Freedom That Lasts Ministries
Freedom That Lasts Ministries faces significant financial challenges with expenses consistently exceeding revenue in recent years.
EIN: 204462769 · Greenville, SC · NTEE: P46 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $280K |
| Total Expenses | $245K |
| Program Spending | 70% |
| Net Assets | $199K |
| Transparency Score | 55/100 |
Is Freedom That Lasts Ministries Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom That Lasts Ministries directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Freedom That Lasts Ministries
Freedom That Lasts Ministries (EIN: 204462769) is a nonprofit organization based in Greenville, SC, classified under NTEE code P46. The organization reported total revenue of $280K and total assets of $138K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom That Lasts Ministries's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom That Lasts Ministries is a small nonprofit that has been operating for 19 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of -60.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $48K |
| Total Expenses | $245K |
| Surplus / Deficit | $-197,230 |
| Total Assets | $200K |
| Total Liabilities | $2K |
| Net Assets | $199K |
| Operating Margin | -413.2% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 9.8 months |
Financial Health Grade: B
In 2023, Freedom That Lasts Ministries reported a deficit of $197K with expenses exceeding revenue, holds 9.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 3 years of filings (2021–2023), Freedom That Lasts Ministries's revenue has declined at a compound annual growth rate (CAGR) of -60.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +239.0% | +18.6% | -51.0% |
| 2022 | -95.4% | +384.4% | +55.4% |
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 That Lasts Ministries with a Mission Score of 55 out of 100 (Fair). 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 That Lasts Ministries 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 $197K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Officer compensation has been reported as 0% across all three recent filings, which is commendable and suggests that leadership is not drawing a salary from the organization's funds.
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 That Lasts Ministries's IRS 990 filings:
- Consistent and significant operating deficits (expenses far exceeding revenue) in 2022 and 2023.
- Substantial decline in total assets from $408,712 in 2022 to $137,520 currently, indicating asset depletion.
- Dramatic revenue volatility, with a sharp drop from $305,215 in 2021 to $14,081 in 2022.
Strengths
The following positive indicators were identified for Freedom That Lasts Ministries:
- No reported officer compensation across all three filings, indicating a commitment to minimizing administrative overhead in this area.
- Low liabilities reported in recent periods, suggesting minimal debt burden.
Frequently Asked Questions about Freedom That Lasts Ministries
Is Freedom That Lasts Ministries a legitimate charity?
Based on AI analysis of IRS 990 filings, Freedom That Lasts Ministries (EIN: 204462769) some concerns. Mission Score: 55/100. 3 red flags identified, 2 strengths noted.
How does Freedom That Lasts Ministries spend its money?
Freedom That Lasts Ministries directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Freedom That Lasts Ministries tax-deductible?
Freedom That Lasts Ministries is registered as a tax-exempt nonprofit (EIN: 204462769). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Freedom That Lasts Ministries's spending goes to programs?
Freedom That Lasts Ministries directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Freedom That Lasts Ministries compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Freedom That Lasts Ministries is near average for NTEE category P46 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freedom That Lasts Ministries located?
Freedom That Lasts Ministries is headquartered in Greenville, South Carolina and files with the IRS under EIN 204462769. It is classified under NTEE code P46.
How many years of IRS 990 filings does Freedom That Lasts Ministries have?
Freedom That Lasts Ministries 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 $280K in total revenue.
Is Freedom That Lasts Ministries financially stable?
Based on the IRS 990 data, Freedom That Lasts Ministries does not appear financially stable. Its expenses have significantly outpaced revenue in the last two reported periods (2023 and 2022), and its assets have declined substantially.
What caused the large revenue drop from 2021 to 2022?
The filings show a dramatic drop in revenue from $305,215 in 2021 to $14,081 in 2022. The specific reasons are not detailed in the provided data, but this represents a critical loss of funding that has impacted subsequent financial periods.
How does the organization cover its expenses with such low revenue?
In 2023 and 2022, the organization covered its expenses by drawing down its assets. For example, in 2022, with $14,081 in revenue and $206,490 in expenses, the difference was likely covered by its assets, which decreased from $408,712 to $200,130 between 2022 and 2023.
Filing History
IRS 990 filing history for Freedom That Lasts Ministries showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Freedom That Lasts Ministries's revenue has declined by 84.4%, moving from $305K to $48K. Total assets decreased by 23.9% over the same period, from $263K to $200K. Total functional expenses rose by 474.6%, from $43K to $245K. In its most recent filing year (2023), Freedom That Lasts Ministries reported a deficit of $197K, with expenses exceeding revenue. The organization holds $2K in liabilities against $200K in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $199K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $48K | $245K | $200K | $2K | — | — |
| 2022 | $14K | $206K | $409K | $13K | — | View 990 |
| 2021 | $305K | $43K | $263K | $437 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $48K, expenses of $245K, and assets of $200K (revenue +239.0% year-over-year).
- 2022: Revenue of $14K, expenses of $206K, and assets of $409K (revenue -95.4% year-over-year).
- 2021: Revenue of $305K, expenses of $43K, and assets of $263K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom That Lasts Ministries:
Data Sources and Methodology
This transparency report for Freedom That Lasts 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.