Millennium Education Foundation Inc

Analysis

Millennium Education Foundation Inc is a registered charity in United States, based in Mount Airy, NC. It received its IRS tax-exemption ruling in August 2000, 26 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, Millennium Education Foundation Inc reported income of $7.4m and spending of $6.4m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.5m to $7.4m (-0.8%), an average of -0.2% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Millennium Education Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include Western States Learning Corporation ($7.4m), Blackstone Academy Inc ($7.4m) and Rethinkforward Inc ($7.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 3.7% of the total. Compensation of current officers, directors and key employees was $246k (3.9% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $7.4m against liabilities of $11.6m, net assets of -$4.1m. It reported 130 employees.