FREEDOM FIRST ENTERPRISES

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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

2017

Legal Domicile

Principal Officer

DAVE PROSSER

Phone

5403757781

Tax Period

2023-01-01 to 2023-12-31

FREEDOM FIRST ENTERPRISES, founded in 2017, is a micro nonprofit in the Human Services sector that reported $73K in total revenue in fiscal year 2023. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $364K exceeded revenue, resulting in a 398% operating deficit.

Mission

TO ASSIST LOW AND VERY LOW INCOME CONSUMERS WITH ALTERNATIVE FINANCIAL SERVICES.

Program Service Accomplishments

Program 1

Expenses: $23,376

THE HELPING HANDS FUND IS FOR CURRENT FREEDOM FIRST CREDIT UNION EMPLOYEES WHO ARE EXPERIENCING TEMPORARY FINANCIAL HARDSHIP DUE TO EMERGENCY SITUATIONS BEYOND THEIR CONTROL. THIS EMERGENCY SITUATION CAN BE EXTENDED TO IMMEDIATE HOUSEHOLD FAMILY MEMBERS WHOSE HARDSHIP DIRECTLY IMPACTS THE EMPLOYEE. A TEMPORARY FINANCIAL HARDSHIP IS ONE CAUSED BY A DEFINED, TIME-LIMITED, SPECIFIC EVENT SUCH AS FIRE, NATURAL DISASTER (FLOOD, TORNADO, ETC.), THEFT OF PROPERTY, DEATH IN IMMEDIATE FAMILY, ACCIDENT, LOSS OF PROPERTY, DISEASE, EXTENDED ILLNESS OR DISABILITY. "TEMPORARY" MEANS THAT THE EMPLOYEE WAS ABLE TO MANAGE THEIR FINANCES BEFORE BUT ARE NOW SEVERAL HUNDRED DOLLARS IN DEBT AND, WITH THESE FUNDS, COULD REGAIN THEIR FINANCIAL STABILITY WITHIN A COUPLE OF MONTHS.

Program 2

Expenses: $44,500

TO PROVIDE FUNDING TO FREEDOM FIRST CREDIT UNION (FFCU) FOR CONTRIBUTIONS TO EIGHT NON-PROFIT ORGANIZATIONS IN FFCU'S SERVICE AREA THAT PROMOTE COMMUNITY AND HOUSEHOLD ECONOMY SUCH AS POVERTY...

TO PROVIDE FUNDING TO FREEDOM FIRST CREDIT UNION (FFCU) FOR CONTRIBUTIONS TO EIGHT NON-PROFIT ORGANIZATIONS IN FFCU'S SERVICE AREA THAT PROMOTE COMMUNITY AND HOUSEHOLD ECONOMY SUCH AS POVERTY REDUCTION, AFFORDABLE HOUSING, AND FINANCIAL EDUCATION, HEALTH AND HUMAN SERVICES, AND ARTS AND CULTURE. FUNDING WAS ALSO PROVIDED TO AWARD COLLEGE SCHOLARSHIPS TO AREA HIGH SCHOOL STUDENTS.

Program 3

Expenses: $254,402

TO PROVIDE FUNDING TO BLUE RIDGE PARTNERSHIP FOR HEALTH SCIENCES CAREERS. THE INITIATIVE'S GOAL IS TO GIVE STUDENTS IN THE ROANOKE AND NEW RIVER VALLEYS AND SURROUNDING COUNTIES THE OPPORTUNITY TO...

TO PROVIDE FUNDING TO BLUE RIDGE PARTNERSHIP FOR HEALTH SCIENCES CAREERS. THE INITIATIVE'S GOAL IS TO GIVE STUDENTS IN THE ROANOKE AND NEW RIVER VALLEYS AND SURROUNDING COUNTIES THE OPPORTUNITY TO ACQUIRE STACKABLE CREDENTIALS, STARTING IN HIGH SCHOOL, AND CONTINUING THROUGH COMMUNITY COLLEGE OR A FOUR-YEAR INSTITUTION. THE INTENTION IS TO EXPAND THE PROGRAM INTO A STANDARDIZED CURRICULUM THROUGHOUT THE COMMONWEALTH OF VIRGINIA. THE CLAUDE MOORE FOUNDATION WILL CULTIVATED A STATEWIDE HEALTH SCIENCES PIPELINE TO EFFECTIVELY TO MEET THE HIGH DEMAND FOR HEALTH SCIENCES PROFESSIONALS ACROSS VIRGINIA.

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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 $72,878

Program Service Revenue $0

Investment Income $287

Other Revenue $0

TOTAL REVENUE $73,165

Expense Breakdown

Grants Paid $203,878

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $322,278

Other Expenses $160,319

TOTAL EXPENSES $364,197

Year-over-Year Comparison

	2023	2022	Change
Revenue	$73,165	$296,362	-0.8%
Expenses	$364,197	$224,315	+0.6%
Net Income	$-291,032	$72,047	-5.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIMBERLY BUTTERFIELD	SECRETARY	2.00	Officer Director	$0	$0	$0
PAUL PHILLIPS	PRES./BOARD CHAIRMAN	2.00	Officer Director	$0	$0	$0
DAVE PROSSER	VP/EXEC. DIRECTOR	2.00	Officer Director	$0	$0	$0
WAYNE STRICKLAND	TREASURER	2.00	Officer Director	$0	$0	$0
ANNETTE PATTERSON	DIRECTOR	2.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$73,165	$364,197	$298,162	$-291,032
2022	$296,362	$224,315	$580,596	$72,047
2021	$425,122	$297,942	$498,620	$127,180
2020	$201,141	$24,441	$372,689	$176,700
2019	$395,394	$376,405	$186,965	$18,989