The Freedom Foundation of Minnesota

Analysis

The Freedom Foundation of Minnesota is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, The Freedom Foundation of Minnesota reported income of $225k and spending of $263k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $329k to $225k (-32%), an average of -9.0% a year. The sharpest change came in the year to December 2022, when income dropped by 48%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Freedom Foundation of Minnesota sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MN. Charities of a similar size with the same main cause include Hamburg Economic Development Corporation ($225k), Inso Outreach Inc Nonprofit ($225k) and Chittenden County Senior Citizens Alliance Inc ($225k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $110k (42% of expenses). At year end it held assets of $31k against liabilities of $0, net assets of $31k. It reported 1 employees.