Project Freedom INC FY2023 filing

Tax-deductible

Lawrenceville, NJ501(c)(3)Human ServicesEIN 22-2532804Revenue $3.1M in FY2023

On file with the IRSprojectfreedom.org1 Freedom Blvd, 08648-4531 · Lawrenceville, NJTax-exempt since Jul 1985Publicly supported charity — 170(b)(1)(A)(vi)

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1. To provide an environment where the physically disabled have the opportunity to be employed and have a family, contribute to society, and make lifestyle choices.2. To provide housing that is accessible to low and moderate income persons with disabilities.

501(c)(3) charity; gifts are tax-deductible.
16¢ of each $1 spent went to programs.
$472K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $582K a year · 22% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
16%
of spending
Concern: 16% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$472K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $18K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9.0M
58% of total assets
Fine: liabilities are 58% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+154% vs prior year
Spent
$2.2M
To programs
16%
Net assets
$6.5M
By yearFY2020–FY2024
Revenue
$3.1M
FY2023▲ +154%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.3M
FY2021$3.0M
FY2022$1.2M
FY2023$3.1M
FY2024$2.7M
Expenses
$2.2M
FY2023-0.2%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$2.2M
FY2023$2.2M
FY2024$2.3M
Net assets
$6.5M
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.3M
FY2021$7.3M
FY2022$6.3M
FY2023$6.5M
FY2024$8.7M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

16 cents of each dollar spent went to programs.

Program services 16% · $355K Management & general 82% · $1.8M Fundraising 3% · $58K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $472K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director - CEO
$185,016Pt VII · Sec A
$149,994Pt VII · Sec A
Director of Housing Develo
$136,500Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Tracee Battis’s $200K as Executive Director - CEO is at the 90th percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Tracee Battis$200,000$185,016$174,898$160,000$185,667
Timothy J Doherty————$188,333
Stephen J Schaefer$155,000$149,994$144,067$137,800$162,333
Anne Hamlin$145,000$136,500———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers accessible housing and employment opportunities for people with disabilities to build families and contribute to society.

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Provided by the organization

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2 programs · $355K · in their own filed words · FY2023
01

To provide housing that is accessible to low and moderate income persons with disabilities, offering an encouraging environment that promotes activity.

$270Kprogram expense
02

To provide day programs, recreation, aquatics programs, and other beneficial activities to promote exercise for disabled people.

