Megan Schulman Memorial Foundation

Analysis

Megan Schulman Memorial Foundation is a registered charity in United States, based in Myrtle Beach, SC. It received its IRS tax-exemption ruling in July 2021, 5 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, Megan Schulman Memorial Foundation reported income of $58k and spending of $15k, leaving 74% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $58k (+24%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 30% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Megan Schulman Memorial Foundation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 29th percentile within SC. Charities of a similar size with the same main cause include Hope Center of Tulsa Inc ($58k), Joykc Inc ($58k) and Santas Cupboard ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 52% of the total. At year end it held assets of $191k against liabilities of $0, net assets of $191k.