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FREE ENTERPRISE FOUNDATION INC

EIN 36-4439179 MOLINE, IL

Browse the largest nonprofits in Illinois

Revenue 2023
$187,175
Expenses 2023
$331,439

Program services were 98.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
03
NTEE code
O115
Classification
1000
Street
800 12TH AVE

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2023

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE JUNIOR ACHIEVEMENT OF THE HEARTLAND, INC. ENDOWMENT GIVING OPPORTUNITIES THAT WILL ADD STABILITY AND LONG-RANGE GROWTH.

  • THE ORGANIZATION PROVIDED GRANTS TO JUNIOR ACHIEVEMENT OF THE HEARTLAND, INC. TO SUPPORT OPERATIONS AND PROGRAMS TO EDUCATE AND INSPIRE CHILDREN TO VALUE FREE ENTERPRISE, BUSINESS AND ENCONOMICS TO IMPROVE THE QUALITY OF THEIR LIVES.

    Expenses $327,359 · Grants $322,581

As filed on the 2023 return.

Officers and directors · 2023

As listed in Part VII of the 2023 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • Jim Watson

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Dougal Nelson

    SECETARY

    Total calculated
    $142,723
    From this org
    $0
    From related orgs
    $137,723
    Other
    $5,000
    Hours/week
    1

  • Sheila Volrath

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tom Victor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lance Heuer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Weber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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. Earlier years are each on their own filing page.

Filings

  • 2023
    Revenue
    $187,175
    Expenses
    $331,439
    Contributions
    $69,371
    Grants paid
    $322,581
  • 2022
    Revenue
    $429,221
    Expenses
    $122,599
    Contributions
    $306,015
    Grants paid
    $109,964

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $356,105
    Expenses
    $567,432
    Assets (EOY)
    $3,473,914

  • 2020 · 990

    Revenue
    $479,983
    Expenses
    $141,801
    Assets (EOY)
    $4,192,178

  • 2019 · 990

    Revenue
    $754,202
    Expenses
    $62,630
    Assets (EOY)
    $3,265,914

  • 2018 · 990

    Revenue
    $1,074,345
    Expenses
    $255,649
    Assets (EOY)
    $2,595,128

  • 2017 · 990

    Revenue
    $798,080
    Expenses
    $39,214
    Assets (EOY)
    $1,767,179

  • 2016 · 990

    Revenue
    $85,782
    Expenses
    $98,798
    Assets (EOY)
    $988,926

  • 2015 · 990

    Revenue
    $45,873
    Expenses
    $46,264
    Assets (EOY)
    $927,236

  • 2014 · 990

    Revenue
    $36,387
    Expenses
    $46,155
    Assets (EOY)
    $924,176

  • 2013 · 990

    Revenue
    $37,733
    Expenses
    $25,927
    Assets (EOY)
    $880,431

  • 2012 · 990

    Revenue
    not reported
    Expenses
    $17,663
    Assets (EOY)
    $771,002

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

Where these grants went next →

Grants received

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Declared on its 2023 return

Declared as related by

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Listed as of 13 October 2026, under deductibility SOUNK.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 1 November 2026, for every organization at once. Returns through tax year 2023, the newest we have parsed for this organization.