Freedom Waters Foundation Inc
Freedom Waters Foundation Inc consistently allocates 100% of its expenses to programs, administration, and fundraising, with no reported officer compensation.
EIN: 204513735 · Naples, FL · NTEE: N67 · Updated: 2026-03-28
Is Freedom Waters Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freedom Waters Foundation Inc directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freedom Waters Foundation Inc
Freedom Waters Foundation Inc (EIN: 204513735) is a nonprofit organization based in Naples, FL, classified under NTEE code N67. The organization reported total revenue of $2.5M and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freedom Waters Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freedom Waters Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $601K |
| Total Expenses | $713K |
| Surplus / Deficit | $-112,168 |
| Total Assets | $428K |
| Net Assets | $428K |
| Operating Margin | -18.7% |
| Months of Reserves | 7.2 months |
Financial Health Grade: B
In 2023, Freedom Waters Foundation Inc reported a deficit of $112K with expenses exceeding revenue, holds 7.2 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Freedom Waters Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.2% | +21.8% | -19.8% |
| 2022 | -11.8% | +2.8% | +1.7% |
| 2021 | +22.4% | +28.4% | +15.8% |
| 2020 | -6.3% | -16.3% | +44.2% |
| 2019 | +65.3% | +26.8% | +22.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Waters Foundation Inc with a Mission Score of 95 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Freedom Waters Foundation Inc allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $112K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership either serves on a purely volunteer basis or receives no reportable compensation, which is highly favorable for resource allocation.
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 Waters Foundation Inc's IRS 990 filings:
- Experienced a deficit in 2023, with expenses ($713,262) exceeding revenue ($601,094).
Strengths
The following positive indicators were identified for Freedom Waters Foundation Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating high efficiency.
- Strong financial stability with assets generally exceeding liabilities (e.g., $427,732 assets and $0 liabilities in 2023).
- Significant revenue growth over the past decade, from $115,509 in 2014 to $601,094 in 2023.
- No reported liabilities in most recent filings (e.g., 2023, 2022, 2021, 2019, 2018, 2017, 2016).
Frequently Asked Questions about Freedom Waters Foundation Inc
Is Freedom Waters Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Freedom Waters Foundation Inc (EIN: 204513735) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does Freedom Waters Foundation Inc spend its money?
Freedom Waters Foundation Inc directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Freedom Waters Foundation Inc tax-deductible?
Freedom Waters Foundation Inc is registered as a tax-exempt nonprofit (EIN: 204513735). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Freedom Waters Foundation Inc a good charity?
Based on the available IRS 990 data, Freedom Waters Foundation Inc appears to be a very good charity. It consistently reports 0% officer compensation, indicating that all funds are directed towards its mission, administrative, and fundraising costs. Its financial health is generally stable, with assets typically exceeding liabilities, and it has shown consistent growth in revenue over the past decade.
How does Freedom Waters Foundation Inc manage its executive compensation?
Freedom Waters Foundation Inc reports 0% officer compensation in all available IRS 990 filings, suggesting that its executive leadership operates on a volunteer basis or receives no reportable compensation, which is a strong indicator of efficient resource allocation.
What is the financial trend of Freedom Waters Foundation Inc?
The organization has shown significant growth, with revenue increasing from $115,509 in 2014 to $601,094 in 2023. While there was a deficit in 2023 (expenses of $713,262 vs. revenue of $601,094), previous years generally show expenses managed within or close to revenue, indicating a healthy financial trend overall.
Filing History
IRS 990 filing history for Freedom Waters Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freedom Waters Foundation Inc's revenue has grown by 513.2%, moving from $98K to $601K. Total assets increased by 1033.9% over the same period, from $38K to $428K. Total functional expenses rose by 760.3%, from $83K to $713K. In its most recent filing year (2023), Freedom Waters Foundation Inc reported a deficit of $112K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $601K | $713K | $428K | $0 | — | View 990 |
| 2022 | $594K | $585K | $534K | $0 | — | View 990 |
| 2021 | $674K | $570K | $525K | $0 | — | View 990 |
| 2020 | $551K | $444K | $453K | $32K | — | View 990 |
| 2019 | $587K | $530K | $314K | $0 | — | View 990 |
| 2018 | $355K | $418K | $257K | $0 | — | View 990 |
| 2017 | $415K | $343K | $320K | $0 | — | View 990 |
| 2016 | $304K | $158K | $248K | $0 | — | View 990 |
| 2015 | $199K | $112K | $105K | $3K | — | View 990 |
| 2014 | $116K | $120K | $20K | $5K | — | View 990 |
| 2013 | $135K | $158K | $22K | $2K | — | View 990 |
| 2012 | $102K | $92K | $44K | $1K | — | View 990 |
| 2011 | $98K | $83K | $38K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $601K, expenses of $713K, and assets of $428K (revenue +1.2% year-over-year).
- 2022: Revenue of $594K, expenses of $585K, and assets of $534K (revenue -11.8% year-over-year).
- 2021: Revenue of $674K, expenses of $570K, and assets of $525K (revenue +22.4% year-over-year).
- 2020: Revenue of $551K, expenses of $444K, and assets of $453K (revenue -6.3% year-over-year).
- 2019: Revenue of $587K, expenses of $530K, and assets of $314K (revenue +65.3% year-over-year).
- 2018: Revenue of $355K, expenses of $418K, and assets of $257K (revenue -14.4% year-over-year).
- 2017: Revenue of $415K, expenses of $343K, and assets of $320K (revenue +36.6% year-over-year).
- 2016: Revenue of $304K, expenses of $158K, and assets of $248K (revenue +52.9% year-over-year).
- 2015: Revenue of $199K, expenses of $112K, and assets of $105K (revenue +72.0% year-over-year).
- 2014: Revenue of $116K, expenses of $120K, and assets of $20K (revenue -14.7% year-over-year).
- 2013: Revenue of $135K, expenses of $158K, and assets of $22K (revenue +32.6% year-over-year).
- 2012: Revenue of $102K, expenses of $92K, and assets of $44K (revenue +4.3% year-over-year).
- 2011: Revenue of $98K, expenses of $83K, and assets of $38K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freedom Waters Foundation Inc:
Data Sources and Methodology
This transparency report for Freedom Waters Foundation Inc 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.