Ave Maria Foundation of Memphis Inc

Analysis

Ave Maria Foundation of Memphis Inc is a registered charity in United States, based in Bartlett, TN. It received its IRS tax-exemption ruling in October 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Ave Maria Foundation of Memphis Inc reported income of $767k and spending of $240k, leaving 69% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $231k to $767k (+232%), an average of +35% a year. The sharpest change came in the year to June 2023, when income rose by 62%. Over the whole period it spent 65% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ave Maria Foundation of Memphis Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within TN. Charities of a similar size with the same main cause include Covered Corporation ($767k), United Way of Marshall County Alabama-Inc ($767k) and Andrew Weishar Foundation ($767k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% of the total. Compensation of current officers, directors and key employees was $136k (57% of expenses). Other salaries and wages came to $41k. It paid $28k in professional fundraising fees. At year end it held assets of $6.8m against liabilities of $500, net assets of $6.8m.