Smartmeme Inc

Analysis

Smartmeme Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in September 2006, 20 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 July 2023, Smartmeme Inc reported income of $1.7m and spending of $1.6m, spending 95% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.1m to $1.7m (+50%), an average of +11% a year. The sharpest change came in the year to July 2020, when income rose by 64%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Smartmeme Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Linn-Benton Community College Foundation Inc ($1.7m), Williamsburg Montessori School ($1.7m) and Michael M Boone Elementary Parent- Teacher Organization ($1.7m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $133k (8.3% of expenses). Other salaries and wages came to $810k. At year end it held assets of $3.1m against liabilities of $302k, net assets of $2.8m. It reported 14 employees.