Freestore

Analysis

Freestore is a registered charity in United States, based in WDM, IA. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Freestore reported income of $1.2m and spending of $1.1m, spending 89% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $539k to $1.2m (+131%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 63%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freestore sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within IA. Charities of a similar size with the same main cause include Life Changing Community Outreach ($1.2m), Infants and Other People Inc ($1.2m) and Community Resources for Independent ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.0% of the total. At year end it held assets of $857k against liabilities of $0, net assets of $857k.