Memorial Foundation Inc

Analysis

Memorial Foundation Inc is a registered charity in United States, based in Hollywood, FL. It received its IRS tax-exemption ruling in May 1981, 45 years ago. 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, Memorial Foundation Inc reported income of $5.3m and spending of $8.3m, spending 156% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $5.3m (+127%), an average of +23% a year. The sharpest change came in the year to December 2020, when income rose by 58%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Time for Change Foundation ($5.3m), Cornerstone Rescue Mission ($5.3m) and The Alumni and Friends of Fiorello H Laguardia High School Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $38.4m against liabilities of $1.6m, net assets of $36.8m.