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Fix the Debt Coalition INC

Not tax-deductible

Washington, DC501(c)(4)Since 2012Civil Rights & Advocacy EIN 46-1321030Revenue $442K in FY2025

On file with the IRSfixthedebt.org1025 Connecticut Ave Nw Suite 110, 20036-5405 · Washington, DCTax-exempt since Apr 2014

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Fix the Debt Coalition, INC. Is organized and operated to educate americans on the importance of addressing our nation's Debt challenges.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $270K a year · 44% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
198 mo
of spending, in cash
Looks good: 197.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2.2M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$442K
-77% vs prior year
Spent
$684K
To programs
95%
Net assets
$12.4M
By yearFY2020–FY2025
Revenue
$442K
FY2025▼ -77%
Tap a bar for its year
Revenue by fiscal year
FY2020$203K
FY2021$115K
FY2022$171K
FY2023$803K
FY2024$1.9M
FY2025$442K
Expenses
$684K
FY2025▼ -36%
Tap a bar for its year
Expenses by fiscal year
FY2020$31K
FY2021$19K
FY2022$18K
FY2023$228K
FY2024$1.1M
FY2025$684K
Net assets
$12.4M
FY2025▼ -0.6%
Tap a bar for its year
Net assets by fiscal year
FY2020$10.6M
FY2021$10.7M
FY2022$10.8M
FY2023$11.4M
FY2024$12.5M
FY2025$12.4M

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $649K Management & general 4% · $28K Fundraising 1% · $6K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Timothy Penny
Secretary, Director
$0Pt VII · Sec A
Tom Tauke
Treasurer, Director
$0Pt VII · Sec A
Dave McCurdy
Director
$0Pt VII · Sec A
Rudy Penner
Director
$0Pt VII · Sec A
Ed Rendell
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Michael V Murphy
SVP and Chief of Staff
$0Pt VII · Sec A
Simone G Frank Senior
Advisor, Finance & Operations
$0Pt VII · Sec A
See Fix the Debt Coalition INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates Americans on national debt challenges and advocates for responsible solutions.

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Provided by the organization

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1 program · $649K · in their own filed words · FY2025
01

Public Engagement

The public engagement team works with civic, educational, business and economic groups and the media to educate and engage the public about the nation's long-term fiscal challenges.

$649Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Peterson Solutions FundFY2023$2.2M
Total grants receivedfrom 1 funder$2.2M

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$442K
Ln 12
Investment incomeLn 3$442K
Money outPt IX
$684K
Ln 25
Programscol B$649K
Managementcol C$28K
Fundraisingcol D$6K
Owns and owesPt X
$12.4M
net assets · Ln 32
Cash and savingsLn 1–2$11.3M
Total assetsLn 16$12.4M
LiabilitiesLn 26$1K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$442K
Total revenueLn 12$442K
Assets in detailPt X, end of year
CashLn 1$255K
SavingsLn 2$11.0M
Cash and savings togetherLn 1–2$11.3M
InvestmentsLn 11–13$934K
Total assetsLn 16$12.4M
LiabilitiesLn 26$1K
Net assetsLn 32$12.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$11.5M$11.3M
InvestmentsLn 11–13$755K$934K
Total assetsLn 16$12.7M$12.4M
LiabilitiesLn 26$241K$1K
Net assetsLn 32$12.5M$12.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$70K$68K$3K
Other salaries and wagesLn 7$231K$216K$12K$3K
Pension plan contributionsLn 8$19K$17K$1K$263
Other employee benefitsLn 9$14K$13K$715$188
Payroll taxesLn 10$23K$21K$1K$382
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$253K$252K$588
Advertising and promotionLn 12$13K$13K
Information technologyLn 14$1K$1K
OccupancyLn 16$23K$22K$924$217
TravelLn 17$17K$17K
Conferences, conventions and meetingsLn 19$10K$10K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$684K$649K$28K$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $442K$684K−$242K$12.4M 990 PDF
FY2024 $1.9M$1.1M$864K$12.5M 990 PDF
FY2023 $803K$228K$575K$11.4M 990 PDF
FY2022 $171K$18K$153K$10.8M 990 PDF
FY2021 $115K$19K$96K$10.7M 990 PDF
FY2020 $203K$31K$172K$10.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $441,605 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,505,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $420,150$441,605
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,925,150$441,605
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $307,848$356,270
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $753,721$327,645
I-18 Total expensesPrior year $1,061,569$683,915
I-19 Revenue less expensesPrior year $863,581−$242,310
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $441,605 across 2 lines filed
VIII-3 Investment incomeExcluded from tax $441,605$441,605
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $441,605$441,605
Part IX · Statement of functional expenses $683,915 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $67,813 · Fundraising $2,547$70,360
IX-7 Other salaries and wagesPrograms $215,774 · Management $12,213 · Fundraising $2,571$230,558
IX-8 Pension plan contributionsPrograms $17,126 · Management $1,179 · Fundraising $263$18,568
IX-9 Other employee benefitsPrograms $13,245 · Management $715 · Fundraising $188$14,148
IX-10 Payroll taxesPrograms $21,218 · Management $1,036 · Fundraising $382$22,636
IX-11c Accounting feesManagement $5,883$5,883
IX-11g Other fees for servicesPrograms $252,000 · Management $588$252,588
IX-12 Advertising and promotionPrograms $13,271$13,271
IX-14 Information technologyManagement $1,028$1,028
IX-16 OccupancyPrograms $22,255 · Management $924 · Fundraising $217$23,396
IX-17 TravelPrograms $17,071$17,071
IX-19 Conferences, conventions and meetingsPrograms $9,690$9,690
IX-23 InsuranceManagement $3,233$3,233
IX-24 Other expenses (24a–d)Management $1,485$1,485
IX-25 Total functional expensesPrograms $649,463 · Management $28,284 · Fundraising $6,168$683,915
Part X · Balance sheet $12,423,657 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $386,398$254,605
X-2 Savings and temporary cash investmentsStart of year $11,151,416$11,005,164
X-4 Accounts receivableStart of year $193,493$228,240
X-9 Prepaid expenses and deferred chargesStart of year $1,886$1,886
X-11 Publicly traded securitiesStart of year $754,935$933,762
X-16 Total assetsStart of year $12,743,128$12,423,657
X-17 Accounts payable and accrued expensesStart of year $240,777$1,182
X-26 Total liabilitiesStart of year $240,777$1,182
X-27 Net assets without donor restrictionsStart of year $2,752,643$3,356,683
X-28 Net assets with donor restrictionsStart of year $9,749,708$9,065,792
X-32 Total net assets or fund balancesStart of year $12,502,351$12,422,475
X-33 Total liabilities and net assetsStart of year $12,743,128$12,423,657
Part XI · Reconciliation of net assets $12,422,475 net assets at year end
XI-1 Total revenue$441,605
XI-2 Total expenses$683,915
XI-3 Revenue less expenses−$242,310
XI-4 Net assets at start of year$12,502,351
XI-5 Net unrealized gains (losses) on investments$162,434
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,422,475

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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