Memories Live Foundation

Analysis

Memories Live Foundation is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Memories Live Foundation reported income of $74k and spending of $88k, spending 118% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $126k to $74k (-41%), an average of -41% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Memories Live Foundation sits at the 33rd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 36th percentile within NJ. Charities of a similar size with the same main cause include Central Stage Theatre of County Kitsap ($74k), Los Amigos Del Arte Popular Inc ($74k) and Rosana Gamson-World Wide ($74k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $77k against liabilities of $0, net assets of $77k.