Civic Intelligence

Dfree Global Foundation Inc.

990 • Fiscal year 2018 • EIN 45-4317604

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

Organization ProfileWWW.BILLIONDOLLARPAYDOWN.COM
4 Sassman LaneMonmouth Junction, NJ 08852

(732) 839-2492

Siviq Scores

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

Liabilities / Assets

81st percentile

0.60x

Higher debt load relative to assets than 81% of similar nonprofits.

2018 filings • NTEE P • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

53rd percentile

0.11x

Higher debt load relative to revenue than 53% of similar nonprofits.

2018 filings • NTEE P • $1M-$5M nonprofits • Source year 2018

Net Margin

59th percentile

4.0%

Higher net margin than 59% of similar nonprofits.

2018 filings • NTEE P • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

82nd percentile

$150,000

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

2018 filings • NTEE P • $1M-$5M nonprofits • Source year 2018

Asset Growth

95th percentile

114%

Faster asset growth than 95% of similar nonprofits.

2018 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

91st percentile

47%

Faster revenue growth than 91% of similar nonprofits.

2018 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$262,158

Up $139,598 (+114%) from 2017

Net Assets

Up

$103,618

Up $60,160 (+138%) from 2017

Liabilities

Up

$158,540

Up $79,438 (+100%) from 2017

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin59th percentile

Revenue

Up

$1,500,547

Up $482,961 (+47%) from 2017

Expenses

Up

$1,440,387

Up $392,305 (+37%) from 2017

Net Income

Up

$60,160

Up $90,656 (+297%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$1.0M$500K$0-$500KAssets 2013: $114,573Liabilities 2013: $49,222Net Assets 2013: $65,3512013Assets 2014: $63,236Liabilities 2014: $32,650Net Assets 2014: $30,5862014Assets 2015: $39,515Liabilities 2015: $38,700Net Assets 2015: $8152015Assets 2016: $218,494Liabilities 2016: $18,993Net Assets 2016: $199,5012016Assets 2017: $122,560Liabilities 2017: $79,102Net Assets 2017: $43,4582017Assets 2018: $262,158Liabilities 2018: $158,540Net Assets 2018: $103,6182018Assets 2019: $120,520Liabilities 2019: $73,925Net Assets 2019: $46,5952019Assets 2020: $722,115Liabilities 2020: $179,126Net Assets 2020: $542,9892020Assets 2021: $276,547Liabilities 2021: $49,261Net Assets 2021: $227,2862021Assets 2022: $349,121Liabilities 2022: $40,262Net Assets 2022: $308,8592022Assets 2023: $183,999Liabilities 2023: $95,942Net Assets 2023: $88,0572023Assets 2024: $71,695Liabilities 2024: $165,459Net Assets 2024: -$93,7642024

Highlighted filing

2018

Assets$262,158
Liabilities$158,540
Net Assets$103,618
Open 2018 Filing

Operations Trend

Revenue Growth91st percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2013: $135,086Expenses 2013: $121,295Net Income 2013: $13,7912013Revenue 2014: $174,923Expenses 2014: $209,687Net Income 2014: -$34,7642014Revenue 2015: $205,595Expenses 2015: $235,366Net Income 2015: -$29,7712015Revenue 2016: $865,949Expenses 2016: $667,263Net Income 2016: $198,6862016Revenue 2017: $1,017,586Expenses 2017: $1,048,082Net Income 2017: -$30,4962017Revenue 2018: $1,500,547Expenses 2018: $1,440,387Net Income 2018: $60,1602018Revenue 2019: $1,573,750Expenses 2019: $1,630,773Net Income 2019: -$57,0232019Revenue 2020: $1,829,647Expenses 2020: $1,333,253Net Income 2020: $496,3942020Revenue 2021: $1,210,274Expenses 2021: $1,525,977Net Income 2021: -$315,7032021Revenue 2022: $1,532,089Expenses 2022: $1,450,516Net Income 2022: $81,5732022Revenue 2023: $309,193Expenses 2023: $521,705Net Income 2023: -$212,5122023Revenue 2024: $494,548Expenses 2024: $676,369Net Income 2024: -$181,8212024

