FREEDOM LAKE INC (EIN 812739074) - 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

2016

Legal Domicile

Principal Officer

Diane Cornwell

Phone

5029312965

Tax Period

2024-01-01 to 2024-12-31

FREEDOM LAKE INC, founded in 2016, is a small nonprofit in the Human Services sector that reported $442K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $681K exceeded revenue, resulting in a 54% operating deficit.

Mission

Freedom Lake exists to help men be freed from old habits or destructive patterns of addiction and the revolving door of the prison system teaching them to become Jesus' disicples who multiply the Kingdom of God.

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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 $418,415

Program Service Revenue $12,246

Investment Income $9,107

Other Revenue $1,915

TOTAL REVENUE $441,683

Expense Breakdown

Grants Paid $0

Salaries & Benefits $173,856

Fundraising Expenses $101,974

Program Expenses $532,112

Other Expenses $507,428

TOTAL EXPENSES $681,284

Year-over-Year Comparison

	2024	2023	Change
Revenue	$441,683	$575,894	-0.2%
Expenses	$681,284	$614,824	+0.1%
Net Income	$-239,601	$-38,930	+5.2%

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

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

$140,100

Total Directors

$80,100

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mr Anthony Cash	Board Chair and President	60	Officer Director	$80,100	$0	$80,100
Ms Kim Cash	Chief Operating Officer	60	Officer	$60,000	$0	$60,000
Ms Diane Cornwell	Treasurer	4	Officer Director	$0	$0	$0
Andrew Hanlein	Board Member	0.25	Director	$0	$0	$0
Scott Hill	Board Member	0.25	Director	$0	$0	$0
Bryan Glover	Board Member, VP and Secretary	0.5	Officer Director	$0	$0	$0
Mr Chris Redman	Board Member	0.1	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
2024	$441,683	$681,284	$3,136,025	$-239,601
2023	$575,894	$614,824	$2,735,089	$-38,930
2022	$636,028	$292,089	$620,557	$343,939
2021	$290,017	$136,646	$277,544	$153,371

FREEDOM LAKE INC