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← FREEDOM COMMUNITIES

Form 990 for tax year 2023

Filed by FREEDOM COMMUNITIES.

Totals

Total revenue
$2,437,047
Total expenses
$1,909,714
Contributions and grants received
$1,789,841
Grants paid
$0
Program service revenue
$499,734
Investment income
$28,531
Other revenue
$118,941
Total assets, end of year
$6,580,244
Total liabilities, end of year
$3,332,547
Net assets or fund balances, end of year
$3,247,697
Program services expenses (Part IX)
$1,515,048
Management and general expenses
$239,484
Fundraising expenses
$155,182
Program service expenses (Part III)
$1,515,048

Program services were 79.3% 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.

  • 1e · Government grants (contributions)

    $114,008

  • 1f · All other contributions, gifts and grants

    $1,675,833

  • 1g · Noncash contributions included above

    $17,698

  • 2a · Program service revenue: AFFORDABLE HOUSING

    total $499,734 · related or exempt $499,734

  • 3 · Investment income

    total $28,531 · excluded $28,531

  • 6a · Gross rents

    real property $31,156

  • 6c · Rental income or loss

    real property $31,156

  • 6d · Net rental income or loss

    total $31,156 · related or exempt $31,156

  • 11a · Other revenue: OTHER INCOME

    total $87,785 · related or exempt $87,785

  • 11e · Other revenue, total

    $87,785

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $143,306 · program services $114,646 · management and general $14,330 · fundraising $14,330

  • 7 · Other salaries and wages

    total $729,582 · program services $581,088 · management and general $74,247 · fundraising $74,247

  • 9 · Other employee benefits

    total $68,849 · program services $55,079 · management and general $6,885 · fundraising $6,885

  • 10 · Payroll taxes

    total $70,730 · program services $56,584 · management and general $7,073 · fundraising $7,073

  • 11b · Fees: legal

    total $15,250 · management and general $15,250

  • 11c · Fees: accounting

    total $28,820 · management and general $28,820

  • 11g · Fees: other

    total $992 · management and general $992

  • 12 · Advertising and promotion

    total $25,978 · fundraising $25,978

  • 13 · Office expenses

    total $30,539 · program services $24,997 · management and general $5,542

  • 16 · Occupancy

    total $140,236 · program services $112,188 · management and general $14,024 · fundraising $14,024

  • 20 · Interest

    total $64,947 · program services $43,947 · management and general $21,000

  • 22 · Depreciation, depletion and amortization

    total $52,515 · program services $42,347 · management and general $5,084 · fundraising $5,084

  • 23 · Insurance

    total $15,871 · program services $15,871

  • 24a · Other expenses: MOMS MOVING FORWARD

    total $223,378 · program services $223,378

  • 24b · Other expenses: EDUCATION SUPPORT

    total $145,574 · program services $145,574

  • 24c · Other expenses: MISCELLANEOUS

    total $63,910 · program services $10,112 · management and general $46,237 · fundraising $7,561

  • 24d · Other expenses: ECONOMIC & COMMUNITY DEV

    total $60,682 · program services $60,682

  • 24e · All other expenses

    total $28,555 · program services $28,555

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,218,220 · end of year $1,453,717

  • 4 · Accounts receivable

    beginning of year $28,305 · end of year $154,461

  • 9 · Prepaid expenses and deferred charges

    end of year $3,487

  • 10a · Land, buildings and equipment: cost or other basis

    $3,464,595

  • 10b · Land, buildings and equipment: accumulated depreciation

    $176,383

  • 10c · Land, buildings and equipment, net

    beginning of year $3,269,403 · end of year $3,288,212

  • 15 · Other assets

    beginning of year $1,260,373 · end of year $1,680,367

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,162 · end of year $30,990

  • 23 · Secured mortgages and notes payable

    beginning of year $3,034,775 · end of year $3,301,557

  • 27 · Net assets without donor restrictions

    beginning of year $2,330,364 · end of year $2,970,065

  • 28 · Net assets with donor restrictions

    beginning of year $390,000 · end of year $277,632

Mission and programs · 2023

Mission

WE DRIVE HOLISTIC FAMILY AND COMMUNITY TRANSFORMATION THROUGH INNOVATIVE PROGRAMS AND REAL ESTATE INVESTMENTS IN THE FREEDOM DRIVE CORRIDOR.

  • FAMILY STABILITY: FREEDOM COMMUNITIES' MOMS MOVING FORWARD PROGRAM (MMF) TAKES A HOLISTIC AND COMMUNITY-BASED APPROACH TO DRIVE UPWARD MOBILITY AND FAMILY STABILITY FOR SINGLE MOTHERS AND THEIR CHILDREN. DURING OUR PAID 12 MONTH PROGRAM, WE WORK SIMULTANEOUSLY WITH EACH PARTICIPANT AND HER CHILD (REN), CONNECTING THEM TO HOLISTIC RESOURCES AS THEY BUILD A NETWORK OF SUPPORT WITH OTHER FAMILIES. AFTER LAUNCHING THE PROGRAM IN JULY OF 2020, WE HAVE SUCCESSFULLY LAUNCHED 10 COHORTS OF THE PROGRAM AND GRADUATED 8, IMPACTING 442 WOMEN AND CHILDREN.

    Expenses $738,622

  • 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 CORRIDOR WAS A "CHILDCARE DESERT" FOR AGES 0-3, WE PARTNERED WITH A LOCAL LEADER AND PRESCHOOL PROVIDER RESPONSIBLE FOR GENERATING THE BEST READERS IN OUR NEIGHBORHOOD SCHOOLS TO EXPAND HER EXISTING CENTER ON-SITE AT OUR TUCK OPPORTUNITY HUB. THE CENTER OPENED IN JANUARY OF 2022 WITH SPACE FOR 77 CHILDREN.

    Expenses $481,355

  • 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 INVEST SIMULTANEOUSLY IN FAMILIES AND IN INFRASTRUCTURE SO THAT AS FAMILIES TRANSFORM, THEIR COMMUNITY DOES TOO. BEYOND MMF, WE CONTINUE TO INVEST IN THE DEVELOPMENT OF THE FREEDOM DRIVE CORRIDOR TO CREATE AN ENVIRONMENT IN WHICH ALL FAMILIES CAN THRIVE. WE HAVE LEVERAGED CROSS-SECTOR PARTNERSHIPS TO CREATE AFFORDABLE RENTAL AND HOMEOWNERSHIP OPPORTUNITIES.

    Expenses $295,071

As filed on the 2023 return.

Listed in Part VII

  • HANNAH BEAVERS

    EXECUTIVE DI

    Total calculated
    $143,306
    From this org
    $143,306
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • DAVID DOCUSEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • MICHELLE HEWETT-WYNN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SUZANNE HUNT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • DOUG IRMSCHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SHAWN KENNEDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • MARK LINSZ

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • BRANDY MILAZZO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • EVELYN MINTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JOHN PARKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • TIM SITTEMA

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10

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.

Grants on this return

No itemized grants to organizations 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • HOSKINS COMMUNITY CENTER LLC

    NC

  • FC MARLBOROUGH WOODS LLC

    NC

Provenance

Return type
form_990
Tax year
2023
Filed
24 June 2024
IRS schema version
2023v5.0
Source object
202442329349301214

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