Freedom Communities

Analysis

Freedom Communities is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2018, 8 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, Freedom Communities reported income of $2.4m and spending of $1.9m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $798k to $2.4m (+205%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 71%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Freedom Communities sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Fifth Street Renaissance ($2.4m), North Eastern Stragetic Alliance Inc ($2.4m) and Brownsville Think Tank Matters ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $143k (7.5% of expenses). Other salaries and wages came to $730k. At year end it held assets of $6.6m against liabilities of $3.3m, net assets of $3.2m. It reported 16 employees.