Milestone Charitable Foundation INC FY2021 filing

Tax-deductible

Buffalo, NY501(c)(3)Since 2016Public & Societal BenefitEIN 81-1207829Revenue $255K in FY2021

On file with the IRSthemilestonefoundation.org50 Fountain Plz Ste 1300, 14202-2215 · Buffalo, NYTax-exempt since Apr 2018Publicly supported — 509(a)(2)

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The Foundation provides low-interest, non-recourse, financial assistance to individuals in need who are suffering from financial distress during the pendency of litigation as a result of a catastrophic accident. The purpose of this is to provide relief to the poor, the financially distressed and underprivleged and to preserve and maintain both the civil rights of these individuals and universal access to the united states justice system for all citizens, regardless of financial ability.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
3 of 6
filings with a surplus
Average deficit $170K a year · 56% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Named funders
3
named funders · $65K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$255K
+74% vs prior year
Spent
$171K
To programs
68%
Net assets
$109K
By yearFY2020–FY2025
Revenue
$255K
FY2021▲ +74%
Tap a bar for its year
Revenue by fiscal year
FY2020$147K
FY2021$255K
FY2022$356K
FY2023$364K
FY2024$272K
FY2025$425K
Expenses
$171K
FY2021▲ +61%
Tap a bar for its year
Expenses by fiscal year
FY2020$107K
FY2021$171K
FY2022$507K
FY2023$346K
FY2024$652K
FY2025$1.1M
Net assets
$109K
FY2021▲ +260%
Tap a bar for its year
Net assets by fiscal year
FY2020$30K
FY2021$109K
FY2022$45K
FY2023$64K
FY2024−$314K
FY2025−$979K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2018.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $116K Management & general 32% · $56K

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
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Former Direc
$0Pt VII · Sec A
Executive Di
$0Pt VII · Sec A

Rachel McCarthy’s $138K as President is at the 88th percentile of top reported officer pay among 1043 $100K–1M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2022FY2020
Rachel McCarthy$137,749——
Erin Waas—$110,000—
Brooke Kibrick——$32,039
Michael Volpe$30,925——
Rachel Mathews——$5,433

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Offers low-interest financial aid to accident victims facing litigation-related distress.

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Provided by the organization

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1 program · $116K · in their own filed words · FY2021
01

Providing low-interest, non-recourse, financial assistance to individuals in need who are suffering from financial distress during the pendency of litigation as a result of a catastrophic accident.

$116Kprogram 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 · FY2024
Total grants receivedfrom 3 funders$65K
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$255K
Ln 12
Fees for servicesLn 2g$156K
Other incomeLn 4–11$99K
Money outPt IX
$171K
Ln 25
Programscol B$116K
Managementcol C$56K
Owns and owesPt X
$109K
net assets · Ln 32
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$156K
Other incomeLn 4–11$99K
Total revenueLn 12$255K
Assets in detailPt X, end of year
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.2M
Net assetsLn 32$109K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Total assetsLn 16$1.1M$1.3M
LiabilitiesLn 26$1.1M$1.2M
Net assetsLn 32$30K$109K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$77K$77K
Other salaries and wagesLn 7$21K$21K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$21K$21K
Information technologyLn 14$3K$3K
InterestLn 20$39K$39K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$383$383
Total functional expensesLn 25$171K$116K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $425K$1.1M−$632K−$979K 990 PDF
FY2024 $272K$652K−$380K−$314K 990 PDF
FY2023 $364K$346K$19K$64K 990 PDF
FY2022 $356K$507K−$151K$45K 990 PDF
FY2021 Viewing $255K$171K$84K$109K 990 PDF
FY2020 $147K$107K$40K$30K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $254,679 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $114,215$155,618
I-10 Investment income$0
I-11 Other revenuePrior year $32,458$99,061
I-12 Total revenuePrior year $146,673$254,679
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $37,472$97,825
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $69,060$73,260
I-18 Total expensesPrior year $106,532$171,085
I-19 Revenue less expensesPrior year $40,141$83,594
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $254,679 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $155,618$155,618
VIII-8 Net income from fundraising eventsExcluded from tax $99,061$99,061
VIII-12 Total revenueRelated to mission $155,618 · Excluded from tax $99,061$254,679
Part IX · Statement of functional expenses $171,085 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $76,773$76,773
IX-7 Other salaries and wagesManagement $21,052$21,052
IX-11b Legal feesManagement $2,408$2,408
IX-11c Accounting feesManagement $4,233$4,233
IX-12 Advertising and promotionManagement $21,385$21,385
IX-14 Information technologyManagement $3,300$3,300
IX-20 InterestPrograms $38,760$38,760
IX-23 InsuranceManagement $2,791$2,791
IX-24 Other expenses (24a–d)Management $383$383
IX-25 Total functional expensesPrograms $115,533 · Management $55,552 · Fundraising $0$171,085
Part X · Balance sheet $1,269,129 assets, 7 lines filed
Asset lines not itemized here account for $1,269,129; see the IRS return.
X-16 Total assetsStart of year $1,108,270$1,269,129
X-17 Accounts payable and accrued expensesStart of year $5,279$1,775
X-25 Other liabilitiesStart of year $1,072,727$1,158,309
X-26 Total liabilitiesStart of year $1,078,006$1,160,084
X-27 Net assets without donor restrictionsStart of year $30,264$109,045
X-32 Total net assets or fund balancesStart of year $30,264$109,045
X-33 Total liabilities and net assetsStart of year $1,108,270$1,269,129
Part XI · Reconciliation of net assets $109,045 net assets at year end
XI-1 Total revenue$254,679
XI-2 Total expenses$171,085
XI-3 Revenue less expenses$83,594
XI-4 Net assets at start of year$30,264
XI-8 Prior period adjustments−$4,813
XI-10 Net assets at end of year$109,045

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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