The Freedom Academy Foundation

Analysis

The Freedom Academy Foundation is a registered charity in United States, based in Ogden, UT. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Freedom Academy Foundation reported income of $26.4m and spending of $25.2m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.3m to $26.4m (+72%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Freedom Academy Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within UT. Charities of a similar size with the same main cause include Greater Schools ($26.4m), Ivey Business School Foundation ($26.4m) and Leaders in Our Neighborhood Charter School ($26.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $226k (0.9% of expenses). Other salaries and wages came to $9.5m. At year end it held assets of $65.5m against liabilities of $70.9m, net assets of -$5.3m. It reported 409 employees.