Overview
What is The Memorial Foundation Inc?
The Memorial Foundation Inc, headquartered in Washington D.C., is a nonprofit organization with a mission to promote awareness and education regarding the Martin Luther King Jr. Memorial and its significance in American history, particularly the Civil Rights Era. The foundation achieves this objective by organizing events, hosting programs, and creating innovative educational initiatives. Their goal is to encourage dialogue, honor individuals who embody the memorial's core values, and contribute to its upkeep. The organization employs a modest team of three individuals.
Official website here: www.thememorialfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
The Memorial Foundation Inc has achieved an 80% rating from Charity Navigator, which indicates a solid performance in terms of accountability and finance. This score reflects a strong governance structure, as evidenced by the foundation having 100% independent board members and a well-sized board, contributing positively to its oversight and decision-making processes.
The organization demonstrates robust financial practices, illustrated by its clean audit and absence of material asset diversion. Additionally, it maintains necessary policies such as conflict of interest and whistleblower protections, ensuring transparency and ethical governance. The foundation's financial health is further backed by a reasonable liabilities-to-assets ratio, showcasing its ability to manage obligations.
However, the program expense ratio at 56.85% suggests that a significant portion of its expenses may not be directed towards its core programs. This could indicate room for improvement in programmatic efficiency to enhance the impact of its charitable activities. Overall, while The Memorial Foundation Inc has notable strengths, focusing on optimizing program expenditures could elevate its overall effectiveness further.
This AI summary has been generated from information found on Charity Navigator.
Is The Memorial Foundation Inc legitimate?
The Memorial Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Memorial Foundation 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: $99,750
Other Salaries and Wages: $437,746
For more financial information, click here
Official website here: www.thememorialfoundation.org
What is the mission statement of The Memorial Foundation Inc?
The Memorial Foundation's mission is centered around promoting awareness of the Martin Luther King Jr. Memorial, located in Washington D.C., and its fundamental principles of democracy, justice, hope, and love. To achieve this, the foundation develops innovative educational programs. Furthermore, it provides opportunities for the exchange of ideas, honors individuals who embody these tenets, and encourages the maintenance of the Martin Luther King Jr. Memorial, aiming to attract visitors.
Official website here: www.thememorialfoundation.org
What is the revenue of The Memorial Foundation Inc?
The Memorial Foundation Inc's revenue in 2023 was $983,780.
Official website here: www.thememorialfoundation.org
Who are the executives of The Memorial Foundation Inc and what are their salaries?
The average compensation at The Memorial Foundation Inc during 2023 was $145,915. There are 3 employees at The Memorial Foundation Inc.
Here are 14 key members and their salaries:
- Compensation: $622,604
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- Other: $27,000
- Compensation: $103,476
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- Other: $0
Official website here: www.thememorialfoundation.org
Where can I find the form 990 for The Memorial Foundation Inc?
The Memorial Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thememorialfoundation.org
Learn more at the official website: www.thememorialfoundation.org
Mission Statement of The Memorial Foundation Inc
The Memorial Foundation, a dedicated organization, aims to promote awareness of the Martin Luther King Jr. Memorial situated in Washington, D.C., and the principles it represents: democracy, justice, hope, and love. To accomplish this mission, they devise innovative educational programs. The foundation also strives to provide opportunities for meaningful exchanges of ideas and to honor individuals who embody these core values. Moreover, it encourages visitors to engage with the Martin Luther King Jr. Memorial, ensuring its future upkeep.
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Impact
July, 2024
The Memorial Foundation Inc has made a significant impact by promoting awareness of the Martin Luther King Jr. Memorial located in Washington, D.C. The foundation's focus on democracy, justice, hope, and love has inspired educational programs and events that highlight the importance of the memorial in American history and the civil rights era. By organizing these initiatives, the foundation encourages meaningful exchanges of ideas and honors individuals who embody the values of the memorial. Overall, The Memorial Foundation Inc plays a crucial role in preserving the legacy of Martin Luther King Jr. and advocating for the upkeep of the memorial for future generations.
This information is meant to be a general summary of The Memorial Foundation 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 2023.
- Program Service Revenue: $105
- Gross Receipts: $983,780
Assets and Liabilities:
- Total Assets: $2,013,420
- Total Liabilities: $736,565
- Net Assets: $1,276,855
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER REVENUE
Revenue
$105
Organization Details
Founding Year
2012
Principal Officer
Harry Johnson Sr
NTEE Category
Code: A99 - Arts
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