PHOENIX, AZ
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)NEW FREEDOM PROJECT, founded in 2017, is a small nonprofit in the Human Services sector that reported $362K in total revenue in fiscal year 2024. Revenue fell 90% from the prior year — a significant decline worth monitoring. Expenses of $2.0M exceeded revenue, resulting in a 461% operating deficit.
NEW FREEDOM PROJECT ENGAGES IN CHARITABLE AND EDUCATIONAL ACTIVITIES BY (A) PROVIDING WIDE-RANGING ASSISTANCE TO LOW-INCOME, JUSTICE INVOLVED INDIVIDUALS WHO ARE REENTERING THE COMMUNITY IN THE FORM OF FOOD, CLOTHING, HEALTH CARE, SUPPORTIVE AND HALF-WAY HOUSING, EDUCATION, MENTORING, VOCATIONAL TRAINING, AND JOB PLACEMENT ASSISTANCE; (B) PROVIDING SHORT-TERM FINANCIAL ASSISTANCE TO LOW-INCOME, JUSTICE INVOLVED INDIVIDUALS WHO ARE REENTERING THE COMMUNITY, INCLUDING RENT ASSISTANCE, ASSISTANCE WITH TRANSPORTATION COSTS, AND EDUCATIONAL SCHOLARSHIPS; (C) PROMOTING THE SUCCESSFUL RE-ENTRY OF JUSTICE INVOLVED INDIVIDUALS INTO THE COMMUNITY AND PREVENTING RECIDIVISM. NEW FREEDOM PROJECT'S MISSION IS TO CREATE GENERATIONAL CHANGE AND STRENGTHEN COMMUNITIES BY PROVIDING CRITICAL RESOURCES TO INDIVIDUALS ON THEIR REENTRY JOURNEY. THESE TAX EXEMPT PURPOSES ARE CONSISTENT WITH THE ORGANIZATION'S AMENDED AND RESTATED ARTICLES OF INCORPORATION FILED WITH THE ACC ON JULY 15, 2024. SEE ATTACHED.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $361,674 | $3,719,440 | -0.9% |
| Expenses | $2,028,603 | $1,833,211 | +0.1% |
| Net Income | $-1,666,929 | $1,886,229 | -1.9% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| JOE MCDONALD | PRESIDENT | 5.00 |
Officer
Director
|
$96,154 | $0 | $96,154 |
| SIOBAHN CARRAGHER | VICE PRESIDENT | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MICHAEL KENNETH | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| STACY MISINO | SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| DR DENTON SANTARELLI | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MEGHAN MURPHY | EXECUTIVE DIRECTOR | 40.00 |
Officer
|
$55,249 | $0 | $55,249 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $361,674 | $2,028,603 | $2,818,491 | $-1,666,929 |
| 2023 | $3,719,440 | $1,833,211 | $2,284,990 | $1,886,229 |
| 2022 | $1,705,491 | $1,612,601 | $249,624 | $92,890 |
| 2021 | $1,171,280 | $1,162,258 | $184,294 | $9,022 |
Compare NEW FREEDOM PROJECT with other nonprofits in Arizona and across the country.