Freedom Lake Inc

Analysis

Freedom Lake Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in April 2017, 9 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 Lake Inc reported income of $576k and spending of $615k, spending 107% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $290k to $576k (+99%), an average of +41% a year. The sharpest change came in the year to December 2022, when income rose by 119%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freedom Lake Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within KY. Charities of a similar size with the same main cause include American Debt Resources Inc ($576k), Food for Hope ($576k) and Kivel Campus of Care ($576k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $105k (17% of expenses). Other salaries and wages came to $18k. At year end it held assets of $2.7m against liabilities of $2.2m, net assets of $581k. It reported 9 employees.