STUDENT FREEDOM INITIATIVE INC

EIN: 850557522 501(c)(3) Education

WASHINGTON, DC

Total Revenue
$6,005,581
Total Expenses
$6,821,861
Total Assets
$141,110,468
Net Assets
$140,838,625
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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
2020
Legal Domicile
DE
Principal Officer
KEITH SHOATES
Phone
2025590007
Tax Period
2024-07-01 to 2025-06-30

STUDENT FREEDOM INITIATIVE INC, founded in 2020, is a community nonprofit in the Education sector that reported $6.0M in total revenue in fiscal year 2024. Expenses of $6.8M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE STUDENT FREEDOM INITIATIVE IS A 501(C)(3) NONPROFIT ORGANIZATION DEDICATED TO ENSURING FREEDOM IN PROFESSIONAL AND LIFE CHOICES FOR STUDENTS ATTENDING MINORITY SERVING INSTITUTIONS (MSIS).

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,776,205
Program Service Revenue $139,919
Investment Income $2,628,965
Other Revenue $460,492
TOTAL REVENUE $6,005,581

Expense Breakdown

Grants Paid $965,023
Salaries & Benefits $2,929,742
Fundraising Expenses $662,834
Program Expenses $5,090,160
Other Expenses $2,927,096
TOTAL EXPENSES $6,821,861

Year-over-Year Comparison

2024 2023 Change
Revenue $6,005,581 $5,904,402 +0.0%
Expenses $6,821,861 $10,112,603 -0.3%
Net Income $-816,280 $-4,208,201 -0.8%
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

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Governance

Voting Members
7
Independent Members
5
Employees
25
Volunteers
5

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
3
$511,607
Total Directors
7
$279,631
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT F SMITH CHAIRMAN 4.00
Director
$0 $0 $0
HENRY LOUIS GATES DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL LOMAX DIRECTOR 1.00
Director
$0 $0 $0
LINDA WILSON DIRECTOR 1.00
Director
$0 $0 $0
LAWRENCE P BANCROFT DIRECTOR 1.00
Director
$0 $0 $0
KEITH SHOATES PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00
Officer Director
$120,820 $0 $120,820
MARK BROWN EXECUTIVE DIRECTOR 40.00
Officer Director
$158,693 $118 $158,811
MICHELE MCCULLOM GENERAL COUNSEL & SECRETARY 40.00
Officer
$207,040 $24,936 $231,976
YVETTE THOMAS DIRECTOR OF CAPACITY BUILDING 40.00
Highest
$187,216 $21,993 $209,209
BARRY CYNAMON DIRECTOR OF PROGRAM DESIGN 40.00
Highest
$203,780 $55,507 $259,287
KENNETH LUZZATTO PROJECT MANAGER 40.00
Highest
$166,473 $20,974 $187,447
RONALD CROZIER CHIEF SECURITY OFFICER 40.00
Highest
$182,925 $46,833 $229,758
GREGG MITCHELL DIRECTOR OF PHILANTHROPY 40.00
Highest
$167,411 $51,697 $219,108
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 $6,005,581 $6,821,861 $141,110,468 $-816,280
2024 $5,904,402 $10,112,603 $141,833,798 $-4,208,201
2023 $19,723,286 $7,282,206 $145,875,504 $12,441,080
2022 $15,285,825 $5,195,727 $132,770,538 $10,090,098
2021 $75,542,300 $2,829,869 $122,948,895 $72,712,431
2020 $50,060,000 $5,739 $50,054,261 $50,054,261
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