Millennium Promise Alliance Inc
Millennium Promise Alliance faces persistent operating deficits and declining assets.
EIN: 203042135 · New York, NY · NTEE: Q30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.7M |
| Program Spending | 70% |
| Net Assets | $259K |
| Transparency Score | 55/100 |
Is Millennium Promise Alliance Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Millennium Promise Alliance Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Millennium Promise Alliance Inc
Millennium Promise Alliance Inc (EIN: 203042135) is a nonprofit organization based in New York, NY, classified under NTEE code Q30. The organization reported total revenue of $1.8M and total assets of $651K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Millennium Promise Alliance Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Millennium Promise Alliance Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -23.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-349,033 |
| Total Assets | $484K |
| Total Liabilities | $225K |
| Net Assets | $259K |
| Operating Margin | -26.1% |
| Debt-to-Asset Ratio | 46.4% |
| Months of Reserves | 3.4 months |
Financial Health Grade: B
In 2023, Millennium Promise Alliance Inc reported a deficit of $349K with expenses exceeding revenue, holds 3.4 months of operating reserves (adequate), has a debt-to-asset ratio of 46.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Millennium Promise Alliance Inc's revenue has declined at a compound annual growth rate (CAGR) of -23.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -23.9% | +6.0% | -47.3% |
| 2022 | -34.0% | -43.3% | +5.0% |
| 2021 | +24.2% | -8.3% | -12.6% |
| 2020 | +0.1% | +1.0% | -46.9% |
| 2019 | -71.0% | -52.2% | -35.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Millennium Promise Alliance Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Millennium Promise Alliance Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $349K, with expenses exceeding revenue.
- Debt-to-asset ratio: 46.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization that has managed significant revenues and expenses in the past. This could indicate a reliance on volunteer leadership or that compensation is structured in a way not categorized as 'Officer Comp' on the 990, requiring further scrutiny for a complete understanding of executive remuneration.
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 Millennium Promise Alliance Inc's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $349,033 deficit in 2023).
- Dramatic decline in revenue from $25.9M in 2014 to $1.3M in 2023.
- Significant reduction in assets from $12.5M in 2014 to $484K in 2023.
- Unusual consistent reporting of 0% officer compensation across all filings.
Strengths
The following positive indicators were identified for Millennium Promise Alliance Inc:
- Historically managed significant program expenditures.
- No reported officer compensation, potentially indicating volunteer leadership.
Frequently Asked Questions about Millennium Promise Alliance Inc
Is Millennium Promise Alliance Inc a legitimate charity?
Millennium Promise Alliance Inc (EIN: 203042135) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 55/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.8M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Millennium Promise Alliance Inc spend its money?
Millennium Promise Alliance Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Millennium Promise Alliance Inc tax-deductible?
Millennium Promise Alliance Inc is registered as a tax-exempt nonprofit (EIN: 203042135). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Millennium Promise Alliance Inc's spending goes to programs?
Millennium Promise Alliance Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Millennium Promise Alliance Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Millennium Promise Alliance Inc is near average for NTEE category Q30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Millennium Promise Alliance Inc located?
Millennium Promise Alliance Inc is headquartered in New York, New York and files with the IRS under EIN 203042135. It is classified under NTEE code Q30.
How many years of IRS 990 filings does Millennium Promise Alliance Inc have?
Millennium Promise Alliance Inc has 13 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 $1.8M in total revenue.
Is Millennium Promise Alliance Inc. financially stable?
The organization has experienced consistent operating deficits in recent years (e.g., $1,335,459 revenue vs. $1,684,492 expenses in 2023) and a significant decline in assets from $12.5 million in 2014 to $484,010 in 2023, raising concerns about its long-term financial stability.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size and history. It suggests either a fully volunteer-led executive team or that executive compensation is reported under different categories, which would require deeper investigation into their financial statements for clarity.
What is the trend in the organization's revenue?
Millennium Promise Alliance Inc. has seen a dramatic decline in revenue, from a peak of $25,988,749 in 2014 to $1,335,459 in 2023, indicating a significant reduction in its operational scale and funding.
How has the organization's asset base changed over time?
The organization's assets have significantly decreased from a high of $12,561,579 in 2014 to $484,010 in 2023, reflecting a substantial reduction in its financial reserves and capacity.
Filing History
IRS 990 filing history for Millennium Promise Alliance Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Millennium Promise Alliance Inc's revenue has declined by 96.1%, moving from $34.4M to $1.3M. Total assets decreased by 98.5% over the same period, from $32.6M to $484K. Total functional expenses fell by 94.4%, from $29.8M to $1.7M. In its most recent filing year (2023), Millennium Promise Alliance Inc reported a deficit of $349K, with expenses exceeding revenue. The organization holds $225K in liabilities against $484K in assets (debt-to-asset ratio: 46.4%), resulting in net assets of $259K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.7M | $484K | $225K | — | — |
| 2022 | $1.8M | $1.6M | $918K | $310K | — | View 990 |
| 2021 | $2.7M | $2.8M | $875K | $323K | — | View 990 |
| 2020 | $2.1M | $3.1M | $1.0M | $271K | — | View 990 |
| 2019 | $2.1M | $3.0M | $1.9M | $238K | — | View 990 |
| 2018 | $7.4M | $6.3M | $2.9M | $391K | — | View 990 |
| 2017 | $4.5M | $10.0M | $2.2M | $577K | — | View 990 |
| 2016 | $15.7M | $15.0M | $7.7M | $556K | — | View 990 |
| 2015 | $23.8M | $26.4M | $7.3M | $861K | — | View 990 |
| 2014 | $26.0M | $26.0M | $12.6M | $3.4M | — | View 990 |
| 2013 | $19.3M | $28.1M | $12.2M | $3.0M | — | View 990 |
| 2012 | $15.2M | $29.0M | $19.5M | $1.6M | — | View 990 |
| 2011 | $34.4M | $29.8M | $32.6M | $920K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.7M, and assets of $484K (revenue -23.9% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.6M, and assets of $918K (revenue -34.0% year-over-year).
- 2021: Revenue of $2.7M, expenses of $2.8M, and assets of $875K (revenue +24.2% year-over-year).
- 2020: Revenue of $2.1M, expenses of $3.1M, and assets of $1.0M (revenue +0.1% year-over-year).
- 2019: Revenue of $2.1M, expenses of $3.0M, and assets of $1.9M (revenue -71.0% year-over-year).
- 2018: Revenue of $7.4M, expenses of $6.3M, and assets of $2.9M (revenue +63.5% year-over-year).
- 2017: Revenue of $4.5M, expenses of $10.0M, and assets of $2.2M (revenue -71.2% year-over-year).
- 2016: Revenue of $15.7M, expenses of $15.0M, and assets of $7.7M (revenue -34.2% year-over-year).
- 2015: Revenue of $23.8M, expenses of $26.4M, and assets of $7.3M (revenue -8.5% year-over-year).
- 2014: Revenue of $26.0M, expenses of $26.0M, and assets of $12.6M (revenue +34.7% year-over-year).
- 2013: Revenue of $19.3M, expenses of $28.1M, and assets of $12.2M (revenue +26.9% year-over-year).
- 2012: Revenue of $15.2M, expenses of $29.0M, and assets of $19.5M (revenue -55.8% year-over-year).
- 2011: Revenue of $34.4M, expenses of $29.8M, and assets of $32.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Millennium Promise Alliance Inc:
Data Sources and Methodology
This transparency report for Millennium Promise Alliance Inc 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.