Freedom Academy Inc

Analysis

Freedom Academy Inc is a registered charity in United States, based in Kendallville, IN. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Freedom Academy Inc reported income of $1.1m and spending of $1.3m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.1m (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 123%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Freedom Academy Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within IN. Charities of a similar size with the same main cause include Rooc Inc ($1.1m), Consumer Technology Association Foundation ($1.1m) and Lo Nyamship Association USA Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $435k. At year end it held assets of $802k against liabilities of $43k, net assets of $759k. It reported 11 employees.