True Freedom Enterprises
EIN: 823134351 · Cleveland, OH · NTEE: T50
| Metric | Value |
|---|---|
| Total Revenue | $458K |
| Total Expenses | $372K |
| Net Assets | $734K |
Is True Freedom Enterprises Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About True Freedom Enterprises
True Freedom Enterprises (EIN: 823134351) is a nonprofit organization based in Cleveland, OH, classified under NTEE code T50. The organization reported total revenue of $458K and total assets of $559K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of True Freedom Enterprises's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
True Freedom Enterprises is a small nonprofit that has been operating for 8 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of -11.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $400K |
| Total Expenses | $372K |
| Surplus / Deficit | +$28K |
| Total Assets | $841K |
| Total Liabilities | $107K |
| Net Assets | $734K |
| Operating Margin | 7.0% |
| Debt-to-Asset Ratio | 12.8% |
| Months of Reserves | 27.1 months |
Financial Health Grade: A
In 2023, True Freedom Enterprises reported a surplus of $28K with revenue exceeding expenses, holds 27.1 months of operating reserves (strong position), has a debt-to-asset ratio of 12.8% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), True Freedom Enterprises's revenue has declined at a compound annual growth rate (CAGR) of -11.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +66.7% | +53.3% | +9.2% |
| 2022 | +22.2% | +24.3% | -2.1% |
| 2021 | -2.2% | +5.0% | -3.5% |
| 2020 | -6.2% | -1.5% | +4.2% |
| 2019 | -71.6% | +80.9% | +1.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2018 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for True Freedom Enterprises has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates True Freedom Enterprises with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.8%.
Frequently Asked Questions about True Freedom Enterprises
Is True Freedom Enterprises a legitimate charity?
True Freedom Enterprises (EIN: 823134351) is a registered tax-exempt nonprofit based in Ohio. It has 6 years of IRS 990 filings on record. Total revenue: $458K. No red flags identified. Financial health grade: A.
How does True Freedom Enterprises spend its money?
True Freedom Enterprises reported $458K in total revenue in IRS 990 filings. 6 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to True Freedom Enterprises tax-deductible?
True Freedom Enterprises is registered as a tax-exempt nonprofit (EIN: 823134351). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is True Freedom Enterprises located?
True Freedom Enterprises is headquartered in Cleveland, Ohio and files with the IRS under EIN 823134351. It is classified under NTEE code T50.
How many years of IRS 990 filings does True Freedom Enterprises have?
True Freedom Enterprises has 6 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 $458K in total revenue.
Filing History
IRS 990 filing history for True Freedom Enterprises showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), True Freedom Enterprises's revenue has declined by 46.9%, moving from $755K to $400K. Total assets increased by 9.6% over the same period, from $767K to $841K. Total functional expenses rose by 256.9%, from $104K to $372K. In its most recent filing year (2023), True Freedom Enterprises reported a surplus of $28K, with revenue exceeding expenses. The organization holds $107K in liabilities against $841K in assets (debt-to-asset ratio: 12.8%), resulting in net assets of $734K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $400K | $372K | $841K | $107K | — | — |
| 2022 | $240K | $243K | $770K | $80K | — | View 990 |
| 2021 | $197K | $195K | $786K | $94K | — | View 990 |
| 2020 | $201K | $186K | $815K | $124K | — | — |
| 2019 | $214K | $189K | $782K | $106K | — | View 990 |
| 2018 | $755K | $104K | $767K | $117K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $400K, expenses of $372K, and assets of $841K (revenue +66.7% year-over-year).
- 2022: Revenue of $240K, expenses of $243K, and assets of $770K (revenue +22.2% year-over-year).
- 2021: Revenue of $197K, expenses of $195K, and assets of $786K (revenue -2.2% year-over-year).
- 2020: Revenue of $201K, expenses of $186K, and assets of $815K (revenue -6.2% year-over-year).
- 2019: Revenue of $214K, expenses of $189K, and assets of $782K (revenue -71.6% year-over-year).
- 2018: Revenue of $755K, expenses of $104K, and assets of $767K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for True Freedom Enterprises:
Data Sources and Methodology
This transparency report for True Freedom Enterprises 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.