Civic Intelligence

Freewoods Foundation

990 • Fiscal year 2023 • EIN 57-0827579

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 23, 2024

900 Veterans RoadColumbia, SC 29209-2332

(803) 776-8072

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.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

4.48x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

7th percentile

-53%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

34th percentile

-1.9%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

39th percentile

0.7%

Faster revenue growth than 39% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$977,501

Down $19,166 (-1.9%) from 2022

Net Assets

Down

$789,237

Down $22,407 (-2.8%) from 2022

Liabilities

Up

$188,264

Up $3,241 (+1.8%) from 2022

Revenue

Up

$42,012

Up $306 (+0.7%) from 2022

Expenses

Down

$64,419

Down $3,263 (-4.8%) from 2022

Net Income

Up

-$22,407

Up $3,569 (+14%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $1,232,277Liabilities 2010: $98,120Net Assets 2010: $1,134,1572010Assets 2011: $1,212,341Liabilities 2011: $115,943Net Assets 2011: $1,096,3982011Assets 2012: $1,186,476Liabilities 2012: $121,451Net Assets 2012: $1,065,0252012Assets 2013: $1,184,687Liabilities 2013: $131,240Net Assets 2013: $1,053,4472013Assets 2014: $1,161,947Liabilities 2014: $136,304Net Assets 2014: $1,025,6432014Assets 2015: $1,137,914Liabilities 2015: $141,117Net Assets 2015: $996,7972015Assets 2016: $1,140,693Liabilities 2016: $180,054Net Assets 2016: $960,6392016Assets 2017: $1,105,729Liabilities 2017: $181,056Net Assets 2017: $924,6732017Assets 2018: $1,081,647Liabilities 2018: $181,009Net Assets 2018: $900,6382018Assets 2019: $1,060,219Liabilities 2019: $180,233Net Assets 2019: $879,9862019Assets 2020: $1,038,014Liabilities 2020: $181,935Net Assets 2020: $856,0792020Assets 2021: $1,017,853Liabilities 2021: $180,233Net Assets 2021: $837,6202021Assets 2022: $996,667Liabilities 2022: $185,023Net Assets 2022: $811,6442022Assets 2023: $977,501Liabilities 2023: $188,264Net Assets 2023: $789,2372023Assets 2024: $956,369Liabilities 2024: $188,264Net Assets 2024: $768,1052024

Highlighted filing

2023

Assets$977,501
Liabilities$188,264
Net Assets$789,237

Operations Trend

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

$100K$50K$0-$50KExpenses 2010: $64,7612010Expenses 2011: $54,3622011Expenses 2012: $62,2702012Revenue 2013: $18,205Expenses 2013: $49,757Net Income 2013: -$31,5522013Revenue 2014: $26,164Expenses 2014: $53,968Net Income 2014: -$27,8042014Revenue 2015: $30,374Expenses 2015: $59,220Net Income 2015: -$28,8462015Revenue 2016: $33,138Expenses 2016: $69,293Net Income 2016: -$36,1552016Revenue 2017: $23,668Expenses 2017: $59,634Net Income 2017: -$35,9662017Revenue 2018: $31,475Expenses 2018: $55,510Net Income 2018: -$24,0352018Revenue 2019: $32,803Expenses 2019: $53,455Net Income 2019: -$20,6522019Revenue 2020: $34,304Expenses 2020: $58,211Net Income 2020: -$23,9072020Revenue 2021: $32,887Expenses 2021: $51,346Net Income 2021: -$18,4592021Revenue 2022: $41,706Expenses 2022: $67,682Net Income 2022: -$25,9762022Revenue 2023: $42,012Expenses 2023: $64,419Net Income 2023: -$22,4072023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2023

Revenue$42,012
Expenses$64,419
Net Income-$22,407
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 23, 2024
Return Version
2023v5.0
Gross Receipts
$42,012
Mission and Program Overview

Mission

The foundation's primary exempt purpose is to develop, build, operate and own an old fashioned family farm as existed in south carolina between the civil war and 1900, as a living farm history museum for education of the public.

