Freedom Prep Charter School
Freedom Prep Charter School maintains stable operations with growing assets and no reported officer compensation.
EIN: 200683866 · Hightstown, NJ · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $19.9M |
| Total Expenses | $20.4M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $20 |
| Net Assets | $5.2M |
| Transparency Score | 85/100 |
Is Freedom Prep Charter School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom Prep Charter School directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freedom Prep Charter School
Freedom Prep Charter School (EIN: 200683866) is a nonprofit organization based in Hightstown, NJ, classified under NTEE code B29. The organization reported total revenue of $19.9M and total assets of $11.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Prep Charter School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Prep Charter School is a large nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 15.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.9M |
| Total Expenses | $20.4M |
| Surplus / Deficit | $-490,580 |
| Total Assets | $11.3M |
| Total Liabilities | $6.1M |
| Net Assets | $5.2M |
| Operating Margin | -2.5% |
| Debt-to-Asset Ratio | 53.7% |
| Months of Reserves | 6.6 months |
Financial Health Grade: C
In 2023, Freedom Prep Charter School reported a deficit of $491K with expenses exceeding revenue, holds 6.6 months of operating reserves (strong position), has a debt-to-asset ratio of 53.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Freedom Prep Charter School's revenue has grown at a compound annual growth rate (CAGR) of 15.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.5% | +5.8% | -6.1% |
| 2022 | +9.1% | +28.7% | -0.1% |
| 2021 | +18.0% | -3.0% | +42.6% |
| 2020 | -4.0% | -9.5% | +14.3% |
| 2019 | +2.7% | +1.4% | -13.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2008 |
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 Prep Charter School 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Freedom Prep Charter School 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $491K, with expenses exceeding revenue.
- Debt-to-asset ratio: 53.7%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization of this size, with revenues nearing $20 million, and suggests either volunteer leadership or compensation structured in a way not reported as 'officer compensation' on the 990.
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 Prep Charter School's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data prevents full efficiency assessment.
- Consistent 0% officer compensation for an organization of this size is unusual and warrants further inquiry into how leadership is compensated.
Strengths
The following positive indicators were identified for Freedom Prep Charter School:
- Strong asset growth over the past decade, from $1,020,773 in 2014 to $11,273,151 in 2023.
- Consistent operational activity with revenues generally matching expenses, indicating stable management.
- Reported 0% officer compensation across all 13 filings, suggesting high efficiency or volunteer leadership.
- Positive asset-to-liability ratio, indicating financial stability.
- Long and consistent IRS 990 filing history (13 filings), demonstrating transparency and compliance.
Frequently Asked Questions about Freedom Prep Charter School
Is Freedom Prep Charter School a legitimate charity?
Based on AI analysis of IRS 990 filings, Freedom Prep Charter School (EIN: 200683866) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Freedom Prep Charter School spend its money?
Freedom Prep Charter School directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Freedom Prep Charter School tax-deductible?
Freedom Prep Charter School is registered as a tax-exempt nonprofit (EIN: 200683866). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Freedom Prep Charter School CEO make?
Freedom Prep Charter School's highest-compensated officer earns $20 annually. The organization reported $19.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Freedom Prep Charter School's spending goes to programs?
Freedom Prep Charter School directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Freedom Prep Charter School compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Freedom Prep Charter School is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freedom Prep Charter School located?
Freedom Prep Charter School is headquartered in Hightstown, New Jersey and files with the IRS under EIN 200683866. It is classified under NTEE code B29.
How many years of IRS 990 filings does Freedom Prep Charter School have?
Freedom Prep Charter 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 $19.9M in total revenue.
Is Freedom Prep Charter School a good charity?
Based on the available IRS 990 data, Freedom Prep Charter School appears to be a financially stable organization with growing assets and a consistent operational history. The reported 0% officer compensation across all filings is a strong positive indicator for efficiency and transparency. However, a full assessment would require more detailed expense breakdowns to confirm program spending ratios.
How has Freedom Prep Charter School's financial health changed over time?
