Memorial 7 Inc

Analysis

Memorial 7 Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 2022, Memorial 7 Inc reported income of $135k and spending of $134k, spending 100% of its income. Across the 2 years on record, from December 2021 to December 2022, income grew from $118k to $135k (+15%), an average of +15% a year. Over the whole period it spent 100% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Memorial 7 Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within TX. Charities of a similar size with the same main cause include United States National Rifle Team ($135k), Akron Inner City Soccer Club ($135k) and Challenge Elite Inc ($135k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $11k against liabilities of $0, net assets of $11k.