The Freedom Academy Foundation
The Freedom Academy Foundation shows strong revenue growth but consistently reports liabilities exceeding assets.
EIN: 134255839 · Provo, UT · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $27.9M |
| Total Expenses | $25.2M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $25 |
| Net Assets | $-5,312,431 |
| Transparency Score | 70/100 |
Is The Freedom Academy Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Freedom Academy Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Freedom Academy Foundation
The Freedom Academy Foundation (EIN: 134255839) is a nonprofit organization based in Provo, UT, classified under NTEE code B29. The organization reported total revenue of $27.9M and total assets of $59.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Freedom Academy Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Freedom Academy Foundation is a large nonprofit that has been operating for 16 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $26.4M |
| Total Expenses | $25.2M |
| Surplus / Deficit | +$1.2M |
| Total Assets | $65.5M |
| Total Liabilities | $70.9M |
| Net Assets | $-5,312,431 |
| Operating Margin | 4.5% |
| Debt-to-Asset Ratio | 108.1% |
| Months of Reserves | 31.2 months |
Financial Health Grade: A
In 2023, The Freedom Academy Foundation reported a surplus of $1.2M with revenue exceeding expenses, holds 31.2 months of operating reserves (strong position), has a debt-to-asset ratio of 108.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Freedom Academy Foundation's revenue has grown at a compound annual growth rate (CAGR) of 16.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.0% | +6.3% | +4.0% |
| 2022 | +13.5% | +17.1% | -2.6% |
| 2021 | +20.1% | +18.5% | +27.1% |
| 2020 | +6.3% | +7.8% | -1.2% |
| 2019 | +28.2% | +18.3% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2010 |
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 The Freedom Academy Foundation with a Mission Score of 70 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, The Freedom Academy Foundation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $1.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 108.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with annual expenses exceeding $25 million. This could indicate that executive compensation is reported under other expense categories or that the organization relies heavily on volunteer leadership, which would be a significant strength.
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 The Freedom Academy Foundation's IRS 990 filings:
- Consistent liabilities exceeding assets, indicating potential solvency issues (e.g., $70.86M liabilities vs. $65.55M assets in 2023).
- 0% reported officer compensation for an organization of this scale, which is highly unusual and may obscure actual leadership compensation.
Strengths
The following positive indicators were identified for The Freedom Academy Foundation:
- Strong and consistent revenue growth over the past decade, from $6.15M in 2014 to $26.43M in 2023.
- Significant asset base, reaching $65.55 million in 2023, indicating substantial operational capacity.
- Consistent reporting of 0% officer compensation, which, if accurate, suggests a highly efficient use of funds for leadership.
Frequently Asked Questions about The Freedom Academy Foundation
Is The Freedom Academy Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Freedom Academy Foundation (EIN: 134255839) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does The Freedom Academy Foundation spend its money?
The Freedom Academy Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Freedom Academy Foundation tax-deductible?
The Freedom Academy Foundation is registered as a tax-exempt nonprofit (EIN: 134255839). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Freedom Academy Foundation CEO make?
The Freedom Academy Foundation's highest-compensated officer earns $25 annually. The organization reported $27.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Freedom Academy Foundation's spending goes to programs?
The Freedom Academy Foundation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Freedom Academy Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), The Freedom Academy Foundation is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Freedom Academy Foundation located?
The Freedom Academy Foundation is headquartered in Provo, Utah and files with the IRS under EIN 134255839. It is classified under NTEE code B29.
How many years of IRS 990 filings does The Freedom Academy Foundation have?
The Freedom Academy Foundation 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 $27.9M in total revenue.
Is The Freedom Academy Foundation financially stable given its consistent liabilities exceeding assets?
While the organization has shown strong revenue growth, its consistent reporting of liabilities exceeding assets (e.g., $70.86M liabilities vs. $65.55M assets in 2023) raises questions about its long-term financial stability and solvency. Further investigation into the nature of these liabilities is recommended.
