Memory Matters

Analysis

Memory Matters is a registered charity in United States, based in Hilton Head, SC. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Memory Matters reported income of $1.5m and spending of $1.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.5m (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Memory Matters sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within SC. Charities of a similar size with the same main cause include Praed Foundation ($1.5m), Homeshare Vermont Inc ($1.5m) and Scarc Foundation Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $152k (11% of expenses). Other salaries and wages came to $657k. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m. It reported 19 employees.