Freedom Firm Usa
Freedom Firm USA shows consistent revenue but recent expenses exceeded income, leading to a dip in assets.
EIN: 205280075 · Galax, VA · NTEE: Q330 · Updated: 2026-03-28
Is Freedom Firm Usa Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom Firm Usa directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freedom Firm Usa
Freedom Firm Usa (EIN: 205280075) is a nonprofit organization based in Galax, VA, classified under NTEE code Q330. The organization reported total revenue of $385K and total assets of $397K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Firm Usa's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Firm Usa is a small nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $346K |
| Total Expenses | $418K |
| Surplus / Deficit | $-72,825 |
| Total Assets | $369K |
| Total Liabilities | $521 |
| Net Assets | $368K |
| Operating Margin | -21.1% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 10.6 months |
Financial Health Grade: B
In 2024, Freedom Firm Usa reported a deficit of $73K with expenses exceeding revenue, holds 10.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Freedom Firm Usa's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -19.3% | +13.5% | -16.6% |
| 2023 | -7.2% | +35.8% | +15.2% |
| 2022 | +23.7% | -15.8% | +99.2% |
| 2021 | -6.2% | -16.4% | +35.6% |
| 2020 | +10.6% | -8.1% | +8.2% |
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 Firm Usa with a Mission Score of 88 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Freedom Firm Usa allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $73K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Freedom Firm USA consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly commendable for a nonprofit of its size.
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 Firm Usa's IRS 990 filings:
- Expenses exceeded revenue in the latest filing (202406), leading to a decrease in net assets.
- Fluctuating revenue and expense patterns, with occasional significant expense overruns.
Strengths
The following positive indicators were identified for Freedom Firm Usa:
- Consistent 0% officer compensation, indicating high efficiency in leadership costs.
- Maintained a healthy asset base relative to its annual revenue.
- Demonstrates a long history of IRS 990 filings, indicating transparency and compliance.
Frequently Asked Questions about Freedom Firm Usa
Is Freedom Firm Usa a legitimate charity?
Based on AI analysis of IRS 990 filings, Freedom Firm Usa (EIN: 205280075) some concerns. Mission Score: 88/100. 2 red flags identified, 3 strengths noted.
How does Freedom Firm Usa spend its money?
Freedom Firm Usa directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Freedom Firm Usa tax-deductible?
Freedom Firm Usa is registered as a tax-exempt nonprofit (EIN: 205280075). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Freedom Firm USA financially sustainable given recent expense overruns?
While the organization has experienced periods where expenses exceeded revenue (e.g., 202406 with $418,454 expenses vs. $345,629 revenue), its asset base of $368,873 in 202406 provides a buffer. Continued monitoring of expense management relative to revenue is crucial for long-term sustainability.
How does Freedom Firm USA manage to operate without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation on the 990, which is a significant strength in terms of resource allocation.
What caused the significant increase in liabilities in the 202406 period to $521?
The liabilities increased from $596 in 202306 to $521 in 202406. While this is a decrease, the liabilities have fluctuated. The 990 form itself would need to be reviewed to understand the specific nature of these liabilities and their impact.
Filing History
IRS 990 filing history for Freedom Firm Usa showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Freedom Firm Usa's revenue has grown by 9.9%, moving from $314K to $346K. Total assets increased by 772.9% over the same period, from $42K to $369K. Total functional expenses rose by 53.7%, from $272K to $418K. In its most recent filing year (2024), Freedom Firm Usa reported a deficit of $73K, with expenses exceeding revenue. The organization holds $521 in liabilities against $369K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $368K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $346K | $418K | $369K | $521 | — | — |
| 2023 | $428K | $369K | $442K | $596 | — | View 990 |
| 2022 | $462K | $272K | $384K | $2K | — | View 990 |
| 2021 | $373K | $323K | $193K | $779 | — | View 990 |
| 2020 | $398K | $386K | $142K | $824 | — | — |
| 2019 | $360K | $420K | $131K | $2K | — | View 990 |
| 2018 | $374K | $295K | $191K | $2K | — | View 990 |
| 2017 | $372K | $300K | $111K | $2K | — | View 990 |
| 2016 | $194K | $208K | $40K | $2K | — | View 990 |
| 2015 | $635K | $750K | $52K | $0 | — | View 990 |
| 2014 | $481K | $444K | $168K | $573 | — | View 990 |
| 2013 | $428K | $359K | $140K | $9K | — | View 990 |
| 2012 | $235K | $228K | $50K | $0 | — | View 990 |
| 2011 | $314K | $272K | $42K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $346K, expenses of $418K, and assets of $369K (revenue -19.3% year-over-year).
- 2023: Revenue of $428K, expenses of $369K, and assets of $442K (revenue -7.2% year-over-year).
- 2022: Revenue of $462K, expenses of $272K, and assets of $384K (revenue +23.7% year-over-year).
- 2021: Revenue of $373K, expenses of $323K, and assets of $193K (revenue -6.2% year-over-year).
- 2020: Revenue of $398K, expenses of $386K, and assets of $142K (revenue +10.6% year-over-year).
- 2019: Revenue of $360K, expenses of $420K, and assets of $131K (revenue -3.9% year-over-year).
- 2018: Revenue of $374K, expenses of $295K, and assets of $191K (revenue +0.8% year-over-year).
- 2017: Revenue of $372K, expenses of $300K, and assets of $111K (revenue +91.9% year-over-year).
- 2016: Revenue of $194K, expenses of $208K, and assets of $40K (revenue -69.5% year-over-year).
- 2015: Revenue of $635K, expenses of $750K, and assets of $52K (revenue +32.1% year-over-year).
- 2014: Revenue of $481K, expenses of $444K, and assets of $168K (revenue +12.3% year-over-year).
- 2013: Revenue of $428K, expenses of $359K, and assets of $140K (revenue +82.1% year-over-year).
- 2012: Revenue of $235K, expenses of $228K, and assets of $50K (revenue -25.3% year-over-year).
- 2011: Revenue of $314K, expenses of $272K, and assets of $42K.
Data Sources and Methodology
This transparency report for Freedom Firm Usa 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.