JOSHUA M FREEMAN FOUNDATION (EIN 208592383) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

MICHELLE FREEMAN

Phone

3024363015

Tax Period

2024-01-01 to 2024-12-31

JOSHUA M FREEMAN FOUNDATION, founded in 2007, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $15.3M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $14.3M left a modest 6% surplus.

Mission

ADVANCING ARTS ACCESS FOR ALL THROUGH PERFORMANCE, EDUCATION AND ADVOCACY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,971,770

Program Service Revenue $6,512,808

Investment Income $352,740

Other Revenue $1,476,578

TOTAL REVENUE $15,313,896

Expense Breakdown

Grants Paid $4,489,238

Salaries & Benefits $2,934,638

Fundraising Expenses $444,586

Program Expenses $13,135,697

Other Expenses $6,923,010

TOTAL EXPENSES $14,346,886

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,313,896	$13,002,353	+0.2%
Expenses	$14,346,886	$11,911,753	+0.2%
Net Income	$967,010	$1,090,600	-0.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

123

Volunteers

284

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$305,964

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE FREEMAN	CHAIR/PRESIDENT	10.00	Officer Director	$0	$0	$0
CHRISTINE SHREVE	VICE PRESIDENT/DIRECTOR	2.00	Officer Director	$0	$0	$0
GINGER WARD	TREASURER/DIRECTOR	1.00	Officer Director	$0	$0	$0
TODD FLUBACHER	SECRETARY/DIRECTOR	1.00	Officer Director	$0	$0	$0
SARA CHASE CARLSON	DIRECTOR (UNTIL MAY 2024)	1.00	Director	$0	$0	$0
L DREXEL DAVISON	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS DIAZ	DIRECTOR	1.00	Director	$0	$0	$0
SHANTE HASTINGS	DIRECTOR	1.00	Director	$0	$0	$0
DEBRA KILLEEN	DIRECTOR (UNTIL DEC. 2024)	1.00	Director	$0	$0	$0
PATRICIA KIM	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY SMITH	DIRECTOR (UNTIL SEPT. 2024)	1.00	Director	$0	$0	$0
JOHN TIBERI	DIRECTOR	1.00	Director	$0	$0	$0
JEFF TRIBBLE JR	DIRECTOR	1.00	Director	$0	$0	$0
ELI MODLIN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WIGLEY	DIRECTOR	1.00	Director	$0	$0	$0
PATTI GRIMES	EXECUTIVE DIRECTOR	30.00	Officer	$284,893	$21,071	$305,964
MELISSA DONNELLY	DIRECTOR OF FINANCE	40.00	Highest	$128,298	$20,023	$148,321
DARREN SILVIS	DIRECTOR OF DEVELOPMENT	40.00	Highest	$107,312	$12,929	$120,241
KATIE RAYMON	DEPUTY DIRECTOR	40.00	Highest	$137,224	$12,890	$150,114
MOLLY WILLIAMS	DIRECTOR OF PROGRAMMING	40.00	Highest	$103,258	$13,515	$116,773

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$15,313,896	$14,346,886	$9,469,872	$967,010
2023	$13,002,353	$11,911,753	$8,764,830	$1,090,600
2022	$13,377,561	$12,037,421	$8,014,921	$1,340,140
2021	$10,885,831	$8,007,561	$7,026,329	$2,878,270
2020	$1,980,353	$1,874,958	$3,985,326	$105,395
2019	$6,532,462	$6,413,707	$3,852,305	$118,755
2018	$7,867,485	$9,903,026	$2,681,666	$-2,035,541

JOSHUA M FREEMAN FOUNDATION