Memorial Apartments Corporation

Analysis

Memorial Apartments Corporation is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 1965, 61 years ago. 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, Memorial Apartments Corporation reported income of $379k and spending of $931k, spending 246% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $14k to $379k (+2689%), an average of +130% a year. The sharpest change came in the year to December 2020, when income rose by 840%. Over the whole period it spent 37% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Apartments Corporation sits at the 64th 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 65th percentile within MD. Charities of a similar size with the same main cause include Minnesota Academy of Science ($379k), Foundation of the Arc of the United States ($379k) and Hatfield Volunteer Fire Company 1 of Hatfield Pa ($379k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. At year end it held assets of $28.7m against liabilities of $11.9m, net assets of $16.7m.