Marble Freedom Trust (EIN 850784793) - 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

2020

Legal Domicile

Principal Officer

Leonard A Leo

Phone

5615633547

Tax Period

2024-05-01 to 2025-04-30

Marble Freedom Trust, founded in 2020, is a mid-sized nonprofit that reported $77.3M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $223.6M exceeded revenue, resulting in a 189% operating deficit.

Mission

To maintain and expand human freedom consistent with the values and ideals set forth in the Declaration of Independence and the Constitution of the United States.

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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 $0

Program Service Revenue $0

Investment Income $77,327,274

Other Revenue $0

TOTAL REVENUE $77,327,274

Expense Breakdown

Grants Paid $206,750,000

Salaries & Benefits $1,448,373

Fundraising Expenses $0

Program Expenses $207,419,275

Other Expenses $15,402,666

TOTAL EXPENSES $223,601,039

Year-over-Year Comparison

	2024	2023	Change
Revenue	$77,327,274	$62,284,458	+0.2%
Expenses	$223,601,039	$200,659,956	+0.1%
Net Income	$-146,273,765	$-138,375,498	+0.1%

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

N/A

Employees

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

$500,000

Total Directors

$500,000

Key Employees

$901,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Alex Marshall	CIO	55	Key Emp	$901,000	$0	$901,000
Leonard A Leo	Trustee and Chairman	25	Officer Director	$500,000	$0	$500,000
Jonathan Bunch	Successor Trustee	0.5	Director	$0	$0	$0
Tyler Green	Administrative Trustee	0.5	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	$77,327,274	$223,601,039	$877,636,565	$-146,273,765
2024	$62,284,458	$200,659,956	$992,102,282	$-138,375,498
2023	$48,470,772	$223,627,384	$1,042,289,889	$-175,156,612
2022	$26,601,822	$184,923,907	$1,226,534,029	$-158,322,085
2022	$26,601,822	$184,923,907	$1,226,534,029	$-158,322,085
2022	$26,601,822	$184,923,907	$1,226,534,029	$-158,322,085
2021	$1,642,871,821	$229,663,690	$1,413,208,131	$1,413,208,131

Marble Freedom Trust