Freedom Inc

Analysis

Freedom Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in September 2003, 23 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 Inc reported income of $4.2m and spending of $5.5m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.2m (+33%), an average of +7.5% a year. The sharpest change came in the year to December 2020, when income rose by 164%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freedom Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WI. Charities of a similar size with the same main cause include NBCC ($4.2m), Community Child Care Solutions Inc a New Jersey Nonprofit Corporation ($4.2m) and Serve 6 8 ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $449k (8.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $6.1m against liabilities of $960k, net assets of $5.2m.