The Liberty Fund Inc

Nonprofit profile at a glance

EIN
383974312
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
New York, NY, USA
Phone
2126285207
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Legal Services

Reported finances

Revenue
$539,786
Expenses
$468,883
Assets
$1,259,355
Liabilities
$137,214

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DAVID LONG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANTHONY J MANGIONE (CFAO): $378,043 total reported compensation
  • FELIPE VARGAS (BOARD DIRECTOR/VP OF PROGRAMS TDF): $283,357 total reported compensation
  • DAVID LONG (EXECUTIVE DIRECTOR): $153,391 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 liberty fund, inc's purpose is to reduce the number of new yorkers subjected to unnecessary pretrial detention while simultaneously providing much needed social services to this population. This is achieved by providing bail and case management services to any qualifying client throughout their pendency of their court case. The liberty fund reduces the pretrial jail population, prevents the poorest new yorkers from having their lives upended and their freedom sacrificed, and provides support in order to avoid future interaction with the criminal justice system.

Operating model

Revenue model
Grant-funded. 60% of the money available for current operations came from government grants.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 65
  • Accountability: 76
  • Sustainability: 59
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.9%; rating input score 79
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.1%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 2.69; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 21.1%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -10.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -9.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 78.9% of revenue deployed · 90.4% of spending went to programs
  • Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $424K in reported program spending
  • Leadership: top reported pay $378K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 40 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.