Highlighted filing

2018

Revenue$1,500,547
Expenses$1,440,387
Net Income$60,160
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$1,500,547
Mission and Program Overview

Mission

The organization's mission is to promote and educate the public about financial literacy. The d-free program's purpose is to motivate individuals that are in financial crisis to lead a debt-free life. The organization provides guidance and financial counseling using the "d-free" living strategy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$54,075$174,452▲ $120,377
Land, Buildings, and Equipment, Net-$36,118-
Cash and Non-Interest-Bearing Accounts$26,217$18,020▼ $8,197
Intangible Assets$18,174$10,923▼ $7,251
Accounts Receivable-$10,000-
Prepaid Expenses and Deferred Charges$6,219$9,264▲ $3,045
Savings and Temporary Cash Investments$17,875$3,381▼ $14,494
Total Assets$122,560$262,158▲ $139,598
Liabilities
Accounts Payable and Accrued Expenses$61,532$138,689▲ $77,157
Deferred Revenue-$19,851-
Other Liabilities$17,570--
Total Liabilities$79,102$158,540▲ $79,438
Net Assets / Fund Balance
Unrestricted Net Assets$43,458$103,618▲ $60,160
Total Net Assets Fund Balance$43,458$103,618▲ $60,160
Total Liabilities and Net Assets / Fund Balance$122,560$262,158▲ $139,598

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$36,118$4,728$40,846
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tamika StembridgeExecutive DiFT$150,000$150,000

Board Members and Trustees

NameTitle
Deforest B Soaries JrPresident
Michelle CharlesSecretary/tr
Martin SoariesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,468,565
Program Service Revenue
$31,929
Investment Income
$53
Other Revenue
$0
All Other Contributions
$1,468,565
Change in Net Assets
$60,160

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,500,547
Total Revenue per Audited Statements
$1,500,547
Total Revenue per Form 990
$1,500,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$960,945
Salaries, Compensation, and Employee Benefits$479,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$323,665$80,916-$404,581
Travel$158,402--$158,402
Office Expenses$39,697$8,668-$48,365
Other Employee Benefits$32,179$8,045-$40,224
All Other Expenses$31,340$6,559-$37,899
Other Expenses$27,864$6,966-$34,830
Payroll Taxes$27,710$6,927-$34,637
Occupancy$19,200$4,800-$24,000
Depreciation Depletion$9,584$2,395-$11,979
Fees for Services Accounting-$10,550-$10,550
Insurance-$6,565-$6,565
Fees for Services Legal-$243-$243
Total Functional Expenses$1,297,753$142,634$0$1,440,387

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,440,387
Total Expenses per Audited Statements$1,440,387
Total Expenses per Form 990$1,440,387
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
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Deforest b. Soaries, jr margaret soaries pres/trustee vp/trustee relatives”

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

“990 is distributed to all board members for review before it is filed”

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

“Conflict of interest policy is reviewed at board meetings”

Form 990, Page 6, Part VI, Line 19

“Certain governing documents are made available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Dfree Global Foundation Inc
EIN
45-4317604
Phone
7328392492
Address
4 SASSMAN LANE, MONMOUTH JUNCTION, NJ 08852

Signing Officer

Name
Deforest B Soaries Jr
Title
President
Phone
7329918364
Signed
2019-11-13

Organization Details

Principal Officer
Deforest B Soaries Jr
Formed
2012
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
13
Volunteers
175

Preparer

Firm
Hamilton Financial Group
Address
1540 KUSER ROAD SUITE A4, MERCERVILLE, NJ 08619-3828
Preparer
Peter S Martin CPA
Phone
6095810300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's mission is to promote and educate the public about financial literacy. The d-free program's purpose is to motivate individuals that are in financial crisis to lead a debt-free life. The organization provides guidance and financial counseling using the "d-free" living strategy.”

