Freedom Academy Inc

Nonprofit profile at a glance

EIN
510584248
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Phoenix, AZ, USA
Phone
6024240771
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$3,023,730
Expenses
$3,490,293
Assets
$8,614,111
Liabilities
$5,951,817

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • CHRISTY NARSI (PRESIDENT)

Highest reported compensation

  • JULIE DOWNING (PRINCIPAL): $90,609 total reported compensation
  • KEVEN BARKER (SCHOOL DIREC): $41,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Freedom academy will provide each student an equal education that will equip them for the future by teaching character with integrity, honor and leadership, the desire to become lifelong learners, and become positive contributors and participants within their families and their communities.

What it reported doing in 2024

At freedom academy, we pride ourselves on the rich education we provide for students as well as the genuine, heart-felt care we offer each child. We look forward to meeting each and every one of you. Our school offers traditional k-8 education, enriched with character building, and teamed with technology, art, and p.e. After-school clubs and sports programs are offered. This year, we had basketball, flag football, soccer, and cheer in addition to various after school opportunities. For our middle school students, we host a njhs leadership program. This program allows middle school students the opportunity to grow and develop their leadership skills, starting with school involvement. The leadership students serve as role models in their school community and are often actively participating in events at school. Younger students are encouraged by the example leadership students set and can't wait to get involved themselves when they enter middle school we also offer an after-school homework club for all grade levels.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.6%; rating input score 88
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: $39.74 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 2.47; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 87.6% of revenue deployed · 77.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $91K · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $117K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 8 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.