Annual Report, which is posted on NMSC's website each year. At this time, NMSC's governing documents and conflict of interest policy are not made available to the public.