Quick charity verification for Memakon Inc (EIN: 141843197)
Verdict: Memakon Inc appears trustworthy
85/100Mission Score
$505KRevenue
$127KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Zero officer compensation reported across all filings, indicating volunteer leadership and efficient use of funds.
Consistent revenue generation over a decade, demonstrating stable donor support.
Significant growth in assets from $6,000 to $127,054, indicating improving financial health.
Low to no reported liabilities in recent filings, suggesting sound financial management.
Positive net income in 2023 ($389,047 revenue vs. $349,765 expenses) contributing to asset growth.
Spending Breakdown
How Memakon Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Memakon Inc
Is Memakon Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Memakon Inc (EIN: 141843197) appears trustworthy. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
Is Memakon Inc a good charity to donate to?
Memakon Inc has a Mission Score of 85/100. Revenue: $505K. Assets: $127K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Memakon Inc?
The Employer Identification Number (EIN) for Memakon Inc is 141843197. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Memakon Inc spend its money?
Memakon Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Memakon Inc's tax-exempt status?
You can verify Memakon Inc's tax-exempt status using EIN 141843197 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Memakon Inc. demonstrates a generally stable financial position with consistent revenue generation over the past decade, averaging around $250,000 annually, with a notable increase in recent years, reaching $389,047 in 2023. The organization consistently reports zero officer compensation across all available filings, which is a strong indicator of volunteer leadership and efficient use of donor funds for programmatic activities. While specific breakdowns of program, administrative, and fundraising expenses are not detailed in the provided summary, the consistent reporting of expenses closely matching revenue in many periods suggests a lean operational model. The growth in assets from $6,000 in earlier years to $49,862 in 2023, and current assets of $127,054, indicates a positive trend in financial accumulation and stability.
The organization's financial health appears sound, with a positive net income in 2023 ($389,047 revenue vs. $349,765 expenses) contributing to asset growth. The absence of reported liabilities in most recent filings also points to good financial management. However, without a detailed functional expense statement, it's challenging to precisely assess spending efficiency across program, administrative, and fundraising categories. The consistent zero officer compensation is a significant positive for transparency and donor trust.