The Freedom Foundation

EIN: 463280693 501(c)(3) Human Services

Cedar Rapids, IA

Total Revenue
$1,429,425
Total Expenses
$287,551
Total Assets
$2,232,232
Net Assets
$2,232,232
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
IA
Phone
3198262010
Tax Period
2024-01-01 to 2024-12-31

The Freedom Foundation, founded in 2013, is a community nonprofit in the Human Services sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 168% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 80% operating margin.

Mission

The Freedom Foundation serves many needs of active duty, reserve and honorably discharged military veterans. We provide a place for veterans to interact with fellow veterans and share in the camaraderie that they have shared while proudly serving our country. We diligently work within our organization and other organizatins to assist veterans with lodging, food, transportation, financial and physical/mental medical assistance. Our center provides a resource center and guidance to navigate the best path for our individuals' needs. We strive to create close interpersonal relationships and an emotional safety net with all of our veterans.

Program Service Accomplishments

Program 1
Expenses: $128,434

Veterans food pantry and lunch Program: Veterans receive food throughout the year through meals served as well as delivery of food pantry items to individuals that may have medical or mental health...

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Veterans food pantry and lunch Program: Veterans receive food throughout the year through meals served as well as delivery of food pantry items to individuals that may have medical or mental health issues. During 2024, we served 4,053 veteran meals through the veteran's lunch program and 3,610 veterans received goods from the food pantry.

Program 2
Expenses: $125,000

Veterans emergency assistance fund (VEAF) helps veterans when they are a little short financially or with basic items needed (ex. winter coat). We help veterans with their rent, deposits, utilities...

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Veterans emergency assistance fund (VEAF) helps veterans when they are a little short financially or with basic items needed (ex. winter coat). We help veterans with their rent, deposits, utilities and auto repairs/tags/registration. We assisted 84 veterans in emergency financial need.

Program 3
Expenses: $525

Veterans homeless shelter program: Putting veterans in shelters to keep them off the street and get them into permanent housing. In 2024, this program provided housing for 3 veterans.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,425,842
Program Service Revenue $0
Investment Income $2,793
Other Revenue $790
TOTAL REVENUE $1,429,425

Expense Breakdown

Grants Paid $81,539
Salaries & Benefits $94,629
Fundraising Expenses $1,865
Program Expenses $253,959
Other Expenses $111,383
TOTAL EXPENSES $287,551

Year-over-Year Comparison

2024 2023 Change
Revenue $1,429,425 $533,503 +1.7%
Expenses $287,551 $247,909 +0.2%
Net Income $1,141,874 $285,594 +3.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
3
Volunteers
234

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
4
$62,178
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Lexi Coberly Executive Dir. 40.00
Officer
$62,178 $0 $62,178
Brian Eschen President 40.00
Officer
$0 $0 $0
Roger Jensen Vice President 25.00
Officer
$0 $0 $0
Thomas Ward Treasurer 5.00
Officer
$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
2024 $1,429,425 $287,551 $2,232,232 $1,141,874
2023 $533,503 $247,909 $1,088,688 $285,594
2022 $344,359 $191,825 $803,094 $152,534
2021 $644,869 $303,940 $650,560 $340,929
2020 $419,733 $331,294 $309,631 $88,439
2019 $266,849 $222,235 $221,192 $44,614
2018 $257,926 $236,103 $176,578 $21,823
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