Freedom Equity Inc

Analysis

Freedom Equity Inc is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in March 2023, 3 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 Equity Inc reported income of $1.1m and spending of $912k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $336k to $1.1m (+214%), an average of +214% a year. The sharpest change came in the year to December 2023, when income rose by 214%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Freedom Equity Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Northeast Family Resource Center ($1.1m), Greater Freeport Partnership ($1.1m) and Civic New Markets Support Corporation III ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $356k (39% of expenses). Other salaries and wages came to $83k. It paid $15k in professional fundraising fees. At year end it held assets of $2.4m against liabilities of $2.1m, net assets of $311k. It reported 10 employees.