Civic Intelligence

Freedom Academy Inc

EIN 35-1935362 • 501(c)3 • Kendallville, IN

Profile

To enhance the quality of life for those who are willing to enrich their education.

PO Box 515Kendallville, IN 46755

www.freedomacademy.net

Siviq Scores

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

Liabilities / Assets

48th percentile

0.05x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.03x

Higher debt load relative to revenue than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

48th percentile

3.4%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$127,315

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

61st percentile

7.5%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

63rd percentile

16%

Faster revenue growth than 63% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$862,283

Up $60,288 (+7.5%) from 2023

Liabilities

Up

$45,170

Up $1,821 (+4.2%) from 2023

Net Assets

Up

$817,113

Up $58,467 (+7.7%) from 2023

Revenue

Up

$1,316,132

Up $183,756 (+16%) from 2023

Expenses

Down

$1,271,878

Down $14,195 (-1.1%) from 2023

Net Income

Up

$44,254

Up $197,951 (+129%) from 2023

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $689,160Liabilities 2020: $100,707Net Assets 2020: $588,4532020Assets 2021: $1,529,780Liabilities 2021: $53,966Net Assets 2021: $1,475,8142021Assets 2022: $938,812Liabilities 2022: $51,586Net Assets 2022: $887,2262022Assets 2023: $801,995Liabilities 2023: $43,349Net Assets 2023: $758,6462023Assets 2024: $862,283Liabilities 2024: $45,170Net Assets 2024: $817,1132024

Highlighted filing

2024

Assets$862,283
Liabilities$45,170
Net Assets$817,113

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $909,456Expenses 2020: $990,382Net Income 2020: -$80,9262020Revenue 2021: $2,030,669Expenses 2021: $1,163,327Net Income 2021: $867,3422021Revenue 2022: $694,620Expenses 2022: $1,224,061Net Income 2022: -$529,4412022Revenue 2023: $1,132,376Expenses 2023: $1,286,073Net Income 2023: -$153,6972023Revenue 2024: $1,316,132Expenses 2024: $1,271,878Net Income 2024: $44,2542024

Highlighted filing

2024

Revenue$1,316,132
Expenses$1,271,878
Net Income$44,254

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.0
Gross Receipts
$1,316,132
Mission and Program Overview

Mission

To enhance the quality of life for those who are willing to enrich their education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$758,646$817,113▲ $58,467
Savings and Temporary Cash Investments$157,379$320,787▲ $163,408
Land, Buildings, and Equipment, Net$229,116$198,839▼ $30,277
Accounts Receivable$102,812$8,389▼ $94,423
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Total Assets$801,995$862,283▲ $60,288
Other Assets Total$312,488$334,068▲ $21,580
Liabilities
Accounts Payable and Accrued Expenses$43,349$45,170▲ $1,821
Total Liabilities$43,349$45,170▲ $1,821
Net Assets / Fund Balance
Total Net Assets Fund Balance$758,646$817,113▲ $58,467
Total Liabilities and Net Assets / Fund Balance$801,995$862,283▲ $60,288

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$198,839$80,110-
Other Assets Org$334,068--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Melissa CarpenterExecutive DiFT$107,721$19,594$127,315

Board Members and Trustees

NameTitle
Erica DekkoPresident
Brenda HantzBoard Member
Thomas LeedyBoard Member
Tracy TiptonBoard Member
Gary GatmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$571,362
Program Service Revenue
$717,697
Investment Income
$27,073
Other Revenue
$0
All Other Contributions
$571,362
Change in Net Assets
$44,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$661,750
Salaries, Compensation, and Employee Benefits$565,940
Grants and Similar Amounts Paid$44,188
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$261,991$65,497-$327,488
Fees for Services Other$323,684--$323,684
Current Officers, Directors, Trustees, and Key Employees-$107,721-$107,721
Other Employee Benefits$41,122$21,310-$62,432
Grants to Domestic Individuals$44,188--$44,188
Occupancy$34,841$6,625-$41,466
Payroll Taxes$23,699$13,772-$37,471
Pension Plan Contributions$18,011$12,817-$30,828
Depreciation Depletion$8,377$21,899-$30,276
Travel$16,777$4,194-$20,971
Information Technology$10,222$8,948-$19,170
Office Expenses$10,340$8,371-$18,711
Insurance$8,815$3,410-$12,225
Other Expenses$9,908$18,353-$9,908
Conferences and Meetings$6,400$1,693-$8,093
Advertising$5,485--$5,485
Fees for Services Legal$2,765$1,680-$4,445
Interest-$2,309-$2,309
Fees for Services Management-$1,750-$1,750
Fees for Services Accounting-$275-$275
Total Functional Expenses$971,254$300,624$0$1,271,878
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

