Memakon Inc

Analysis

Memakon Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in June 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Memakon Inc reported income of $389k and spending of $350k, spending 90% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $248k to $389k (+57%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 54%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Memakon Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within TN. Charities of a similar size with the same main cause include Raise a Child Carolinas ($389k), East Central Indiana Robotics Inc ($389k) and Public Education Foundation Inc ($389k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $76k. At year end it held assets of $50k against liabilities of $0, net assets of $50k.