How does The Freedom Academy Foundation manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation for an organization with over $25 million in annual expenses is highly unusual. This could imply that executive leadership is entirely volunteer-based, compensated through a related entity, or that compensation is categorized differently within the financial statements, warranting further inquiry for full transparency.
What is the primary driver of the organization's significant liabilities?
The filings consistently show liabilities exceeding assets, reaching $70.86 million in 2023. Understanding the nature of these liabilities (e.g., long-term debt, program-related investments, or other obligations) is crucial to assessing the organization's financial health and risk profile.
Filing History
IRS 990 filing history for The Freedom Academy Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Freedom Academy Foundation's revenue has grown by 518.3%, moving from $4.3M to $26.4M. Total assets increased by 513.1% over the same period, from $10.7M to $65.5M. Total functional expenses rose by 509.9%, from $4.1M to $25.2M. In its most recent filing year (2023), The Freedom Academy Foundation reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $70.9M in liabilities against $65.5M in assets (debt-to-asset ratio: 108.1%), resulting in net assets of $-5,312,431.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $26.4M | $25.2M | $65.5M | $70.9M | — | View 990 |
| 2022 | $22.2M | $23.7M | $63.0M | $69.6M | — | View 990 |
| 2021 | $19.6M | $20.3M | $64.7M | $69.7M | — | View 990 |
| 2020 | $16.3M | $17.1M | $50.9M | $55.2M | — | View 990 |
| 2019 | $15.3M | $15.9M | $51.6M | $55.0M | — | View 990 |
| 2018 | $12.0M | $13.4M | $51.9M | $54.8M | — | View 990 |
| 2017 | $9.8M | $10.7M | $9.7M | $11.2M | — | View 990 |
| 2016 | $8.2M | $8.2M | $10.5M | $11.1M | — | View 990 |
| 2015 | $7.0M | $7.2M | $10.3M | $10.9M | — | View 990 |
| 2014 | $6.2M | $6.2M | $10.7M | $11.0M | — | View 990 |
| 2013 | $5.0M | $4.8M | $11.0M | $11.3M | — | View 990 |
| 2012 | $4.4M | $4.4M | $10.7M | $11.1M | — | View 990 |
| 2011 | $4.3M | $4.1M | $10.7M | $11.1M | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $26.4M, expenses of $25.2M, and assets of $65.5M (revenue +19.0% year-over-year).
- 2022: Revenue of $22.2M, expenses of $23.7M, and assets of $63.0M (revenue +13.5% year-over-year).
- 2021: Revenue of $19.6M, expenses of $20.3M, and assets of $64.7M (revenue +20.1% year-over-year).
- 2020: Revenue of $16.3M, expenses of $17.1M, and assets of $50.9M (revenue +6.3% year-over-year).
- 2019: Revenue of $15.3M, expenses of $15.9M, and assets of $51.6M (revenue +28.2% year-over-year).
- 2018: Revenue of $12.0M, expenses of $13.4M, and assets of $51.9M (revenue +22.0% year-over-year).
- 2017: Revenue of $9.8M, expenses of $10.7M, and assets of $9.7M (revenue +19.3% year-over-year).
- 2016: Revenue of $8.2M, expenses of $8.2M, and assets of $10.5M (revenue +17.1% year-over-year).
- 2015: Revenue of $7.0M, expenses of $7.2M, and assets of $10.3M (revenue +14.0% year-over-year).
- 2014: Revenue of $6.2M, expenses of $6.2M, and assets of $10.7M (revenue +24.1% year-over-year).
- 2013: Revenue of $5.0M, expenses of $4.8M, and assets of $11.0M (revenue +12.0% year-over-year).
- 2012: Revenue of $4.4M, expenses of $4.4M, and assets of $10.7M (revenue +3.5% year-over-year).
- 2011: Revenue of $4.3M, expenses of $4.1M, and assets of $10.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Freedom Academy Foundation:
Data Sources and Methodology
This transparency report for The Freedom Academy 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.