Memorial Foundation For Children
- Assets
- $14.6m
- Revenue
- $980.1k
- Investments
- $14.4m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 11/1972
- Data as of
- 12/2023
- EIN
- 54-0536103
Organization Overview
Memorial Foundation For Children is located in Richmond, VA. The organization was established in 1972. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Foundation For Children 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 For Children generated $980.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 5 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORIAL FOUNDATION FOR CHILDREN MAKES GRANTS TO QUALIFYING CHARITABLE ORGANIZATIONS AND DOES NOT DIRECTLY CARRY ON ANY CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lucille Lindamood President | 0 | $0 | |
See Attached Schedule Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,650 |
| Interest on Savings | $340 |
| Dividends & Interest | $485,845 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $473,229 |
| Capital Gain Net Income | $473,229 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $980,064 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,341 |
| Depreciation | $0 |
| Occupancy | $720 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,732 |
| Total operating and administrative expenses | $109,244 |
| Contributions, gifts, grants paid | $967,150 |
| Total expenses and disbursements | $1,076,394 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,049 |
| Savings and temporary cash investments | $136,370 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,558,129 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Memorial Foundation For Children has awarded $967,150 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED SCHEDULE PURPOSE: GENERAL | $966,600 |
ST STEPHEN'S CHURCH PURPOSE: GENERAL | $250 |
FEED MORE PURPOSE: HEALTH | $100 |
COMMUNITIES IN SCHOOLS PURPOSE: EDUCATION | $100 |
STEWARD SCHOOL PURPOSE: EDUCATION | $100 |