Skip to content
Nonprofiteer
← THE FREE STATE FOUNDATION INC

Form 990 for tax year 2022

Filed by THE FREE STATE FOUNDATION INC.

Totals

Total revenue
$1,219,957
Total expenses
$1,191,333
Contributions and grants received
$1,167,105
Grants paid
$0
Program service revenue
$0
Investment income
$52,792
Other revenue
$60
Total assets, end of year
$3,306,788
Total liabilities, end of year
$74,965
Net assets or fund balances, end of year
$3,231,823
Program services expenses (Part IX)
$1,049,878
Management and general expenses
$109,662
Fundraising expenses
$31,793
Program service expenses (Part III)
$1,049,878

Program services were 88.1% 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

    $1,167,105

  • 3 · Investment income

    total $51,857 · excluded $51,857

  • 5 · Royalties

    total $60 · excluded $60

  • 7a · Gross sales of assets other than inventory

    securities $210,525

  • 7b · Less cost or other basis and sales expenses

    securities $209,590

  • 7c · Gain or loss

    securities $935

  • 7d · Net gain or loss

    total $935 · excluded $935

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $474,928 · program services $395,067 · management and general $66,737 · fundraising $13,124

  • 7 · Other salaries and wages

    total $454,371 · program services $448,089 · management and general $3,141 · fundraising $3,141

  • 8 · Pension plan contributions

    total $82,687 · program services $74,391 · management and general $6,845 · fundraising $1,451

  • 9 · Other employee benefits

    total $18,958 · program services $18,127 · management and general $534 · fundraising $297

  • 10 · Payroll taxes

    total $54,287 · program services $49,328 · management and general $4,023 · fundraising $936

  • 11c · Fees: accounting

    total $12,000 · management and general $12,000

  • 13 · Office expenses

    total $1,624 · program services $38 · management and general $1,559 · fundraising $27

  • 14 · Information technology

    total $7,764 · program services $5,225 · management and general $2,539

  • 16 · Occupancy

    total $10,674 · program services $8,326 · management and general $1,815 · fundraising $533

  • 17 · Travel

    total $16,252 · program services $12,429 · management and general $214 · fundraising $3,609

  • 19 · Conferences, conventions and meetings

    total $4,500 · program services $785 · fundraising $3,715

  • 22 · Depreciation, depletion and amortization

    total $1,791 · management and general $1,791

  • 23 · Insurance

    total $2,096 · program services $1,033 · management and general $1,042 · fundraising $21

  • 24a · Other expenses: FSF HOSTED EVENTS

    total $22,602 · program services $21,155 · management and general $549 · fundraising $898

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $14,489 · program services $11,045 · management and general $2,899 · fundraising $545

  • 24c · Other expenses: PAYROLL PREP. AND ENT.

    total $7,341 · program services $1,123 · management and general $2,736 · fundraising $3,482

  • 24d · Other expenses: HONORARIA

    total $3,000 · program services $3,000

  • 24e · All other expenses

    total $1,969 · program services $717 · management and general $1,238 · fundraising $14

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $41,363 · end of year $66,940

  • 2 · Savings and temporary cash investments

    beginning of year $1,078,885 · end of year $1,016,046

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

    $21,398

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

    $17,539

  • 10c · Land, buildings and equipment, net

    beginning of year $5,650 · end of year $3,859

  • 12 · Investments: other securities

    beginning of year $2,541,825 · end of year $2,219,943

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,897 · end of year $74,965

  • 27 · Net assets without donor restrictions

    beginning of year $3,586,826 · end of year $3,231,823

Mission and programs · 2022

Mission

THE FREE STATE FOUNDATION'S PRIMARY PURPOSE IS TO PROMOTE, THROUGH RESEARCH AND EDUCATIONAL ACTIVITIES, THE UNDERSTANDING OF FREE MARKET, LIMITED GOVERNMENT, AND RULE OF LAW PRINCIPLES AT THE FEDERAL LEVEL AND IN MARYLAND. THE FOUNDATION FOCUSES ON EDUCATING POLICYMAKERS, OPINION LEADERS, THE PRESS, AND THE GENERAL PUBLIC CONCERNING THE NEED TO ELIMINATE UNNECESSARY AND COUNTERPRODUCTIVE REGULATORY MANDATES, ESPECIALLY THOSE APPLICABLE TO THE COMMUNICATIONS AND OTHER HIGH-TECH INDUSTRIES, AND ON REDUCING OVERLY BURDENSOME TAXES, PROTECTING INDIVIDUAL RIGHTS, ECONOMIC LIBERTY, AND PROPERTY RIGHTS, AND MAKING GOVERNMENT MORE EFFECTIVE, EFFICIENT, AND ACCOUNTABLE.

