Civic Intelligence

Freedom Farm

990 • Fiscal year 2022 • EIN 41-1990650

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 19, 2023

11500 Ferman Ave SWWaverly, MN 55390

(952) 955-2505

Siviq Scores

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

Liabilities / Assets

75th percentile

0.19x

Higher debt load relative to assets than 75% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.36x

Higher debt load relative to revenue than 83% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

55th percentile

9.3%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

74th percentile

$65,000

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 16.7% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

53rd percentile

3.1%

Faster asset growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

56th percentile

13%

Faster revenue growth than 56% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Flat

$722,211

Flat from 2022

Net Assets

Flat

$581,743

Flat from 2022

Liabilities

Flat

$140,468

Flat from 2022

Revenue

Flat

$389,623

Flat from 2022

Expenses

Flat

$353,519

Flat from 2022

Net Income

Flat

$36,104

Flat from 2022

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $41,633Liabilities 2011: $25,285Net Assets 2011: $16,3482011Assets 2012: $122,913Liabilities 2012: $13,949Net Assets 2012: $108,9642012Assets 2013: $133,566Liabilities 2013: $256Net Assets 2013: $133,3102013Assets 2014: $176,240Liabilities 2014: $11,364Net Assets 2014: $164,8762014Assets 2015: $211,227Liabilities 2015: $14,020Net Assets 2015: $197,2072015Assets 2016: $427,372Liabilities 2016: $118,411Net Assets 2016: $308,9612016Assets 2017: $431,371Liabilities 2017: $59,387Net Assets 2017: $371,9842017Assets 2018: $450,984Liabilities 2018: $37,902Net Assets 2018: $413,0822018Assets 2019: $479,801Liabilities 2019: $53,449Net Assets 2019: $426,3522019Assets 2020: $705,677Liabilities 2020: $155,000Net Assets 2020: $550,6772020Assets 2021: $700,639Liabilities 2021: $155,000Net Assets 2021: $545,6392021Assets 2022: $722,211Liabilities 2022: $140,468Net Assets 2022: $581,7432022Assets 2022: $722,211Liabilities 2022: $140,468Net Assets 2022: $581,7432022Assets 2023: $629,838Liabilities 2023: $131,363Net Assets 2023: $498,4752023Assets 2024: $531,859Liabilities 2024: $125,729Net Assets 2024: $406,1302024

Highlighted filing

2022

Assets$722,211
Liabilities$140,468
Net Assets$581,743

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $193,651Expenses 2011: $183,938Net Income 2011: $9,7132011Expenses 2012: $238,9942012Revenue 2013: $230,045Expenses 2013: $205,699Net Income 2013: $24,3462013Revenue 2014: $233,279Expenses 2014: $204,995Net Income 2014: $28,2842014Revenue 2015: $286,906Expenses 2015: $254,575Net Income 2015: $32,3312015Revenue 2016: $430,182Expenses 2016: $318,428Net Income 2016: $111,7542016Revenue 2017: $368,578Expenses 2017: $305,555Net Income 2017: $63,0232017Revenue 2018: $364,060Expenses 2018: $322,962Net Income 2018: $41,0982018Revenue 2019: $358,531Expenses 2019: $345,261Net Income 2019: $13,2702019Revenue 2020: $454,373Expenses 2020: $330,048Net Income 2020: $124,3252020Revenue 2021: $345,513Expenses 2021: $350,551Net Income 2021: -$5,0382021Revenue 2022: $389,623Expenses 2022: $353,519Net Income 2022: $36,1042022Revenue 2022: $389,623Expenses 2022: $353,519Net Income 2022: $36,1042022Revenue 2023: $309,114Expenses 2023: $392,382Net Income 2023: -$83,2682023Revenue 2024: $272,478Expenses 2024: $362,838Net Income 2024: -$90,3602024

Highlighted filing

2022

Revenue$389,623
Expenses$353,519
Net Income$36,104
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 19, 2023
Return Version
2022v5.0
Gross Receipts
$420,727
Mission and Program Overview

Mission

Freedom Farm enriches lives by partnering with the unique attributes of the horse to improve mobility, build confidence and encourage personal growth in children and adults with physical, mental and emotional challenges.

Freedom Farm partners with the unique gifts of the horse to offer healing, hope, confidence, and strength.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$545,639$581,743▲ $36,104
Land, Buildings, and Equipment, Net$403,155$384,136▼ $19,019
Cash and Non-Interest-Bearing Accounts$140,938$180,240▲ $39,302
Savings and Temporary Cash Investments$156,546$157,835▲ $1,289
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$700,639$722,211▲ $21,572
Liabilities
Unsecured Notes Loans Payable$155,000$140,468▼ $14,532
Total Liabilities$155,000$140,468▼ $14,532
Net Assets / Fund Balance
Total Net Assets Fund Balance$545,639$581,743▲ $36,104
Total Liabilities and Net Assets / Fund Balance$700,639$722,211▲ $21,572

