Mill Foundation Ltd
Mill Foundation Ltd shows extreme revenue volatility and recent asset decline despite consistent 990 filings and no reported officer compensation.
EIN: 201957778 · Burlington, VT · NTEE: T21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $892K |
| Total Expenses | $968K |
| Program Spending | 80% |
| Net Assets | $3.4M |
| Transparency Score | 65/100 |
Is Mill Foundation Ltd Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mill Foundation Ltd directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mill Foundation Ltd
Mill Foundation Ltd (EIN: 201957778) is a nonprofit organization based in Burlington, VT, classified under NTEE code T21. The organization reported total revenue of $892K and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mill Foundation Ltd's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mill Foundation Ltd is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $217K |
| Total Expenses | $968K |
| Surplus / Deficit | $-750,899 |
| Total Assets | $3.4M |
| Total Liabilities | $1 |
| Net Assets | $3.4M |
| Operating Margin | -346.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 42.6 months |
Financial Health Grade: B
In 2023, Mill Foundation Ltd reported a deficit of $751K with expenses exceeding revenue, holds 42.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Mill Foundation Ltd's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -90.6% | +39.2% | -22.8% |
| 2022 | +33.6% | -46.5% | +76.8% |
| 2021 | +2187.6% | +27.0% | -20.0% |
| 2020 | -92.9% | -12.2% | -22.0% |
| 2019 | -86.2% | +42.6% | -46.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Mill Foundation Ltd with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Mill Foundation Ltd allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $751K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Mill Foundation Ltd consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through mechanisms not classified as officer compensation, which is unusual for an organization with significant assets and expenses.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Mill Foundation Ltd's IRS 990 filings:
- Extreme revenue volatility, making financial stability unpredictable (e.g., $75,650 in 2020 vs. $7,738,863 in 2015).
- Significant operating deficits in multiple years (e.g., 2023 expenses $967,733 vs. revenue $216,834).
- Recent substantial decline in assets from $4,448,084 in 2022 to $3,433,151 in 2023.
- Consistent reporting of 0% officer compensation, which may obscure actual leadership compensation if paid through other means.
Strengths
The following positive indicators were identified for Mill Foundation Ltd:
- Consistent filing of IRS Form 990s (10 filings), indicating good transparency practices.
- Minimal reported liabilities across all filings, suggesting a low debt burden.
- Substantial asset base, providing a financial buffer despite recent declines (currently $2,668,578).
Frequently Asked Questions about Mill Foundation Ltd
Is Mill Foundation Ltd a legitimate charity?
Based on AI analysis of IRS 990 filings, Mill Foundation Ltd (EIN: 201957778) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Mill Foundation Ltd spend its money?
Mill Foundation Ltd directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mill Foundation Ltd tax-deductible?
Mill Foundation Ltd is registered as a tax-exempt nonprofit (EIN: 201957778). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Mill Foundation Ltd's spending goes to programs?
Mill Foundation Ltd directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Mill Foundation Ltd compare to similar nonprofits?
With a transparency score of 65/100 (Good), Mill Foundation Ltd is above average for NTEE category T21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mill Foundation Ltd located?
Mill Foundation Ltd is headquartered in Burlington, Vermont and files with the IRS under EIN 201957778. It is classified under NTEE code T21.
How many years of IRS 990 filings does Mill Foundation Ltd have?
Mill Foundation Ltd has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $892K in total revenue.
What is the source of Mill Foundation Ltd's highly volatile revenue, and how does it impact long-term planning?
The revenue has fluctuated from $75,650 to $7,738,863 over the past decade. Understanding if this is due to large, infrequent grants, investment returns, or other factors is crucial for assessing sustainability.
How does Mill Foundation Ltd manage its expenses during periods of low revenue, such as in 2023 when expenses ($967,733) significantly exceeded revenue ($216,834)?
The organization likely draws from its asset base to cover deficits, as seen by the asset decline from $4,448,084 in 2022 to $3,433,151 in 2023, but the long-term viability of this approach depends on asset growth.
What is the full compensation structure for the leadership, given that 0% officer compensation is reported across all filings?
While 0% officer compensation is reported, it's important to understand if key personnel are compensated as employees, contractors, or if the organization is entirely volunteer-run at the executive level.
What is the specific nature of Mill Foundation Ltd's grantmaking activities and its impact, given its NTEE code T21?
As a private grantmaking foundation, understanding the types of organizations or causes it supports and the measurable outcomes of its grants would provide insight into its programmatic effectiveness.
Filing History
IRS 990 filing history for Mill Foundation Ltd showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Mill Foundation Ltd's revenue has grown by 112%, moving from $102K to $217K. Total assets increased by 8579.2% over the same period, from $40K to $3.4M. Total functional expenses rose by 225.4%, from $297K to $968K. In its most recent filing year (2023), Mill Foundation Ltd reported a deficit of $751K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $217K | $968K | $3.4M | $1 | — | — |
| 2022 | $2.3M | $695K | $4.4M | $1 | — | View 990 |
| 2021 | $1.7M | $1.3M | $2.5M | $1 | — | View 990 |
| 2020 | $76K | $1.0M | $3.1M | $1 | — | View 990 |
| 2019 | $1.1M | $1.2M | $4.0M | $0 | — | View 990 |
| 2015 | $7.7M | $819K | $7.6M | $1 | — | View 990 |
| 2014 | $345K | $976K | $578K | $1 | — | View 990 |
| 2013 | $1.0M | $505K | $1.2M | $0 | — | View 990 |
| 2012 | $1.0M | $322K | $690K | $0 | — | View 990 |
| 2011 | $102K | $297K | $40K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $217K, expenses of $968K, and assets of $3.4M (revenue -90.6% year-over-year).
- 2022: Revenue of $2.3M, expenses of $695K, and assets of $4.4M (revenue +33.6% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.3M, and assets of $2.5M (revenue +2187.6% year-over-year).
- 2020: Revenue of $76K, expenses of $1.0M, and assets of $3.1M (revenue -92.9% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.2M, and assets of $4.0M (revenue -86.2% year-over-year).
- 2015: Revenue of $7.7M, expenses of $819K, and assets of $7.6M (revenue +2144.8% year-over-year).
- 2014: Revenue of $345K, expenses of $976K, and assets of $578K (revenue -65.7% year-over-year).
- 2013: Revenue of $1.0M, expenses of $505K, and assets of $1.2M (revenue +0.3% year-over-year).
- 2012: Revenue of $1.0M, expenses of $322K, and assets of $690K (revenue +880.4% year-over-year).
- 2011: Revenue of $102K, expenses of $297K, and assets of $40K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mill Foundation Ltd:
Data Sources and Methodology
This transparency report for Mill Foundation Ltd is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.