- line 2 erica dekko is the secretary of the board of directors for the dekko foundation, inc. (tid 35-1528135). The dekko foundation, inc., is a major funder of the freedom academy, inc. (tid 35-1935362). The freedom academy, inc., was established by the founder of the dekko foundation, inc., who wanted to educate adults in local communities to make them greater assets to their employers and promote economic freedom through education. Part vi - line 2 - related party information among officers dekko foundation secretary

Form 990, Page 6, Part VI, Line 2

Dekko foundation secretary

Form 990, Page 6, Part VI, Line 11B

The process freedom academy uses to review form 990 annually: 1. Form 990 document is compiled by controller and director. 2. Director presents copy to each governing board member at either february or april board meeting (prior to filing date of may 15). 3. Each board member is able to review and comment on the form's content. A vote is taken to approve the form 990 before filing.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest statement is distributed at the first meeting of the board of directors each fiscal year. All board members (including teens on the board) are required to disclose any information that would give rise to conflict. In addition, the executive director and all staff members are required to disclose information on the conflict of interest form annually. These forms are kept on file in the director's office with copies to the controller for record retention. Any member with a conflict of interest is not allowed to speak on behalf of the conflict or vote on any item involving the conflict.

Form 990, Page 6, Part VI, Line 15A

Committee determines wage range and salary package. Oard of directors vote to approve wage and benefits package.

Form 990, Page 6, Part VI, Line 15B

The hiring process for executive director (key employees) is such that: upon resignation or termination of the organizations' executive director (key employees), the board of directors would assign a committee to begin the hiring process for a new executive director (key employees). The process would look like this: 1. Form committee 2. Advertise, seek referrals 3. Interviews conducted in one on one and then group setting for director position. For staff, team interviews have been implemented. 4. Committee determines wage range and salary package. 5. Board of directors vote to approve wage and benefits package for new hire.

Form 990, Page 6, Part VI, Line 19

Copies are made available upon request of the governing documents, conflicts of interest policy, financial statements, and the 990 tax return.

Filing and Contact Details

Filer

Filer Name
Freedom Academy Inc
EIN
35-1935362
Phone
2603470887
Address
PO BOX 515, KENDALLVILLE, IN 46755

Signing Officer

Name
Melissa Carpenter
Title
Executive Director
Phone
2603470887
Signed
2025-05-15

Organization Details

Principal Officer
Melissa Carpenter
Formed
1994
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
13

Preparer

Firm
Butler CPA LLC
Address
733 E NORTH ST, KENDALLVILLE, IN 46755
Preparer
Carla B Butler
Phone
2603470475
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted instructors 323,684 0 0

