Freedom Co-Op Inc

Analysis

Freedom Co-Op Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in July 2011, 15 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, Freedom Co-Op Inc reported income of $87k and spending of $116k, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $115k to $87k (-24%), an average of -6.7% a year. The sharpest change came in the year to December 2021, when income dropped by 23%. Over the whole period it spent 122% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freedom Co-Op Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 32nd percentile within TN. Charities of a similar size with the same main cause include Restoration Charities Inc ($87k), Elizabeth Warner Marvin Community House Inc ($87k) and Hilltop Regional Kitchen ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.9% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $29k (25% of expenses). At year end it held assets of $217 against liabilities of $24k, net assets of -$24k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.