A memory element is provided that includes a ferromagnetic (FM) layer having one or more ferromagnetic materials. One or more first molecule layers are positioned on the FM layer where charge transfer and interface chemistry between the one or more first molecule layers and FM layer induces a magnetic moment in the one or more first molecule layers. The magnetic moment is stored in the one or more first molecule layers acting as bit information that is retained or written into the one or more first molecule layers. One or more spin-filter layers are positioned on the one or more first molecule layers. The one or more spin-filter layers are positioned on the one or more spin-filter layers to form a physical or a chemical π-dimer layer structure.