Freedom Co Op Inc
Freedom Co Op Inc consistently operates at a deficit, with minimal assets and growing liabilities.
EIN: 203753570 · Memphis, TN · NTEE: P80 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $89K |
| Total Expenses | $116K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $100,000 |
| Net Assets | $-24,005 |
| Transparency Score | 35/100 |
Is Freedom Co Op Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom Co Op Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Freedom Co Op Inc
Freedom Co Op Inc (EIN: 203753570) is a nonprofit organization based in Memphis, TN, classified under NTEE code P80. The organization reported total revenue of $89K and total assets of $5 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Co Op Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Co Op Inc is a micro nonprofit that has been operating for 15 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $87K |
| Total Expenses | $116K |
| Surplus / Deficit | $-28,637 |
| Total Assets | $217 |
| Total Liabilities | $24K |
| Net Assets | $-24,005 |
| Operating Margin | -32.8% |
| Debt-to-Asset Ratio | 11162.2% |
| Months of Reserves | 0.0 months |
Financial Health Grade: D
In 2023, Freedom Co Op Inc reported a deficit of $29K with expenses exceeding revenue, holds 0.0 months of operating reserves (limited), has a debt-to-asset ratio of 11162.2% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Freedom Co Op Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.6% | +23.1% | — |
| 2022 | +11.0% | -15.0% | -100.0% |
| 2021 | -23.2% | -4.8% | -94.8% |
| 2020 | -16.6% | -0.3% | -34.8% |
| 2019 | -22.5% | -18.4% | -3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2011 |
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 Freedom Co Op Inc with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Freedom Co Op Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $29K, with expenses exceeding revenue.
- Debt-to-asset ratio: 11162.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries, which is unusual for an organization with expenses exceeding $100,000 annually.
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 Freedom Co Op Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $28,637 deficit in 2023)
- Extremely low asset base ($5 in latest filing)
- Significant increase in liabilities in 2023 ($24,222)
- Lack of financial reserves to ensure long-term stability
- Revenue has been declining since 2017 ($195,540) to $88,690 currently
Strengths
The following positive indicators were identified for Freedom Co Op Inc:
- No reported executive compensation, indicating a volunteer-led or very lean leadership structure.
Frequently Asked Questions about Freedom Co Op Inc
Is Freedom Co Op Inc a legitimate charity?
Freedom Co Op Inc (EIN: 203753570) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 35/100. It has 14 years of IRS 990 filings on record. Total revenue: $89K. 5 red flags identified. 1 strength noted. Financial health grade: D.
How does Freedom Co Op Inc spend its money?
Freedom Co Op Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Freedom Co Op Inc tax-deductible?
Freedom Co Op Inc is registered as a tax-exempt nonprofit (EIN: 203753570). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Freedom Co Op Inc CEO make?
Freedom Co Op Inc's highest-compensated officer earns $100,000 annually. The organization reported $89K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Freedom Co Op Inc's spending goes to programs?
Freedom Co Op Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Freedom Co Op Inc compare to similar nonprofits?
With a transparency score of 35/100 (Poor), Freedom Co Op Inc is below average for NTEE category P80 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freedom Co Op Inc located?
Freedom Co Op Inc is headquartered in Memphis, Tennessee and files with the IRS under EIN 203753570. It is classified under NTEE code P80.
How many years of IRS 990 filings does Freedom Co Op Inc have?
Freedom Co Op Inc has 14 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 $89K in total revenue.
Is Freedom Co Op Inc financially sustainable?
Based on the consistent operational deficits (e.g., $115,840 expenses vs. $87,203 revenue in 2023) and minimal assets ($5 in the latest filing), the organization's financial sustainability is highly questionable.
What is the reason for the significant decline in assets?
Assets have drastically declined from $38,598 in 2020 to $5 in the latest filing, likely due to the organization consistently spending more than it earns and potentially liquidating assets to cover operational costs.
How does Freedom Co Op Inc cover its operational deficits?
The consistent deficits suggest the organization is either drawing down on past reserves (which are now depleted), incurring debt (liabilities were $24,222 in 2023), or relying on irregular, non-recurring funding sources not reflected in annual revenue.
What are the specific program activities funded by Freedom Co Op Inc?
The provided IRS 990 data does not offer a detailed breakdown of program activities or their associated costs, making it difficult to assess the impact of its spending.
Filing History
IRS 990 filing history for Freedom Co Op Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Freedom Co Op Inc's revenue has grown by 9%, moving from $80K to $87K. Total assets decreased by 98.3% over the same period, from $13K to $217. Total functional expenses rose by 66.5%, from $70K to $116K. In its most recent filing year (2023), Freedom Co Op Inc reported a deficit of $29K, with expenses exceeding revenue. The organization holds $24K in liabilities against $217 in assets (debt-to-asset ratio: 11162.2%), resulting in net assets of $-24,005.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $87K | $116K | $217 | $24K | — | — |
| 2022 | $82K | $94K | $0 | $0 | — | View 990 |
| 2021 | $74K | $111K | $2K | $5K | — | — |
| 2020 | $96K | $116K | $39K | $4K | — | View 990 |
| 2019 | $115K | $117K | $59K | $4K | — | View 990 |
| 2018 | $148K | $143K | $61K | $5K | — | View 990 |
| 2017 | $196K | $184K | $56K | $5K | — | View 990 |
| 2016 | $153K | $151K | $44K | $5K | — | View 990 |
| 2015 | $189K | $182K | $41K | $3K | — | View 990 |
| 2014 | $278K | $281K | $35K | $4K | — | View 990 |
| 2013 | $256K | $243K | $40K | $4K | — | View 990 |
| 2012 | $173K | $178K | $28K | $4K | — | View 990 |
| 2011 | $152K | $133K | $32K | $3K | — | View 990 |
| 2010 | $80K | $70K | $13K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $87K, expenses of $116K, and assets of $217 (revenue +6.6% year-over-year).
- 2022: Revenue of $82K, expenses of $94K, and assets of $0 (revenue +11.0% year-over-year).
- 2021: Revenue of $74K, expenses of $111K, and assets of $2K (revenue -23.2% year-over-year).
- 2020: Revenue of $96K, expenses of $116K, and assets of $39K (revenue -16.6% year-over-year).
- 2019: Revenue of $115K, expenses of $117K, and assets of $59K (revenue -22.5% year-over-year).
- 2018: Revenue of $148K, expenses of $143K, and assets of $61K (revenue -24.2% year-over-year).
- 2017: Revenue of $196K, expenses of $184K, and assets of $56K (revenue +27.8% year-over-year).
- 2016: Revenue of $153K, expenses of $151K, and assets of $44K (revenue -19.2% year-over-year).
- 2015: Revenue of $189K, expenses of $182K, and assets of $41K (revenue -31.9% year-over-year).
- 2014: Revenue of $278K, expenses of $281K, and assets of $35K (revenue +8.4% year-over-year).
- 2013: Revenue of $256K, expenses of $243K, and assets of $40K (revenue +48.1% year-over-year).
- 2012: Revenue of $173K, expenses of $178K, and assets of $28K (revenue +13.8% year-over-year).
- 2011: Revenue of $152K, expenses of $133K, and assets of $32K (revenue +89.9% year-over-year).
- 2010: Revenue of $80K, expenses of $70K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom Co Op Inc:
Data Sources and Methodology
This transparency report for Freedom Co Op Inc 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.