Freedom Reads

Analysis

Freedom Reads is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in March 2022, 4 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 Reads reported income of $14.5m and spending of $4.6m, leaving 68% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $6.2m to $14.5m (+135%), an average of +135% a year. The sharpest change came in the year to December 2023, when income rose by 135%. Over the whole period it spent 32% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Freedom Reads sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within CT. Charities of a similar size with the same main cause include Foundation Property Management Inc ($14.5m), Bethany Home Society of San Joaquin County Inc ($14.5m) and Battelle Education ($14.5m).

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 $187k (4.0% of expenses). Other salaries and wages came to $699k. At year end it held assets of $15.6m against liabilities of $1.5m, net assets of $14.1m. It reported 14 employees.