Purpose is to build, manage, and operate a living historic farm museum as it existed between the civil war and 1900 for the purpose of educating the public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$992,857$971,724▼ $21,133
Loans From Officers Directors$184,580$188,080▲ $3,500
Cash and Non-Interest-Bearing Accounts$3,012$5,494▲ $2,482
Savings and Temporary Cash Investments$798$283▼ $515
Total Assets$996,667$977,501▼ $19,166
Liabilities
Other Liabilities$443$184▼ $259
Total Liabilities$185,023$188,264▲ $3,241
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$811,644$789,237▼ $22,407
Total Net Assets Fund Balance$811,644$789,237▼ $22,407
Total Liabilities and Net Assets / Fund Balance$996,667$977,501▼ $19,166

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$275,626$421,758$697,384
Land$696,098-$696,098
Other Land Buildings-$22,336$22,336
Equipment-$1,796$1,796
Compensation and Service Providers

Board Members and Trustees

NameTitle
O'NEAL SMALLSPresident
Elsie GravesTrustee
Veronica D GeraldTrustee
Maxine B StanleySecretary/tr
George MccauleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$19,367
Program Service Revenue
$22,644
Investment Income
$1
Other Revenue
$0
All Other Contributions
$19,367
Change in Net Assets
$-22,407
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,119
Salaries, Compensation, and Employee Benefits$10,300
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$21,719--$21,719
Depreciation Depletion$21,133--$21,133
Other Salaries and Wages$9,677--$9,677
Insurance$815$2,446-$3,261
Fees for Services Accounting-$675-$675
Payroll Taxes$623--$623
All Other Expenses-$171-$171
Other Expenses$2,141$160-$160
Total Functional Expenses$60,679$3,740$0$64,419
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$184,580$188,080▲ $3,500
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, Page 6, Part VI, Line 11B

Financial reports and tax returns are reviewed by the president, secretary, and treasurer prior to filing. After filing, the financial reports and tax returns are submitted for review and discussion to the full board of trustees.

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

Any potential or actual conflict of interest is submitted to the full board for review, consideration and disposition. The conflict of interest statement will be completed annually by each board member and reveiwed annually by the full board.

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

Board members are not paid.

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

Board members are not paid. Employees are paid just above minimum wage.

Form 990, Page 6, Part VI, Line 19

Governing documents of freewoods foundation are available to the public in the office of the secretary of state; state of south carolina, in columbia, sc, or from the president of freewoods foundation upon request.

Filing and Contact Details

Filer

Filer Name
Freewoods Foundation
EIN
57-0827579
Phone
8037768072
Address
900 VETERANS ROAD, COLUMBIA, SC 29209-2332

Signing Officer

Name
O'NEAL SMALLS
Title
President
Phone
8037768072
Signed
2024-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
O'NEAL SMALLS
Formed
1986
Legal Domicile
Sc
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
Jimmy Barnes CPA LLC
Address
PO BOX 150, MURRELLS INLET, SC 29576-0150
Preparer
Jimmy Barnes CPA
Phone
8436512500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Form 990, part i, line 1, description of organization mission: the foundation's primary exempt purpose is to develop, build, operate and own a historical family farm as existed in south carolina between the civil war and 1900, as a living farm history museum for education of the public.

