TruMerit
Nonprofit profile at a glance
- EIN
- 232026352
- IRS 990 coverage
- 2019–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Philadelphia, PA, USA
- Phone
- +1 (215) 222-8454
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Health Support Services
Reported finances
- Revenue
- $45,285,735
- Expenses
- $33,333,106
- Assets
- $77,646,069
- Liabilities
- $16,339,595
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- PETER PREZIOSI (PRESIDENT AND CEO)
- FRANKLIN SHAFFER (FORMER PRESIDENT AND CEO,)
Highest reported compensation
- PETER PREZIOSI (PRESIDENT AND CEO): $715,314 total reported compensation
- LEO CLAYBOSS (CHIEF FINANCIAL OFFICER): $303,571 total reported compensation
- MUKUL BAKHSHI (DIRECTOR OF GOVERNMENT AFF): $282,152 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To serve global nurses and allied healthcare workers with credentials evaluation and career mobility.
What it reported doing in 2024
The national nursing assessment service is a program to credential internationally educated nurses who seek employment in the canadian healthcare system. The credentialing utilizes curriculum, course syllabus, and other documents, principally from source educational institutions and agencies, to evaluate the internationally educated nurse in terms of canadian nursing practice. During the year, approximately 6,400 applications were reviewed and assessed and 6,359 reports were issued.
Operating model
- Revenue model
- Earned-program. 93% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 53
- Transparency & Controls: 54
- Accountability: 100
- Sustainability: 71
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 50.7%; rating input score 51
- Program expense ratio: 73.7%; rating input score 74
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 26.4%; rating input score 86; 86th percentile among comparable filings
- Total-asset coverage ratio: 2.33; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 57; 57th percentile among comparable filings
- Officer compensation ratio: 7.6%; rating input score 32; 32nd percentile among comparable filings
Growth
- Program expense growth: 13.4% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 23.9% per year; rating input score 100; 94th percentile among comparable filings
- Asset growth: 25.6% per year; rating input score 100; 94th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 3 operating locations identified
- Where the money goes: 50.7% of revenue deployed · 73.7% of spending went to programs
- Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 6 filed program accomplishments · $24.6M in reported program spending
- Leadership: top reported pay $715K · 19 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.5M reported
- Consistency: 31 of 31 current checks pass
- Schedules: 6 filed schedules · includes foreign activity and executive pay
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Financial Efficiency: Mission deployment rate scored 51/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 32/100.
- Review — Sustainability: Liabilities to assets ratio scored 57/100.