Activities or mission (Part I)

THE FOUNDATION'S PRIMARY PURPOSE IS TO PROMOTE, THROUGH RESEARCH AND EDUCATIONAL ACTIVITIES,UNDERSTANDING OF FREE MARKET, LIMITED GOVERNMENT, AND RULE OF LAW PRINCIPLES AT THE FEDERAL LEVEL AND IN MARYLAND. THE FOUNDATION FOCUSES ON EDUCATING POLICYMAKERS, OPINION LEADERS, THE PRESS, AND GENERAL PUBLIC CONCERNING THE NEED TO ELIMINATE UNNECESSARY AND COUNTERPRODUCTIVE REGULATORY MANDATES, ESPECIALLY THOSE APPLICABLE TO THE COMMUNICATIONS AND OTHER HIGH-TECH INDUSTRIES, AND ON REDUCING OVERLY BURDENSOME TAXES, PROTECTING INDIVIDUAL RIGHTS, ECONOMIC LIBERTY, AND PROPERTY RIGHTS, AND MAKING GOVERNMENT MORE EFFECTIVE, EFFICIENT, AND ACCOUNTABLE.

  • COMMUNICATIONS LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT, THE FOUNDATION'S LARGEST, IS TO REFORM COMMUNICATIONS AND INTERNET LAW AND POLICY TO CONFORM TO THE DYNAMIC TECHNOLOGICAL AND COMPETITIVE MARKETPLACE REALITIES OF THE DIGITAL AGE. DURING 2022, THE FOUNDATION PUBLISHED 64 ARTICLES AND SCHOLARLY STUDIES AS PART OF ITS "PERSPECTIVES FROM FSF SCHOLARS" SERIES. IT PUBLISHED 173 SEPARATE BLOGS. FOUNDATION SCHOLARS WERE PUBLISHED AND QUOTED OFTEN IN MAJOR NATIONAL PUBLICATIONS AND TWO OR THREE TIMES WEEKLY IN LEADING TRADE PRESS PUBLICATIONS. FSF ALSO FILED 10 SETS OF SUBSTANTIVE PUBLIC COMMENTS IN AGENCY RULEMAKING AND POLICY PROCEEDINGS, INCLUDING AT THE FEDERAL COMMUNICATIONS COMMISSION, FEDERAL TRADE COMMISSION, AND THE NATIONAL TELECOMMUNICATIONS AND INFORMATION ADMINISTRATION. ON MAY 6, 2022, FSF HELD ITS FOURTEENTH ANNUAL TELECOM POLICY CONFERENCE, ITS FIRST IN-PERSON POLICY CONFERENCE POST-PANDEMIC. THE CONFERENCE ATTRACTED OVER 120 ATTENDEES AND A DIVERSE GROUP OF DISTINGUISHED SPEAKERS FROM ACADEMIA, SENIOR GOVERNMENT OFFICIALS, INLCUDING FCC, FTC, AND NTIA LEADERS, PUBLIC INTEREST ORGANIZATIONS, AND INDUSTRY. IN JULY 2022, FSF HOSTED A WEBINAR VIA ZOOM ON "HOT TOPICS" IN COPYRIGHT LAW. ALL OF THESE FREE STATE FOUNDATION EVENTS WERE OPEN TO THE PUBLIC, WIDELY COVERED IN THE PRESS, AND VIDEOS OF THE PROCEEDINGS WERE MADE AVAILABLE TO THE PUBLIC.

    Expenses $1,032,139

  • MARYLAND GOVERNMENT LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT IS TO CONDUCT RESEARCH AND EDUCATIONAL ACTIVITIES THAT PROMOTE POLICIES FOR MARYLAND THAT ARE CONSISTENT WITH FISCAL DISCIPLINE AND WITH A FREE MARKET, LESS REGULATORY DIRECTION. DURING 2022, FSF ALSO PUBLISHED ARTICLES AND COMMENTARIES RELATING TO IMPROVING MARYLAND'S FISCAL, ECONOMIC, AND REGULATORY POLICIES, INCLUDING ITS TECHNOLOGY POLICIES, AND TO REFORMING ITS BUDGET PROCESSES. FREE STATE FOUNDATION SCHOLARS MAINTAIN A BLOG TO INCLUDE COMMENTS ON MARYLAND FISCAL, ECONOMIC, AND REGULATORY ISSUES. DURING 2022, 9 SEPARATE "PERSPECTIVES FROM FSF SCHOLARS AND BLOGS WERE PUBLISHED REGARDING VARIOUS MARYLAND POLICY ISSUES, INCLUDING THE BUDGET, TAXES, REGULATORY REFORM, AND STATE E-BOOK LICENSING LEGISLATION.

    Expenses $17,739

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Randolph J May

    PRESIDENT

    Total calculated
    $400,348
    From this org
    $362,694
    From related orgs
    $0
    Other
    $37,654
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $335,194
    Bonus
    $27,500
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $7,154
    Filer's total
    $400,348

  • Laurie J May

    SECRETARY/TREASURER

    Total calculated
    $124,013
    From this org
    $112,234
    From related orgs
    $0
    Other
    $11,779
    Hours/week
    24

  • Thomas Tauke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William K Keane

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Howard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrew Long

    SENIOR FELLOW

    Total calculated
    $165,828
    From this org
    $146,778
    From related orgs
    $0
    Other
    $19,050
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $141,278
    Bonus
    $5,500
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $4,200
    Filer's total
    $165,828

  • Seth Cooper

    DIRECTOR OF POLICY STUDIES

    Total calculated
    $240,045
    From this org
    $211,950
    From related orgs
    $0
    Other
    $28,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,000
    Bonus
    $9,950
    Other
    $0
    Deferred
    $21,095
    Nontaxable benefits
    $7,000
    Filer's total
    $240,045

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

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202342939349300204

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.