Form 990, Part IX, Line 11G

Farm education 21,604 0 0 market operation 115 0 0 total 21,719 0 0

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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/LandGrp/OtherCostOrOtherBasisAmt0696098
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt022336
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt022336
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0971724
IRS990ScheduleD/TotalLiabilityAmt0184
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0188080
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0TO ASSIST ORGANIZATION WITH EXPENSE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0108000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0O'NEAL SMALLS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: O'NEAL SMALLS (B) RELATIONSHIP WITH ORGANIZATION: PRESIDENT (C) PURPOSE OF LOAN: ASSIST ORGANIZATION WITH OPERATIONS (D) LOAN TO OR FROM ORGANIZATION? = TO (E) ORIGINAL PRINCIPAL AMOUNT 108,000. (F) BALANCE DUE 184580 (G) LOAN IN DEFAULT? = NO (H) APPROVED BY BOARD OR COMMITTEE? = YES (I) WRITTEN AGREEMENT? = YES
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt0188080
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO DEVELOP, BUILD, OPERATE AND OWN A HISTORICAL FAMILY FARM AS EXISTED IN SOUTH CAROLINA BETWEEN THE CIVIL WAR AND 1900, AS A LIVING FARM HISTORY MUSEUM FOR EDUCATION OF THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FINANCIAL REPORTS AND TAX RETURNS ARE REVIEWED BY THE PRESIDENT, SECRETARY, AND TREASURER PRIOR TO FILING. AFTER FILING, THE FINANCIAL REPORTS AND TAX RETURNS ARE SUBMITTED FOR REVIEW AND DISCUSSION TO THE FULL BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST IS SUBMITTED TO THE FULL BOARD FOR REVIEW, CONSIDERATION AND DISPOSITION. THE CONFLICT OF INTEREST STATEMENT WILL BE COMPLETED ANNUALLY BY EACH BOARD MEMBER AND REVEIWED ANNUALLY BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE NOT PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS ARE NOT PAID. EMPLOYEES ARE PAID JUST ABOVE MINIMUM WAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS OF FREEWOODS FOUNDATION ARE AVAILABLE TO THE PUBLIC IN THE OFFICE OF THE SECRETARY OF STATE; STATE OF SOUTH CAROLINA, IN COLUMBIA, SC, OR FROM THE PRESIDENT OF FREEWOODS FOUNDATION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FARM EDUCATION 21,604 0 0 MARKET OPERATION 115 0 0 TOTAL 21,719 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0996667
IRS990/TotalAssetsEOYAmt0977501
IRS990/TotalAssetsGrp/BOYAmt0996667
IRS990/TotalAssetsGrp/EOYAmt0977501
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt019367
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03740
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt060679
IRS990/TotalFunctionalExpensesGrp/TotalAmt064419
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0185023
IRS990/TotalLiabilitiesEOYAmt0188264
IRS990/TotalLiabilitiesGrp/BOYAmt0185023
IRS990/TotalLiabilitiesGrp/EOYAmt0188264
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0811644
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0789237
IRS990/TotalProgramServiceExpensesAmt060679
IRS990/TotalProgramServiceRevenueAmt022644
IRS990/TotalRevenueGrp/ExclusionAmt01
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt022644
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt042012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0996667
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0977501
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09515 FREEWOODS RD
IRS990/USAddress/CityNm0MYRTLE BEACH
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029588
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0FREEWOODSFARM.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0O'NEAL SMALLS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08037768072
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREEWOODS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0570827579
ReturnHeader/Filer/PhoneNum08037768072
ReturnHeader/Filer/USAddress/AddressLine1Txt0900 VETERANS ROAD
ReturnHeader/Filer/USAddress/CityNm0COLUMBIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd0292092332
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0843959088
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JIMMY BARNES CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 150
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MURRELLS INLET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0295760150
ReturnHeader/PreparerPersonGrp/PhoneNum08436512500
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JIMMY BARNES CPA
ReturnHeader/ReturnTs02024-11-08T15:16:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.96$0.19$0.77$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.98$0.19$0.79$0.04$0.06$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.00$0.19$0.81$0.04$0.07$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.02$0.18$0.84$0.03$0.05$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.04$0.18$0.86$0.03$0.06$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.06$0.18$0.88$0.03$0.05$0.02
2018Summary only. Only limited summary data is available for this year.$1.08$0.18$0.90$0.03$0.06$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.11$0.18$0.92$0.02$0.06$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.14$0.18$0.96$0.03$0.07$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.14$0.14$1.00$0.03$0.06$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.16$0.14$1.03$0.03$0.05$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.18$0.13$1.05$0.02$0.05$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.12$1.07$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.12$1.10$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.10$1.13$0.06