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Let Freedom Ring Foundation EIN 83-1053673

Let Freedom Ring Foundation

EIN  83-1053673 Supporting organization Williamsburg, VA
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Size
$100K–1M
What they do
Preserves historic buildings and artifacts for future generations.
Leadership
Connie Matthews Harshaw · President
Money in and out
$347K revenue, $118K expenses
Bottom line
+66% net inflow

Preserves historic buildings and artifacts for future generations. For fiscal year 2024 it reported $347K in revenue, $118K in expenses, and $357K in net assets.Pt I

Money in and out · FY2024
Total revenue
$347K
Pt VIII · Ln 12
Total expenses
$118K
Pt IX · Ln 25
Net assets
$357K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $230K
Where spending went · Part IX cols B–D
Program services $0.80 Management & general $0.20
Net inflow
+66%
revenue over expenses, this year▲ +833% vs prior filing year
Pass-through gifts
90%
of revenue from contributions▼ -1% vs prior filing year
Program spending
80%
of expenses reach stated programs▼ -15% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$347K
FY2024▲ +17%
Expenses
$118K
FY2024▼ -57%
Total assets
$357K
FY2024▲ +180%
Total liabilities
$0
FY2024
Total revenue
$347K
Pt VIII · Ln 12
Total expenses
$118K
Pt IX · Ln 25
Net assets
$357K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$230K
Total assetsPt X · Ln 16$357K
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

1 program service account for $94K of program spending, described in the organization's own filed words · FY2024.
01

PROTECT/PRESERVE historic FBC building and artifacts.

$94Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLet Freedom Ring Foundation
EINHdr · item D83-1053673
Principal addressHdr · item CWilliamsburg, VA
WebsiteHdr · item Jwww.firstbaptistchurch1776.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFReligion (X21)
Ruling yearIRS BMFJul 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
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
$0Pt VII · Sec A
Richard Dickerson
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Beall
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Let Freedom Ring Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$312K · 90%
Other revenue$24K · 7%
Program service revenue$11K · 3%
Contributions & grants90%$312K
Other revenue7%$24K
Program service revenue3%$11K
Investment income$32
— government grantsLn 1e$250K
Total revenueLn 12$347K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.20
Program services80%$94K
Management & general20%$24K
Total functional expensesLn 25$118K

Balance Sheet

Part X · end of year
CashLn 1$357K
Total assetsLn 16$357K
Total liabilitiesLn 26$0
Total net assetsLn 32$357K
Months of cash on handcomputed36.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $357K · Operating expenses/yr $118K
36.4 months
Where the money goes
Program services
Program services $94K · Total expenses $118K
80%
Management & General
Management & general $24K · Total expenses $118K
20%
Fundraising
Fundraising $0 · Total expenses $118K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $194K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $312K · Total revenue $347K
90%
Government reliance
Government grants $250K · Total revenue $347K
72%
Earned-income share
Program service revenue $11K · Total revenue $347K
3%
Investment reliance
Investment income $32 · Total revenue $347K
0%
Program self-sufficiency
Program service revenue $11K · Total expenses $118K
10%
Growth & trend
Revenue growth (YoY)
This year $347K · Prior year $296K
+17%
Net-asset trend (YoY)
End of year $357K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $347K · Expenses $118K
+66%
Liabilities-to-Assets
Total liabilities — · Total assets $357K
—
Net-asset ratio
Net assets $357K · Total assets $357K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $357K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Connie Matthews Harshaw · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $118K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $118K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 80%——
Overhead ratio 20%——
Fundraising cost ratio 0%——
Revenue growth 17%——
Accounting fee ratio 4%——

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
Han Zhang and Jinlan Liu FoundationFY2024$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 4 grants · $263K · 2022–2024
The Historic First Baptist ChurchFY2024$21,400
Unitemized GrantFY2024$6,000
The Historic First Baptist ChurchFY2023$203,541
The Historic First Baptist ChurchFY2022$31,857

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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 (Latest)$347K revenue · viewing · ⤓ 990 PDF
FY2023$296K revenue · ⤓ 990 PDF
FY2022$183K revenue · ⤓ 990 PDF
FY2021$176K 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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