Freedom to Read Foundation

Analysis

Freedom to Read Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1972, 54 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Freedom to Read Foundation reported income of $400k and spending of $391k, spending 98% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $491k to $400k (-19%), an average of -5.0% a year. The sharpest change came in the year to August 2020, when income rose by 107%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Freedom to Read Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within IL. Charities of a similar size with the same main cause include Hubbard College of Administration ($400k), Halifax Community College Foundation Inc ($400k) and Memphis & Shelby County Film and Television Commission Foundation ($400k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 77% of the total. Compensation of current officers, directors and key employees was $131k (34% of expenses). At year end it held assets of $2.2m against liabilities of $119k, net assets of $2.1m.