Overview
What is New York Memory Center Inc?
New York Memory Center Inc is a nonprofit organization located in Brooklyn, New York, specifically at 199 14th Street. The organization operates as a community-based agency, dedicated to supporting adults who face cognitive, physical, and emotional limitations. Its mission is to help these individuals live beyond their diagnosis of memory loss, offering a range of services aimed at enhancing their quality of life. The nonprofit is home to a team of 12 dedicated professionals.
Official website here: www.nymemorycenter.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Overall score: 66%, earning a Two-Star out of Four Star rating. The New York Memory Center Inc has received a mixed evaluation, indicating potential areas of concern in its accountability and financial practices. While the organization boasts a fully independent board, which is a positive sign of governance, several key financial transparency elements are lacking.
Strengths include a solid program expense ratio of 66.67%, suggesting that a significant portion of funds is directed toward programmatic activities. The board's independence and the existence of policies regarding conflicts of interest and whistleblower protections are also noteworthy. However, the organization has not provided necessary financial statements and lacks a document retention policy, which detracts from its overall financial accountability.
Limitations become apparent through its lack of transparency, as it has not posted tax forms on its website and is missing important documentation related to financial management. With a liabilities to assets ratio of nearly 60%, this could indicate potential financial risks. Overall, while the New York Memory Center Inc has some strengths in governance, it must address its financial reporting and transparency issues to improve its standing.
This AI summary has been generated from information found on Charity Navigator.
Is New York Memory Center Inc legitimate?
New York Memory Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New York Memory Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $255,126
For more financial information, click here
Official website here: www.nymemorycenter.org
What is the mission statement of New York Memory Center Inc?
The New York Memory Center Inc, serving as a free-standing, community-based non-profit agency, is dedicated to assisting adults who are grappling with cognitive, physical, and emotional limitations, following a diagnosis of memory loss. Its mission is to facilitate these individuals in enjoying life beyond their diagnosis, providing them with essential services. The center aims to create an environment that empowers them to lead fulfilling lives, offering support beyond the medical aspect of their condition.
Official website here: www.nymemorycenter.org
Who is the CEO of New York Memory Center Inc?
Melissa Sheehan is the Board Chair of New York Memory Center Inc.
Official website here: www.nymemorycenter.org
What is the revenue of New York Memory Center Inc?
New York Memory Center Inc's revenue in 2022 was $602,792.
Official website here: www.nymemorycenter.org
Who are the executives of New York Memory Center Inc and what are their salaries?
The average compensation at New York Memory Center Inc during 2022 was $21,260. There are 12 employees at New York Memory Center Inc.
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Official website here: www.nymemorycenter.org
Where can I find the form 990 for New York Memory Center Inc?
New York Memory Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nymemorycenter.org
Learn more at the official website: www.nymemorycenter.org
Mission Statement of New York Memory Center Inc
The New York Memory Center Inc, a community-based non-profit organization, is dedicated to providing support for adults who are diagnosed with cognitive, physical, and emotional limitations, helping them to enjoy life beyond their diagnosis of memory loss. This mission-driven agency operates with the goal of assisting these individuals in overcoming their challenges and making the most of their lives. By offering a range of services, the New York Memory Center Inc aims to enhance the quality of life for its clients, providing them with the resources and care they need to live beyond their diagnosis.
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Impact
July, 2024
New York Memory Center Inc has a significant impact on the lives of adults with cognitive, physical, and emotional limitations. By providing essential services and support, they are helping individuals diagnosed with memory loss to continue enjoying life to the fullest. Their community-based approach ensures that those affected by these limitations have access to the care and resources they need to thrive. Through their efforts, New York Memory Center Inc is making a positive difference in the lives of those facing memory loss and its associated challenges.
This information is meant to be a general summary of New York Memory Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $764
- Program Service Revenue: $324,033
- Gross Receipts: $602,792
Assets and Liabilities:
- Total Assets: $242,536
- Total Liabilities: $49,490
- Net Assets: $193,046
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$324,033
Organization Details
Founding Year
1983
Phone
(718) 499-7701Principal Officer
Melissa Sheehan
Main Address
199 14TH STREET, BROOKLYN, NY, 11215
Website
www.nymemorycenter.orgNTEE Category
Code: G90 - Disease
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