Civic Intelligence

The Freedom Bank Foundation Inc

EIN 13-4330939 • 501(c)3 • Fairfax, VA

Profile

The freedom bank foundation's mission is to support and foster relationships with non-profit organizations that promote financial inclusion and make the communities freedom bank serves more vibrant and more equitable.the foundation has engaged with the community business partnership (cbp) to administer the nova freedom fund, which provides financing and technical assistance to minorities and entrepreneurs of color.

10555 Main Street 600Fairfax, VA 22030

www.freedom.bank/FOUNDATION

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.17x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

0.18x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

78th percentile

24%

Higher net margin than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

88th percentile

65%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

54%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$100,603

Up $39,598 (+65%) from 2023

Liabilities

Up

$16,670

Up $16,670 from 2023

Net Assets

Up

$83,933

Up $22,928 (+38%) from 2023

Revenue

Up

$94,854

Up $33,457 (+54%) from 2023

Expenses

Down

$71,926

Down $28,663 (-28%) from 2023

Net Income

Up

$22,928

Up $62,120 (+159%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150K$100K$50K$0Assets 2011: $4,771Liabilities 2011: $02011Assets 2012: $852Liabilities 2012: $02012Assets 2022: $100,197Liabilities 2022: $0Net Assets 2022: $100,1972022Assets 2023: $61,005Liabilities 2023: $0Net Assets 2023: $61,0052023Assets 2024: $100,603Liabilities 2024: $16,670Net Assets 2024: $83,9332024

Highlighted filing

2024

Assets$100,603
Liabilities$16,670
Net Assets$83,933

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0-$50KRevenue 2011: $450Expenses 2011: $11,050Net Income 2011: -$10,6002011Revenue 2012: $0Expenses 2012: $3,919Net Income 2012: -$3,9192012Revenue 2022: $99,577Expenses 2022: $1,293Net Income 2022: $98,2842022Revenue 2023: $61,397Expenses 2023: $100,589Net Income 2023: -$39,1922023Revenue 2024: $94,854Expenses 2024: $71,926Net Income 2024: $22,9282024

Highlighted filing

2024

Revenue$94,854
Expenses$71,926
Net Income$22,928

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$109,854
Mission and Program Overview

Mission

The freedom bank foundation's mission is to support and foster relationships with non-profit organizations that promote financial inclusion and make the communities freedom bank serves more vibrant and more equitable.the foundation has engaged with the community business partnership (cbp) to administer the nova freedom fund, which provides financing and technical assistance to minorities and entrepreneurs of color.

Program Services

DescriptionGrantsExpenses
THE FREEDOM BANK FOUNDATION'S MISSION IS TO SUPPORT AND FOSTER RELATIONSHIPS WITH NON-PROFIT ORGANIZATIONS THAT PROMOTE FINANCIAL INCLUSION AND MAKE THE COMMUNITIES FREEDOM BANK SERVES MORE VIBRANT AND MORE EQUITABLE.THE FOUNDATION HAS ENGAGED WITH THE COMMUNITY BUSINESS PARTNERSHIP (CBP) TO ADMINISTER THE NOVA FREEDOM FUND, WHICH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO MINORITIES AND ENTREPRENEURS OF COLOR. THE FUND HAS ALREADY MADE A MEANINGFUL DIFFERENCE FOR LOCAL BUSINESS OWNERS AND THROUGH YOUR SUPPORT, WE LOOK FORWARD TO HELPING MANY MORE IN OUR AREA.$70,000$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JOSEPH J THOMASDirector-$0--
RICHARD HUTCHINSONDirector-$0--
KATHLEEN JOHNSONDirector-$0--
JOSEPH M ENGLISH IIIDirector-$0--
BRANDON PARKDirector-$0--
Fundraising, Events, and Gaming

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Freedom Foundation Gala$109,834$109,834-$109,834
Total Events$109,834$109,834$15,000$94,834
Filing and Contact Details

Filer

Filer Name
The Freedom Bank Foundation Inc
EIN
13-4330939
Phone
7036674164
Address
10555 MAIN STREET 600, FAIRFAX, VA 22030

Signing Officer

Name
Joseph J Thomas
Title
CEO
Phone
7036674164
Signed
2025-11-13

Preparer

Firm
Pbmares Llp
Address
4114 LEGATO ROAD 5TH FL, FAIRFAX, VA 22033
Preparer
Joseph English
Phone
5403713566
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 8 - Other Revenue

Description: interest income. Amount: 20.

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

Activity classification: direct financing and support services for small businesses. Grantee name: community business partnership. Grantee address: 6564 loisdale ct ste 600 springfield, va 22150. Property description: cash. Method used to determine book value: cash. Method used to determine fmv: cash. Date of gift: 03/31/24. Amount given: 70000.

Form 990-ez, Part I, Line 16 - Other Expenses

Description: entertainment. Amount: 1283. Description: web payment charges. Amount: 255. Description: printing. Amount: 388. Total to form 990-ez, line 16: 1926.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: accounts payable. Beg. Of year amount: 0. End of year amount: 16670.

Raw XML Appendix164 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/PrimaryExemptPurposeTxt0THE FREEDOM BANK FOUNDATION'S MISSION IS TO SUPPORT AND FOSTER RELATIONSHIPS WITH NON-PROFIT ORGANIZATIONS THAT PROMOTE FINANCIAL INCLUSION AND MAKE THE COMMUNITIES FREEDOM BANK SERVES MORE VIBRANT AND MORE EQUITABLE.THE FOUNDATION HAS ENGAGED WITH THE COMMUNITY BUSINESS PARTNERSHIP (CBP) TO ADMINISTER THE NOVA FREEDOM FUND, WHICH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO MINORITIES AND ENTREPRENEURS OF COLOR.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST INCOME. AMOUNT: 20.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACTIVITY CLASSIFICATION: DIRECT FINANCING AND SUPPORT SERVICES FOR SMALL BUSINESSES. GRANTEE NAME: COMMUNITY BUSINESS PARTNERSHIP. GRANTEE ADDRESS: 6564 LOISDALE CT STE 600 SPRINGFIELD, VA 22150. PROPERTY DESCRIPTION: CASH. METHOD USED TO DETERMINE BOOK VALUE: CASH. METHOD USED TO DETERMINE FMV: CASH. DATE OF GIFT: 03/31/24. AMOUNT GIVEN: 70000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: ENTERTAINMENT. AMOUNT: 1283. DESCRIPTION: WEB PAYMENT CHARGES. AMOUNT: 255. DESCRIPTION: PRINTING. AMOUNT: 388. TOTAL TO FORM 990-EZ, LINE 16: 1926.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 16670.
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TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH J THOMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07036674164
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE FREEDOM BANK FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0134330939
ReturnHeader/Filer/PhoneNum07036674164
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH ENGLISH
ReturnHeader/ReturnTs02025-11-14T16:00:00-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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