2025-10-03T15:59:49-05:00 2025-05-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2024-06-01 362307745 National Merit Scholarship Corporation NATI 8478665111 1560 Sherman Ave Ste 200 Evanston IL 602014897 Kamilla L Spoehr Vice President & Treasurer 8478665111 2025-10-02 1 1 Ariel Garcia P02244437 3126343400 2025-10-02 2024 2025-03-06 01:10:19Z Timothy E McGuire 1560 Sherman Ave Ste 200 Evanston IL 602014897 153315727 0 X www.nationalmerit.org X 1955 IL To conduct nationwide academic competitions for recognition and college undergraduate scholarships. 19 18 39 20 0 0 31219930 29846180 3252931 3002524 4644423 26243284 0 0 39117284 59091988 34574629 32753793 0 0 3963751 4301076 491250 136500 1833208 7157827 7487540 46187457 44678909 -7070173 14413079 159683845 160676185 8437344 7827646 151246501 152848539 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 39921078 32753793 3002524 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 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 39921078 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 25 0 1 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OR PA RI SC TN VA WA WV WI X Kamilla L Spoehr 8478665111 1560 Sherman Ave Ste 200 Evanston IL 602014897 Timothy E McGuire President 50.00 X X 445234 0 100294 Frank J Dellaquila Chairman 0.50 X X 0 0 0 Heidi B Jark Vice Chairman 0.50 X X 0 0 0 Peter C Jennings Vice Chairman 0.50 X X 0 0 0 Richard C Benson Director 0.50 X 0 0 0 Brad R Carson 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 Colleen M Harsin Director 0.50 X 0 0 0 Michael G Johnson Director 0.50 X 0 0 0 Erin B Kohl Director 0.50 X 0 0 0 Jeremy J Lowe Director 0.50 X 0 0 0 Rosemary E Matzl Director 0.50 X 0 0 0 Thomas E Pittman Director 0.50 X 0 0 0 Mark E Reed Director 0.50 X 0 0 0 Charles F Robinson Director 0.50 X 0 0 0 Susan T Sadler Director 0.50 X 0 0 0 Justin C Walker Director 0.50 X 0 0 0 Wendy A Watkins Director 0.50 X 0 0 0 Brian P Sinchak Past Director 0.50 X 0 0 0 David L Stubblefield Past Director 0.50 X 0 0 0 Kamilla L Spoehr Vice President and Treasurer 40.00 X 186894 0 63620 Kimberly C Greiner Vice President 40.00 X 137183 0 48018 Richard L Sevcik Corporate Secretary 0.50 X 0 0 0 Yucheng Yuan Exec. Director of IT 40.00 X 150520 0 36180 Sean M MacCready ED of Scholar & Donor Svcs (until 1/24/25) 40.00 X 154958 0 49413 Nancy A Bogart Exec. Dir. of Sponsor Services 40.00 X 121534 0 43898 Joon K Han Director of IT 40.00 X 117497 0 51382 Eileen M Artemakis Exec. Dir. of Public Information 40.00 X 111020 0 47781 1424840 0 440586 9 0 1 0 Computer Aid Inc 1390 Ridgeview Drive Allentown PA 18104 IT Consultant 2634144 CapGemini America Inc 79 Fifth Ave 3rd Floor New York NY 10003 IT Consultant 1484395 RT New Ventures LLC 10517 Royal Porthcawl Drive Naperville IL 60564 IT Consultant 650869 Community Counselling Service LLC 527 Madison Ave 5th Floor New York NY 10022 Fundraising Services 399115 John Drake & Associates LLC 1919 S Highland Ave Ste B-202 Lombard IL 60148 IT Services 352536 8 29846180 9378 29846180 Test Fee Revenue 900099 3000000 3000000 Sponsor Admin Service 561000 2524 2524 3002524 2084473 2084473 118382550 94223739 24158811 24158811 24158811 59091988 3002524 0 26243284 32753793 32753793 841900 186197 500240 155463 2466334 1580580 517754 368000 417026 235626 126021 55379 345888 208283 89872 47733 229928 131468 63508 34952 251655 17118 209380 25157 57661 57661 136500 136500 280544 280544 391332 142042 45259 204031 321983 179707 10025 132251 5279920 3953176 795370 531374 537994 349696 107599 80699 63634 791 48603 14240 113988 81690 32298 62501 40625 12500 9376 120573 60286 60287 Fundraiser Travel 5755 5755 44678909 39921078 2924623 1833208 150 150 6387727 5971460 247240 31731 160751 190580 23679715 23557709 152818 122006 140880772 144845099 6248782 4216739 5605605 5298420 159683845 