Freedomworks Foundation Inc

Nonprofit profile at a glance

EIN
521526916
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Haymarket, VA, USA
Phone
2027833870
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$919,613
Expenses
$2,539,746
Assets
$0
Liabilities
$781,057

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ADAM BRANDON (PRESIDENT)

Highest reported compensation

  • ADAM BRANDON (PRESIDENT): $177,178 total reported compensation

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

Overview

Mission

The mission of freedomworks foundation is to educate and empower americans with the principles of individual liberty, small government, and free markets. Education is the animating force that informs the daily activities at freedomworks foundation. The organization was founded in 1984 on the campus of george mason university-a center for american free-market economic thought. Since those early days, we have continued to pursue a goal of preserving liberty by education americans about free-markets, limited government, and individual liberty.

What it reported doing in 2024

Center for economic freedom: the foundation works to constantly engage activists across the country in order to implement its programs. Additionally, education and research programs are conducted to support the community to further its free market and limited government activities. Strategy includes strategic management and discussion about foundation development and creation of future programs. In order to ensure that the foundation is being responsive to its community and key stakeholders, the foundation will continually evaluate programs.

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 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 89
  • Accountability: 83
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 49.6%; rating input score 50
  • Fundraising efficiency: $32.92 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -176.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -8.5% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 49.6% of spending went to programs
  • Governance: 8 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $177K · 9 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.