Freestore
Freestore shows consistent revenue growth and zero liabilities, with no reported officer compensation.
EIN: 202732304 · Wdm, IA · NTEE: P58 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $934K |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $857K |
| Transparency Score | 92/100 |
Is Freestore Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freestore directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freestore
Freestore (EIN: 202732304) is a nonprofit organization based in Wdm, IA, classified under NTEE code P58. The organization reported total revenue of $934K and total assets of $904K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freestore's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freestore is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$141K |
| Total Assets | $857K |
| Net Assets | $857K |
| Operating Margin | 11.4% |
| Months of Reserves | 9.3 months |
Financial Health Grade: A
In 2023, Freestore reported a surplus of $141K with revenue exceeding expenses, holds 9.3 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Freestore's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.2% | +18.3% | +27.4% |
| 2022 | +63.0% | +56.4% | +15.4% |
| 2021 | +15.7% | +9.0% | +20.1% |
| 2020 | -30.6% | -30.2% | +9.8% |
| 2019 | +50.3% | +25.8% | +18.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Freestore with a Mission Score of 92 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Freestore allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 surplus of $141K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through non-officer categories, which is highly efficient and donor-friendly for an organization of its size with revenues exceeding $1 million.
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.
Strengths
The following positive indicators were identified for Freestore:
- Consistent revenue growth, from $562,780 in 2020 to $1,243,584 in 2023.
- Zero reported liabilities across all filings, indicating strong financial management and no debt.
- 0% officer compensation reported, suggesting highly efficient use of funds and potentially volunteer leadership.
- Healthy asset accumulation, growing from $485,643 in 2020 to $856,683 in 2023.
- Expenses consistently below revenue, allowing for sustainable growth and asset building.
Frequently Asked Questions about Freestore
Is Freestore a legitimate charity?
Based on AI analysis of IRS 990 filings, Freestore (EIN: 202732304) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Freestore spend its money?
Freestore directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Freestore tax-deductible?
Freestore is registered as a tax-exempt nonprofit (EIN: 202732304). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Freestore CEO make?
Freestore's highest-compensated officer earns $1 annually. The organization reported $934K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Freestore's spending goes to programs?
Freestore directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Freestore compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Freestore is above average for NTEE category P58 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freestore located?
Freestore is headquartered in Wdm, Iowa and files with the IRS under EIN 202732304. It is classified under NTEE code P58.
How many years of IRS 990 filings does Freestore have?
Freestore 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 $934K in total revenue.
Is Freestore a good charity?
Based on its IRS 990 data, Freestore appears to be a very good charity. It demonstrates strong financial health with consistent revenue growth, zero reported liabilities, and a remarkable 0% officer compensation, suggesting a high dedication to its mission and efficient use of funds.
How has Freestore's revenue trended over the past few years?
Freestore has shown significant revenue growth, increasing from $562,780 in 2020 to $1,243,584 in 2023, indicating growing support and expanding operations.
Does Freestore have any debt?
No, Freestore consistently reports $0 in liabilities across all available IRS 990 filings, indicating a debt-free financial position.
What is Freestore's approach to executive compensation?
Freestore reports 0% officer compensation in all available filings, suggesting that its executive leadership is either volunteer-based or compensated in a way that does not fall under officer compensation, which is a strong positive for efficiency and donor trust.
Filing History
IRS 990 filing history for Freestore showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freestore's revenue has grown by 156.5%, moving from $485K to $1.2M. Total assets increased by 170.4% over the same period, from $317K to $857K. Total functional expenses rose by 168.4%, from $411K to $1.1M. In its most recent filing year (2023), Freestore reported a surplus of $141K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.1M | $857K | $0 | — | — |
| 2022 | $1.1M | $932K | $673K | $0 | — | View 990 |
| 2021 | $651K | $596K | $583K | $0 | — | View 990 |
| 2020 | $563K | $547K | $486K | $0 | — | View 990 |
| 2019 | $811K | $783K | $442K | $0 | — | View 990 |
| 2018 | $539K | $623K | $375K | $0 | — | View 990 |
| 2017 | $559K | $518K | $477K | $0 | — | View 990 |
| 2016 | $572K | $564K | $404K | $0 | — | View 990 |
| 2015 | $512K | $626K | $388K | $0 | — | View 990 |
| 2014 | $624K | $575K | $503K | $0 | — | View 990 |
| 2013 | $557K | $561K | $446K | $0 | — | View 990 |
| 2012 | $644K | $527K | $434K | $0 | — | View 990 |
| 2011 | $485K | $411K | $317K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.1M, and assets of $857K (revenue +17.2% year-over-year).
- 2022: Revenue of $1.1M, expenses of $932K, and assets of $673K (revenue +63.0% year-over-year).
- 2021: Revenue of $651K, expenses of $596K, and assets of $583K (revenue +15.7% year-over-year).
- 2020: Revenue of $563K, expenses of $547K, and assets of $486K (revenue -30.6% year-over-year).
- 2019: Revenue of $811K, expenses of $783K, and assets of $442K (revenue +50.3% year-over-year).
- 2018: Revenue of $539K, expenses of $623K, and assets of $375K (revenue -3.5% year-over-year).
- 2017: Revenue of $559K, expenses of $518K, and assets of $477K (revenue -2.2% year-over-year).
- 2016: Revenue of $572K, expenses of $564K, and assets of $404K (revenue +11.6% year-over-year).
- 2015: Revenue of $512K, expenses of $626K, and assets of $388K (revenue -18.0% year-over-year).
- 2014: Revenue of $624K, expenses of $575K, and assets of $503K (revenue +12.2% year-over-year).
- 2013: Revenue of $557K, expenses of $561K, and assets of $446K (revenue -13.6% year-over-year).
- 2012: Revenue of $644K, expenses of $527K, and assets of $434K (revenue +32.8% year-over-year).
- 2011: Revenue of $485K, expenses of $411K, and assets of $317K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freestore:
Data Sources and Methodology
This transparency report for Freestore 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.