Whaley Memorial Foundation

Analysis

Whaley Memorial Foundation is a registered charity in United States, based in Flint, MI. It received its IRS tax-exemption ruling in September 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Whaley Memorial Foundation reported income of $7.4m and spending of $8.3m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.4m to $7.4m (+0.4%), an average of +0.1% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Whaley Memorial Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Ican California Abilities Network ($7.4m), LA Colaborativa Inc ($7.4m) and Catholic Charities of the Diocese of Memphis Inc ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $341k (4.1% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $15.3m against liabilities of $929k, net assets of $14.4m. It reported 190 employees.