FREEDOMWORKS FOUNDATION INC

EIN: 521526916 501(c)(3)

WASHINGTON, DC

Total Revenue
$4,607,322
Total Expenses
$4,556,267
Total Assets
$1,836,076
Net Assets
$1,370,830
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
DC
Principal Officer
ADAM BRANDON
Phone
2027833870
Tax Period
2023-01-01 to 2023-12-31

FREEDOMWORKS FOUNDATION INC, founded in 1989, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF FREEDOMWORKS FOUNDATION IS TO EDUCATE AND EMPOWER AMERICANS WITH THE PRINCIPLES OF INDIVIDUAL LIBERTY, SMALL GOVERNMENT, AND FREE MARKETS. EDUCATION IS THE ANIMATING FORCE THAT INFORMS THE DAILY ACTIVITIES AT FREEDOMWORKS FOUNDATION. THE ORGANIZATION WAS FOUNDED IN 1984 ON THE CAMPUS OF GEORGE MASON UNIVERSITY-A CENTER FOR AMERICAN FREE-MARKET ECONOMIC THOUGHT. SINCE THOSE EARLY DAYS, WE HAVE CONTINUED TO PURSUE A GOAL OF PRESERVING LIBERTY BY EDUCATION AMERICANS ABOUT FREE-MARKETS, LIMITED GOVERNMENT, AND INDIVIDUAL LIBERTY.

Program Service Accomplishments

Program 1
Expenses: $4,076,354

CENTER FOR ECONOMIC FREEDOM: THE FOUNDATION WORKS TO CONSTANTLY ENGAGE ACTIVISTS ACROSS THE COUNTRY IN ORDER TO IMPLEMENT ITS PROGRAMS. ADDITIONALLY, EDUCATION AND RESEARCH PROGRAMS ARE CONDUCTED TO...

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CENTER FOR ECONOMIC FREEDOM: THE FOUNDATION WORKS TO CONSTANTLY ENGAGE ACTIVISTS ACROSS THE COUNTRY IN ORDER TO IMPLEMENT ITS PROGRAMS. ADDITIONALLY, EDUCATION AND RESEARCH PROGRAMS ARE CONDUCTED TO SUPPORT THE COMMUNITY TO FURTHER ITS FREE MARKET AND LIMITED GOVERNMENT ACTIVITIES. STRATEGY INCLUDES STRATEGIC MANAGEMENT AND DISCUSSION ABOUT FOUNDATION DEVELOPMENT AND CREATION OF FUTURE PROGRAMS. IN ORDER TO ENSURE THAT THE FOUNDATION IS BEING RESPONSIVE TO ITS COMMUNITY AND KEY STAKEHOLDERS, THE FOUNDATION WILL CONTINUALLY EVALUATE PROGRAMS.

Program 2
Expenses: $85,818

REGULATORY ACTION: THE FOUNDATION MOBILIZES THE COMMUNITY TO IMPLEMENT THE REGULATORY ACTION PROGRAM. THE FOUNDATION USES CUTTING EDGE TECHNOLOGY TO ENGAGE ITS COMMUNITY TO TAKE PART IN THE...

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REGULATORY ACTION: THE FOUNDATION MOBILIZES THE COMMUNITY TO IMPLEMENT THE REGULATORY ACTION PROGRAM. THE FOUNDATION USES CUTTING EDGE TECHNOLOGY TO ENGAGE ITS COMMUNITY TO TAKE PART IN THE REGULATORY PROCESS. ADDITIONALLY, TRAINING AND SUPPORT ARE PROVIDED TO THE ACTIVIST COMMUNITY TO FURTHER THE FOUNDATION'S REGULATORY ENGAGEMENT.

Program 3
Expenses: $128,727

FREEDOMWORKS FOUNDATION'S BUILDING EDUCATION FOR STUDENTS TOGETHER (BEST) PROGRAM WORKS TO EDUCATE AND MOBILIZE ACTIVISTS TO BECOME INVOLVED IN THE EDUCATION OF THEIR CHILDREN AND THE BROADER...

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FREEDOMWORKS FOUNDATION'S BUILDING EDUCATION FOR STUDENTS TOGETHER (BEST) PROGRAM WORKS TO EDUCATE AND MOBILIZE ACTIVISTS TO BECOME INVOLVED IN THE EDUCATION OF THEIR CHILDREN AND THE BROADER COMMUNITY. RESEARCH IS CONDUCTED ON EDUCATION POLICY ACROSS THE UNITED STATES. ACTIVISTS LEARN ABOUT THE DIFFERENT ROLES OF SCHOOL BOARDS, SUPERINTENDENTS, TEACHERS, AND PARENTS WITHIN THE EDUCATION SYSTEM.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,603,649
Program Service Revenue $0
Investment Income $3,673
Other Revenue $0
TOTAL REVENUE $4,607,322

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,481,981
Fundraising Expenses $92,137
Program Expenses $4,290,899
Other Expenses $2,074,286
TOTAL EXPENSES $4,556,267

Year-over-Year Comparison

2023 2022 Change
Revenue $4,607,322 $7,186,346 -0.4%
Expenses $4,556,267 $8,423,843 -0.5%
Net Income $51,055 $-1,237,497 -1.0%
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
9
Independent Members
8
Employees
N/A
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
5
$761,451
Total Directors
9
$400,601
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL BECKNER BOARD CHAIR 1.00
Officer Director
$0 $0 $0
BETSY ALBAUGH BOARD MEMBER 1.00
Director
$0 $0 $0
TED ABRAM BOARD MEMBER 1.00
Director
$0 $0 $0
JOAN CARTER BOARD MEMBER 1.00
Director
$0 $0 $0
MARILYN HAYDEN BOARD MEMBER 1.00
Director
$0 $0 $0
ROB LANSING BOARD MEMBER 1.00
Director
$0 $0 $0
NICOLA OPDYCKE BOARD MEMBER 1.00
Director
$0 $0 $0
ADAM BRANDON PRESIDENT 26.00
Officer Director
$229,362 $47,736 $400,601
PARISSA SEDGHI FORNWALT SECRETARY 1.00
Officer Director
$0 $0 $0
NOAH WALL EXEC. VICE PRESIDENT (UNTIL 3/7/23) 26.00
Officer
$86,999 $11,160 $145,005
MARGARET IUCULANO EXEC. VICE PRESIDENT (3-8/2023) 26.00
Officer
$128,749 $17,769 $215,845
JOHN TAMNY DIR. CENTER FOR ECONOMIC FREEDOM 36.00
Highest
$147,771 $55,205 $219,395
PHILLIP BELL DIR. OF EXTERNAL RELATIONS 26.00
Highest
$108,885 $14,687 $165,916
MATTHEW CARNOVALE VP OF DEVELOPMENT 26.00
Highest
$90,874 $8,750 $148,556
LAURA ZORC VP OF PROG. & E.D. OF B.E.S.T. 26.00
Highest
$67,754 $36,979 $141,216
JONATHAN EBERLE DIRECTOR OF COMMUNICATIONS 26.00
Highest
$65,462 $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
2024 No data No data No data No data
2023 $4,607,322 $4,556,267 $1,836,076 $51,055
2022 $7,186,346 $8,423,843 $1,663,129 $-1,237,497
2022 $7,186,346 $8,423,843 $1,663,129 $-1,237,497
2021 $7,527,754 $8,604,982 $3,288,674 $-1,077,228
2020 $8,379,908 $6,805,394 $3,901,615 $1,574,514
2019 $5,761,882 $4,755,662 $2,953,833 $1,006,220
2018 $7,185,920 $4,973,527 $1,346,822 $2,212,393
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