Freedom Project Network EIN 81-3494728

Freedom Project Network FY2021 filing

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Supports and resources Freedom Projects for their sustainability and growth. For fiscal year 2021 it reported $433K in revenue, $201K in expenses, and $317K in net assets.Pt I

Founded
2016
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Sunflower, MS
Website
freedomprojectnetwork.org
Filings
3 on file (2021–2021)
Revenue
$433KFY2021
Expenses
$201K
Net assets
$317K
People
9
Filings
3
Updates
0
More identity details & actions ⌄
EIN  81-3494728 Public foundation / grantmaker Sunflower, MS Founded 2016
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Supports and resources Freedom Projects for their sustainability and growth.
Leadership
Ki Harris · Executive Director · $66K
Money in and out
$433K revenue, $201K expenses
Bottom line
80% program efficiency
Grants paid & assets · FY2021
Total revenue
$433K
Pt VIII · Ln 12
Total expenses
$201K
Pt IX · Ln 25
Net assets
$317K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $232K
Where spending went · Part IX cols B–D
Program services $0.80 Management & general $0.17 Fundraising $0.04
Program efficiency
80%
of spending reaches programs
Operating runway
9.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+54%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$433K
FY2021
Expenses
$201K
FY2021
Total assets
$320K
FY2021
Total liabilities
$3K
FY2021
Total revenue
$433K
Pt VIII · Ln 12
Total expenses
$201K
Pt IX · Ln 25
Net assets
$317K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$232K
Total assetsPt X · Ln 16$320K
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $104K of program spending, described in the organization's own filed words · FY2021.
01

Freedom Project Programming Disbursements

As a backbone organization, the FPN delivers on its mission by providing the Freedom Projects with resources that promote operational efficiency and high-quality programming. This year, direct program assistance to the Freedom Projects totaled $42,421, all of which went towards program expenses at the Freedom Projects.

$42Kprogram expense
02

Freedom Summer Collegiate

Freedom Summer Collegiate recruits, trains, and funds doctoral candidates to design and facilitate transformative summer seminars at each Freedom Project site. In this program, high-school Freedom Fellows experience a powerful college simulation from the comfort of the Freedom Project and earn college credit from Millsaps College.

$42Kprogram expense
03

Alumni College Success Program

The Alumni College Success program supports all Freedom Project alumni who matriculate into college by providing mentorship calls, academic coaching, mental health support, and monthly stipends.

$19Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFreedom Project Network
EINHdr · item D81-3494728
Principal addressHdr · item CSunflower, MS
WebsiteHdr · item Jfreedomprojectnetwork.org
Year of formationHdr · item L2016
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFDec 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$66,058Pt VII · Sec A
Board President
$0Pt VII · Sec A
Board Treasurer
$0Pt 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

Latoysha Brown’s $60K as Executive Director is at the 9th percentile of top reported officer pay among 1688 $1–10M philanthropy & grantmaking 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2022FY2021
Ki Harris$24,663$67,500$66,058
Latoysha Brown$60,000$25,385

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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Statement of Revenue

Part VIII
Contributions & grants100%$433K
Total revenueLn 12$433K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.17 Fundraising $0.04
Program services80%$160K
Management & general17%$33K
Fundraising4%$8K
Total functional expensesLn 25$201K

Balance Sheet

Part X · end of year
CashLn 1$165K
Total assetsLn 16$320K
Total liabilitiesLn 26$3K
Total net assetsLn 32$317K
Months of cash on handcomputed9.9

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $165K · Operating expenses/yr $201K
9.9 months
Where the money goes
Program services
Program services $160K · Total expenses $201K
80%
Management & General
Management & general $33K · Total expenses $201K
17%
Fundraising
Fundraising $8K · Total expenses $201K
4%
Cost to raise $1
Fundraising expense $8K · Solicited contributions $433K
$0.02 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $433K · Total revenue $433K
100%
Government reliance
Government grants $0 · Total revenue $433K
0%
Earned-income share
Program service revenue $0 · Total revenue $433K
0%
Investment reliance
Investment income $0 · Total revenue $433K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $201K
0%
Growth & trend
Revenue growth (YoY)
This year $433K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $317K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $433K · Expenses $201K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $320K
Net-asset ratio
Net assets $317K · Total assets $320K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $320K
0%
People & payroll
Highest Reported Total Compensation
Individual Ki Harris · Reported title Executive Director · Highest reported compensation $66K · Total expenses $201K
33%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $75K · Total expenses $201K
37%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 80%
Overhead ratio 17%
Fundraising cost ratio 2%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 10 funders →
Grants paid · 5 grants · $229K · 2021–2022
Meridian Freedom ProjectFY2022$93,400

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$231K revenue · ⤓ 990 PDF
FY2023not on file
FY2022$635K revenue · ⤓ 990 PDF
FY2021$433K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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