Joshua M Freeman Foundation

Joshua M Freeman Foundation shows strong revenue and asset growth with no reported officer compensation.

EIN: 208592383 · Selbyville, DE · NTEE: A60 · Updated: 2026-03-28

$20.1MRevenue

$9.5MAssets

90/100Mission Score (Excellent)

A60

About Joshua M Freeman Foundation

Joshua M Freeman Foundation (EIN: 208592383) is a nonprofit organization based in Selbyville, DE, classified under NTEE code A60. The organization reported total revenue of $20.1M and total assets of $9.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Joshua M Freeman Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Joshua M Freeman Foundation demonstrates a generally healthy financial trajectory, with significant growth in both revenue and assets over the past several years. For instance, revenue surged from $1,980,353 in 2020 to $13,002,353 in 2023, indicating strong fundraising or grant acquisition. The organization consistently spends a substantial portion of its income on its mission, as evidenced by expenses closely tracking revenue, such as $11,911,753 in expenses against $13,002,353 in revenue in 2023. This suggests efficient deployment of resources towards its programs.

Asset growth is also notable, increasing from $3,985,326 in 2020 to $8,764,830 in 2023, which provides a solid financial base. The foundation's liabilities have remained manageable relative to its assets, with liabilities of $1,030,499 against assets of $8,764,830 in 2023. A key indicator of transparency and good governance is the consistent reporting of 0% officer compensation across all available filings, which suggests that executive leadership is either unpaid or compensated through other means not categorized as officer compensation on the 990, or that the organization is run by volunteers at the highest level. This practice, if truly indicative of unpaid leadership, significantly reduces administrative overhead and maximizes funds for programs.

Overall, the foundation appears to be financially robust and focused on its mission. The consistent growth in financial metrics, coupled with the reported lack of officer compensation, points to a well-managed and transparent organization. While specific program spending ratios are not provided in the raw data, the close alignment of expenses to revenue and asset growth suggests effective resource utilization.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Joshua M Freeman Foundation with a Mission Score of 90 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, Joshua M Freeman Foundation 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.

Executive Compensation Analysis

The Joshua M Freeman Foundation consistently reports 0% officer compensation across all available filings, indicating that its executive leadership is either entirely volunteer-based or compensated through mechanisms not classified as officer compensation on the IRS 990, which is highly unusual for an organization of its size with over $13 million in annual revenue.

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 Joshua M Freeman Foundation's IRS 990 filings:

Unusually low liabilities relative to assets in some earlier years (e.g., $240,016 liabilities vs $2,681,666 assets in 2018), which could indicate aggressive asset management or specific funding structures.
Reporting 0% officer compensation for an organization with over $13 million in annual revenue is highly unusual and warrants further investigation into how leadership is compensated or sustained.

Strengths

The following positive indicators were identified for Joshua M Freeman Foundation:

Strong and consistent revenue growth, from $1.98 million in 2020 to $13.00 million in 2023.
Significant asset accumulation, increasing from $3.98 million in 2020 to $8.76 million in 2023.
Expenses closely track revenue, suggesting efficient deployment of funds towards its mission (e.g., $11.91 million expenses vs $13.00 million revenue in 2023).
Consistent reporting of 0% officer compensation, indicating a potential commitment to minimizing administrative overhead at the executive level.
Healthy financial reserves with assets significantly exceeding liabilities.

Frequently Asked Questions about Joshua M Freeman Foundation

Is the Joshua M Freeman Foundation financially stable?

Yes, the foundation appears financially stable, demonstrating consistent revenue growth from $1.98 million in 2020 to $13.00 million in 2023, and a significant increase in assets from $3.98 million to $8.76 million over the same period.

How does the foundation manage executive compensation?

The foundation consistently reports 0% officer compensation in its IRS 990 filings, suggesting that its executive leadership is either unpaid or compensated through non-officer categories, which is a notable practice for an organization of its scale.

Has the organization's revenue been growing?

Yes, the organization has experienced substantial revenue growth, particularly from $1,980,353 in 2020 to $13,002,353 in 2023, indicating successful fundraising or increased support.

What is the trend in the foundation's assets?

The foundation's assets have shown a strong upward trend, growing from $3,985,326 in 2020 to $8,764,830 in 2023, indicating a healthy accumulation of resources.

Filing History

IRS 990 filing history for Joshua M Freeman Foundation showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Joshua M Freeman Foundation's revenue has grown by 1163.8%, moving from $1.0M to $13.0M. Total assets increased by 751.8% over the same period, from $1.0M to $8.8M. Total functional expenses rose by 1159.4%, from $946K to $11.9M. In its most recent filing year (2023), Joshua M Freeman Foundation reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $1.0M in liabilities against $8.8M in assets (debt-to-asset ratio: 11.8%), resulting in net assets of $7.7M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$13.0M	$11.9M	$8.8M	$1.0M	—	—
2022	$13.4M	$12.0M	$8.0M	$1.5M	—	View 990
2021	$10.9M	$8.0M	$7.0M	$1.5M	—	View 990
2020	$2.0M	$1.9M	$4.0M	$1.3M	—	—
2019	$6.5M	$6.4M	$3.9M	$1.3M	—	View 990
2018	$7.9M	$9.9M	$2.7M	$240K	—	View 990
2017	$4.3M	$4.3M	$4.9M	$295K	—	View 990
2016	$3.3M	$3.2M	$4.9M	$290K	—	View 990
2015	$2.7M	$2.7M	$4.5M	$91K	—	View 990
2014	$3.7M	$2.0M	$4.4M	$75K	—	View 990
2013	$3.3M	$2.0M	$2.7M	$60K	—	View 990
2012	$1.8M	$1.5M	$1.3M	$40K	—	View 990
2011	$1.4M	$1.4M	$1.1M	$84K	—	View 990
2010	$1.0M	$946K	$1.0M	$44K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $13.0M, expenses of $11.9M, and assets of $8.8M (revenue -2.8% year-over-year).
2022: Revenue of $13.4M, expenses of $12.0M, and assets of $8.0M (revenue +22.9% year-over-year).
2021: Revenue of $10.9M, expenses of $8.0M, and assets of $7.0M (revenue +449.7% year-over-year).
2020: Revenue of $2.0M, expenses of $1.9M, and assets of $4.0M (revenue -69.7% year-over-year).
2019: Revenue of $6.5M, expenses of $6.4M, and assets of $3.9M (revenue -17.0% year-over-year).
2018: Revenue of $7.9M, expenses of $9.9M, and assets of $2.7M (revenue +82.1% year-over-year).
2017: Revenue of $4.3M, expenses of $4.3M, and assets of $4.9M (revenue +31.8% year-over-year).
2016: Revenue of $3.3M, expenses of $3.2M, and assets of $4.9M (revenue +21.5% year-over-year).
2015: Revenue of $2.7M, expenses of $2.7M, and assets of $4.5M (revenue -26.4% year-over-year).
2014: Revenue of $3.7M, expenses of $2.0M, and assets of $4.4M (revenue +11.4% year-over-year).
2013: Revenue of $3.3M, expenses of $2.0M, and assets of $2.7M (revenue +86.8% year-over-year).
2012: Revenue of $1.8M, expenses of $1.5M, and assets of $1.3M (revenue +27.2% year-over-year).
2011: Revenue of $1.4M, expenses of $1.4M, and assets of $1.1M (revenue +34.8% year-over-year).
2010: Revenue of $1.0M, expenses of $946K, and assets of $1.0M.

Data Sources and Methodology

This transparency report for Joshua M Freeman Foundation 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.