Freedom Communities FY2021 filing

Tax-deductible

Charlotte, NC501(c)(3)Community DevelopmentEIN 82-2329303Revenue $1.5M in FY2021

On file with the IRSfreedomcommunities.com3501 Tuckaseegee Rd, 28208-3051 · Charlotte, NCTax-exempt since Mar 2018Publicly supported charity — 170(b)(1)(A)(vi)

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Family centered community transformation.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$115K 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

FY2021 · 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
5 of 5
filings with a surplus
Average surplus $1.1M a year · 45% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$115K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $50K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 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
$1.5M
+30% vs prior year
Spent
$937K
To programs
83%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.5M
FY2022$2.6M
FY2023$2.4M
FY2024$5.1M
Expenses
$937K
FY2021▲ +52%
Tap a bar for its year
Expenses by fiscal year
FY2020$617K
FY2021$937K
FY2022$1.5M
FY2023$1.9M
FY2024$2.1M
Net assets
$1.6M
FY2021▲ +52%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$1.6M
FY2022$2.7M
FY2023$3.2M
FY2024$6.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Mar 2018.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $773K Management & general 13% · $122K Fundraising 4% · $42K

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; $115K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$115,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Director of Operations
$0Pt VII · Sec A

Hannah Beavers’s $147K as Executive Di is at the 44th percentile of top reported officer pay among 2832 $1–10M community development 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

NameFY2024FY2023FY2022FY2021FY2020
Hannah Beavers$146,856$143,306$141,000$115,000$120,000
Suzanne Hunt$33,667————

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

Transforms communities by strengthening families.

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Provided by the organization

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3 programs · $773K · in their own filed words · FY2021
01

Family Stability

Freedom Communities Moms Moving Forward program (MMF) takes a holistic andcommunity-based approach to drive upward mobility and family stability for single mothers and theirchildren. During our paid 12 month program, we work simultaneously with each participant and herchild(ren), connecting them to holistic resources as they build a…

$314Kprogram expense
02

Early Education

We center our programmatic work around a two-generation approach combining parent and child interventions to build family strength and optimal child development. We partner with mothers in our Moms Moving Forward program, linking each mother to holistic resources to support the educational success of her child(ren).Upon learning that the…

$233Kprogram expense
03

Housing & Economic Development

We are place-based, intentionally limiting our geographic service area to go deep and work holistically with families. With a tagline of family-centered community transformation, we investsimultaneously in families and in infrastructure so that as families transform, their community does too.

