FREEDOMWORKS INC (EIN 521349353) - Form 990 Financial Analysis & Trantor Score

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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

1984

Legal Domicile

Principal Officer

ADAM BRANDON

Phone

2027833870

Tax Period

2023-01-01 to 2023-12-31

FREEDOMWORKS INC, founded in 1984, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $4.0M exceeded revenue, resulting in a 39% operating deficit.

Mission

SERVICE CENTER FOR THE GRASSROOTS FREEDOM MOVEMENT ACROSS THE WHOLE COUNTRY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,872,290

Program Service Revenue $0

Investment Income $23,176

Other Revenue $0

TOTAL REVENUE $2,895,466

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,378,866

Fundraising Expenses $230,487

Program Expenses $3,137,105

Other Expenses $2,593,003

TOTAL EXPENSES $4,015,051

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,895,466	$5,081,113	-0.4%
Expenses	$4,015,051	$6,388,308	-0.4%
Net Income	$-1,119,585	$-1,307,195	-0.1%

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

5000

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

$761,451

Total Directors

$400,601

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOAN CARTER	CHAIR	1.00	Officer Director	$0	$0	$0
RICHARD J STEPHENSON	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL BECKNER	BOARD MEMBER	1.00	Director	$0	$0	$0
CARL THOMAS KNUDSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN MODZELEWSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
PETER COPSES	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK TSAMOUTALES	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAM BRANDON	PRESIDENT	14.00	Officer Director	$123,503	$47,736	$400,601
PARISSA SEDGHI FORNWALT	SECRETARY	1.00	Officer Director	$0	$0	$0
NOAH WALL	EXEC. VICE PRESIDENT (UNTIL 3/7/23)	14.00	Officer	$46,846	$11,160	$145,005
MARGARET IUCULANO	EXEC. VICE PRESIDENT (3-8/2023)	14.00	Officer	$69,327	$17,769	$215,845
JOHN TAMNY	DIR. CENTER FOR ECONOMIC FREEDOM	4.00	Highest	$16,419	$55,205	$219,395
PHILLIP BELL	DIR. OF EXTERNAL RELATIONS	14.00	Highest	$42,344	$14,687	$165,916
MATTHEW CARNOVALE	VP OF DEVELOPMENT	14.00	Highest	$48,932	$8,750	$148,556
LAURA ZORC	VP OF PROG. & E.D. OF B.E.S.T.	14.00	Highest	$36,483	$36,979	$141,216
JONATHAN EBERLE	DIRECTOR OF COMMUNICATIONS	14.00	Highest	$35,249	$12,309	$113,020

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
2023	$2,895,466	$4,015,051	$9,771,365	$-1,119,585
2022	$5,081,113	$6,388,308	$11,646,154	$-1,307,195
2022	$5,081,113	$6,388,308	$11,646,154	$-1,307,195
2021	$5,609,429	$7,711,934	$3,468,084	$-2,102,505
2020	$6,828,782	$6,144,356	$3,631,764	$684,426
2019	$10,404,099	$8,654,078	$3,993,762	$1,750,021
2018	$4,325,113	$3,702,741	$2,001,011	$622,372

FREEDOMWORKS INC