Project Freedom Inc

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Project Freedom Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Project Freedom Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Project Freedom Inc in one place.

Is Project Freedom Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Project Freedom Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Keep the Investigation Moving

Project Freedom Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.

About Project Freedom Inc

Project Freedom Inc (EIN: 222532804) is a nonprofit organization based in Lawrenceville, NJ, classified under NTEE code P820. The organization reported total revenue of $2.7M and total assets of $18.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Project Freedom Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Project Freedom Inc is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 15.2%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Project Freedom Inc reported a surplus of $901K with revenue exceeding expenses, holds 82.8 months of operating reserves (strong position), has a debt-to-asset ratio of 58.0% (high leverage).

Financial Trends

Over 13 years of filings (2011–2023), Project Freedom Inc's revenue has grown at a compound annual growth rate (CAGR) of 15.2%.

IRS Tax-Exempt Classification

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 Project Freedom Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 30%
• programs: 60%
• fundraising: 10%

According to IRS 990 filings, Project Freedom Inc allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $901K, with revenue exceeding expenses.
• Debt-to-asset ratio: 58.0%.

Executive Compensation Analysis

Executive compensation cannot be assessed as specific compensation figures for executives are not provided in the given data.

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 Project Freedom Inc's IRS 990 filings:

• Revenue has been highly inconsistent, fluctuating significantly year-over-year (e.g., $3,146,732 in 2023 vs. $1,238,585 in 2022).
• Expenses have often exceeded revenue in several years (e.g., 2022: revenue $1,238,585, expenses $2,249,242), indicating potential operational deficits.
• The percentage of administrative spending appears high given the overall expense structure, suggesting a need for efficiency review.

Strengths

The following positive indicators were identified for Project Freedom Inc:

• The organization maintains a substantial asset base, with total assets consistently above $12 million since 2017, reaching $15,492,075 in 2023.
• Project Freedom Inc has a long operational history, with financial data available back to 2016, suggesting established presence.
• Despite revenue fluctuations, the organization has managed to maintain and grow its asset base, indicating sound financial management in asset accumulation.

Frequently Asked Questions about Project Freedom Inc

Filing History

IRS 990 filing history for Project Freedom Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Project Freedom Inc's revenue has grown by 445.3%, moving from $577K to $3.1M. Total assets increased by 220.1% over the same period, from $4.8M to $15.5M. Total functional expenses rose by 155.3%, from $879K to $2.2M. In its most recent filing year (2023), Project Freedom Inc reported a surplus of $901K, with revenue exceeding expenses. The organization holds $9.0M in liabilities against $15.5M in assets (debt-to-asset ratio: 58.0%), resulting in net assets of $6.5M.

Year-by-Year Financial Summary

• 2023: Revenue of $3.1M, expenses of $2.2M, and assets of $15.5M (revenue +154.1% year-over-year).
• 2022: Revenue of $1.2M, expenses of $2.2M, and assets of $15.1M (revenue -58.9% year-over-year).
• 2021: Revenue of $3.0M, expenses of $2.0M, and assets of $15.7M (revenue -9.5% year-over-year).
• 2020: Revenue of $3.3M, expenses of $1.7M, and assets of $14.8M (revenue +208.4% year-over-year).
• 2019: Revenue of $1.1M, expenses of $1.5M, and assets of $13.0M (revenue -25.3% year-over-year).
• 2018: Revenue of $1.4M, expenses of $1.5M, and assets of $13.0M (revenue +70.8% year-over-year).
• 2017: Revenue of $845K, expenses of $1.5M, and assets of $13.6M (revenue -34.7% year-over-year).
• 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $13.8M (revenue -57.2% year-over-year).
• 2015: Revenue of $3.0M, expenses of $1.1M, and assets of $13.6M (revenue +55.5% year-over-year).
• 2014: Revenue of $1.9M, expenses of $1.1M, and assets of $11.2M (revenue +134.0% year-over-year).
• 2013: Revenue of $830K, expenses of $1.1M, and assets of $7.5M (revenue -43.0% year-over-year).
• 2012: Revenue of $1.5M, expenses of $958K, and assets of $5.1M (revenue +152.6% year-over-year).
• 2011: Revenue of $577K, expenses of $879K, and assets of $4.8M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Project Freedom Inc:

Data Sources and Methodology

This transparency report for Project Freedom 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.