Civic Intelligence

Freedom Equity Inc

EIN 88-2726911 • 501(c)3 • Columbus, OH

Profile

Community development financial institution that is an alternate lender for black-owned small businesses in central ohio to improve the accessibility and affordability of capital.

341 South 3rd St 301Columbus, OH 43215

www.freedomequity.org

Siviq Scores

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

Liabilities / Assets

84th percentile

0.55x

Higher debt load relative to assets than 84% of similar nonprofits.

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

Liabilities / Revenue

85th percentile

0.72x

Higher debt load relative to revenue than 85% of similar nonprofits.

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

Net Margin

89th percentile

48%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $1M-$5M 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

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$3,632,489

Up $1,192,237 (+49%) from 2023

Liabilities

Down

$1,998,944

Down $130,800 (-6.1%) from 2023

Net Assets

Up

$1,633,545

Up $1,323,037 (+426%) from 2023

Operations
Liabilities / Revenue85th percentileNet Margin89th percentile

Revenue

Up

$2,770,153

Up $1,715,237 (+163%) from 2023

Expenses

Up

$1,447,116

Up $535,058 (+59%) from 2023

Net Income

Up

$1,323,037

Up $1,180,179 (+826%) from 2023

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2022: $167,650Liabilities 2022: $0Net Assets 2022: $167,6502022Assets 2023: $2,440,252Liabilities 2023: $2,129,744Net Assets 2023: $310,5082023Assets 2024: $3,632,489Liabilities 2024: $1,998,944Net Assets 2024: $1,633,5452024

Highlighted filing

2024

Assets$3,632,489
Liabilities$1,998,944
Net Assets$1,633,545
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2022: $335,686Expenses 2022: $363,311Net Income 2022: -$27,6252022Revenue 2023: $1,054,916Expenses 2023: $912,058Net Income 2023: $142,8582023Revenue 2024: $2,770,153Expenses 2024: $1,447,116Net Income 2024: $1,323,0372024

Highlighted filing

2024

Revenue$2,770,153
Expenses$1,447,116
Net Income$1,323,037
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,632,489
Liabilities
$1,998,944
Net assets
$1,633,545
Revenue
$2,770,153
Expenses
$1,447,116
Net income
$1,323,037
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.63$2.00$1.63$2.77$1.45$1.32
2023Detailed filing. Detailed filing data is available for this year.$2.44$2.13$0.31$1.05$0.91$0.14
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.34$0.36$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$2,780,553
Mission and Program Overview

Mission

Community development financial institution that is an alternate lender for black-owned small businesses in Central Ohio to improve the accessibility and affordability of capital.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,588,803$1,925,925▲ $337,122
Accounts Receivable$738,702$1,527,680▲ $788,978
Savings and Temporary Cash Investments-$100,000-
Land, Buildings, and Equipment, Net$28,481$31,647▲ $3,166
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,440,252$3,632,489▲ $1,192,237
Other Assets Total$84,266$47,237▼ $37,029
Liabilities
Deferred Revenue$1,526,718$1,427,177▼ $99,541
Unsecured Notes Loans Payable$500,000$500,000→ $0
Other Liabilities$83,664$47,237▼ $36,427
Accounts Payable and Accrued Expenses$19,362$24,530▲ $5,168
Total Liabilities$2,129,744$1,998,944▼ $130,800
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$98,008$1,383,545▲ $1,285,537
Net Assets With Donor Restrictions$212,500$250,000▲ $37,500
Total Net Assets Fund Balance$310,508$1,633,545▲ $1,323,037
Total Liabilities and Net Assets / Fund Balance$2,440,252$3,632,489▲ $1,192,237

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,920$80$25,000
Other Land Buildings$6,727$11,537$18,264
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer Averi FrostExecutive DirectorFT$144,672$144,672
Courtnee HawkinsDirectorFT$124,999$124,999
Aneeka BashirDirectorFT$106,724$106,724
Vonisha TurnerFoundation Mgr.FT$77,333$77,333
Jeremy SharperDirectorFT$77,307$77,307
Dejah BryantDirectorFT$72,117$72,117
Shanique WashingtonDirectorFT$20,973$20,973
Revenue and Support

Revenue Composition

Contributions and Grants
$2,732,168
Program Service Revenue
$0
Investment Income
$37,985
Other Revenue
$0
All Other Contributions
$2,732,168
Change in Net Assets
$1,323,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$744,613
Other Expenses$702,503
Total Fundraising Expense$101,857
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$520,094$97,518$32,506$650,118
Fees for Services Other$63,435$77,532-$140,967
Information Technology$44,434$80,709-$125,143
Payroll Taxes$37,788$56,707-$94,495
Occupancy$51,198$9,035-$60,233
Interest-$26,250-$26,250
Other Expenses$14,307$6,131$8,502$20,438
Travel$11,842$1,480$1,480$14,802
All Other Expenses$8,364$4,290-$12,654
Insurance$12,139--$12,139
Advertising$6,409$5,243-$11,652
Office Expenses$8,353$1,476-$9,829
Conferences and Meetings$5,971$746$746$7,463
Depreciation Depletion-$6,294-$6,294
Total Functional Expenses$956,625$388,634$101,857$1,447,116
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease$47,237
Governance and Compliance

Governance Checklist

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

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Freedom Equity Inc
EIN
88-2726911
Phone
6144847075
Address
341 South 3rd St 301, Columbus, OH 43215

Signing Officer

Name
Jennifer Averi Frost
Title
Executive Director
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Averi Frost
Formed
2022
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
0
Employees
10

Preparer

Firm
Barbour & Marino CPA Group Inc
Address
1287 Worthington Woods Blvd, Columbus, OH 43085
Preparer
Jonathan Barbour CPA
Phone
6147811777
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IRS990/PYContributionsGrantsAmt01031639
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt023277
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0403978
IRS990/PYRevenuesLessExpensesAmt0142858
IRS990/PYSalariesCompEmpBnftPaidAmt0493011
IRS990/PYTotalExpensesAmt0912058
IRS990/PYTotalProfFndrsngExpnsAmt015069
IRS990/PYTotalRevenueAmt01054916
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01323037
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02732168
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01018882
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0335600
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt04086650
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt032468
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt014797
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt043
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt047308
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt032468
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt014797
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt043
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.00000
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01018882
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0335600
IRS990ScheduleA/Total509Grp/TotalAmt04086650
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02764636
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01033679
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0335643
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04133958
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt024920
IRS990ScheduleD/BuildingsGrp/DepreciationAmt080
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt025000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06727
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011537
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018264
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt047237
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Operating Lease
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IRS990ScheduleD/TotalLiabilityAmt047237
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0956625
IRS990/TotalFunctionalExpensesGrp/TotalAmt01447116
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IRS990/TotalLiabilitiesGrp/EOYAmt01998944
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IRS990/TotalProgramServiceExpensesAmt0956625
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0624125
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt037985
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02770153
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02440252
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03632489
IRS990/TravelGrp/FundraisingAmt01480
IRS990/TravelGrp/ManagementAndGeneralAmt01480
IRS990/TravelGrp/ProgramServicesAmt011842
IRS990/TravelGrp/TotalAmt014802
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0500000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0500000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0341 South 3rd St 301
IRS990/USAddress/CityNm0Columbus
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd043215
IRS990/VotingMembersGoverningBodyCnt07

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