Freedom Quilting Bee Legacy
EIN: 844480908 · Alberta, AL · NTEE: A99
| Metric | Value |
|---|---|
| Total Revenue | $460K |
| Total Expenses | $123K |
| Net Assets | $433K |
Is Freedom Quilting Bee Legacy Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Freedom Quilting Bee Legacy
Freedom Quilting Bee Legacy (EIN: 844480908) is a nonprofit organization based in Alberta, AL, classified under NTEE code A99. The organization reported total revenue of $460K and total assets of $680K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Quilting Bee Legacy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Quilting Bee Legacy is a small nonprofit that has been operating for 5 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $299K |
| Total Expenses | $123K |
| Surplus / Deficit | +$176K |
| Total Assets | $445K |
| Total Liabilities | $12K |
| Net Assets | $433K |
| Operating Margin | 58.9% |
| Debt-to-Asset Ratio | 2.7% |
| Months of Reserves | 43.4 months |
Financial Health Grade: A
In 2023, Freedom Quilting Bee Legacy reported a surplus of $176K with revenue exceeding expenses, holds 43.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.7% (very low leverage).
Financial Trends
Over 3 years of filings (2021–2023), Freedom Quilting Bee Legacy's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +235.4% | +18.5% | +69.7% |
| 2022 | -68.6% | +700.9% | -3.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2021 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Freedom Quilting Bee Legacy has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Freedom Quilting Bee Legacy with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $176K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.7%.
Frequently Asked Questions about Freedom Quilting Bee Legacy
Is Freedom Quilting Bee Legacy a legitimate charity?
Freedom Quilting Bee Legacy (EIN: 844480908) is a registered tax-exempt nonprofit based in Alabama. It has 3 years of IRS 990 filings on record. Total revenue: $460K. No red flags identified. Financial health grade: A.
How does Freedom Quilting Bee Legacy spend its money?
Freedom Quilting Bee Legacy reported $460K in total revenue in IRS 990 filings. 3 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Freedom Quilting Bee Legacy tax-deductible?
Freedom Quilting Bee Legacy is registered as a tax-exempt nonprofit (EIN: 844480908). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Freedom Quilting Bee Legacy located?
Freedom Quilting Bee Legacy is headquartered in Alberta, Alabama and files with the IRS under EIN 844480908. It is classified under NTEE code A99.
How many years of IRS 990 filings does Freedom Quilting Bee Legacy have?
Freedom Quilting Bee Legacy has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $460K in total revenue.
Filing History
IRS 990 filing history for Freedom Quilting Bee Legacy showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Freedom Quilting Bee Legacy's revenue has grown by 5.4%, moving from $284K to $299K. Total assets increased by 64.1% over the same period, from $271K to $445K. Total functional expenses rose by 849.4%, from $13K to $123K. In its most recent filing year (2023), Freedom Quilting Bee Legacy reported a surplus of $176K, with revenue exceeding expenses. The organization holds $12K in liabilities against $445K in assets (debt-to-asset ratio: 2.7%), resulting in net assets of $433K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $299K | $123K | $445K | $12K | — | View 990 |
| 2022 | $89K | $104K | $262K | $6K | — | View 990 |
| 2021 | $284K | $13K | $271K | $40 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $299K, expenses of $123K, and assets of $445K (revenue +235.4% year-over-year).
- 2022: Revenue of $89K, expenses of $104K, and assets of $262K (revenue -68.6% year-over-year).
- 2021: Revenue of $284K, expenses of $13K, and assets of $271K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom Quilting Bee Legacy:
Data Sources and Methodology
This transparency report for Freedom Quilting Bee Legacy 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.