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← LIBERTY INITIATIVE FUND

Form 990 for tax year 2024

Filed by LIBERTY INITIATIVE FUND.

Totals

Total revenue
$3,948,244
Total expenses
$3,824,685
Contributions and grants received
$3,867,446
Grants paid
$452,989
Program service revenue
$0
Investment income
$0
Other revenue
$80,798
Total assets, end of year
$677,687
Total liabilities, end of year
$121,410
Net assets or fund balances, end of year
$556,277
Program services expenses (Part IX)
$3,776,101
Management and general expenses
$48,584
Fundraising expenses
$0
Program service expenses (Part III)
$3,776,101

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,867,446

  • 11a · Other revenue: MISCELLANEOUS

    total $80,798 · excluded $80,798

  • 11e · Other revenue, total

    $80,798

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $452,989 · program services $452,989

  • 5 · Compensation of officers, directors and key employees

    total $126,000 · program services $126,000

  • 7 · Other salaries and wages

    total $169,929 · program services $169,929

  • 8 · Pension plan contributions

    total $9,823 · program services $9,823

  • 9 · Other employee benefits

    total $42,644 · program services $42,644

  • 10 · Payroll taxes

    total $23,281 · program services $23,281

  • 11b · Fees: legal

    total $48,451 · program services $32,101 · management and general $16,350

  • 11c · Fees: accounting

    total $27,934 · program services $6,376 · management and general $21,558

  • 11d · Fees: lobbying

    total $142,003 · program services $142,003

  • 11g · Fees: other

    total $2,440,008 · program services $2,439,636 · management and general $372

  • 12 · Advertising and promotion

    total $177,933 · program services $177,658 · management and general $275

  • 13 · Office expenses

    total $54,529 · program services $52,583 · management and general $1,946

  • 14 · Information technology

    total $12,313 · program services $12,177 · management and general $136

  • 17 · Travel

    total $53,321 · program services $53,222 · management and general $99

  • 19 · Conferences, conventions and meetings

    total $3,367 · program services $3,367

  • 23 · Insurance

    total $7,848 · management and general $7,848

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $15,000 · program services $15,000

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $11,529 · program services $11,529

  • 24c · Other expenses: OTHER EXPENSES

    total $5,783 · program services $5,783

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,918 · end of year $45,054

  • 2 · Savings and temporary cash investments

    beginning of year $484,451

  • 4 · Accounts receivable

    beginning of year $145,161 · end of year $612,621

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,385 · end of year $20,012

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,010 · end of year $46,970

  • 24 · Unsecured notes and loans payable

    beginning of year $74,440 · end of year $74,440

  • 27 · Net assets without donor restrictions

    beginning of year $577,465 · end of year $556,277

Mission and programs · 2024

Mission

LIBERTY INITIATIVE FUND PROMOTES GOVERNMENTAL ACCOUNTABILITY AND PROTECTS PERSONAL AND ECONOMIC FREEDOM PRIMARILY BY ADVOCATING FOR CITIZEN INITIATIVES AND OTHER BALLOT MEASURES THAT SUPPORT LIBERTY AND OPPOSING THOSE BALLOT MEASURES THAT REDUCE LIBERTY AND GOVERNMENTAL ACCOUNTABILITY.

Activities or mission (Part I)

TO RALLY AMERICANS TO RESTORE GREATER CITIZEN CONTROL OF GOVERNMENT BY ASSISTING CITIZENS IN TAKING THE INITIATIVE OR REFERENDUM OR RECALL PROCESS TO INCREASE OUR LIBERTY ESPECIALLY BY PLACING MEASURES ON STATE AND LOCAL BALLOTS.

  • IN 2023, LIBERTY INITIATIVE FUND WORKED WITH AN ARIZONA POLITICAL COMMITTEE TO ACTIVATE SUPPORT FOR TWO BALLOT MEASURES - BACK THE BLUE AND KIDS ARE NOT FOR SALE - WHICH THE LEGISLATURE PLACED ON THE 2024 BALLOT AS PROPOSITIONS 311 AND 313.LIBERTY INITIATIVE FUND ALSO WORKED WITH CITIZEN-ONLY VOTING ACTIVISTS AND STATE LEGISLATORS TO PROMOTE CITIZEN ONLY VOTING AMENDMENTS IN THE FOLLOWING 14 STATES: ARKANSAS, IDAHO, IOWA, KANSAS, KENTUCKY, MISSOURI, NEW YORK, NORTH CAROLINA, OKLAHOMA, SOUTH CAROLINA, SOUTH DAKOTA, TEXAS, WEST VIRGINIA AND WISCONSIN.ADDITIONALLY, LIBERTY INITIATIVE FUND CONTRIBUTED OVER $50,000 AND CONSIDERABLE ADVICE AND COUNSEL TO THE 2023 PETITION DRIVE THAT PLACED A CONGRESSIONAL AGE LIMIT MEASURE ON THE 2024 NORTH DAKOTA BALLOT.

    Expenses $3,776,101 · Grants $452,989

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Paul Jacob

    PRESIDENT

    Total calculated
    $221,650
    From this org
    $126,000
    From related orgs
    $54,000
    Other
    $41,650
    Hours/week
    20 + 35 related

    Schedule J breakdown matched by us

    Base
    $126,000 + $54,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $6,300 + $2,770 related
    Nontaxable benefits
    $22,806 + $9,774 related
    Filer's total
    $155,106 + $66,544 related

  • Frank Gilbert

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Michelle Esentan

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202533219349300218

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