Memories of Love Foundation Inc

Nonprofit profile at a glance

EIN
134298184
IRS 990-EZ coverage
2014–2016
Forms available
Form 990-EZ 2016
Location
Jacksonville, FL, USA
Phone
9043747485
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$31,542
Expenses
$92,780
Assets
$14,230

Source: IRS Form 990-EZ. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • MELVIN GOTTLIEB (Director/Pres)
  • J MICHAEL DRINKWATER (Dir/Sec-Treas)
  • LINDA LANDWIRTH (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To create joyful memories for children whose parents have a life-threatening illness.

What it reported doing in 2016

Memories of Love Foundation helps create joyful, lasting and loving memories for children of parents with a life-threatening illness. During the fiscal year, Memories of Love sent 80 families to Orlando, Florida for a five-day, fun-filled memory trip far removed from mounting medical bills, therapy and hospital visits. Memories of Love provides a treasured family time where children with an ill parent can return home with a suitcase full of special memories to be unpacked and relived for many years to come.Pursuant to Form 990-EZ instructions, the following items were not included in contribution income: $133,100 value of rooms donated by hotels $96,700 value of tickets donated by theme parks$1,420 value of advertisingContributions of hotel rooms and theme park tickets were used as follows:77 families received hotel rooms79 families received theme park tickets

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 100
  • Sustainability: 12
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.7%; rating input score 97

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -194.1%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -20.9% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -52.4% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -47% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $90K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2014 to 2016
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.