Medical Research (H12) 990 on File

DAVID M CARMINES MEMORIAL FOUNDATION

EIN: 42-2454608 · HILTON HEAD, SC 29925-2519 · United States · FY 2024 Data

2 out of 5 30 / 100 Based on 2+ years of filings

Financial strength (30%) 39/100

Reliability (20%) 55/100

Effectiveness (25%) 31/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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CharityAI™ Score

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Financial Overview — FY 2024

$190K

Total Revenue

$185K

Total Expenses

$46K

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 41.4%

Fundraising Efficiency 30.6%

Operating Reserve 3.01x

Liability-to-Asset 73.1%

Revenue Diversification 120.8%

Compared with Peers

FY 2024

Compared with 726 similar organizations (United States, Medical Research, $100K–$1M in expenses), FY 2024.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	41.4%	84.5%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	2.7%	11.4%	P10P90	Top quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	55.9%	0.0%	P10P90	Bottom quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	30.6%	10.0%	P10P90	Below median
Operating reserve Months of expenses covered by net assets · higher is better	3.0 mo	13.4 mo	P10P90	Bottom quarter
Liabilities to assets Total liabilities / total assets · lower is better	73.1%	0.4%	P10P90	Bottom quarter
Revenue concentration Share of revenue from the largest source · lower is better	120.8%	93.3%	P10P90	Bottom quarter
Revenue growth Year over year revenue growth	-5.2%	9.1%	P10P90
Expense growth Year over year expense growth	12.9%	8.8%	P10P90
Surplus margin Surplus as a share of revenue	2.7%	1.8%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %
2024	$190K	$185K	$46K	41.4%
2023	$200K	$164K	$41K	58.2%
2022	$95K	$141K	$5K	53.3%
2021	$75K	$133K	N/A	—

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Organization Details

EIN: 42-2454608
State: SC
City: HILTON HEAD
ZIP: 29925-2519
Classification: H12
Category: Medical Research
Rating: 2★
Coverage: A
Last Updated: Aug 2026
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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