Memakon Inc
Memakon Inc. shows consistent revenue and zero officer compensation, with growing assets.
EIN: 141843197 · Chattanooga, TN · NTEE: B99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $505K |
| Total Expenses | $350K |
| Program Spending | 85% |
| Net Assets | $50K |
| Transparency Score | 85/100 |
Is Memakon Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Memakon Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Memakon Inc
Memakon Inc (EIN: 141843197) is a nonprofit organization based in Chattanooga, TN, classified under NTEE code B99. The organization reported total revenue of $505K and total assets of $127K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Memakon Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Memakon Inc is a small nonprofit that has been operating for 22 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 23.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $389K |
| Total Expenses | $350K |
| Surplus / Deficit | +$39K |
| Total Assets | $50K |
| Net Assets | $50K |
| Operating Margin | 10.1% |
| Months of Reserves | 1.7 months |
Financial Health Grade: A
In 2023, Memakon Inc reported a surplus of $39K with revenue exceeding expenses, holds 1.7 months of operating reserves (limited).
Financial Trends
Over 12 years of filings (2011–2023), Memakon Inc's revenue has grown at a compound annual growth rate (CAGR) of 23.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +54.1% | +44.6% | +200.7% |
| 2022 | +12.4% | +7.7% | +18.3% |
| 2020 | -9.3% | -9.6% | +44.1% |
| 2019 | -5.4% | -3.5% | -6.8% |
| 2018 | -4.7% | -6.3% | +74.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Memakon Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Memakon Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $39K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly efficient for a nonprofit of this size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Memakon Inc:
- 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.
Frequently Asked Questions about Memakon Inc
Is Memakon Inc a legitimate charity?
Memakon Inc (EIN: 141843197) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $505K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Memakon Inc spend its money?
Memakon Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Memakon Inc tax-deductible?
Memakon Inc is registered as a tax-exempt nonprofit (EIN: 141843197). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Memakon Inc's spending goes to programs?
Memakon Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Memakon Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Memakon Inc is above average for NTEE category B99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Memakon Inc located?
Memakon Inc is headquartered in Chattanooga, Tennessee and files with the IRS under EIN 141843197. It is classified under NTEE code B99.
How many years of IRS 990 filings does Memakon Inc have?
Memakon Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $505K in total revenue.
Is Memakon Inc. a good charity?
Based on the available IRS 990 data, Memakon Inc. appears to be a well-managed charity. It consistently operates with zero officer compensation, indicating a strong commitment to directing funds towards its mission. The organization has shown consistent revenue and recent asset growth, suggesting financial stability.
How has Memakon Inc.'s financial health changed over time?
Memakon Inc. has shown consistent revenue generation over the past decade, generally in the $200,000-$300,000 range, with a notable increase to $389,047 in 2023. Its assets have grown significantly from $6,000 in earlier periods to $49,862 in 2023, and currently stand at $127,054, indicating improving financial health and stability.
What is Memakon Inc.'s approach to executive compensation?
Memakon Inc. reports 0% officer compensation in all available IRS 990 filings. This indicates that the organization's leadership is entirely volunteer-based, which is a highly efficient and transparent approach to executive compensation.
Filing History
IRS 990 filing history for Memakon Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Memakon Inc's revenue has grown by 1201.5%, moving from $30K to $389K. Total assets increased by 4986100% over the same period, from $1 to $50K. Total functional expenses rose by 1070.1%, from $30K to $350K. In its most recent filing year (2023), Memakon Inc reported a surplus of $39K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $389K | $350K | $50K | $0 | — | — |
| 2022 | $252K | $242K | $17K | $6K | — | View 990 |
| 2020 | $225K | $225K | $14K | $14K | — | View 990 |
| 2019 | $248K | $248K | $10K | $0 | — | View 990 |
| 2018 | $262K | $257K | $10K | $0 | — | View 990 |
| 2017 | $275K | $275K | $6K | $0 | — | View 990 |
| 2016 | $197K | $197K | $6K | $0 | — | View 990 |
| 2015 | $215K | $215K | $6K | $0 | — | View 990 |
| 2014 | $311K | $311K | $6K | $0 | — | View 990 |
| 2013 | $304K | $304K | $6K | $0 | — | View 990 |
| 2012 | $30K | $30K | $0 | $0 | — | View 990 |
| 2011 | $30K | $30K | $1 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $389K, expenses of $350K, and assets of $50K (revenue +54.1% year-over-year).
- 2022: Revenue of $252K, expenses of $242K, and assets of $17K (revenue +12.4% year-over-year).
- 2020: Revenue of $225K, expenses of $225K, and assets of $14K (revenue -9.3% year-over-year).
- 2019: Revenue of $248K, expenses of $248K, and assets of $10K (revenue -5.4% year-over-year).
- 2018: Revenue of $262K, expenses of $257K, and assets of $10K (revenue -4.7% year-over-year).
- 2017: Revenue of $275K, expenses of $275K, and assets of $6K (revenue +39.8% year-over-year).
- 2016: Revenue of $197K, expenses of $197K, and assets of $6K (revenue -8.5% year-over-year).
- 2015: Revenue of $215K, expenses of $215K, and assets of $6K (revenue -31.0% year-over-year).
- 2014: Revenue of $311K, expenses of $311K, and assets of $6K (revenue +2.6% year-over-year).
- 2013: Revenue of $304K, expenses of $304K, and assets of $6K (revenue +901.3% year-over-year).
- 2012: Revenue of $30K, expenses of $30K, and assets of $0 (revenue +1.4% year-over-year).
- 2011: Revenue of $30K, expenses of $30K, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Memakon Inc:
Data Sources and Methodology
This transparency report for Memakon Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.