UKRAINE FREEDOM FUND

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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

2022

Legal Domicile

Principal Officer

Andy Bain

Phone

3038755109

Tax Period

2025-01-01 to 2025-12-31

UKRAINE FREEDOM FUND, founded in 2022, is a community nonprofit in the Public Safety sector that reported $1.4M in total revenue in fiscal year 2025. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 37% operating deficit.

Mission

To help create a free, independent, and democratic Ukraine where Ukrainians and people of other nationalities will have the right to freely associate and express their will in an open civil society free from corruption.

Program Service Accomplishments

Program 1

Expenses: $1,213,624

Train and Assist campaign: Provide critical training and assistance in key areas ranging from humanitarian evacuation to training in combat casualty care and survivorship.

Program 2

Expenses: $218,602

Ukraine Relief: Humanitarian aid. A large donation was made this year to a hospital to purchase a cancer diagnostic tool.

Program 3

Expenses: $44,275

Drones for Defenders campaign: Support the acquisition of humanitarian use drones and provide drone training program that includes theory, practical application, and equipment provisioning.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,407,604

Program Service Revenue $0

Investment Income $28

Other Revenue $0

TOTAL REVENUE $1,407,632

Expense Breakdown

Grants Paid $1,590,999

Salaries & Benefits $0

Fundraising Expenses $124,480

Program Expenses $1,590,999

Other Expenses $263,301

TOTAL EXPENSES $1,934,508

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,407,632	$2,140,698	-0.3%
Expenses	$1,934,508	$1,506,002	+0.3%
Net Income	$-526,876	$634,696	-1.8%

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

N/A

Independent Members

N/A

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
Andy Bain	Founder, CEO	10.00	Officer Director	$0	$0	$0
Alan Merbaum	Director	1.00	Director	$0	$0	$0
Eric Green	Director	1.00	Director	$0	$0	$0
Alexa Chopivsky	Director	1.00	Director	$0	$0	$0
Daniel Bilak	Director	1.00	Director	$0	$0	$0
Brad Fisher	Director	1.00	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	$1,407,632	$1,934,508	$293,076	$-526,876
2024	$2,140,698	$1,506,002	$820,135	$634,696
2023	$1,452,052	$1,481,594	$185,439	$-29,542
2022	$1,900,408	$1,685,427	$214,981	$214,981