Merrimack College
91% goes to programs $17 to raise $100 Strong reserves Growing revenue
Merrimack College is a 501(c)(3) organization based in North Andover, Massachusetts, registered in 1947, with $323,088,151 in FY2023 revenue. CharityIndex grades it A, and it directs about 91% of spending to programs.
315 Turnpike St, North Andover, MA, 01845 EIN 04-2103731 Since 1947
Revenue (FY2023)
$323.1M
▲ 10.9% vs prior year
Education median: $200K
Expenses (FY2023)
$301.5M
Net assets
$210.9M
Employees
2,183
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating91% to programs · $17 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Merrimack College: 91% to programs · $17 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating8 mo reserves · +7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Merrimack College: 8 mo reserves · +7% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Merrimack College: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Merrimack College: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Merrimack college is a comprehensive, catholic augustinian institution of higher education.
What they do
Auxiliary services: a primarily residental college, merrimack houses students in a variety of living arrangements, from residence halls for first-year students to apartments for seniors. residential life provides a living/learning environment, promoting personal growth and encouraging students to develop their whole selves. merrimack dining service seeks to provide the finest quality meals and services to the entire merrimack community: students, faculty, staff and guests. the college also has athletic facilities, including softball, football, basketball, ice rinks, boat house, and track and field facilities.
Student services: merrimack college provides various services to the student body, including counseling, career guidance, financial aid, registrar, student activities, campus ministry, health services and athletic programs.
Academic support - merrimack college's academic success center provides personalized support through academic success coaching, accessibility services, tutoring through the math and writing centers, and offers collaborative spaces for peer-to-peer learning and academic excellence all within the mcquade library. collectively, these resources underscore merrimack college's commitment to nurturing a supportive academic environment that empowers all students to achieve their educational goals.
Contact & location
- Address
- 315 Turnpike St, North Andover, MA, 01845
- City
- North Andover
- State
- Massachusetts
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $127.1M (FY2013) to $323.1M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $191.5MNet assets $210.9M
Operating margin
6.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$402.4M
Total liabilities
$191.5M
Net assets
$210.9M
Salaries & benefits
$90.6M
30% of expenses
Board members
26
25 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $323,088,151▲10.9% | $301,533,780▲8.3% | $210,901,993▲12.1% | $402,359,036▲5.9% | 990 |
| 2022 | $291,242,191▲5.3% | $278,514,238▲6.1% | $188,060,645▲10.8% | $380,055,246▲13.1% | 990 |
| 2021 | $276,620,541▲6.5% | $262,422,038▲9.1% | $169,793,217▲1.2% | $336,077,023▲3.4% | 990 |
| 2020 | $259,690,431▲11.0% | $240,536,507▲8.1% | $167,811,593▲21.8% | $325,006,014▲17.3% | 990 |
| 2019 | $233,932,785▲8.3% | $222,531,333▲7.8% | $137,758,124▲6.1% | $276,990,380▲3.6% | 990 |
| 2018 | $216,093,052▲11.6% | $206,334,218▲11.8% | $129,777,947▲7.8% | $267,280,022▲2.4% | 990 |
| 2017 | $193,635,633▲6.2% | $184,520,061▲7.8% | $120,378,713▲10.4% | $261,030,125▲3.8% | 990 |
| 2016 | $182,254,937▲6.5% | $171,190,107▲12.0% | $109,070,918▲17.0% | $251,432,441▲25.8% | 990 |
| 2015 | $171,201,736▲16.5% | $152,829,705▲12.1% | $93,259,373▲5.7% | $199,865,836▼2.0% | 990 |
| 2014 | $146,940,792▲15.6% | $136,293,472▲12.5% | $88,264,619▲14.1% | $203,844,093▲21.3% | 990 |
| 2013 | $127,124,755 | $121,115,888▲15.1% | $77,374,343▲16.8% | $168,103,963▲8.0% | 990 |
