Project Freedom Inc
Project Freedom Inc: Strong Assets, Inconsistent Revenue, and High Administrative Costs
EIN: 222532804 · Lawrenceville, NJ · NTEE: P820 · Updated: 2026-04-04
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 →
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.
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.
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
Is Project Freedom Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Project Freedom Inc (EIN: 222532804) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Project Freedom Inc spend its money?
Project Freedom Inc directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Project Freedom Inc tax-deductible?
Project Freedom Inc is registered as a tax-exempt nonprofit (EIN: 222532804). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Project Freedom Inc do?
Project Freedom Inc is a nonprofit organization in the Human Services sector, located in Lawrenceville, New Jersey. It is classified under NTEE code P820.
How much revenue does Project Freedom Inc have?
Project Freedom Inc reported total revenue of $2,678,475. Based on 13 IRS 990 filings on record.
What are Project Freedom Inc's total assets?
Project Freedom Inc holds total assets of $18,415,256 as reported in IRS 990 filings.
Where is Project Freedom Inc located?
Project Freedom Inc is based in Lawrenceville, New Jersey.
What is Project Freedom Inc's EIN?
Project Freedom Inc's Employer Identification Number (EIN) is 222532804. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Project Freedom Inc?
Project Freedom Inc is classified under NTEE code P820 (Human Services).
Is Project Freedom Inc a registered 501(c)(3)?
Yes, Project Freedom Inc is recognized as a tax-exempt organization by the IRS. EIN: 222532804.
Does Project Freedom Inc file IRS Form 990?
Yes, Project Freedom Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Project Freedom Inc's revenue in 2023?
In the 202312 filing period, Project Freedom Inc reported total revenue of $3,146,732, total expenses of $2,245,265, and net assets of $15,492,075.
Is Project Freedom Inc's revenue growing or declining?
Project Freedom Inc's revenue is growing. Revenue went from $1,238,585 (202212) to $3,146,732 (202312), a +154.1% change. Based on 13 filings on record.
What is Project Freedom Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Project Freedom Inc covers tax period 202312. It shows revenue of $3,146,732, expenses of $2,245,265, total assets of $15,492,075, and liabilities of $8,984,137.
How much does Project Freedom Inc spend on programs vs administration?
Based on IRS 990 analysis, Project Freedom Inc allocates approximately 60% of expenses to program services, 30% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Project Freedom Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Project Freedom Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Project Freedom Inc?
The following concerns were identified: 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.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Project Freedom Inc's strengths?
Positive indicators for Project Freedom Inc include: 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.. These findings are derived from AI analysis of the organization's financial filings.
How does Project Freedom Inc compensate executives?
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 disclosure of officer, director, and key employee pay.
Given the significant fluctuations in revenue, what strategies does Project Freedom Inc employ to ensure long-term financial sustainability and cover consistent expenses?
The data shows revenue ranging from $844,848 to $3,325,760, while expenses are more stable. This suggests reliance on reserves or other funding mechanisms to bridge gaps, but specific strategies are not detailed in the provided financials.
How does Project Freedom Inc manage to grow its assets consistently (from $12,962,768 in 2018 to $15,492,075 in 2023) despite periods where expenses exceed revenue?
Asset growth despite operational deficits in some years could be attributed to investment income, capital contributions not reflected in 'revenue' as defined, or non-cash asset revaluations. Further detail on asset sources would be needed.
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 | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.1M | $2.2M | $15.5M | $9.0M | — | — |
| 2022 | $1.2M | $2.2M | $15.1M | $8.8M | — | — |
| 2021 | $3.0M | $2.0M | $15.7M | $8.4M | — | View 990 |
| 2020 | $3.3M | $1.7M | $14.8M | $8.6M | — | — |
| 2019 | $1.1M | $1.5M | $13.0M | $8.4M | — | View 990 |
| 2018 | $1.4M | $1.5M | $13.0M | $7.9M | — | View 990 |
| 2017 | $845K | $1.5M | $13.6M | $8.0M | — | View 990 |
| 2016 | $1.3M | $1.2M | $13.8M | $7.6M | — | View 990 |
| 2015 | $3.0M | $1.1M | $13.6M | $7.6M | — | View 990 |
| 2014 | $1.9M | $1.1M | $11.2M | $7.2M | — | View 990 |
| 2013 | $830K | $1.1M | $7.5M | $4.2M | — | View 990 |
| 2012 | $1.5M | $958K | $5.1M | $1.7M | — | View 990 |
| 2011 | $577K | $879K | $4.8M | $1.9M | — | View 990 |
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.
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.