The Memorial Foundation
- Assets
- $1.0m
- Revenue
- $983.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Washington, DC
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 46-0758941
Organization Overview
The Memorial Foundation is located in Washington, DC. The organization was established in 2013. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Memorial Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Memorial Foundation generated $983.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Johnson Sr President An | Officer | 40 | $622,604 |
James Simmons Finance Mana | 40 | $103,476 | |
Michael Bennett Director | Trustee | 0.5 | $0 |
Ken Bentsen Director | Trustee | 0.5 | $0 |
Joe Bines Director | Trustee | 0.5 | $0 |
Zafar Brooks Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Showcall Inc Event Productio | 12/30/21 | $290,684 |
Susan Davis International Event Mgmt | 12/30/21 | $210,000 |
Marriott Marquis Hotel | 12/30/21 | $146,296 |
Common Lines Consulting Llc Fundraiser | 12/30/21 | $127,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $983,780 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $983,780 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $983,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $437,746 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,555 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $99,750 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,112 |
| Advertising and promotion | $0 |
| Office expenses | $9,663 |
| Information technology | $15,149 |
| Royalties | $0 |
| Occupancy | $88,060 |
| Travel | $24,371 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,045 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,677 |
| All other expenses | $0 |
| Total functional expenses | $1,338,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,032,110 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,445 |
| Total assets | $1,035,555 |
| Accounts payable and accrued expenses | $28,512 |
| Grants payable | $0 |
| Deferred revenue | $65,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $16,636 |
| Other liabilities | $3,536 |
| Total liabilities | $113,684 |
| Net assets without donor restrictions | $921,871 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,035,555 |