Millennial Debt Foundation

Analysis

Millennial Debt Foundation is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Millennial Debt Foundation reported income of $448k and spending of $552k, spending 123% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $351k to $448k (+28%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Millennial Debt Foundation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 70th percentile within TN. Charities of a similar size with the same main cause include Cambridge Classical Academy ($448k), Ithaca Electrical Joint Apprenticeship Training Fund Local ($448k) and Story District Inc ($448k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Other salaries and wages came to $244k. At year end it held assets of $240k against liabilities of $9,188, net assets of $230k.