The Memorial Foundation INC

Tax-deductible

Washington, DC501(c)(3)Arts & CultureEIN 46-0758941

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The Memorial Foundation mission is to promote awareness of the martin luther king JR. Memorial located in washington,d.c. And its tenets of democracy, justice, hope, and love as well as to support the general upkeep of the Memorial in future years. The Memorial Foundation will achieve its mission by creating innovative educational programs.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$373K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $311K a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$373K
to officers and key staff · 22% of spending
Top officer’s pay higher than 94% of similar orgs
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $89K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$403K
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+66% vs prior year
Spent
$1.7M
To programs
72%
Net assets
$849K
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▲ +66%
Revenue by fiscal year
FY2020$1.3M
FY2021$3.7M
FY2022$1.8M
FY2023$984K
FY2024$1.6M
Expenses
$1.7M
FY2024▲ +28%
Expenses by fiscal year
FY2020$812K
FY2021$2.4M
FY2022$1.6M
FY2023$1.3M
FY2024$1.7M
Net assets
$849K
FY2024▼ -8%
Net assets by fiscal year
FY2020−$252K
FY2021$1.1M
FY2022$1.3M
FY2023$922K
FY2024$849K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $1.2M Management & general 19% · $319K Fundraising 9% · $160K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $373K paid to officers and key staff.

Part VII, Section A · reportable compensation
President an
$270,000Pt VII · Sec A
Finance Mana
$103,334Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Harry Johnson SR’s $270K as President an is at the 94th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Harry Johnson SR$270,000$622,604———
Harry Johnson——$421,786$275,200$275,200
James Simmons JR———$104,064—
James Simmons$103,334$103,476———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes awareness of the MLK Memorial and its ideals through educational programs.

Provided by the organization

This section is blank until The Memorial Foundation INC claims this page.

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1 program service account for $1.2M of program spending, described in the organization's own filed words · FY2024.
01

The memorial foundation planned, organized, and hosted several events and programs to promote awareness of the martin luther king memorial and its importances in american history and the education of the civil rights era.

$1.2Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$89K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Money outPt IX
$1.7M
Ln 25
Programscol B$1.2M
Managementcol C$319K
Fundraisingcol D$160K
Owns and owesPt X
$849K
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.3M
LiabilitiesLn 26$403K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$1.0M
Cash and savings togetherLn 1–2$1.0M
Other assetsLn 15$184K
Total assetsLn 16$1.3M
LiabilitiesLn 26$403K
Net assetsLn 32$849K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.0M$1.0M
Total assetsLn 16$1.0M$1.3M
LiabilitiesLn 26$114K$403K
Net assetsLn 32$922K$849K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$441K$322K$92K$27K
Other employee benefitsLn 9$65K$26K$37K$2K
Professional fundraising feesLn 11e$130K$130K
Other fees for servicesLn 11g$151K$115K$37K
Office expensesLn 13$2K$2K
Information technologyLn 14$12K$12K
OccupancyLn 16$76K$76K
TravelLn 17$26K$26K
InterestLn 20$3K$3K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$795K$766K$29K
Total functional expensesLn 25$1.7M$1.2M$319K$160K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.6M$1.7M−$72K$849K 990 PDF
FY2023 $984K$1.3M−$355K$922K 990 PDF
FY2022 $1.8M$1.6M$209K$1.3M 990 PDF
FY2021 $3.7M$2.4M$1.3M$1.1M 990 PDF
FY2020 $1.3M$812K$453K−$252K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,635,698 across 3 lines filed
VIII-1f All other contributions, gifts and grants$1,635,698
VIII-1h Total contributions, gifts and grants$1,635,698
VIII-12 Total revenue$1,635,698
Part IX · Statement of functional expenses $1,708,148 across 11 lines filed
IX-7 Other salaries and wagesPrograms $322,221 · Management $92,202 · Fundraising $27,000$441,423
IX-9 Other employee benefitsPrograms $26,017 · Management $36,714 · Fundraising $2,180$64,911
IX-11e Professional fundraising feesFundraising $130,500$130,500
IX-11g Other fees for servicesPrograms $114,503 · Management $36,694$151,197
IX-13 Office expensesManagement $2,155$2,155
IX-14 Information technologyManagement $11,520$11,520
IX-16 OccupancyManagement $75,632$75,632
IX-17 TravelManagement $25,675$25,675
IX-20 InterestManagement $2,674$2,674
IX-23 InsuranceManagement $7,433$7,433
IX-24 Other expenses (24a–d)Programs $766,283 · Management $28,745$795,028
IX-25 Total functional expensesPrograms $1,229,024 · Management $319,444 · Fundraising $159,680$1,708,148
Part X · Balance sheet $1,252,342 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,032,110$1,025,871
X-3 Pledges and grants receivable$30,000
X-9 Prepaid expenses and deferred charges$12,417
X-15 Other assetsStart of year $3,445$184,054
X-16 Total assetsStart of year $1,035,555$1,252,342
X-17 Accounts payable and accrued expensesStart of year $28,512$17,766
X-19 Deferred revenueStart of year $65,000$200,000
X-25 Other liabilitiesStart of year $3,536$185,155
X-26 Total liabilitiesStart of year $113,684$402,921
X-27 Net assets without donor restrictionsStart of year $921,871$849,421
X-32 Total net assets or fund balancesStart of year $921,871$849,421
X-33 Total liabilities and net assetsStart of year $1,035,555$1,252,342
Part XI · Reconciliation of net assets $849,421 net assets at year end
XI-1 Total revenue$1,635,698
XI-2 Total expenses$1,708,148
XI-3 Revenue less expenses−$72,450
XI-4 Net assets at start of year$921,871
XI-10 Net assets at end of year$849,421

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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