Freedom Life Ministries

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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

2012

Legal Domicile

Phone

8285592224

Tax Period

2024-01-01 to 2024-12-31

Freedom Life Ministries, founded in 2012, is a community nonprofit in the Crime & Legal sector that reported $1.4M in total revenue in fiscal year 2024. Expenses of $1.2M left a modest 14% surplus.

Mission

We help justice involved individuals and their families break the cycle of incarceration by partnering with the community to provide spiritual support and need based services. People impacted by incaration live in hope and lasting freedom

Program Service Accomplishments

Program 1

Expenses: $1,030,982

We serve the needs of 324 justice involved men and women within the McDowell Community, 133 in Avery County, and 49 in Yancey County. - Total served within the McDowell County Jail: - 2024 Jail...

We serve the needs of 324 justice involved men and women within the McDowell Community, 133 in Avery County, and 49 in Yancey County. - Total served within the McDowell County Jail: - 2024 Jail Concerts/Gift Bags: 450 - 2024 Jail Applications Processed: 183 - 2024 Jail Support Group Numbers: 144 Support Group Meetings - 2024 Jail Mentoring Hours: 120 - Total served within the Marion Correctional Institution prison: - 2024 MCI Christmas Project: 600 inmates and 140 staff served - Served through prison chaplaincy: 100 inmates served

Program 2

Over 3,208 services were provided to the 324 justice involved men and women served in 2024-25. These services ranged from services such as food, clothing, hygiene, required legal documentation such as S.S. Card and Driver's License, transitional housing, rent support, housing deposits, transportation, and support groups, to services such as pastoral counseling, meds and medical health assistance, mental health assistance, substance use disorder support, connecting individuals to treatment, rehab, probation assistance, DSS Child Services, McDowell Tech classes, job training, NC Works classes, etc.

Program 3

- 44,000 miles of transportation for Freedom Life clients were provided. - We continued to operate men's and women's transition housing where we provided beds to 54 men and women. - Facilitated over 150 men's and women's support groups. - Supported 4 staff in pursuing CADC credentialing. - Provided Freedom Life office space, rent free, for other mental health and substance use disorder agencies to use. - Served the needs of 100 Social Security clients on disability through Blue Ridge Community Care services, a subsidiary of Freedom Life.

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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 $1,361,595

Program Service Revenue $0

Investment Income $10,773

Other Revenue $5,928

TOTAL REVENUE $1,378,296

Expense Breakdown

Grants Paid $166,628

Salaries & Benefits $713,299

Fundraising Expenses $34,441

Program Expenses $1,030,982

Other Expenses $311,535

TOTAL EXPENSES $1,191,462

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,378,296	$1,406,362	0.0%
Expenses	$1,191,462	$1,089,769	+0.1%
Net Income	$186,834	$316,593	-0.4%

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

N/A

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Danny Hampton	Executive Director	40.00		$51,714	$0	$51,714
Doug Beane-Hall	Chairman	4.00	Officer Director	$0	$0	$0
Joseph Bo McMinn	Secretary	2.00	Officer Director	$0	$0	$0
Art Reagle	Treasurer	1.00	Director	$0	$0	$0
Wendy Gibson	Director	1.00	Director	$0	$0	$0
Robert McNeely	Director	1.00	Director	$0	$0	$0
Michael McEnery	Vice President	1.00	Officer Director	$0	$0	$0
Roberta Long	Director	1.00	Director	$0	$0	$0
Laura Powell	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	No data	No data	No data	No data
2024	$1,378,296	$1,191,462	$1,550,232	$186,834
2024	No data	No data	No data	No data
2023	$1,406,362	$1,089,769	$1,777,240	$316,593
2022	$719,338	$1,051,078	$1,464,791	$-331,740
2021	$1,945,477	$816,467	$1,769,942	$1,129,010
2020	$991,512	$602,736	$656,327	$388,776
2019	$618,826	$520,679	$203,843	$98,147