Form 990, Part X

Endowment 334,068.00 total line 15 334,068.00

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ASSETS HELD AT COMMUNITY FOUNDATION
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PRINTED ON ALL CLASS SCHEDULES MAILED TO THE PUBLIC. FREEDOM ACADEMY, INC. ADMITS STUDENTS OF ANY SEX, RACE, COLOR, NATIONAL AND ETHNIC ORIGIN OR DISABILITY TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS. IT DOES NOT DESCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, NATIONAL AND ETHNIC ORIGINS OR DISABILITIES IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, OR OTHER FREEDOM ACADEMY ADMINISTERED POLICIES OR PROGRAMS.
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IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0- LINE 2 ERICA DEKKO IS THE SECRETARY OF THE BOARD OF DIRECTORS FOR THE DEKKO FOUNDATION, INC. (TID 35-1528135). THE DEKKO FOUNDATION, INC., IS A MAJOR FUNDER OF THE FREEDOM ACADEMY, INC. (TID 35-1935362). THE FREEDOM ACADEMY, INC., WAS ESTABLISHED BY THE FOUNDER OF THE DEKKO FOUNDATION, INC., WHO WANTED TO EDUCATE ADULTS IN LOCAL COMMUNITIES TO MAKE THEM GREATER ASSETS TO THEIR EMPLOYERS AND PROMOTE ECONOMIC FREEDOM THROUGH EDUCATION. PART VI - LINE 2 - RELATED PARTY INFORMATION AMONG OFFICERS DEKKO FOUNDATION SECRETARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DEKKO FOUNDATION SECRETARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS FREEDOM ACADEMY USES TO REVIEW FORM 990 ANNUALLY: 1. FORM 990 DOCUMENT IS COMPILED BY CONTROLLER AND DIRECTOR. 2. DIRECTOR PRESENTS COPY TO EACH GOVERNING BOARD MEMBER AT EITHER FEBRUARY OR APRIL BOARD MEETING (PRIOR TO FILING DATE OF MAY 15). 3. EACH BOARD MEMBER IS ABLE TO REVIEW AND COMMENT ON THE FORM'S CONTENT. A VOTE IS TAKEN TO APPROVE THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST STATEMENT IS DISTRIBUTED AT THE FIRST MEETING OF THE BOARD OF DIRECTORS EACH FISCAL YEAR. ALL BOARD MEMBERS (INCLUDING TEENS ON THE BOARD) ARE REQUIRED TO DISCLOSE ANY INFORMATION THAT WOULD GIVE RISE TO CONFLICT. IN ADDITION, THE EXECUTIVE DIRECTOR AND ALL STAFF MEMBERS ARE REQUIRED TO DISCLOSE INFORMATION ON THE CONFLICT OF INTEREST FORM ANNUALLY. THESE FORMS ARE KEPT ON FILE IN THE DIRECTOR'S OFFICE WITH COPIES TO THE CONTROLLER FOR RECORD RETENTION. ANY MEMBER WITH A CONFLICT OF INTEREST IS NOT ALLOWED TO SPEAK ON BEHALF OF THE CONFLICT OR VOTE ON ANY ITEM INVOLVING THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMMITTEE DETERMINES WAGE RANGE AND SALARY PACKAGE. OARD OF DIRECTORS VOTE TO APPROVE WAGE AND BENEFITS PACKAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE HIRING PROCESS FOR EXECUTIVE DIRECTOR (KEY EMPLOYEES) IS SUCH THAT: UPON RESIGNATION OR TERMINATION OF THE ORGANIZATIONS' EXECUTIVE DIRECTOR (KEY EMPLOYEES), THE BOARD OF DIRECTORS WOULD ASSIGN A COMMITTEE TO BEGIN THE HIRING PROCESS FOR A NEW EXECUTIVE DIRECTOR (KEY EMPLOYEES). THE PROCESS WOULD LOOK LIKE THIS: 1. FORM COMMITTEE 2. ADVERTISE, SEEK REFERRALS 3. INTERVIEWS CONDUCTED IN ONE ON ONE AND THEN GROUP SETTING FOR DIRECTOR POSITION. FOR STAFF, TEAM INTERVIEWS HAVE BEEN IMPLEMENTED. 4. COMMITTEE DETERMINES WAGE RANGE AND SALARY PACKAGE. 5. BOARD OF DIRECTORS VOTE TO APPROVE WAGE AND BENEFITS PACKAGE FOR NEW HIRE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COPIES ARE MADE AVAILABLE UPON REQUEST OF THE GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, FINANCIAL STATEMENTS, AND THE 990 TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRACTED INSTRUCTORS 323,684 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ENDOWMENT 334,068.00 TOTAL LINE 15 334,068.00
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART X
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