Freedom Project Network EIN 81-3494728 Form 990 (PDF) Claim this org

Freedom Project Network FY2024 filing

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Supports and resources Freedom Projects for their sustainability and growth. For fiscal year 2024 it reported $231K in revenue, $536K in expenses, and $1.1M in net assets.Pt I

Founded
2016
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Sunflower, MS
Website
freedomprojectnetwork.org
Filings
3 on file (2021–2024)
Revenue
$231KFY2024
Expenses
$536K
Net assets
$1.1M
People
45
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 FY2024 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
Latoysha Brown · Executive Director · $39K
Money in and out
$231K revenue, $536K expenses
Bottom line
500.3mo operating runway
Grants paid & assets · FY2024
Total revenue
$231K
Pt VIII · Ln 12
Total expenses
$536K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$304K
Where spending went · Part IX cols B–D
Program services $0.72 Management & general $0.19 Fundraising $0.08
Operating runway
500.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-132%
revenue over expenses, this year
Donor-funded
487%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$231K
FY2024▼ -64%
Expenses
$536K
FY2024▲ +59%
Total assets
$1.1M
FY2024▲ +72%
Total liabilities
$13K
FY2024▼ -100%
Total revenue
$231K
Pt VIII · Ln 12
Total expenses
$536K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$304K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B72%
Voting members of governing bodyPt I · Ln 322
Independent voting membersPt I · Ln 422

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 1a22
Independent voting membersPt VI · Ln 1b22
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 · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$39,230Pt VII · Sec A
Executive Director
$25,385Pt VII · Sec A
Executive Director
$24,663Pt 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
Board Member
$0Pt VII · Sec A

Latoysha Brown’s $60K as Executive Director is at the 9th percentile of top reported officer pay among 1690 $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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Mission & Programs · Part III

Where the work happens

4 program services account for $615K of program spending, described in the organization's own filed words · FY2023.
01

Freedom Project Programming

Through afterschool programming during the fall and spring semesters, FPN Fellows explore past and present movements, express themselves through the arts, and build organizing efforts to gain racial, educational, and social equity in their communities.

$278Kprogram expense
02

Freedom Project Programming

Through afterschool programming, FPN Fellows explore past and present movements, express themselves through the arts, and build organizing efforts to gain racial, educational, and social equity in their communities.

$251Kprogram 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.

$50Kprogram expense
04

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.

$36Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$1.1M · 487%
Investment income$3K · 2%
Contributions & grants487%$1.1M
Investment income2%$3K
Total revenueLn 12$231K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.72 Management & general $0.19 Fundraising $0.08
Program services72%$387K
Management & general19%$104K
Fundraising8%$45K
Total functional expensesLn 25$536K

Balance Sheet

Part X · end of year
CashLn 1$670K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$13K
Total net assetsLn 32$1.1M
Months of cash on handcomputed15.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $670K · Operating expenses (Pt IX) $536K · Less non-cash grants $520K · Cash operating expenses/yr $16K
500.3 months
Where the money goes
Program services
Program services $322K · Total expenses $376K
not reported
Management & General
Management & general $39K · Total expenses $376K
not reported
Fundraising
Fundraising $14K · Total expenses $376K
not reported
Cost to raise $1
Fundraising expense (3-yr avg) $12K · Solicited contributions (3-yr avg) $732K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.1M · Total revenue $231K
487%
Government reliance
Government grants $0 · Total revenue $231K
0%
Earned-income share
Program service revenue $0 · Total revenue $231K
0%
Investment reliance
Investment income $3K · Total revenue $231K
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $536K
0%
Growth & trend
Revenue growth (YoY)
This year $231K · Prior year $635K
-64%
Net-asset trend (YoY)
End of year $1.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $231K · Expenses $536K
-132%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
Net-asset ratio
Net assets $1.1M · Total assets $1.1M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.1M
0%
People & payroll
Highest Reported Total Compensation
Individual Latoysha Brown · Reported title Executive Director · Highest reported compensation $39K · Total expenses $536K
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $165K · Total expenses $536K
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 72%
Overhead ratio 19%
Fundraising cost ratio 4%
Revenue growth -64%
Accounting fee ratio 2%

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 · viewing · ⤓ 990 PDF
FY2023not on file
FY2022$635K revenue · ⤓ 990 PDF
FY2021$433K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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