$85Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$18K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$2.4M
Gifts and grantsLn 1h$581K
Other incomeLn 4–11$111K
Money outPt IX
$2.2M
Ln 25
Programscol B$355K
Managementcol C$1.8M
Fundraisingcol D$58K
Owns and owesPt X
$6.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$15.5M
LiabilitiesLn 26$9.0M
PeoplePt VI, VII
19
listed · VII A
PaidVII A3
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$581K
Noncash giftsLn 1g$240K
Fees for servicesLn 2g$2.4M
Investment incomeLn 3$25K
Other incomeLn 4–11$111K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$2.2M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$11.4M
Land, buildings, equipmentLn 10c$184K
Total assetsLn 16$15.5M
LiabilitiesLn 26$9.0M
Net assetsLn 32$6.5M
OperationsPt I, VI
EmployeesI 544
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$2.8M$2.2M
InvestmentsLn 11–13$10.8M$11.4M
Land, buildings, equipmentLn 10c$182K$184K
Total assetsLn 16$15.1M$15.5M
LiabilitiesLn 26$8.8M$9.0M
Net assetsLn 32$6.3M$6.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$578K$33K$545K
Other salaries and wagesLn 7$723K$40K$682K
Other employee benefitsLn 9$170K$170K
Payroll taxesLn 10$124K$9K$115K
Legal feesLn 11b$935$935
Other fees for servicesLn 11g$73K$15K$58K
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$96K$5K$91K
TravelLn 17$51K$29K$22K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$29K$29K
Depreciation, depletion and amortizationLn 22$35K$35K
InsuranceLn 23$28K$28K
Other expenses (24a–d)Ln 24$286K$186K$100K
All other expensesLn 24e$26K$26K
Total functional expensesLn 25$2.2M$355K$1.8M$58K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.7M$2.3M$360K$8.7M 990 PDF
FY2023 Viewing $3.1M$2.2M$901K$6.5M 990 PDF
FY2022 $1.2M$2.2M−$1.0M$6.3M 990 PDF
FY2021 $3.0M$2.0M$1.0M$7.3M 990 PDF
FY2020 $3.3M$1.7M$1.6M$6.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,146,732 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $168,624$580,608
I-9 Program service revenuePrior year $990,048$2,429,879
I-10 Investment incomePrior year $7,353$25,295
I-11 Other revenuePrior year $72,560$110,950
I-12 Total revenuePrior year $1,238,585$3,146,732
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,421,034$1,594,850
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $828,208$650,415
I-18 Total expensesPrior year $2,249,242$2,245,265
I-19 Revenue less expensesPrior year −$1,010,657$901,467
Part VI · Governance 15 of 16 board members independent, 2 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,146,732 across 7 lines filed
Lines not itemized here account for $2,432 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$580,608
VIII-1g Noncash contributions (included above)$240,000
VIII-1h Total contributions, gifts and grants$580,608
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,429,879$2,429,879
VIII-3 Investment incomeRelated to mission $25,295$25,295
VIII-8 Net income from fundraising eventsExcluded from tax $108,518$108,518
VIII-12 Total revenueRelated to mission $2,457,606 · Unrelated business $0 · Excluded from tax $108,518$3,146,732
Part IX · Statement of functional expenses $2,245,265 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $33,102 · Management $545,216$578,318
IX-7 Other salaries and wagesPrograms $40,459 · Management $682,212$722,671
IX-9 Other employee benefitsManagement $170,236$170,236
IX-10 Payroll taxesPrograms $8,654 · Management $114,971$123,625
IX-11b Legal feesManagement $935$935
IX-11g Other fees for servicesManagement $15,442 · Fundraising $58,046$73,488
IX-12 Advertising and promotionManagement $21,432$21,432
IX-13 Office expensesPrograms $4,599 · Management $91,165$95,764
IX-17 TravelPrograms $28,519 · Management $22,480$50,999
IX-19 Conferences, conventions and meetingsManagement $4,158$4,158
IX-20 InterestManagement $28,888$28,888
IX-22 Depreciation, depletion and amortizationManagement $34,867$34,867
IX-23 InsurancePrograms $28,224$28,224
IX-24 Other expenses (24a–d)Programs $185,917 · Management $99,935$285,852
IX-24e All other expensesPrograms $25,808$25,808
IX-25 Total functional expensesPrograms $355,282 · Management $1,831,937 · Fundraising $58,046$2,245,265
Part X · Balance sheet $15,492,075 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,801,728$2,207,660
X-4 Accounts receivableStart of year $1,291,092$1,643,907
X-9 Prepaid expenses and deferred chargesStart of year $10,340$16,117
X-10c Land, buildings and equipment, netStart of year $182,392$183,887
X-11 Publicly traded securitiesStart of year $9,010,189$10,065,449
X-13 Program-related investmentsStart of year $1,789,261$1,375,055
X-16 Total assetsStart of year $15,085,002$15,492,075
X-17 Accounts payable and accrued expensesStart of year $45,942$35,484
X-25 Other liabilitiesStart of year $443,109$494,615
X-26 Total liabilitiesStart of year $8,799,531$8,984,137
X-27 Net assets without donor restrictionsStart of year $6,285,471$6,507,938
X-32 Total net assets or fund balancesStart of year $6,285,471$6,507,938
X-33 Total liabilities and net assetsStart of year $15,085,002$15,492,075
Part XI · Reconciliation of net assets $6,507,938 net assets at year end
XI-1 Total revenue$3,146,732
XI-2 Total expenses$2,245,265
XI-3 Revenue less expenses$901,467
XI-4 Net assets at start of year$6,285,471
XI-9 Other changes in net assets−$679,000
XI-10 Net assets at end of year$6,507,938

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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