Freedom Farm FY2023 filing

Tax-deductible

Waverly, MN501(c)(3)Human ServicesEIN 41-1990650Revenue $309K in FY2023

On file with the IRSfreedomfarmmn.org11500 Ferman Ave Sw, 55390-8609 · Waverly, MNTax-exempt since Jul 2001Publicly supported charity — 170(b)(1)(A)(vi)

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Freedom Farm partners with the unique gifts of the horse to offer healing, hope, confidence, and strength.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$71K 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
2 of 5
filings with a surplus
Average deficit $4K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$71K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$131K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$309K
-21% vs prior year
Spent
$392K
To programs
80%
Net assets
$498K
By yearFY2020–FY2024
Revenue
$309K
FY2023▼ -21%
Tap a bar for its year
Revenue by fiscal year
FY2020$454K
FY2021$346K
FY2022$390K
FY2023$309K
FY2024$272K
Expenses
$392K
FY2023▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$330K
FY2021$351K
FY2022$354K
FY2023$392K
FY2024$363K
Net assets
$498K
FY2023▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$551K
FY2021$546K
FY2022$582K
FY2023$498K
FY2024$406K

From the FY2023 Form 990 · 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 2001.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $315K Management & general 11% · $42K Fundraising 9% · $35K

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

8 people listed on the 990; $71K paid to officers and key staff.

Part VII, Section A · reportable compensation
$71,060Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Susie Bjorklund’s $69K as President is at the 60th percentile of top reported officer pay among 2168 $100K–1M 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Susie Bjorklund$69,290$71,060$65,000$61,880$61,880

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

Offers healing and hope through equine-assisted therapy and programs.

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Provided by the organization

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3 programs · $315K · in their own filed words · FY2023
01

Hope & Healing with Horses

While partnering with the horse, 'Hope & Healing' focuses on developing trust, finding success, and building confidence while providing horsemanship experiences to improve communication.

$205Kprogram expense
02

Mount Up/Walk on

For veterans and active duty service members who are on a path of healing. It's a time to rebuild confidence and trust, focus on the 'here and now and to give back to the community.

$55Kprogram expense
03

Succeed with Horses at Freedom Academy

Freedom Academy is an on-site Accredited Public High School. Students attend the 'Succeed with Horses' class daily where they partner with the horse gaining horsemanship skills and learning to find direction and build positive relationships.

$55Kprogram 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 · FY2025
Total grants receivedfrom 1 funder$30K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$309K
Ln 12
Gifts and grantsLn 1h$194K
Fees for servicesLn 2g$60K
Other incomeLn 4–11$54K
Money outPt IX
$392K
Ln 25
Programscol B$315K
Managementcol C$42K
Fundraisingcol D$35K
Owns and owesPt X
$498K
net assets · Ln 32
Cash and savingsLn 1–2$265K
Total assetsLn 16$630K
LiabilitiesLn 26$131K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$194K
Fundraising eventsLn 1c$41K
Fees for servicesLn 2g$60K
Investment incomeLn 3$317
Other incomeLn 4–11$54K
Total revenueLn 12$309K
Assets in detailPt X, end of year
CashLn 1$105K
SavingsLn 2$159K
Cash and savings togetherLn 1–2$265K
Land, buildings, equipmentLn 10c$365K
Total assetsLn 16$630K
LiabilitiesLn 26$131K
Net assetsLn 32$498K
OperationsPt I, VI
EmployeesI 511
VolunteersI 60
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$338K$265K
Land, buildings, equipmentLn 10c$384K$365K
Total assetsLn 16$722K$630K
LiabilitiesLn 26$140K$131K
Net assetsLn 32$582K$498K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$71K$43K$7K$21K
Other salaries and wagesLn 7$100K$78K$14K$8K
Payroll taxesLn 10$14K$10K$2K$2K
Accounting feesLn 11c$3K$3K
Advertising and promotionLn 12$403$403
Office expensesLn 13$1K$1K
Information technologyLn 14$4K$4K
OccupancyLn 16$36K$36K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$300$300
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$19K$19K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$117K$110K$4K$3K
All other expensesLn 24e$9K$2K$8K
Total functional expensesLn 25$392K$315K$42K$35K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $272K$363K−$90K$406K 990 PDF
FY2023 Viewing $309K$392K−$83K$498K 990 PDF
FY2022 $390K$354K$36K$582K 990 PDF
FY2021 $346K$351K−$5K$546K 990 PDF
FY2020 $454K$330K$124K$551K 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 $309,114 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $250,223$194,414
I-9 Program service revenuePrior year $60,159$60,448
I-10 Investment incomePrior year $90$317
I-11 Other revenuePrior year $79,151$53,935
I-12 Total revenuePrior year $389,623$309,114
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 $153,967$185,546
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $199,552$206,836
I-18 Total expensesPrior year $353,519$392,382
I-19 Revenue less expensesPrior year $36,104−$83,268
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $309,114 across 8 lines filed
VIII-1c Fundraising events$40,802
VIII-1f All other contributions, gifts and grants$153,612
VIII-1h Total contributions, gifts and grants$194,414
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $60,448$60,448
VIII-3 Investment incomeExcluded from tax $317$317
VIII-6 Net rental income or lossExcluded from tax $25,499$25,499
VIII-8 Net income from fundraising eventsExcluded from tax $28,436$28,436
VIII-12 Total revenueRelated to mission $60,448 · Unrelated business $0 · Excluded from tax $54,252$309,114
Part IX · Statement of functional expenses $392,382 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $42,636 · Management $7,106 · Fundraising $21,318$71,060
IX-7 Other salaries and wagesPrograms $78,489 · Management $14,134 · Fundraising $7,710$100,333
IX-10 Payroll taxesPrograms $10,002 · Management $1,754 · Fundraising $2,397$14,153
IX-11c Accounting feesManagement $2,746$2,746
IX-12 Advertising and promotionFundraising $403$403
IX-13 Office expensesManagement $1,055$1,055
IX-14 Information technologyPrograms $3,648$3,648
IX-16 OccupancyPrograms $35,519$35,519
IX-17 TravelPrograms $1,378$1,378
IX-19 Conferences, conventions and meetingsPrograms $300$300
IX-20 InterestManagement $3,895$3,895
IX-22 Depreciation, depletion and amortizationPrograms $18,902$18,902
IX-23 InsurancePrograms $12,302$12,302
IX-24 Other expenses (24a–d)Programs $110,088 · Management $3,710 · Fundraising $3,394$117,192
IX-24e All other expensesPrograms $1,784 · Management $7,712$9,496
IX-25 Total functional expensesPrograms $315,048 · Management $42,112 · Fundraising $35,222$392,382
Part X · Balance sheet $629,838 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $180,240$105,252
X-2 Savings and temporary cash investmentsStart of year $157,835$159,352
X-10c Land, buildings and equipment, netStart of year $384,136$365,234
X-16 Total assetsStart of year $722,211$629,838
X-24 Unsecured notes and loans payableStart of year $140,468$131,363
X-26 Total liabilitiesStart of year $140,468$131,363
X-32 Total net assets or fund balancesStart of year $581,743$498,475
X-33 Total liabilities and net assetsStart of year $722,211$629,838
Part XI · Reconciliation of net assets $498,475 net assets at year end
XI-1 Total revenue$309,114
XI-2 Total expenses$392,382
XI-3 Revenue less expenses−$83,268
XI-4 Net assets at start of year$581,743
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$498,475

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

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