Freedom Prep Charter School has shown significant growth in both revenue and assets over the past decade. Revenue increased from $4,191,875 in 2014 to $19,923,524 in 2023, and assets grew from $1,020,773 to $11,273,151 in the same period, indicating strong financial growth and stability.
What is the significance of 0% officer compensation?
The consistent reporting of 0% officer compensation is a significant positive for transparency and efficiency, as it suggests that the organization's top leadership is either entirely volunteer-based or compensated through mechanisms not classified as 'officer compensation' on the 990, potentially reducing overhead costs.
Filing History
IRS 990 filing history for Freedom Prep Charter School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freedom Prep Charter School's revenue has grown by 434.2%, moving from $3.7M to $19.9M. Total assets increased by 1560.6% over the same period, from $679K to $11.3M. Total functional expenses rose by 514.9%, from $3.3M to $20.4M. In its most recent filing year (2023), Freedom Prep Charter School reported a deficit of $491K, with expenses exceeding revenue. The organization holds $6.1M in liabilities against $11.3M in assets (debt-to-asset ratio: 53.7%), resulting in net assets of $5.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19.9M | $20.4M | $11.3M | $6.1M | — | View 990 |
| 2022 | $20.4M | $19.3M | $12.0M | $7.6M | — | View 990 |
| 2021 | $18.7M | $15.0M | $12.0M | $8.7M | — | View 990 |
| 2020 | $15.9M | $15.5M | $8.4M | $8.9M | — | View 990 |
| 2019 | $16.5M | $17.1M | $7.4M | $8.3M | — | View 990 |
| 2018 | $16.1M | $16.8M | $8.6M | $8.9M | — | View 990 |
| 2017 | $15.0M | $14.9M | $5.5M | $5.1M | — | View 990 |
| 2016 | $14.0M | $13.9M | $2.5M | $2.2M | — | View 990 |
| 2015 | $10.6M | $10.3M | $2.7M | $2.4M | — | View 990 |
| 2014 | $4.2M | $4.1M | $1.0M | $284K | — | View 990 |
| 2013 | $3.7M | $4.1M | $1.0M | $365K | — | View 990 |
| 2012 | $4.2M | $3.7M | $1.3M | $193K | — | View 990 |
| 2011 | $3.7M | $3.3M | $679K | $58K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19.9M, expenses of $20.4M, and assets of $11.3M (revenue -2.5% year-over-year).
- 2022: Revenue of $20.4M, expenses of $19.3M, and assets of $12.0M (revenue +9.1% year-over-year).
- 2021: Revenue of $18.7M, expenses of $15.0M, and assets of $12.0M (revenue +18.0% year-over-year).
- 2020: Revenue of $15.9M, expenses of $15.5M, and assets of $8.4M (revenue -4.0% year-over-year).
- 2019: Revenue of $16.5M, expenses of $17.1M, and assets of $7.4M (revenue +2.7% year-over-year).
- 2018: Revenue of $16.1M, expenses of $16.8M, and assets of $8.6M (revenue +7.7% year-over-year).
- 2017: Revenue of $15.0M, expenses of $14.9M, and assets of $5.5M (revenue +7.0% year-over-year).
- 2016: Revenue of $14.0M, expenses of $13.9M, and assets of $2.5M (revenue +31.4% year-over-year).
- 2015: Revenue of $10.6M, expenses of $10.3M, and assets of $2.7M (revenue +153.9% year-over-year).
- 2014: Revenue of $4.2M, expenses of $4.1M, and assets of $1.0M (revenue +12.0% year-over-year).
- 2013: Revenue of $3.7M, expenses of $4.1M, and assets of $1.0M (revenue -10.9% year-over-year).
- 2012: Revenue of $4.2M, expenses of $3.7M, and assets of $1.3M (revenue +12.6% year-over-year).
- 2011: Revenue of $3.7M, expenses of $3.3M, and assets of $679K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom Prep Charter School:
Data Sources and Methodology
This transparency report for Freedom Prep Charter 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.