Southern Memorial Association

Analysis

Southern Memorial Association is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in June 1995, 31 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 June 2023, Southern Memorial Association reported income of $461k and spending of $455k, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $380k to $461k (+21%), an average of +6.6% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Southern Memorial Association sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within VA. Charities of a similar size with the same main cause include Arnot Art Museum ($460k), Childrens Ballet of San Antonio ($461k) and Beat the Odds ($460k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $65k (14% of expenses). Other salaries and wages came to $152k. At year end it held assets of $2.0m against liabilities of $16k, net assets of $2.0m. It reported 11 employees.