Freedom Quilting Bee Legacy

Nonprofit profile at a glance

EIN
844480908
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Alberta, AL, USA
Phone
3345732065
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Official website

Reported finances

Revenue
$669,345
Expenses
$375,622
Assets
$959,414
Liabilities
$86,428

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LOUISE W WILLIAMS (PRESIDENT)
  • TAYLOR IRBY (VICE PRESIDENT)
  • KIM KELLY (EXECUTIVE DIRECTOR)

People named in this filing

  • LOUISE W WILLIAMS (PRESIDENT)
  • SHEILA SMITH (TREASURER)
  • PATTIE IRBY (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Freedom quilting bee legacy was created to ensure the heroic, historic, innovative, artisitic and incredible odds-beating work of the women of the original fqb isn't lost to history.

What it reported doing in 2024

The organization's present activities are pursuant to their goals to celebrate and teach about the work and accomplishments of those women (and men) past, present, and future, who made the bee such a powerful artistic and community force; to offer real economic opportunities for a new generation of quilt makers and artisans; to provide solutions to community needs, such as internet access and voter registration for those who otherwise couldn't access it; to advance plans to draw tourism to the area and offer a deeper experience of the fqb legacy history and current activities, with shops, lodging, classes and interactive exhibits; and to preserve the past and evolve into the future by creating jobs, building wealth and teaching life skills to enhance our community. The executive director donates her services to the organization. The value of these services is $180,000.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.5%; rating input score 46
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: $60.9 raised per $1 spent on fundraising; rating input score 81; 81st 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 43.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 2.55; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 72.2% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 30.6% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 39% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 45.5% of revenue deployed · 77.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $293K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.