Passes our checks

Megan Schulman Memorial Foundation

EIN 86-2927008 · Myrtle Beach, SC

Public records show a registered, tax-exempt organization in good standing.

What it says it does

DONATIONS & SCHOLARSHIPS

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Good: 87 out of 100. Higher than 74% of charities in its peer group (human services, under $250k).

Reserves
35 of 35
Spendable reserves would cover 15.2 months of spending.
Debt
20 of 20
It owes 0% of what it owns.
Living within its means
4 of 15
Spending exceeded income by 11% of income.
Spending floor
15 of 15
95% of spending went to programs and raising each dollar of donations cost 6 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Weak: 19 out of 100. Higher than 3% of charities in its peer group (human services, under $250k).

Independent board
5 of 25
0 of 4 voting board members are independent.
Conflict of interest policy
0 of 15
Reports no written conflict of interest policy.
Whistleblower policy
0 of 8
Reports no written whistleblower policy.
Record keeping policy
0 of 7
Reports no written policy on keeping and destroying records.
Board minutes
0 of 5
Reports that it does not keep minutes of board meetings.
Board sees the tax return
0 of 10
Did not give the board a copy of this return before filing it.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)

$100,000 spent. MEGAN SCHULMAN PEDIATRIC VASCULAR ANOMALIES CLINIC AT K. HOVNANIAN CHILDREN'S HOSPITAL - TO EMPHASIZE COLLABORATIVE CARE FOR VASCULAR ANOMALIES PATIENTS.
$19,838 spent. CT CHILDREN'S FOUNDATION - TO IMPROVE THE PHYSCIAL, SOCIAL & EMOTIONAL HEALTH OF CHILDREN
$5,000 spent. PROVIDE ANNUAL SCHOLARSHIPS TO 3 DESERVING STUDENTS OF FREEHOLD TOWNSHIP HIGH SCHOOL
$5,000 spent. CHURCHILL BUTTERFLY EFFECT OF KINDNESS INITIATIVE - A PROGRAM THAT PROVIDES SMALL GRANTS TO STUDENTS TO PERFORM RANDOM ACTS OF KINDNESS.
$2,500 spent. ANNUAL HOLLY JOLLY HOLIDAY BREAKFAST-SERVE UNDERSERVED CHILDREN DURING THE HOLIDAY SEASON. SERVE HOT MEAL & PROVIDE HOLIDAY ACTIVITIES TO 50 DISADVANTAGED KIDS IN ST LOUIS AREA

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2021.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.