Chicago Freedom School
Chicago Freedom School faces recent operating deficits despite zero officer compensation.
EIN: 204735643 · Chicago, IL · NTEE: B80 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $974K |
| Total Expenses | $1.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.2M |
| Transparency Score | 75/100 |
Is Chicago Freedom School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chicago Freedom School directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chicago Freedom School
Chicago Freedom School (EIN: 204735643) is a nonprofit organization based in Chicago, IL, classified under NTEE code B80. The organization reported total revenue of $974K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chicago Freedom School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chicago Freedom School is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $919K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-160,174 |
| Total Assets | $1.5M |
| Total Liabilities | $317K |
| Net Assets | $1.2M |
| Operating Margin | -17.4% |
| Debt-to-Asset Ratio | 20.8% |
| Months of Reserves | 17.0 months |
Financial Health Grade: B
In 2023, Chicago Freedom School reported a deficit of $160K with expenses exceeding revenue, holds 17.0 months of operating reserves (strong position), has a debt-to-asset ratio of 20.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Chicago Freedom School's revenue has grown at a compound annual growth rate (CAGR) of 10.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.5% | -16.0% | -20.1% |
| 2022 | -37.1% | +18.8% | -15.0% |
| 2021 | -40.6% | -3.3% | +24.4% |
| 2020 | +522.0% | +144.0% | +378.6% |
| 2019 | +4.6% | +26.7% | +7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chicago Freedom School with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Chicago Freedom School allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $160K, with expenses exceeding revenue.
- Debt-to-asset ratio: 20.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with nearly $1 million in annual revenue and over $1.5 million in assets.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Chicago Freedom School's IRS 990 filings:
- Consistent operating deficits in recent years (2022 and 2023), with expenses exceeding revenue by $160,174 in 2023 and $331,904 in 2022.
- Significant and rapid decline in revenue from $2,547,288 in 2020 to $918,739 in 2023, indicating potential instability in funding sources.
- Unusually high liabilities in 2022 ($797,986) relative to assets, though they decreased in 2023.
Strengths
The following positive indicators were identified for Chicago Freedom School:
- Zero reported officer compensation across all available filings, indicating a strong commitment to directing funds to the mission.
- Substantial asset base of $1,526,474 in 2023, providing some financial cushion.
- History of significant revenue generation, peaking at over $2.5 million in 2020.
Frequently Asked Questions about Chicago Freedom School
Is Chicago Freedom School a legitimate charity?
Chicago Freedom School (EIN: 204735643) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $974K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Chicago Freedom School spend its money?
Chicago Freedom School directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Chicago Freedom School tax-deductible?
Chicago Freedom School is registered as a tax-exempt nonprofit (EIN: 204735643). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Chicago Freedom School CEO make?
Chicago Freedom School's highest-compensated officer earns $1 annually. The organization reported $974K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Chicago Freedom School's spending goes to programs?
Chicago Freedom School directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Chicago Freedom School compare to similar nonprofits?
With a transparency score of 75/100 (Good), Chicago Freedom School is above average for NTEE category B80 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Chicago Freedom School located?
Chicago Freedom School is headquartered in Chicago, Illinois and files with the IRS under EIN 204735643. It is classified under NTEE code B80.
How many years of IRS 990 filings does Chicago Freedom School have?
Chicago Freedom School has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $974K in total revenue.
Why has Chicago Freedom School's revenue fluctuated so significantly, from $2.5M in 2020 to $918K in 2023?
The provided data shows a substantial decrease in revenue from a peak of $2,547,288 in 2020 to $918,739 in 2023. This could be due to the conclusion of specific grants, changes in funding priorities, or economic factors affecting donations.
How does Chicago Freedom School sustain operations with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that executive leadership may be entirely volunteer-based, compensated through a related entity, or that the organization's structure allows for leadership roles to be filled without direct salary payments from the organization itself. This is an uncommon practice for an organization of this size.
What caused the operating deficits in 2022 and 2023, where expenses exceeded revenue?
In 2023, expenses were $1,078,913 against revenue of $918,739, and in 2022, expenses were $1,284,078 against revenue of $952,174. These deficits indicate that the organization spent more than it brought in during those periods, potentially drawing from reserves or incurring new liabilities.
What is the breakdown of program, administrative, and fundraising expenses?
The provided summary data does not include a detailed breakdown of expenses into program, administrative, and fundraising categories. This information would be crucial for a comprehensive assessment of spending efficiency.
Filing History
IRS 990 filing history for Chicago Freedom School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chicago Freedom School's revenue has grown by 235.1%, moving from $274K to $919K. Total assets increased by 803.6% over the same period, from $169K to $1.5M. Total functional expenses rose by 234.5%, from $323K to $1.1M. In its most recent filing year (2023), Chicago Freedom School reported a deficit of $160K, with expenses exceeding revenue. The organization holds $317K in liabilities against $1.5M in assets (debt-to-asset ratio: 20.8%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $919K | $1.1M | $1.5M | $317K | — | — |
| 2022 | $952K | $1.3M | $1.9M | $798K | — | View 990 |
| 2021 | $1.5M | $1.1M | $2.2M | $728K | — | View 990 |
| 2020 | $2.5M | $1.1M | $1.8M | $210K | — | View 990 |
| 2019 | $410K | $458K | $378K | $209K | — | View 990 |
| 2018 | $391K | $362K | $352K | $135K | — | View 990 |
| 2017 | $392K | $335K | $409K | $222K | — | — |
| 2016 | $404K | $307K | $219K | $89K | — | View 990 |
| 2015 | $230K | $258K | $111K | $79K | — | View 990 |
| 2014 | $250K | $259K | $123K | $62K | — | View 990 |
| 2013 | $254K | $295K | $123K | $53K | — | View 990 |
| 2012 | $243K | $273K | $126K | $14K | — | View 990 |
| 2011 | $274K | $323K | $169K | $27K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $919K, expenses of $1.1M, and assets of $1.5M (revenue -3.5% year-over-year).
- 2022: Revenue of $952K, expenses of $1.3M, and assets of $1.9M (revenue -37.1% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.1M, and assets of $2.2M (revenue -40.6% year-over-year).
- 2020: Revenue of $2.5M, expenses of $1.1M, and assets of $1.8M (revenue +522.0% year-over-year).
- 2019: Revenue of $410K, expenses of $458K, and assets of $378K (revenue +4.6% year-over-year).
- 2018: Revenue of $391K, expenses of $362K, and assets of $352K (revenue -0.3% year-over-year).
- 2017: Revenue of $392K, expenses of $335K, and assets of $409K (revenue -3.0% year-over-year).
- 2016: Revenue of $404K, expenses of $307K, and assets of $219K (revenue +76.1% year-over-year).
- 2015: Revenue of $230K, expenses of $258K, and assets of $111K (revenue -8.2% year-over-year).
- 2014: Revenue of $250K, expenses of $259K, and assets of $123K (revenue -1.3% year-over-year).
- 2013: Revenue of $254K, expenses of $295K, and assets of $123K (revenue +4.5% year-over-year).
- 2012: Revenue of $243K, expenses of $273K, and assets of $126K (revenue -11.5% year-over-year).
- 2011: Revenue of $274K, expenses of $323K, and assets of $169K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chicago Freedom School:
Data Sources and Methodology
This transparency report for Chicago Freedom School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.