Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
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.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
Liabilities / Revenue
86th percentile
Higher debt load relative to revenue than 86% of similar nonprofits.
Net Margin
78th percentile
Higher net margin than 78% of similar nonprofits.
Top Officer Pay
81st percentile
Higher top officer pay than 81% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
88th percentile
Faster asset growth than 88% of similar nonprofits.
Revenue Growth
85th percentile
Faster revenue growth than 85% of similar nonprofits.
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
Most recent year
2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.
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.
| Description | Grants | Expenses |
|---|---|---|
| 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 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| JOSEPH J THOMAS | Director | - | $0 | - | - |
| RICHARD HUTCHINSON | Director | - | $0 | - | - |
| KATHLEEN JOHNSON | Director | - | $0 | - | - |
| JOSEPH M ENGLISH III | Director | - | $0 | - | - |
| BRANDON PARK | Director | - | $0 | - | - |
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Freedom Foundation Gala | $109,834 | $109,834 | - | $109,834 |
| Total Events | $109,834 | $109,834 | $15,000 | $94,834 |
“Description: interest income. Amount: 20.”
“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.”
“Description: entertainment. Amount: 1283. Description: web payment charges. Amount: 255. Description: printing. Amount: 388. Total to form 990-ez, line 16: 1926.”
“Description: accounts payable. Beg. Of year amount: 0. End of year amount: 16670.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | 0 |
| IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | JOSEPH J THOMAS |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 7036674164 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 10555 MAIN STREET SUITE 600 |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | FAIRFAX |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | VA |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 22030 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 61005 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 100603 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | 0 |
| IRS990EZ/DirectIndirectPltclExpendAmt | 0 | 0 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | 0 |
| IRS990EZ/EngagedInExcessBenefitTransInd | 0 | 0 |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | 22928 |
| IRS990EZ/FiledScheduleAInd | 0 | 1 |
| IRS990EZ/ForeignFinancialAccountInd | 0 | 0 |
| IRS990EZ/ForeignOfficeInd | 0 | 0 |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 61005 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 100603 |
| IRS990EZ/FundraisingGrossIncomeAmt | 0 | 109834 |
| IRS990EZ/GrantsAndSimilarAmountsPaidAmt | 0 | 70000 |
| IRS990EZ/GrossReceiptsAmt | 0 | 109854 |
| IRS990EZ/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartVInd | 0 | X |
| IRS990EZ/LobbyingActivitiesInd | 0 | 0 |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | 0 |
| IRS990EZ/MethodOfAccountingCashInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | 61005 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 83933 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | 61005 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 83933 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 3 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 4 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | JOSEPH J THOMAS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | RICHARD HUTCHINSON |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | KATHLEEN JOHNSON |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 3 | JOSEPH M ENGLISH III |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 4 | BRANDON PARK |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 3 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 4 | DIRECTOR |
| IRS990EZ/OperateHospitalInd | 0 | 0 |
| IRS990EZ/Organization501c3Ind | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | 0 |
| IRS990EZ/OrganizationHadUBIInd | 0 | 0 |
| IRS990EZ/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 1926 |
| IRS990EZ/OtherRevenueTotalAmt | 0 | 20 |
| IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt | 0 | NONE |
| IRS990EZ/PartVIOfCompOfHghstPdEmplTxt | 0 | NONE |
| IRS990EZ/PoliticalCampaignActyInd | 0 | 0 |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | 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. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | 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. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 0 | 70000 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 0 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990EZ/ScheduleBNotRequiredInd | 0 | X |
| IRS990EZ/SchoolOperatingInd | 0 | 0 |
| IRS990EZ/SpecialEventsDirectExpensesAmt | 0 | 15000 |
| IRS990EZ/SpecialEventsNetIncomeLossAmt | 0 | 94834 |
| IRS990EZ/SubjectToProxyTaxInd | 0 | 0 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt | 0 | 0 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 16670 |
| IRS990EZ/TanningServicesProvidedInd | 0 | 0 |
| IRS990EZ/TaxImposedOnOrganizationMgrAmt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4911Amt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4912Amt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4955Amt | 0 | 0 |
| IRS990EZ/TaxReimbursedByOrganizationAmt | 0 | 0 |
| IRS990EZ/TotalExpensesAmt | 0 | 71926 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 0 |
| IRS990EZ/TotalRevenueAmt | 0 | 94854 |
| IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990EZ/TypeOfOrganizationCorpInd | 0 | X |
| IRS990EZ/WebsiteAddressTxt | 0 | HTTPS://WWW.FREEDOM.BANK/FOUNDATION |
| IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1913 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 1913 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.00000 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 1913 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1913 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 1913 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 1913 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 1913 |
| IRS990ScheduleG/AgrmtProfFundraisingActyInd | 0 | 0 |
| IRS990ScheduleG/EmailSolicitationsInd | 0 | X |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 15000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | FREEDOM FOUNDATION GALA |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt | 0 | 15000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt | 0 | 15000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 109834 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 109834 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 109834 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 109834 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 94834 |
| IRS990ScheduleG/InPersonSolicitationsInd | 0 | X |
| IRS990ScheduleG/MailSolicitationsInd | 0 | X |
| IRS990ScheduleG/PhoneSolicitationsInd | 0 | X |
| IRS990ScheduleG/SpecialFundraisingEventsInd | 0 | X |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | DESCRIPTION: INTEREST INCOME. AMOUNT: 20. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | DESCRIPTION: ENTERTAINMENT. AMOUNT: 1283. DESCRIPTION: WEB PAYMENT CHARGES. AMOUNT: 255. DESCRIPTION: PRINTING. AMOUNT: 388. TOTAL TO FORM 990-EZ, LINE 16: 1926. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 16670. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990-EZ, PART I, LINE 8 - OTHER REVENUE |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES |
| TransferPrsnlBnftContractsDecl/DeclarationDesc | 0 | THE 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/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JOSEPH J THOMAS |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | CEO |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 7036674164 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-11-13 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | THE FREEDOM BANK FOUNDATION INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FREE |
| ReturnHeader/Filer/EIN | 0 | 134330939 |
| ReturnHeader/Filer/PhoneNum | 0 | 7036674164 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 10555 MAIN STREET 600 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | FAIRFAX |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | VA |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 22030 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | 0 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 540737372 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | PBMARES LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 4114 LEGATO ROAD 5TH FL |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | FAIRFAX |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | VA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 22033 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 5403713566 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | JOSEPH ENGLISH |
| ReturnHeader/ReturnTs | 0 | 2025-11-14T16:00:00-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
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