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$351,420$71,319$422,739
Equipment$7,409$31,130$38,539
Buildings$17,946$7,969$25,915
Other Land Buildings$7,361$14,546$21,907
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Susie BjorklundPresidentFT$65,000$65,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$250,223
Program Service Revenue
$60,159
Investment Income
$90
Other Revenue
$79,151
All Other Contributions
$205,773
Change in Net Assets
$36,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$199,552
Salaries, Compensation, and Employee Benefits$153,967
Total Fundraising Expense$32,881
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$60,233$12,015$9,173$81,421
Current Officers, Directors, Trustees, and Key Employees$39,000$6,500$19,500$65,000
Occupancy$36,285--$36,285
Depreciation Depletion$19,019--$19,019
Insurance$12,077--$12,077
All Other Expenses-$9,143$100$9,243
Payroll Taxes$5,114$954$1,478$7,546
Other Expenses$4,173$4,973$958$4,973
Information Technology$4,313--$4,313
Interest-$3,981-$3,981
Fees for Services Accounting-$2,516-$2,516
Advertising--$1,672$1,672
Travel$1,400--$1,400
Office Expenses-$1,333-$1,333
Conferences and Meetings$514--$514
Total Functional Expenses$279,223$41,415$32,881$353,519
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$78,410
Fundraising Direct Expenses$31,104
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Derby Day$122,860$78,410$31,104$47,306
Total Events$122,860$78,410$31,104$47,306
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
No
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, Section B, line 11B

The Board is given the 990 to review. Upon approval, the 990 is filed.

Form 990, Part VI, Section B, line 15A

Executive Director salary determined by comparing to similar positions in the industry and approval by the Board of Directors.

Form 990, Part VI, Section C, line 19

Governing documents are made available upon request at the office of Freedom Farm.

Filing and Contact Details

Filer

Filer Name
Freedom Farm
EIN
41-1990650
Phone
9529552505
Address
11500 Ferman Ave SW, Waverly, MN 55390

Signing Officer

Name
Susan Bjorklund
Title
President
Phone
9529552505
Signed
2023-09-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Bjorklund
Formed
2000
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
9
Volunteers
30

Preparer

Firm
Abdo LLP
Address
5201 Eden Ave Ste 250, Edina, MN 55436
Preparer
Steven D Anseth CPA
Phone
9528359090
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IRS990/ProgSrvcAccomActy3Grp/Desc0Mount Up/Walk On: For veterans and active duty service members who are on a path of healing. It's a time to rebuild confidence and trust, focus on the 'here and now and to give back to the community.
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IRS990/RentalIncomeOrLossGrp/RealAmt020871
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05950
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0545639
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0581743
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0156546
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0157835
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt010708
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt023271
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt018000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt056979
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0250773
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0229054
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0319708
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0216482
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0283878
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01299895
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt089
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt031
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt013
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt017
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0153
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0159440
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0140999
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0144732
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0190091
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0133533
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0768795
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt089
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt031
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt013
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt017
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0153
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97240
IRS990ScheduleA/PublicSupportPY509Pct00.97790
IRS990ScheduleA/PublicSupportTotal509Amt02011711
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt010708
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt023271
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt018000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt056979
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0410213
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0370053
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0464440
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0406573
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0417411
IRS990ScheduleA/Total509Grp/TotalAmt02068690
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0410302
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0370084
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0464443
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0406586
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0417428
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02068843
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt017946
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07969
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt025915
IRS990ScheduleD/EquipmentGrp/BookValueAmt07409
IRS990ScheduleD/EquipmentGrp/DepreciationAmt031130
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt038539
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0351420
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt071319
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0422739
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt07361
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014546
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021907
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0384136
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt044450
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt044450
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt031104
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Derby Day
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0122860
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0122860
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt078410
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt078410
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt047306
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt031104
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt031104
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board is given the 990 to review. Upon approval, the 990 is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Executive Director salary determined by comparing to similar positions in the industry and approval by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents are made available upon request at the office of Freedom Farm.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0700639
IRS990/TotalAssetsEOYAmt0722211
IRS990/TotalAssetsGrp/BOYAmt0700639
IRS990/TotalAssetsGrp/EOYAmt0722211
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0250223
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032881
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041415
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0279223
IRS990/TotalFunctionalExpensesGrp/TotalAmt0353519
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0155000

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.32$1.26$4.06$2.72$3.63$0.90
2023Summary only. Only limited summary data is available for this year.$6.30$1.31$4.98$3.09$3.92$0.83
2022Detailed filing. Detailed filing data is available for this year.$7.22$1.40$5.82$3.90$3.54$0.36
2022Summary only. Only limited summary data is available for this year.$7.22$1.40$5.82$3.90$3.54$0.36
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.01$1.55$5.46$3.46$3.51$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.06$1.55$5.51$4.54$3.30$1.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.80$0.53$4.26$3.59$3.45$0.13
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.51$0.38$4.13$3.64$3.23$0.41
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.31$0.59$3.72$3.69$3.06$0.63
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.27$1.18$3.09$4.30$3.18$1.12
2015Detailed filing. Detailed filing data is available for this year.$2.11$0.14$1.97$2.87$2.55$0.32
2014Detailed filing. Detailed filing data is available for this year.$1.76$0.11$1.65$2.33$2.05$0.28
2013Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.33$2.30$2.06$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.14$1.09$2.39
2011Summary only. Only limited summary data is available for this year.$0.42$0.25$0.16$1.94$1.84$0.10