FREEDOM MINISTRIES INC (EIN 720991267) - 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

1986

Legal Domicile

Principal Officer

DEBORAH A HOGAN

Phone

9562320125

Tax Period

2024-01-01 to 2024-12-31

FREEDOM MINISTRIES INC, founded in 1986, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 44% operating deficit.

Mission

MISSIONARY WORK IN MEXICO AND CENTRAL AMERICA.

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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 $1,357,807

Program Service Revenue $0

Investment Income $85,921

Other Revenue $0

TOTAL REVENUE $1,443,728

Expense Breakdown

Grants Paid $439,651

Salaries & Benefits $723,655

Fundraising Expenses $0

Program Expenses $2,020,900

Other Expenses $914,744

TOTAL EXPENSES $2,078,050

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,443,728	$1,906,546	-0.2%
Expenses	$2,078,050	$1,902,902	+0.1%
Net Income	$-634,322	$3,644	-175.1%

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

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

$723,654

Total Directors

$723,654

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID HOGAN	PRESIDENT	40.00	Officer Director	$575,511	$0	$575,511
DEBORAH A HOGAN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
CORBAN HOGAN	TREASURER	40.00	Officer Director	$51,191	$0	$51,191
JOSEPH HOGAN	SECRETARY	40.00	Officer Director	$96,952	$0	$96,952

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	$1,443,728	$2,078,050	$3,729,970	$-634,322
2023	$1,906,546	$1,902,902	$4,329,953	$3,644
2022	$2,633,988	$1,786,782	$4,289,706	$847,206
2021	$2,584,074	$1,654,996	$3,484,342	$929,078
2020	$1,478,899	$1,212,548	$2,549,082	$266,351
2019	$1,883,119	$1,272,150	$2,269,238	$610,969
2018	$1,410,087	$1,263,556	$1,633,608	$146,531

FREEDOM MINISTRIES INC