160676185 806822 708013 1825213 1582541 5805309 5537092 8437344 7827646 X 145065204 146219344 6181297 6629195 151246501 152848539 159683845 160676185 14413079 -12811041 0 X 0 1 X 1 0 X 33654056 33483270 32789948 31219930 29846180 160993384 33654056 33483270 32789948 31219930 29846180 160993384 8194936 152798448 979775 1309363 2177546 2526463 2084473 9077620 170071004 16510892 0.89840 0.89990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44261865 44261865 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 6128797 0 670331 232433 6566695 5298817 150000 884932 204952 6128797 5527957 10088 239228 5298817 6191379 -429673 233749 5527957 5102064 1282661 193346 6191379 0.00000 1.00000 0.00000 0 0 371643 340092 31551 236552 205791 30761 23071520 23011826 59694 122006 Lease Liability - Operating 5537092 5537092 X 46000403 -12811041 -12811041 58811444 280544 280544 59091988 44398365 0 44398365 280544 280544 44678909 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. X X X X X 1 Community Counselling Service Co LLC 155 North Wacker Suite 1790 Chicago IL 60606 Fundraising planning and strategy 0 0 136500 -136500 136500 -136500 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC 1 National Merit Program Scholarship Grants 22730 32753793 Part I, Line 2: In order to monitor the use of the scholarship grants, NMSC sends scholarship payments directly to the colleges and universities enrolling Scholars. Each institution receives a roster identifying individual Scholars and the scholarship amount intended for each student. NMSC instructs the institution to verify each Scholar's eligibility for the scholarship prior to applying the payment to each Scholar's university account. If the student is ineligible for the payment, NMSC asks the college or university to refund the payment to NMSC. Each Scholar has an agreement with NMSC that specifically states that scholarship payments can only be used for college undergraduate expenses and that any unused portion of the scholarship must be returned to NMSC. X X X X X 0 0 0 0 0 0 0 1 0 Timothy E McGuire President 404234 0 41000 0 0 0 61805 0 38489 0 545528 0 0 0 Kamilla L Spoehr Vice President and Treasurer 186894 0 0 0 0 0 31713 0 31907 0 250514 0 0 0 Sean M MacCready ED of Scholar & Donor Svcs (until 1/24/25) 154958 0 0 0 0 0 13320 0 36093 0 204371 0 0 0 Yucheng Yuan Exec. Director of IT 150520 0 0 0 0 0 23250 0 12930 0 186700 0 0 0 Kimberly C Greiner Vice President 137183 0 0 0 0 0 22537 0 25481 0 185201 0 0 0 Joon K Han Director of IT 117497 0 0 0 0 0 19590 0 31792 0 168879 0 0 0 Nancy A Bogart Exec. Dir. of Sponsor Services 121534 0 0 0 0 0 19886 0 24012 0 165432 0 0 0 Eileen M Artemakis Exec. Dir. of Public Information 111020 0 0 0 0 0 19005 0 28776 0 158801 0 0 0 Part I, Line 7 During the tax year 2024, the following individual received a bonus payment: Timothy E. McGuire $41,000 This payment is reported as taxable compensation on Part II, Column (B)(ii). Form 990, Part VI, Section A, line 4 The Bylaws of NMSC were amended and restated on May 28, 2025. The significant changes to the Bylaws included the following: (i) clarified that NMSC does not have any voting members under Illinois law, (ii) amended those provisions addressing notice to the directors of special and regular Board of Directors meetings, (iii) clarified that the directors can meet by conference technology in accordance with Illinois law, (iv) confirmed the authority of the Executive Committee of the Board of Directors in accordance with Illinois law, and (v) created a Development Committee of the Board of Directors and revised the duties and functions of the Audit and Finance Committee. 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. 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 provided to NMSC's 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.