Freedom Virginia Inc

Nonprofit profile at a glance

EIN
851257540
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
3144010501
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Official website

Reported finances

Revenue
$1,333,428
Expenses
$1,747,501
Assets
$504,209
Liabilities
$0

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

Leadership & pay

6 people listed

Highest reported compensation

  • RHENA HICKS (CO-ExecutiveDir): $98,437 total reported compensation
  • RYAN O'TOOLE (CO-ExecutiveDir): $24,469 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 Virginia's mission is to advance common-sense solutions that will ensure all of Virginia's working families have the economic security to thrive.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 66
  • Accountability: 63
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 15%; rating input score 15; 26th percentile among comparable filings
  • 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 35.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 28.5% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 24.3% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $98K · 6 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 15/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.