Civic Intelligence

Freedom Communities

EIN 82-2329303 • 501(c)3 • Charlotte, NC

Profile

We drive holistic family and community transformation through innovative programs and real estate investments in the freedom drive corridor.

3501 Tuckaseegee RoadCharlotte, NC 28208

www.freedomcommunities.com

Siviq Scores

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

Liabilities / Assets

67th percentile

0.29x

Higher debt load relative to assets than 67% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.51x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

92nd percentile

59%

Higher net margin than 92% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

82nd percentile

23%

Faster asset growth than 82% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Revenue Growth

82nd percentile

39%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Assets

Up

$8,797,859

Up $2,217,615 (+34%) from 2023

Liabilities

Down

$2,591,309

Down $741,238 (-22%) from 2023

Net Assets

Up

$6,206,550

Up $2,958,853 (+91%) from 2023

Revenue

Up

$5,056,122

Up $2,619,075 (+107%) from 2023

Expenses

Up

$2,097,269

Up $187,555 (+9.8%) from 2023

Net Income

Up

$2,958,853

Up $2,431,520 (+461%) from 2023

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0Assets 2017: $70,432Liabilities 2017: $0Net Assets 2017: $70,4322017Assets 2018: $36,631Liabilities 2018: $0Net Assets 2018: $36,6312018Assets 2019: $999,585Liabilities 2019: $500,298Net Assets 2019: $499,2872019Assets 2020: $1,682,010Liabilities 2020: $627,000Net Assets 2020: $1,055,0102020Assets 2021: $2,843,909Liabilities 2021: $1,238,005Net Assets 2021: $1,605,9042021Assets 2022: $5,776,301Liabilities 2022: $3,055,937Net Assets 2022: $2,720,3642022Assets 2023: $6,580,244Liabilities 2023: $3,332,547Net Assets 2023: $3,247,6972023Assets 2024: $8,797,859Liabilities 2024: $2,591,309Net Assets 2024: $6,206,5502024

Highlighted filing

2024

Assets$8,797,859
Liabilities$2,591,309
Net Assets$6,206,550

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $123,000Expenses 2017: $52,568Net Income 2017: $70,4322017Revenue 2018: $444,880Expenses 2018: $478,681Net Income 2018: -$33,8012018Revenue 2019: $798,353Expenses 2019: $335,697Net Income 2019: $462,6562019Revenue 2020: $1,173,061Expenses 2020: $617,339Net Income 2020: $555,7222020Revenue 2021: $1,525,905Expenses 2021: $937,228Net Income 2021: $588,6772021Revenue 2022: $2,615,175Expenses 2022: $1,498,660Net Income 2022: $1,116,5152022Revenue 2023: $2,437,047Expenses 2023: $1,909,714Net Income 2023: $527,3332023Revenue 2024: $5,056,122Expenses 2024: $2,097,269Net Income 2024: $2,958,8532024

Highlighted filing

2024

Revenue$5,056,122
Expenses$2,097,269
Net Income$2,958,853

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 8, 2025
Return Version
2024v5.0
Gross Receipts
$6,488,441
Mission and Program Overview

Mission

We drive holistic family and community transformation through innovative programs and real estate investments in the Freedom Drive corridor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,453,717$2,589,046▲ $1,135,329
Land, Buildings, and Equipment, Net$3,288,212$2,192,155▼ $1,096,057
Accounts Receivable$154,461$1,668,242▲ $1,513,781
Prepaid Expenses and Deferred Charges$3,487$35,636▲ $32,149
Total Assets$6,580,244$8,797,859▲ $2,217,615
Other Assets Total$1,680,367$2,312,780▲ $632,413
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,301,557$1,882,937▼ $1,418,620
Other Liabilities-$579,140-
Deferred Revenue-$94,047-
Accounts Payable and Accrued Expenses$30,990$35,185▲ $4,195
Total Liabilities$3,332,547$2,591,309▼ $741,238
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,970,065$4,169,116▲ $1,199,051
Net Assets With Donor Restrictions$277,632$2,037,434▲ $1,759,802
Total Net Assets Fund Balance$3,247,697$6,206,550▲ $2,958,853
Total Liabilities and Net Assets / Fund Balance$6,580,244$8,797,859▲ $2,217,615

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,611,592$204,919$1,816,511
Leasehold Improvements$359,087$18,899$377,986
Land$187,500-$187,500
Equipment$33,976$26,804$60,780
Other Assets Org$300--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Hannah BeaversExecutive DiFT$146,856$146,856
Suzanne HuntDirectorPT$33,667$33,667

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,461,505
Program Service Revenue
$556,629
Investment Income
$-32,264
Other Revenue
$70,252
All Other Contributions
$3,861,999
Change in Net Assets
$2,958,853

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$25,000Cost
Clothing and Household Goods-$19,792Cost
Total Noncash Contributions1$44,792-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,056,122
Total Revenue per Audited Statements
$5,056,122
Total Revenue per Form 990
$5,056,122
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,049,929
Other Expenses$1,027,295
Total Fundraising Expense$143,947
Professional Fundraising Fees$20,045
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$549,816$77,539$77,536$704,891
Current Officers, Directors, Trustees, and Key Employees$140,808$19,857$19,858$180,523
Occupancy$147,277--$147,277
Other Employee Benefits$71,024$10,016$10,017$91,057
Depreciation Depletion$74,239--$74,239
Payroll Taxes$57,297$8,080$8,081$73,458
Other Expenses$73,380$41,931$4,579$73,380
All Other Expenses$63,814--$63,814
Interest$24,960$37,323-$62,283
Fees for Services Lobbying-$38,721-$38,721
Fees for Services Accounting-$34,082-$34,082
Office Expenses$16,914$14,246-$31,160
Fees for Services Other-$27,617-$27,617
Fees for Services Professional Fundraising--$20,045$20,045
Insurance$18,680--$18,680
Advertising--$3,831$3,831
Total Functional Expenses$1,643,910$309,412$143,947$2,097,269

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,097,269
Total Expenses per Audited Statements$2,097,269
Total Expenses per Form 990$2,097,269
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$20,045
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$579,140
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

Form 990 is prepared by an independent accounting firm and is reviewed by management and the board before filing.

