STUDENT FREEDOM INITIATIVE INC

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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

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

STUDENT FREEDOM INITIATIVE IS DEDICATED TO ENSURING FREEDOM IN PROFESSIONAL AND LIFE CHOICES FOR STUDENTS ATTENDING MINORITY SERVING INSTITUTIONS (MSIS).

Program Service Accomplishments

Program 1

Expenses: $5,090,160 Revenue: $139,919

TO ADDRESS THE OVERWHELMING STUDENT DEBT FACED BY ALL TOO MANY OF THE YOUNG MEN AND WOMEN ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES BY PROVIDING A STUDENT-CENTRIC FUNDING SOURCE FOR...

TO ADDRESS THE OVERWHELMING STUDENT DEBT FACED BY ALL TOO MANY OF THE YOUNG MEN AND WOMEN ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES BY PROVIDING A STUDENT-CENTRIC FUNDING SOURCE FOR EDUCATION COSTS AS AN ALTERNATIVE TO HIGH-INTEREST LOANS.

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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 $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

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

$511,607

Total Directors

$279,631

Key Employees

Highest Compensated

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