True Freedom Enterprises

Nonprofit profile at a glance

EIN
823134351
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2017
Location
Cleveland, OH, USA
Phone
4404883486
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Philanthropy, Charity, Voluntarism Promotion

Official website

Reported finances

Revenue
$457,594
Expenses
$424,999
Assets
$558,765
Liabilities
$127,420

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Michael Swiger (President)

Highest reported compensation

  • Michael Swiger (President): $65,526 total reported compensation

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

Overview

Mission

Prospera Reentry and Transportation exists to revolutionize prisoner reentry in America by reducing recidivism through specializing in: Pre-release prisoner workforce readiness trainingPre-release work release programmingPost-release trade-school training

What it reported doing in 2024

True Freedom Enterprises facilitates a pre-release workforce empowerment program designed to address the staggering 70% unemployment rate returning citizens face upon release from prison. This innovative initiative allows incarcerated individuals, during their last 90 days in prison, to participate in an externship with private companies that enables them to receive: Real-world work experience Transferrable skills Monthly evaluations Employer referrals Re-entry resources The goal of the program is to help returning citizens gain stable employment, which is proven to reduce recidivism. True Freedom has partnered with Ashland University to provide employment skills-based certificates and accredited associates and bachelors degree programming to individuals recently released from prison. Through this unique collaboration, Ashland University has agreed to waive all tuition costs and fees above the Pell Grant, so that True Freedom students receive this free.

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 99% 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. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: $96.31 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: 7.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.31; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 15.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 19.9% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: -4.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 99.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $422K in reported program spending
  • Leadership: top reported pay $66K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.