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

The organization is diligent reviewing and updating disclosures from its officer, directors and key employees and maintains a list of potentially conflicted entities and individuals. Transactions can be matched to this list to identify any possible conflicts.

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

Annual performance and compensation review of the executive director is conducted by the executive committee of the board of directors.

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

Officer and key employee compensation is reviewed by the executive director.

Form 990, Page 6, Part VI, Line 19

No additional documents are available to the public.

Filing and Contact Details

Filer

Filer Name
Freedom Communities
EIN
82-2329303
Phone
7042189775
Address
3501 TUCKASEEGEE ROAD, CHARLOTTE, NC 28208

Signing Officer

Name
Hannah Beavers
Title
Executive Director
Phone
7042189775
Signed
2025-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hannah Beavers
Formed
2017
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
18
Volunteers
200

Preparer

Firm
DAVIES GOLDSTEIN & ASSOCIATES CPA'S
Address
PO BOX 156, MATTHEWS, NC 28106
Preparer
Jeffrey I Goldstein
Phone
7046840555
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IRS990/OtherExpensesGrp/Desc1ECONOMIC & COMMUNITY DEV
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IRS990/ProgSrvcAccomActy2Grp/Desc0EARLY EDUCATION: WE CENTER OUR PROGRAMMATIC WORK AROUND A TWO-GENERATION APPROACH COMBINING PARENT AND CHILD INTERVENTIONS TO BUILD FAMILY STRENGTH AND OPTIMAL CHILD DEVELOPMENT. WE PARTNER WITH MOTHERS IN OUR MOMS MOVING FORWARD PROGRAM, LINKING EACH MOTHER TO HOLISTIC RESOURCES TO SUPPORT THE EDUCATIONAL SUCCESS OF HER CHILD(REN). UPON LEARNING THAT THE CORRIDOR WAS A "CHILDCARE DESERT" FOR AGES 0-3, WE PARTNERED WITH A LOCAL LEADER AND PRESCHOOL PROVIDER RESPONSIBLE FOR GENERATING THE BEST READERS IN OUR NEIGHBORHOOD SCHOOLS TO EXPAND HER EXISTING CENTER ON-SITE AT OUR TUCK OPPORTUNITY HUB. THE CENTER OPENED IN JANUARY OF 2022 WITH SPACE FOR 77 CHILDREN.
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IRS990/ProgSrvcAccomActy3Grp/Desc0HOUSING & ECONOMIC DEVELOPMENT: WE ARE PLACE-BASED, INTENTIONALLY LIMITING OUR GEOGRAPHIC SERVICE AREA TO GO DEEP AND WORK HOLISTICALLY WITH FAMILIES. WITH A TAGLINE OF "FAMILY-CENTERED COMMUNITY TRANSFORMATION", WE INVEST SIMULTANEOUSLY IN FAMILIES AND IN INFRASTRUCTURE SO THAT AS FAMILIES TRANSFORM, THEIR COMMUNITY DOES TOO. BEYOND MMF, WE CONTINUE TO INVEST IN THE DEVELOPMENT OF THE FREEDOM DRIVE CORRIDOR TO CREATE AN ENVIRONMENT IN WHICH ALL FAMILIES CAN THRIVE. WE HAVE LEVERAGED CROSS-SECTOR PARTNERSHIPS TO CREATE AFFORDABLE RENTAL AND HOMEOWNERSHIP OPPORTUNITIES. IN AUGUST 2024, WE LAUNCHED THE FREEDOM BUSINESS COLLECTIVE, A SMALL BUSINESS HUB PROVIDING AFFORDABLE OFFICE SPACE, NETWORKING EVENTS, AND EDUCATION/TRAINING TO SMALL BUSINESS OWNERS ON CHARLOTTE'S WEST SIDE.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0FREEDOM COMMUNITIES ENGAGED IN LIMITED DIRECT LOBBYING DURING THE YEAR TO EDUCATE NORTH CAROLINA POLICYMAKERS ON THE IMPACT OF BENEFITS CLIFFS THAT PREVENT WORKING FAMILIES FROM ACHIEVING FINANCIAL STABILITY AND UPWARD MOBILITY. LOBBYING ACTIVITY CONSISTED OF CONTRACTED SERVICES WITH A REGISTERED LOBBYING FIRM, MOORE & VAN ALLEN, TO PROVIDE TECHNICAL INFORMATION AND ANALYSIS TO MEMBERS AND STAFF OF THE NORTH CAROLINA GENERAL ASSEMBLY. NO GRASSROOTS LOBBYING EXPENDITURES WERE MADE. ALL LOBBYING EXPENDITURES REPRESENTED LESS THAN 2% OF THE ORGANIZATION'S TOTAL EXEMPT PURPOSE EXPENDITURES FOR THE YEAR, WELL BELOW THE THRESHOLDS PERMITTED UNDER SECTION 501(H).
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART II-B, LINE 1
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVEST IN HCR-FC MARLBOROUGH WOODS
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CONSTRUCTION IN PROGRESS
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