Civic Intelligence

Freedom Flight

990 • Fiscal year 2015 • EIN 16-1628557

Jan 01, 2015 to Dec 31, 2015 • Filed on May 07, 2016

Organization Profilewww.FreedomFlightUSA.com
401 N Carroll AveSouthlake, TX 76092

(817) 966-2020

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.06x

Higher debt load relative to assets than 43% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

100th percentile

51.99x

Higher debt load relative to revenue than 100% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

1st percentile

-579%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

47th percentile

-0.1%

Faster asset growth than 47% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

3rd percentile

-68%

Faster revenue growth than 3% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Down

$1,868,772

Down $1,051 (-0.1%) from 2014

Net Assets

Down

$1,748,676

Down $13,376 (-0.8%) from 2014

Liabilities

Up

$120,096

Up $12,325 (+11%) from 2014

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$2,310

Down $4,810 (-68%) from 2014

Expenses

Up

$15,686

Up $610 (+4.0%) from 2014

Net Income

Down

-$13,376

Down $5,420 (-68%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $81,729Liabilities 2011: $89,014Net Assets 2011: -$7,2852011Assets 2012: $1,880,134Liabilities 2012: $93,352Net Assets 2012: $1,786,7822012Assets 2013: $1,871,556Liabilities 2013: $101,549Net Assets 2013: $1,770,0072013Assets 2014: $1,869,823Liabilities 2014: $107,771Net Assets 2014: $1,762,0522014Assets 2015: $1,868,772Liabilities 2015: $120,096Net Assets 2015: $1,748,6762015Assets 2016: $1,867,706Liabilities 2016: $141,622Net Assets 2016: $1,726,0842016Assets 2017: $2,045,243Liabilities 2017: $145,204Net Assets 2017: $1,900,0392017Assets 2018: $437,576Liabilities 2018: $0Net Assets 2018: $437,5762018Assets 2019: $364,887Liabilities 2019: $0Net Assets 2019: $364,8872019Assets 2020: $388,182Liabilities 2020: $110,599Net Assets 2020: $277,5832020Assets 2021: $442,244Liabilities 2021: $111,404Net Assets 2021: $330,8402021Assets 2022: $328,222Liabilities 2022: $95,632Net Assets 2022: $232,5902022Assets 2023: $262,589Liabilities 2023: $69,249Net Assets 2023: $193,3402023

Highlighted filing

2015

Assets$1,868,772
Liabilities$120,096
Net Assets$1,748,676
Open 2015 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$500K$0-$500K-$1.0M-$1.5MRevenue 2011: -$6,219Expenses 2011: $45,768Net Income 2011: -$51,9872011Expenses 2012: $33,7392012Revenue 2013: $3,790Expenses 2013: $20,565Net Income 2013: -$16,7752013Revenue 2014: $7,120Expenses 2014: $15,076Net Income 2014: -$7,9562014Revenue 2015: $2,310Expenses 2015: $15,686Net Income 2015: -$13,3762015Revenue 2016: $1,180Expenses 2016: $23,772Net Income 2016: -$22,5922016Revenue 2017: $190,470Expenses 2017: $14,468Net Income 2017: $176,0022017Revenue 2018: -$1,432,159Expenses 2018: $30,304Net Income 2018: -$1,462,4632018Revenue 2019: $100Expenses 2019: $53,061Net Income 2019: -$52,9612019Revenue 2020: -$16,376Expenses 2020: $70,928Net Income 2020: -$87,3042020Revenue 2021: $142,408Expenses 2021: $89,152Net Income 2021: $53,2562021Revenue 2022: $0Expenses 2022: $98,184Net Income 2022: -$98,1842022Revenue 2023: $5,124Expenses 2023: $45,052Net Income 2023: -$39,9282023

Highlighted filing

2015

Revenue$2,310
Expenses$15,686
Net Income-$13,376
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 7, 2016
Return Version
2015v2.1
Gross Receipts
$2,310
Mission and Program Overview

Mission

Mission:

Mission: Inspire the next generation, share the thrill and joy of aviation, provide unique opportunities to learn and grow, use the skill and resources we obtain to help others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,869,571$1,868,619▼ $952
Rtn Earn Endowment Incm Other Fnds$1,762,052$1,748,676▼ $13,376
Loans From Officers Directors$41,081$59,681▲ $18,600
Cash and Non-Interest-Bearing Accounts$252$153▼ $99
Total Assets$1,869,823$1,868,772▼ $1,051
Liabilities
Mortgage Notes Payable Secured by Investment Property$65,530$60,415▼ $5,115
Unsecured Notes Loans Payable$1,160--
Total Liabilities$107,771$120,096▲ $12,325
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,762,052$1,748,676▼ $13,376
Total Liabilities and Net Assets / Fund Balance$1,869,823$1,868,772▼ $1,051

