True Freedom Enterprises

Analysis

True Freedom Enterprises is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, True Freedom Enterprises reported income of $400k and spending of $372k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $214k to $400k (+87%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, True Freedom Enterprises sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within OH. Charities of a similar size with the same main cause include Superior Community Corporation Inc ($400k), Taylor Family Foundation ($400k) and Libertore Fund for Children Inc ($400k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $61k (16% of expenses). Other salaries and wages came to $92k. At year end it held assets of $841k against liabilities of $107k, net assets of $734k. It reported 2 employees.