New Millennium Academy

Analysis

New Millennium Academy is a registered charity in United States, based in Brooklyn Ctr, MN. It received its IRS tax-exemption ruling in April 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Millennium Academy reported income of $14.1m and spending of $14.1m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.1m to $14.1m (+39%), an average of +8.7% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Millennium Academy sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include New Jersey Institute of Technology Foundation ($14.1m), Envision Xpress Inc ($14.1m) and HSDL LLC ($14.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $542k (3.8% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $10.8m against liabilities of $10.6m, net assets of $139k. It reported 241 employees.