FREEDOM FARM INC

EIN: 854209238 501(c)(3) Housing & Shelter

TUSCALOOSA, AL

Total Revenue
$4,346,237
Total Expenses
$241,348
Total Assets
$4,322,146
Net Assets
$4,316,447
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
AL
Principal Officer
JOHN O WAITS
Phone
2052337722
Tax Period
2023-01-01 to 2023-12-31

FREEDOM FARM INC, founded in 2020, is a community nonprofit in the Housing & Shelter sector that reported $4.3M in total revenue in fiscal year 2023. Revenue surged 3349% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 94% operating margin.

Mission

FREEDOM FARM EXIST TO PROVIDE GUIDANCE, TRAINING, HOPE AND LOVE TO ABANDONED AND AT RISK CHILDREN BY PROVIDING THEM CARE AND SHELTER IN NURTUING SAFE HOMES IN A CHRISTIAN ENVIRONMENT.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,287,649
Program Service Revenue $0
Investment Income $58,588
Other Revenue $0
TOTAL REVENUE $4,346,237

Expense Breakdown

Grants Paid $0
Salaries & Benefits $142,494
Fundraising Expenses $0
Program Expenses $241,348
Other Expenses $98,854
TOTAL EXPENSES $241,348

Year-over-Year Comparison

2023 2022 Change
Revenue $4,346,237 $126,000 +33.5%
Expenses $241,348 $6,502 +36.1%
Net Income $4,104,889 $119,498 +33.4%
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

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Governance

Voting Members
18
Independent Members
18
Employees
7
Volunteers
25

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
18
$0
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD BURCH MEMBER 2.00
Officer Director
$0 $0 $0
WELDON COLE MEMBER 2.00
Officer Director
$0 $0 $0
LYNN CORDER MEMBER 2.00
Officer Director
$0 $0 $0
SUSAN CORK MEMBER 2.00
Officer Director
$0 $0 $0
JHEOVANNY GOMEZ MEMBER 2.00
Officer Director
$0 $0 $0
JENNIFER HART MEMBER 2.00
Officer Director
$0 $0 $0
RAY HAYES MEMBER 2.00
Officer Director
$0 $0 $0
WILL HEWSON MEMBER 2.00
Officer Director
$0 $0 $0
KELLIE HUBBARD MEMBER 2.00
Officer Director
$0 $0 $0
MEGAN JOHNSON MEMBER 2.00
Officer Director
$0 $0 $0
BROCK JONES MEMBER 2.00
Officer Director
$0 $0 $0
SHELLEY JONES MEMBER 2.00
Officer Director
$0 $0 $0
CHARLES NASH MEMBER 2.00
Officer Director
$0 $0 $0
RANDY PERKINS MEMBER 2.00
Officer Director
$0 $0 $0
MAC PORTERA MEMBER 2.00
Officer Director
$0 $0 $0
MATT TOMPKINS MEMBER 2.00
Officer Director
$0 $0 $0
JOHN O WAITS PRESIDENT 2.00
Officer Director
$0 $0 $0
FITZGERALD WASHINGTON MEMBER 2.00
Officer 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 No data No data No data No data
2023 $4,346,237 $241,348 $4,322,146 $4,104,889
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