Freedom Academy INC

Tax-deductible

Kendallville, IN501(c)(3)Since 1994EmploymentEIN 35-1935362

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To enhance the quality of life for those who are willing to enrich their education.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $3K a year · under 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$22K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
-15% vs prior year
Spent
$1.3M
To programs
75%
Net assets
$677K
By yearFY2020–FY2025
Revenue
$1.1M
FY2025▼ -15%
Revenue by fiscal year
FY2020$909K
FY2021$2.0M
FY2022$695K
FY2023$1.1M
FY2024$1.3M
FY2025$1.1M
Expenses
$1.3M
FY2025▲ +0.9%
Expenses by fiscal year
FY2020$990K
FY2021$1.2M
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M
FY2025$1.3M
Net assets
$677K
FY2025▼ -17%
Net assets by fiscal year
FY2020$588K
FY2021$1.5M
FY2022$887K
FY2023$759K
FY2024$817K
FY2025$677K

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1995.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $967K Management & general 25% · $317K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Melissa Carpenter’s $108K as Executive Di is at the 33rd percentile of top reported officer pay among 1246 $1–10M employment 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Melissa Carpenter$107,721$108,706$105,344$105,801$106,178

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Improves lives by enriching education for willing learners.

Provided by the organization

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1 program service account for $967K of program spending, described in the organization's own filed words · FY2025.
01

The organization was established to address the work force and continuing educational needs of the community by providing the necessary training to those individuals who have not had the opportunity to attend a traditional college or technical school.

$967Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$16K
Grants paid · 1 grant · $68K · 2025–2025

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$739K
Gifts and grantsLn 1h$360K
Investment incomeLn 3$22K
Money outPt IX
$1.3M
Ln 25
Programscol B$967K
Managementcol C$317K
Owns and owesPt X
$677K
net assets · Ln 32
Cash and savingsLn 1–2$164K
Total assetsLn 16$699K
LiabilitiesLn 26$22K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$360K
Fees for servicesLn 2g$739K
Investment incomeLn 3$22K
Gains on assetsLn 7$8K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$164K
Cash and savings togetherLn 1–2$164K
Land, buildings, equipmentLn 10c$169K
Other assetsLn 15$294K
Total assetsLn 16$699K
LiabilitiesLn 26$22K
Net assetsLn 32$677K
OperationsPt I, VI
EmployeesI 515
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$321K$164K
Land, buildings, equipmentLn 10c$199K$169K
Total assetsLn 16$862K$699K
LiabilitiesLn 26$45K$22K
Net assetsLn 32$817K$677K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$68K$68K
Grants to domestic individualsLn 2$64K$64K
Pay of current officers, directors and key staffLn 5$119K$119K
Other salaries and wagesLn 7$256K$204K$51K
Pension plan contributionsLn 8$34K$19K$15K
Other employee benefitsLn 9$49K$32K$17K
Payroll taxesLn 10$34K$20K$14K
Management feesLn 11a$38K$14K$24K
Legal feesLn 11b$10K$420$9K
Accounting feesLn 11c$285$285
Other fees for servicesLn 11g$292K$292K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$17K$9K$8K
Information technologyLn 14$24K$15K$9K
OccupancyLn 16$44K$37K$7K
TravelLn 17$15K$12K$3K
Conferences, conventions and meetingsLn 19$9K$6K$3K
InterestLn 20$137$137
Depreciation, depletion and amortizationLn 22$30K$8K$22K
InsuranceLn 23$12K$8K$3K
Other expenses (24a–d)Ln 24$161K$149K$12K
Total functional expensesLn 25$1.3M$967K$317K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.1M$1.3M−$163K$677K 990 PDF
FY2024 $1.3M$1.3M$44K$817K 990 PDF
FY2023 $1.1M$1.3M−$154K$759K 990 PDF
FY2022 $695K$1.2M−$529K$887K 990 PDF
FY2021 $2.0M$1.2M$867K$1.5M 990 PDF
FY2020 $909K$990K−$81K$588K 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $1,120,643 across 6 lines filed
VIII-1f All other contributions, gifts and grants$359,634
VIII-1h Total contributions, gifts and grants$359,634
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $739,077$739,077
VIII-3 Investment incomeExcluded from tax $13,663$13,663
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,269$8,269
VIII-12 Total revenueRelated to mission $739,077 · Excluded from tax $21,932$1,120,643
Part IX · Statement of functional expenses $1,283,735 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $67,675$67,675
IX-2 Grants to domestic individualsPrograms $64,261$64,261
IX-5 Pay of current officers, directors and key staffManagement $119,079$119,079
IX-7 Other salaries and wagesPrograms $204,408 · Management $51,103$255,511
IX-8 Pension plan contributionsPrograms $18,653 · Management $14,857$33,510
IX-9 Other employee benefitsPrograms $31,842 · Management $16,702$48,544
IX-10 Payroll taxesPrograms $20,068 · Management $13,802$33,870
IX-11a Management feesPrograms $13,920 · Management $24,280$38,200
IX-11b Legal feesPrograms $420 · Management $9,243$9,663
IX-11c Accounting feesManagement $285$285
IX-11g Other fees for servicesPrograms $292,448$292,448
IX-12 Advertising and promotionPrograms $8,207$8,207
IX-13 Office expensesPrograms $8,865 · Management $7,747$16,612
IX-14 Information technologyPrograms $14,759 · Management $9,282$24,041
IX-16 OccupancyPrograms $36,981 · Management $7,433$44,414
IX-17 TravelPrograms $12,122 · Management $3,030$15,152
IX-19 Conferences, conventions and meetingsPrograms $6,250 · Management $2,918$9,168
IX-20 InterestManagement $137$137
IX-22 Depreciation, depletion and amortizationPrograms $8,377 · Management $21,899$30,276
IX-23 InsurancePrograms $8,398 · Management $3,338$11,736
IX-24 Other expenses (24a–d)Programs $149,444 · Management $11,502$160,946
IX-25 Total functional expensesPrograms $967,098 · Management $316,637 · Fundraising $0$1,283,735
Part X · Balance sheet $698,791 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $200$200
X-2 Savings and temporary cash investmentsStart of year $320,787$163,777
X-4 Accounts receivableStart of year $8,389$72,055
X-10c Land, buildings and equipment, netStart of year $198,839$168,563
X-15 Other assetsStart of year $334,068$294,196
X-16 Total assetsStart of year $862,283$698,791
X-17 Accounts payable and accrued expensesStart of year $45,170$21,800
X-26 Total liabilitiesStart of year $45,170$21,800
X-32 Total net assets or fund balancesStart of year $817,113$676,991
X-33 Total liabilities and net assetsStart of year $862,283$698,791
Part XI · Reconciliation of net assets $676,991 net assets at year end
XI-1 Total revenue$1,120,643
XI-2 Total expenses$1,283,735
XI-3 Revenue less expenses−$163,092
XI-4 Net assets at start of year$817,113
XI-5 Net unrealized gains (losses) on investments$22,970
XI-10 Net assets at end of year$676,991

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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