Memorylane Care Services

Analysis

Memorylane Care Services is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Memorylane Care Services reported income of $1.2m and spending of $1.3m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.2m (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorylane Care Services sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Home Health Resources Inc ($1.2m), Satilla Health Foundation Inc ($1.2m) and Spectrum Health Care ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $134k (11% of expenses). Other salaries and wages came to $529k. At year end it held assets of $1.1m against liabilities of $617k, net assets of $474k. It reported 24 employees.