| 2012 | — | $105,215,674▲7.5% | $66,235,844▲2.6% | $155,591,280▲27.8% | 990 |
| 2011 | — | $97,875,010▲15.2% | $64,528,785▼6.9% | $121,723,369▼1.1% | 990 |
| 2010 | — | $84,953,859▲8.7% | $69,277,947▲4.2% | $123,129,389▲2.7% | 990 |
| 2009 | — | $78,189,447 | $66,488,101 | $119,943,173 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Christopher E Hopey Phd — $1,024,844 (0.34% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Christopher E Hopey Phd | President | 40 | $1,024,844 |
| Jeffrey Doggett Edd | Evp/cfo & Chancellor of Learning | 40 | $534,926 |
| Joseph Gallo | Basketball Head Coach | 40 | $354,474 |
| Allison Gill Edd | Svp Student Affairs & Success, Coo | 40 | $344,529 |
| Scott Borek | Hockey Head Coach | 40 | $319,706 |
| John Condon Phd | Svp, Academic Affairs & Provost | 40 | $315,720 |
| Jeremy Gibson | Vp Athletic & Deputy Chief of Staff | 40 | $313,081 |
| Jose Sanchez Phd | Dean, Science & Engineering | 40 | $284,282 |
| Nicholas Mcdonald Esq | Senior Legal Counsel | 40 | $250,006 |
| Caitlyn Bosworth Esq | Vp, General Counsel & Asst Secretary | 40 | $202,689 |
| Alfred Arcidi | Trustee | 1 | — |
| Alvin M Chapital III | Trustee | 1 | — |
| Bruce Bouchard | Trustee | 1 | — |
| Dennis Leonard | Trustee | 1 | — |
| Francis Duane | Trustee | 1 | — |
| James E Scammon | Trustee | 1 | — |
| Joanne Bentley | Trustee | 1 | — |
| John T Boyce | Trustee | 1 | — |
| Karen J Cambray | Treasurer | 1 | — |
| Kevin Lucey | Chair | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Meteor Learning Inc | Professional Services | $6,846,928 |
| Procon Inc | Construction Services | $6,549,633 |
| Pimentel Construction Co Inc | Construction Services | $3,280,051 |
| Peace Plus Maintenance Corp | Janitorial Services | $1,149,657 |
| Coach Company | Transportation Services | $1,008,118 |
Grants received · $7.8M total
70 grants to Merrimack College totaling $7.8M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Online Giving Foundation Inc | General support | 2024 | $24,855 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $22,000 |
| Jewish Communal Fund | In furtherance of grantee's tax-exempt purpose | 2024 | $13,000 |
| Greater Horizons | Education | 2024 | $10,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $787,050 |
| Donor Advised Charitable Giving | Education | 2023 | $89,250 |
| American Online Giving Foundation Inc | General support | 2023 | $35,498 |
| Charities Aid Foundation America | Charitable donation | 2023 | $33,726 |
| Trustees of Boston University | Research | 2023 | $20,277 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2023 | $20,000 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $15,500 |
| National Philanthropic Tr | Health | 2023 | $15,000 |
| Trustees of Tufts College | Subcontract grant award | 2023 | $11,272 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $298,620 |
| Donor Advised Charitable Giving | Education | 2022 | $83,650 |
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Compare Merrimack College
Frequently asked questions
- Is Merrimack College a legitimate nonprofit?
- Yes. Merrimack College is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2103731, based in North Andover, Massachusetts. Donations are tax-deductible.
- What is Merrimack College's EIN?
- Merrimack College's Employer Identification Number (EIN) is 04-2103731.
- How much revenue does Merrimack College report?
- Merrimack College reported $323,088,151 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Merrimack College's spending goes to programs?
- Merrimack College spends about 91% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Merrimack College have?
- CharityIndex grades Merrimack College A, based on program efficiency and fundraising cost.
- How much does Merrimack College's highest-paid employee make?
- The highest reported compensation on Merrimack College's latest Form 990 is $1,024,844, paid to Christopher E Hopey Phd (President).
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Data for Merrimack College (EIN 04-2103731) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.