Freedom Bank Foundation Inc

Analysis

Freedom Bank Foundation Inc is a registered charity in United States, based in McLean, VA. It received its IRS tax-exemption ruling in November 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Freedom Bank Foundation Inc reported income of $61k and spending of $101k, spending 164% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $100k to $61k (-38%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 38%. Over the whole period it spent 63% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Freedom Bank Foundation Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 23rd percentile within VA. Charities of a similar size with the same main cause include Camp Exclamation Point Inc ($61k), PTA Ohio Congress ($61k) and Revival Prayer Fellowship ($61k).

At year end it held assets of $61k against liabilities of $0, net assets of $61k.