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

Official website

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.