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,843,000-$1,843,000
Equipment$927$122,841-
Leasehold Improvements$24,692$6,834-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
David TatumPresident
Chad TateVice President
Brandon NewDirector
Janet TatumSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,310
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,310
Change in Net Assets
$-13,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,686
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$6,417$0$0$6,417
Interest$5,329$725$0$6,054
Occupancy$1,011$0$0$1,011
Depreciation Depletion$0$952$0$952
Fees for Services Accounting$0$635$0$635
Office Expenses$0$560$0$560
Other Expenses$0$57$0$57
Total Functional Expenses$12,757$2,929$0$15,686
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$41,081$59,681▲ $18,600
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Freedom Flight Inc
EIN
16-1628557
Phone
8179662020
Address
401 N Carroll Ave, Southlake, TX 76092

Signing Officer

Name
David Tatum
Title
President
Phone
8179662020
Signed
2016-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Tatum
Formed
2002
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
5

Preparer

Firm
Jeri Jo Blackmon Ea
Address
1408 Mistletoe Dr, Fort Worth, TX 76110-1023
Preparer
Jeri Jo Blackmon
Phone
8179234393
Supplemental Narrative

Additional Explanations

Pt XII, Line 1

“Modified Cash”

Pt VI, Line 11B

“Form 990 reviewed by President”

Pt VI, Line 19

“Financial statements are available to the public upon request”

Pt VI, Line 2

“President and Secretary are husband and wife”

Form 990EZ, Part I, Line 16

“Aircraft Expenses”

Form 990EZ, Part I, Line 16

“Interest Expense”

Form 990EZ, Part II, Line 24

“Fixed Assets”

Form 990EZ, Part II, Line 26

“Platinum Plus for Business credit card 9564”

Form 990EZ, Part II, Line 26

“Tatum Loan”

Form 990EZ, Part II, Line 26

“Stearman Loan”

Raw XML Appendix332 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Financial statements are available to the public upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3President and Secretary are husband and wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Aircraft Expenses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Interest Expense
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Fixed Assets
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Platinum Plus for Business credit card 9564
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Tatum Loan
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Stearman Loan
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02929
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012757
IRS990/TotalFunctionalExpensesGrp/TotalAmt015686
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0107771
IRS990/TotalLiabilitiesEOYAmt0120096
IRS990/TotalLiabilitiesGrp/BOYAmt0107771
IRS990/TotalLiabilitiesGrp/EOYAmt0120096
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01762052
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01748676
IRS990/TotalProgramServiceExpensesAmt012757
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02310
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01869823
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01868772
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01160
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0401 N Carroll Ave Ste 197
IRS990/USAddress/CityNm0Southlake
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076092
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.FreedomFlightUSA.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID TATUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08179662020
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Freedom Flight Inc
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0161628557
ReturnHeader/Filer/PhoneNum08179662020
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 N Carroll Ave
ReturnHeader/Filer/USAddress/CityNm0Southlake
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076092
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JERI JO BLACKMON EA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01408 Mistletoe Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Fort Worth
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0761101023
ReturnHeader/PreparerPersonGrp/PhoneNum08179234393
ReturnHeader/PreparerPersonGrp/PreparationDt02016-07-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JERI JO BLACKMON
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-07-22T18:27:48-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,868,772
Liabilities
$120,096
Net assets
$1,748,676
Revenue
$2,310
Expenses
$15,686
Net income
-$13,376
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.26$0.07$0.19$0.01$0.05$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.33$0.10$0.23$0.00$0.10$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.11$0.33$0.14$0.09$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.39$0.11$0.28$0.02$0.07$0.09
2019Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.00$0.05$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$1.43$0.03$1.46
2017Detailed filing. Detailed filing data is available for this year.$2.05$0.15$1.90$0.19$0.01$0.18
2016Detailed filing. Detailed filing data is available for this year.$1.87$0.14$1.73$0.00$0.02$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.87$0.12$1.75$0.00$0.02$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.87$0.11$1.76$0.01$0.02$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.87$0.10$1.77$0.00$0.02$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$0.09$1.79$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.09$0.01$0.01$0.05$0.05
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $1M-$5M nonprofits