FREE SPIRIT MEDIA NFP

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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

2001

Legal Domicile

Principal Officer

Aurora Toshiko King

Phone

3124440562

Tax Period

2024-07-01 to 2025-06-30

FREE SPIRIT MEDIA NFP, founded in 2001, is a community nonprofit in the Youth Development sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $283K, a strong 21% operating margin.

Mission

Free Spirit Medias mission is to partner with young storytellers to transform media and society. Free Spirit Media partners with young storytellers, ages 11-25 and primarily from the west and south sides of Chicago, to develop and amplifytheir unique and critical voices through storytelling and media arts. We do this through our holistic creative youth development programming which focuses on community-building, skill-sharing and career and education pathways that support young people to envision and build their futures as artists and within the media industry and beyond.

Program Service Accomplishments

Program 1

Expenses: $448,278

Creative Pathways is a creative workforce program that offers 16-25 year olds an interrelated suite of film industry opportunities including communities of practice for aspiring filmmakers, advanced media arts programming, paid internship opportunities, paid opportunities to gain experience in all aspects of filmmaking through a creation of a young artist directed and produced film-project and an advanced production cohort that provides content for clients.

Program 2

Expenses: $150,365

Production - A 12-week intensive training program for emerging media makers (usually ages 1825) that combines hands-on industry training with experience on real productions. Participants receive...

Production - A 12-week intensive training program for emerging media makers (usually ages 1825) that combines hands-on industry training with experience on real productions. Participants receive instruction from professionals, learn technical and production skills (camera, grip, editing, etc.), and work toward producing a short film project with mentorship from industry veterans.

Program 3

Expenses: $137,995

Teen Media - Young artists, age 11 to 18, participate in a wide range of media arts programs, both in an arts center and school-based environment. Skilled teaching artists mentor young storytellers in the art of filmmaking, photography, sound and music production, screenwriting and other modalities connected to media arts. Young artists learn the components of visual storytelling and develop core proficiencies in scriptwriting, editing, photography, camerawork, audio engineering, and performance. Young creators hone their media literacy, including awareness of media influence, and their own roles as both media creators and media consumers. Teen programs run year-round, with sessions in the Fall, Spring and Summer.

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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 $1,205,602

Program Service Revenue $0

Investment Income $160,066

Other Revenue $1,666

TOTAL REVENUE $1,367,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $606,897

Fundraising Expenses $95,700

Program Expenses $844,034

Other Expenses $477,459

TOTAL EXPENSES $1,084,356

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,367,334	$964,227	+0.4%
Expenses	$1,084,356	$945,017	+0.1%
Net Income	$282,978	$19,210	+13.7%

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

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

$115,125

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Aurora Toshiko King	Executive Dir.	40.00	Officer	$115,125	$0	$115,125
Katie Green	Chair	1.00	Officer Director	$0	$0	$0
Keith Jamerson	Vice Chair	1.00	Officer Director	$0	$0	$0
Meg Hayes	Treasurer	1.00	Officer Director	$0	$0	$0
Eric Schnabel	Secretary	1.00	Officer 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	$1,367,334	$1,084,356	$1,107,709	$282,978
2024	$964,227	$945,017	$797,994	$19,210
2023	$949,950	$864,476	$849,083	$85,474
2022	$1,113,453	$1,302,293	$719,124	$-188,840
2021	$1,305,791	$1,975,770	$1,327,673	$-669,979
2020	$2,087,879	$2,073,507	$1,939,200	$14,372
2019	$2,253,517	$2,149,278	$1,664,708	$104,239