Freedom Farm Ministries
Freedom Farm Ministries shows consistent growth and no reported executive compensation over the past decade.
EIN: 205659740 · Boone, NC · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $670K |
| Program Spending | 90% |
| Net Assets | $628K |
| Transparency Score | 85/100 |
Is Freedom Farm Ministries Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom Farm Ministries directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freedom Farm Ministries
Freedom Farm Ministries (EIN: 205659740) is a nonprofit organization based in Boone, NC. The organization reported total revenue of $1.7M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Farm Ministries's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Farm Ministries is a mid-size 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 7.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $839K |
| Total Expenses | $670K |
| Surplus / Deficit | +$169K |
| Total Assets | $1.0M |
| Total Liabilities | $387K |
| Net Assets | $628K |
| Operating Margin | 20.2% |
| Debt-to-Asset Ratio | 38.1% |
| Months of Reserves | 18.2 months |
Financial Health Grade: A
In 2023, Freedom Farm Ministries reported a surplus of $169K with revenue exceeding expenses, holds 18.2 months of operating reserves (strong position), has a debt-to-asset ratio of 38.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Freedom Farm Ministries's revenue has grown at a compound annual growth rate (CAGR) of 7.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.2% | -1.5% | +17.3% |
| 2022 | +0.6% | +0.0% | +0.4% |
| 2021 | +1.4% | -3.2% | +44.2% |
| 2020 | +33.0% | +18.3% | +32.9% |
| 2019 | +11.4% | +12.3% | +4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Freedom Farm Ministries with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Freedom Farm Ministries allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 surplus of $169K, with revenue exceeding expenses.
- Debt-to-asset ratio: 38.1%.
Executive Compensation Analysis
Freedom Farm Ministries has consistently reported 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers. This suggests a volunteer-led executive structure or that compensation is covered by other means not reported as officer compensation, which is highly unusual for an organization of its size and growth.
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 Farm Ministries's IRS 990 filings:
- Lack of detailed expense breakdown in provided data prevents granular analysis of spending efficiency beyond executive compensation.
Strengths
The following positive indicators were identified for Freedom Farm Ministries:
- Consistent revenue growth, from $556,119 in 2019 to $839,154 in 2023, demonstrating increasing support.
- Significant asset growth, more than doubling from $449,051 in 2019 to $1,014,290 in 2023, indicating strong financial health.
- Zero reported officer compensation across all 13 filings, highlighting a strong commitment to mission and efficient use of funds.
- Positive net income in recent years (e.g., $839,154 revenue vs. $670,050 expenses in 2023), contributing to financial stability.
- Healthy asset-to-liability ratio, with assets significantly exceeding liabilities ($1,014,290 assets vs. $386,780 liabilities in 2023).
Frequently Asked Questions about Freedom Farm Ministries
Is Freedom Farm Ministries a legitimate charity?
Freedom Farm Ministries (EIN: 205659740) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.7M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Freedom Farm Ministries spend its money?
Freedom Farm Ministries directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Freedom Farm Ministries tax-deductible?
Freedom Farm Ministries is registered as a tax-exempt nonprofit (EIN: 205659740). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Freedom Farm Ministries's spending goes to programs?
Freedom Farm Ministries directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Freedom Farm Ministries located?
Freedom Farm Ministries is headquartered in Boone, North Carolina and files with the IRS under EIN 205659740.
How many years of IRS 990 filings does Freedom Farm Ministries have?
Freedom Farm Ministries 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 $1.7M in total revenue.
Is Freedom Farm Ministries a good charity?
Based on the available financial data, Freedom Farm Ministries appears to be a well-managed charity with consistent growth in revenue and assets, and notably, no reported officer compensation. This suggests a strong commitment to its mission and efficient use of funds.
How has Freedom Farm Ministries' financial health changed over time?
Freedom Farm Ministries has shown significant financial growth. Revenue has increased from $556,119 in 2019 to $839,154 in 2023, and assets have more than doubled from $449,051 to $1,014,290 in the same period, indicating a strong upward trend in financial health and capacity.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation across all 13 available filings, which is a highly transparent and mission-focused approach, ensuring that funds are not diverted to executive salaries.
Are there any concerns regarding the organization's liabilities?
While liabilities have increased from $164,432 in 2019 to $386,780 in 2023, the asset growth has outpaced this, with assets at $1,014,290 in 2023. The organization's assets significantly exceed its liabilities, indicating a healthy financial position.
Filing History
IRS 990 filing history for Freedom Farm Ministries showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freedom Farm Ministries's revenue has grown by 139.8%, moving from $350K to $839K. Total assets increased by 157.4% over the same period, from $394K to $1.0M. Total functional expenses rose by 90.7%, from $351K to $670K. In its most recent filing year (2023), Freedom Farm Ministries reported a surplus of $169K, with revenue exceeding expenses. The organization holds $387K in liabilities against $1.0M in assets (debt-to-asset ratio: 38.1%), resulting in net assets of $628K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $839K | $670K | $1.0M | $387K | — | View 990 |
| 2022 | $754K | $681K | $865K | $406K | — | View 990 |
| 2021 | $750K | $680K | $861K | $475K | — | View 990 |
| 2020 | $740K | $703K | $597K | $275K | — | View 990 |
| 2019 | $556K | $594K | $449K | $164K | — | View 990 |
| 2018 | $499K | $529K | $430K | $108K | — | View 990 |
| 2017 | $486K | $464K | $424K | $72K | — | View 990 |
| 2016 | $401K | $425K | $399K | $79K | — | View 990 |
| 2015 | $421K | $439K | $430K | $85K | — | View 990 |
| 2014 | $510K | $529K | $368K | $5K | — | View 990 |
| 2013 | $531K | $534K | $406K | $48K | — | View 990 |
| 2012 | $341K | $345K | $400K | $39K | — | View 990 |
| 2011 | $350K | $351K | $394K | $29K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $839K, expenses of $670K, and assets of $1.0M (revenue +11.2% year-over-year).
- 2022: Revenue of $754K, expenses of $681K, and assets of $865K (revenue +0.6% year-over-year).
- 2021: Revenue of $750K, expenses of $680K, and assets of $861K (revenue +1.4% year-over-year).
- 2020: Revenue of $740K, expenses of $703K, and assets of $597K (revenue +33.0% year-over-year).
- 2019: Revenue of $556K, expenses of $594K, and assets of $449K (revenue +11.4% year-over-year).
- 2018: Revenue of $499K, expenses of $529K, and assets of $430K (revenue +2.7% year-over-year).
- 2017: Revenue of $486K, expenses of $464K, and assets of $424K (revenue +21.3% year-over-year).
- 2016: Revenue of $401K, expenses of $425K, and assets of $399K (revenue -4.7% year-over-year).
- 2015: Revenue of $421K, expenses of $439K, and assets of $430K (revenue -17.6% year-over-year).
- 2014: Revenue of $510K, expenses of $529K, and assets of $368K (revenue -3.9% year-over-year).
- 2013: Revenue of $531K, expenses of $534K, and assets of $406K (revenue +55.5% year-over-year).
- 2012: Revenue of $341K, expenses of $345K, and assets of $400K (revenue -2.4% year-over-year).
- 2011: Revenue of $350K, expenses of $351K, and assets of $394K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom Farm Ministries:
Data Sources and Methodology
This transparency report for Freedom Farm Ministries 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.