$226Kprogram expense

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 · FY2025
Emite INCFY2025$15K
Total grants receivedfrom 3 funders$50K
See all 3 funders →
Grants paid · 2 grants · $65K · 2020–2020
YMCANC · FY2020$45,000
Schermbeck Consulting LLCFY2020$20,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$12K
Investment incomeLn 3$1
Money outPt IX
$937K
Ln 25
Programscol B$773K
Managementcol C$122K
Fundraisingcol D$42K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$729K
Total assetsLn 16$2.8M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$1
Other incomeLn 4–11$12K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$729K
Cash and savings togetherLn 1–2$729K
Land, buildings, equipmentLn 10c$2.1M
Total assetsLn 16$2.8M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 55
VolunteersI 6206
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 FY21End FY21
Cash and savingsLn 1–2$741K$729K
Land, buildings, equipmentLn 10c$941K$2.1M
Total assetsLn 16$1.7M$2.8M
LiabilitiesLn 26$627K$1.2M
Net assetsLn 32$1.1M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$115K$98K$14K$3K
Other salaries and wagesLn 7$365K$310K$44K$11K
Other employee benefitsLn 9$25K$21K$3K$737
Payroll taxesLn 10$38K$32K$4K$1K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$8K$8K
Professional fundraising feesLn 11e$2K$2K
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$13K$11K$2K$396
Conferences, conventions and meetingsLn 19$11K$11K
InterestLn 20$16K$16K
Depreciation, depletion and amortizationLn 22$47K$40K$6K$1K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$212K$212K
All other expensesLn 24e$46K$39K$6K$1K
Total functional expensesLn 25$937K$773K$122K$42K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.1M$2.1M$3.0M$6.2M 990 PDF
FY2023 $2.4M$1.9M$527K$3.2M 990 PDF
FY2022 $2.6M$1.5M$1.1M$2.7M 990 PDF
FY2021 Viewing $1.5M$937K$589K$1.6M 990 PDF
FY2020 $1.2M$617K$556K$1.1M 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 FY2021 990 (6 parts)
Part I · Summary $1,525,905 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,167,391$1,514,113
I-9 Program service revenue$0
I-10 Investment incomePrior year $1$1
I-11 Other revenuePrior year $5,669$11,791
I-12 Total revenuePrior year $1,173,061$1,525,905
I-13 Grants and similar amounts paidPrior year $65,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $407,002$542,014
I-16a Professional fundraising fees$2,094
I-17 Other expensesPrior year $145,337$393,120
I-18 Total expensesPrior year $617,339$937,228
I-19 Revenue less expensesPrior year $555,722$588,677
Part VI · Governance 5 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
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 $1,525,905 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,514,113
VIII-1h Total contributions, gifts and grants$1,514,113
VIII-3 Investment incomeRelated to mission $1$1
VIII-6 Net rental income or lossRelated to mission $11,791$11,791
VIII-12 Total revenueRelated to mission $11,792 · Unrelated business $0 · Excluded from tax $0$1,525,905
Part IX · Statement of functional expenses $937,228 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $97,750 · Management $13,800 · Fundraising $3,450$115,000
IX-7 Other salaries and wagesPrograms $310,007 · Management $44,036 · Fundraising $10,671$364,714
IX-9 Other employee benefitsPrograms $20,880 · Management $2,948 · Fundraising $737$24,565
IX-10 Payroll taxesPrograms $32,075 · Management $4,258 · Fundraising $1,402$37,735
IX-11b Legal feesManagement $3,120$3,120
IX-11c Accounting feesManagement $8,424$8,424
IX-11e Professional fundraising feesFundraising $2,094$2,094
IX-11g Other fees for servicesManagement $5,170$5,170
IX-12 Advertising and promotionFundraising $20,559$20,559
IX-13 Office expensesPrograms $11,213 · Management $1,583 · Fundraising $396$13,192
IX-19 Conferences, conventions and meetingsManagement $10,975$10,975
IX-20 InterestManagement $16,355$16,355
IX-22 Depreciation, depletion and amortizationPrograms $39,993 · Management $5,646 · Fundraising $1,412$47,051
IX-23 InsurancePrograms $9,479$9,479
IX-24 Other expenses (24a–d)Programs $212,460$212,460
IX-24e All other expensesPrograms $39,385 · Management $5,560 · Fundraising $1,390$46,335
IX-25 Total functional expensesPrograms $773,242 · Management $121,875 · Fundraising $42,111$937,228
Part X · Balance sheet $2,843,909 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $741,033$729,353
X-4 Accounts receivable$1,294
X-10c Land, buildings and equipment, netStart of year $940,977$2,113,262
X-16 Total assetsStart of year $1,682,010$2,843,909
X-17 Accounts payable and accrued expenses$14,166
X-24 Unsecured notes and loans payableStart of year $377,000$306,216
X-26 Total liabilitiesStart of year $627,000$1,238,005
X-27 Net assets without donor restrictionsStart of year $728,011$1,605,904
X-32 Total net assets or fund balancesStart of year $1,055,010$1,605,904
X-33 Total liabilities and net assetsStart of year $1,682,010$2,843,909
Part XI · Reconciliation of net assets $1,605,904 net assets at year end
XI-1 Total revenue$1,525,905
XI-2 Total expenses$937,228
XI-3 Revenue less expenses$588,677
XI-4 Net assets at start of year$1,055,010
XI-8 Prior period adjustments−$37,783
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,605,904

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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