Millennial Debt Foundation
Nonprofit profile at a glance
- EIN
- 842250005
- IRS 990 coverage
- 2021–2025
- Forms available
- Form 990 2025, Form 990-EZ 2020
- Location
- Chattanooga, TN, USA
- Phone
- 4235038793
- Rating
- 40
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Alliance/Advocacy Organizations
Reported finances
- Revenue
- $1,471,780
- Expenses
- $1,007,111
- Assets
- $1,451,081
- Liabilities
- $23,378
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Weston Wamp (President)
Highest reported compensation
- Lindsay Conrad (Director): $135,000 total reported compensation
- William Glass (Employee): $110,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The millennial debt foundation was launched in mid-2019 by tennessean weston wamp and other millennial entrepreneurs to lead a generational conversation about fiscal stewardship, the role of the federal government and america's deficit spending crisis.
What it reported doing in 2025
Public education with millennial business leaders to lead a generational conversation about fiscal stewardship, the role of the federal government and America's deficit spending crisis.
Operating model
- Revenue model
- Earned-program. 74% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 5
- Transparency & Controls: 92
- Accountability: 12
- Sustainability: 63
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 4.9%; rating input score 5
- Program expense ratio: 7.2%; rating input score 7
- Fundraising efficiency: $0.56 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 31.6%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 1.44; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 55; 55th percentile among comparable filings
- Officer compensation ratio: 24.3%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: 35.3% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 38% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: 37% per year; rating input score 100; 92nd percentile among comparable filings
Details
- Where the money goes: 4.9% of revenue deployed · 7.2% of spending went to programs
- Governance: 0 of 5 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $72K in reported program spending
- Leadership: top reported pay $135K · 7 people listed
- Consistency: 18 of 18 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 5 filing years from 2021 to 2025
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 5/100.
- High — Financial Efficiency: Program expense ratio scored 7/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 3/100.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- High — Sustainability: Officer compensation ratio scored 12/100.
- Review — Sustainability: Liabilities to assets ratio scored 55/100.