FREEDOM SOURCE INC

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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

NICHOLE DAWSEY

Phone

2059728264

Tax Period

2024-10-01 to 2025-09-30

FREEDOM SOURCE INC, founded in 2007, is a community nonprofit in the Mental Health sector that reported $1.5M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $1.9M exceeded revenue, resulting in a 24% operating deficit.

Mission

OUR MISSION IS TO PREVENT SUBSTANCE USE DISORDER THROUGH EDUCATION, RECOVERY SUPPORT, AND COMMUNITY PARTNERSHIPS.

Program Service Accomplishments

Program 1

Expenses: $1,526,540 Revenue: $25,436

PREVENTION & STUDENT PROGRAMS: EDUCATED AND EMPOWERED 8,326 STUDENTS IN CLASSROOMS, K-12. ENGAGED 299 STUDENTS IN 8 INFOCUS AND YOUTH ADVISORY COUNCIL PROGRAMS. ENGAGED SCHOOL ADMINISTRATION AND...

PREVENTION & STUDENT PROGRAMS: EDUCATED AND EMPOWERED 8,326 STUDENTS IN CLASSROOMS, K-12. ENGAGED 299 STUDENTS IN 8 INFOCUS AND YOUTH ADVISORY COUNCIL PROGRAMS. ENGAGED SCHOOL ADMINISTRATION AND PARENTS IN COLLABORATIVE SUBSTANCE USE PREVENTION PROGRAMS.

Program 2

Expenses: $227,084

COMMUNITY AWARENESS/RESOURCES AND MEDIA: ENGAGED COMMUNITY PROVIDERS AND THE COMMUNITY AT LARGE. HOSTED QUARTERLY POP UP RESOURCE FAIRS INCREASED COMMUNITY AWARENESS OF SUBSTANCE USE ISSUES THROUGH MULTIPLE MEDIA CAMPAIGNS, WHICH HAD 2,681,438 DIGITAL IMPRESSIONS STATEWIDE WITH A TOTAL REACH OF 286,028 AND ENGAGEMENT OF 7,283. SERVED 2,891 INDIVIDUALS THROUGH 279 PEER RECOVERY SUPPORT GROUP MEETINGS HELD THROUGHOUT THE YEAR. SERVED 86 FAMILY MEMBERS THROUGH 52 FAMILY SUPPORT GROUP MEETINGS HELD THROUGHOUT THE YEAR. PROVIDED 139 SCHOLARSHIPS TO HELP PEOPLE IN NEED ACCESS LIFE- CHANGING TREATMENT. DISTRIBUTED 360 ONEBOXES, 8,400 FENTANYL TEST STRIPS, 733 NALOXONE KITS, AND 67,021 SAFE MEDICATION DISPOSAL BAGS THROUGHOUT CENTRAL ALABAMA, IN COLLABORATION WITH THE JEFFERSON COUNTY DEPARTMENT OF HEALTH.

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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 $1,491,336

Program Service Revenue $25,436

Investment Income $41,507

Other Revenue $-10,180

TOTAL REVENUE $1,548,099

Expense Breakdown

Grants Paid $155,433

Salaries & Benefits $607,004

Fundraising Expenses $56,333

Program Expenses $1,753,624

Other Expenses $1,107,674

TOTAL EXPENSES $1,926,444

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,548,099	$1,855,229	-0.2%
Expenses	$1,926,444	$1,278,692	+0.5%
Net Income	$-378,345	$576,537	-1.7%

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

Volunteers

225

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

$111,475

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARIE WIMBERLY	EXEC.DIR (OC	40.00	Officer	$83,770	$0	$83,770
NICHOLE DAWSEY	EXEC.DIR (CU	40.00	Officer	$27,530	$175	$27,705
CELESTE BAYLES	DIRECTOR	1.00	Director	$0	$0	$0
AMBER COLE	DIRECTOR	1.00	Director	$0	$0	$0
TYLER CURRIER	BOARD CHAIRP	3.00	Director	$0	$0	$0
DR JOHN DANTZLER	DIRECTOR	1.00	Director	$0	$0	$0
HONORABLE MARIA FORTUNE	DIRECTOR	1.00	Director	$0	$0	$0
DR LIESL HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
SHANE HERRING	DIRECTOR	1.00	Director	$0	$0	$0
DR SHERRI HUFF	DIRECTOR	1.00	Director	$0	$0	$0
DR EMMA KAY	DIRECTOR	1.00	Director	$0	$0	$0
TAYLOR PEAKE	DIRECTOR	1.00	Director	$0	$0	$0
TERRY ROLLER	DIRECTOR	1.00	Director	$0	$0	$0
SAMATA SHAH	DIRECTOR	1.00	Director	$0	$0	$0
STEVE WALKER	DIRECTOR	1.00	Director	$0	$0	$0

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
2025	$1,548,099	$1,926,444	$1,202,044	$-378,345
2024	$1,855,229	$1,278,692	$1,598,155	$576,537
2023	$1,603,332	$1,245,327	$1,005,311	$358,005
2022	$1,289,618	$1,139,160	$535,842	$150,458
2021	$1,116,717	$883,704	$391,588	$233,013
2020	$550,871	$520,784	$137,486	$30,087
2019	$421,199	$514,009	$68,141	$-92,810
2018	$634,649	$537,873	$148,254	$96,776