Form 990, Page 1, Part I, Line 6

“Volunteers serve on the board.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a tax-exempt organization under section 501 (c) (3) of the internal revenue code. Accordingly, no provision for federal or state income taxes has been recorded in the financial statements. Generally accepted accounting principles prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It requires that computations of current and deferred income taxes only consider tax positions that are more than likely than not to be sustained if the tax authorities examine a position. The organization evaluates statutes of limitations, changes in tax law and new authoritative rulings and accrues for liabilities if applicable. The organization's analysis found no uncertain tax positions. Federal and state tax returns are subject to examination by the taxing authorities generally for a period of three years after they are filed. Any penalties and interest assessed by taxing authorities are included in operating expenses. No interest and penalties have been recorded for the year ended december 31, 2018.”

Raw XML Appendix387 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT REQUIRES THAT COMPUTATIONS OF CURRENT AND DEFERRED INCOME TAXES ONLY CONSIDER TAX POSITIONS THAT ARE MORE THAN LIKELY THAN NOT TO BE SUSTAINED IF THE TAX AUTHORITIES EXAMINE A POSITION. THE ORGANIZATION EVALUATES STATUTES OF LIMITATIONS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS AND ACCRUES FOR LIABILITIES IF APPLICABLE. THE ORGANIZATION'S ANALYSIS FOUND NO UNCERTAIN TAX POSITIONS. FEDERAL AND STATE TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES GENERALLY FOR A PERIOD OF THREE YEARS AFTER THEY ARE FILED. ANY PENALTIES AND INTEREST ASSESSED BY TAXING AUTHORITIES ARE INCLUDED IN OPERATING EXPENSES. NO INTEREST AND PENALTIES HAVE BEEN RECORDED FOR THE YEAR ENDED DECEMBER 31, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION IS TO PROMOTE AND EDUCATE THE PUBLIC ABOUT FINANCIAL LITERACY. THE D-FREE PROGRAM'S PURPOSE IS TO MOTIVATE INDIVIDUALS THAT ARE IN FINANCIAL CRISIS TO LEAD A DEBT-FREE LIFE. THE ORGANIZATION PROVIDES GUIDANCE AND FINANCIAL COUNSELING USING THE "D-FREE" LIVING STRATEGY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS SERVE ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DEFOREST B. SOARIES, JR MARGARET SOARIES PRES/TRUSTEE VP/TRUSTEE RELATIVES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3990 IS DISTRIBUTED TO ALL BOARD MEMBERS FOR REVIEW BEFORE IT IS FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY IS REVIEWED AT BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CERTAIN GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DEFOREST B SOARIES JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07329918364
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DFREE GLOBAL FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0DFRE
ReturnHeader/Filer/EIN0454317604
ReturnHeader/Filer/PhoneNum07328392492
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ReturnHeader/FilingSecurityInformation/IPTm016:24:43
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223403296
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HAMILTON FINANCIAL GROUP
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ReturnHeader/PreparerPersonGrp/PhoneNum06095810300
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER S MARTIN CPA
ReturnHeader/ReturnTs02019-11-14T16:24:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$262,158
Liabilities
$158,540
Net assets
$103,618
Revenue
$1,500,547
Expenses
$1,440,387
Net income
$60,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.17$0.09$0.49$0.68$0.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.10$0.09$0.31$0.52$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.04$0.31$1.53$1.45$0.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.05$0.23$1.21$1.53$0.32
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.18$0.54$1.83$1.33$0.50
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.07$0.05$1.57$1.63$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.26$0.16$0.10$1.50$1.44$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.08$0.04$1.02$1.05$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.02$0.20$0.87$0.67$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.04$0.04$0.00$0.21$0.24$0.03
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.03$0.03$0.17$0.21$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.11$0.05$0.07$0.14$0.12$0.01