Civic Intelligence

Freenet Project Inc.

990 • Fiscal year 2022 • EIN 95-4864038

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 04, 2024

Organization ProfileN/A
3814 Brookview RoadAustin, TX 78722

(512) 524-7255

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

90th percentile

54%

Higher net margin than 90% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

57th percentile

5.5%

Faster asset growth than 57% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Revenue Growth

65th percentile

31%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$186,384

Up $18,987 (+11%) from 2020

Net Assets

Up

$186,384

Up $18,987 (+11%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin90th percentile

Revenue

Up

$257,470

Up $107,125 (+71%) from 2020

Expenses

Up

$118,943

Up $98,327 (+477%) from 2020

Net Income

Up

$138,527

Up $8,798 (+6.8%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$200K$150K$100K$50K$0Assets 2011: $3,726Liabilities 2011: $02011Assets 2012: $7,305Liabilities 2012: $02012Assets 2013: $14,127Liabilities 2013: $02013Assets 2014: $9,484Liabilities 2014: $0Net Assets 2014: $9,4842014Assets 2015: $2,167Liabilities 2015: $0Net Assets 2015: $2,1672015Assets 2016: $31,454Liabilities 2016: $0Net Assets 2016: $31,4542016Assets 2017: $26,561Liabilities 2017: $0Net Assets 2017: $26,5612017Assets 2018: $37,828Liabilities 2018: $0Net Assets 2018: $37,8282018Assets 2019: $37,668Liabilities 2019: $0Net Assets 2019: $37,6682019Assets 2020: $167,397Liabilities 2020: $0Net Assets 2020: $167,3972020Assets 2022: $186,384Liabilities 2022: $0Net Assets 2022: $186,3842022Assets 2023: $165,083Liabilities 2023: $0Net Assets 2023: $165,0832023Assets 2024: $144,500Liabilities 2024: $0Net Assets 2024: $144,5002024Assets 2025: $131,694Liabilities 2025: $0Net Assets 2025: $131,6942025

Highlighted filing

2022

Assets$186,384
Liabilities$0
Net Assets$186,384
Open 2022 Filing

Operations Trend

Revenue Growth65th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $9,845Expenses 2011: $20,150Net Income 2011: -$10,3052011Revenue 2012: $15,293Expenses 2012: $11,714Net Income 2012: $3,5792012Revenue 2013: $18,258Expenses 2013: $11,436Net Income 2013: $6,8222013Revenue 2014: $6,181Expenses 2014: $10,824Net Income 2014: -$4,6432014Revenue 2015: $6,331Expenses 2015: $13,648Net Income 2015: -$7,3172015Revenue 2016: $32,423Expenses 2016: $3,136Net Income 2016: $29,2872016Revenue 2017: $1,811Expenses 2017: $6,704Net Income 2017: -$4,8932017Revenue 2018: $19,335Expenses 2018: $8,068Net Income 2018: $11,2672018Revenue 2019: $1,083Expenses 2019: $1,243Net Income 2019: -$1602019Revenue 2020: $150,345Expenses 2020: $20,616Net Income 2020: $129,7292020Revenue 2022: $257,470Expenses 2022: $118,943Net Income 2022: $138,5272022Revenue 2023: $203,050Expenses 2023: $224,351Net Income 2023: -$21,3012023Revenue 2024: $202,567Expenses 2024: $223,150Net Income 2024: -$20,5832024Revenue 2025: $201,889Expenses 2025: $214,695Net Income 2025: -$12,8062025

Highlighted filing

2022

Revenue$257,470
Expenses$118,943
Net Income$138,527
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 4, 2024
Return Version
2022v5.0
Gross Receipts
$257,470
Mission and Program Overview

Mission

The Freenet Project develops and maintains free, open-source software that enables decentralized communication and information sharing, with the goal of promoting privacy, freedom of expression, and access to information for the public benefit.

Freenet is a peer-to-peer platform for censorship-resistant and privacy-respecting publishing and communication.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$47,857$186,384▲ $138,527
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$47,857$186,384▲ $138,527
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$47,857$186,384▲ $138,527
Total Net Assets Fund Balance$47,857$186,384▲ $138,527
Total Liabilities and Net Assets / Fund Balance$47,857$186,384▲ $138,527
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Ian ClarkePresident & CEO
Steven StarrSecretary
Ali MeierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$252,470
Program Service Revenue
$5,000
Investment Income
$0
Other Revenue
$0
All Other Contributions
$252,470
Change in Net Assets
$138,527
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$118,943
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$111,000--$111,000
Fees for Services Legal-$7,000-$7,000
Office Expenses-$943-$943
Total Functional Expenses$111,000$7,943$0$118,943
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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 A, Line 4

“Freenet Project converted from a Californina Public Benefit Corporation into a Texas Nonprofit Corporation, maintaining the same Federal Employer Identification Number as the original Corporation pursuant to Rev. Rul. 73-526, 1973-2 C.B. 404. The Board of Directors followed Revenue Procedure 2018-15 to ensure the tax-exempt status under Section 501(c)(3) of the Internal Revenue Code of the original California corporation would survive the corporate restructuring as the surviving Texas Nonprofit Corporation is (1)A domestic business entity; (2)Classified as a corporation under Section 301.7701-2(b)(1) or (2) of the Treasury Regulations; and (3)Will be carrying out the same purposes as the exempt organization that engaged in the corporate restructuring.”

Form 990, Part VI, Section B, Line 11B

“A copy of the Form 990 is provided to the board of directors for their review and comment prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Conflicts of interest are required to be disclosed to the Corporation's board of directors. Any proposed transaction in which a conflict may be present is determined by disinterested members of the board.”

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

“The compensation of the executive director has been determined using fair market data, and has been set by a disinterested majority of the board of directors.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Freenet Project Inc
EIN
95-4864038
Phone
5125247255
Address
3814 Brookview Road, Austin, TX 78722

Signing Officer

Name
Ian Clarke
Title
President & CEO
Signed
2024-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ian Clarke
Formed
2000
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
0
Employees
1

Preparer

Firm
For Purpose Law Group
Address
408 Nutmeg Street, San Diego, CA 92103
Preparer
May L Harris Esq
Phone
6197803839
Raw XML Appendix332 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Freenet Project converted from a Californina Public Benefit Corporation into a Texas Nonprofit Corporation, maintaining the same Federal Employer Identification Number as the original Corporation pursuant to Rev. Rul. 73-526, 1973-2 C.B. 404. The Board of Directors followed Revenue Procedure 2018-15 to ensure the tax-exempt status under Section 501(c)(3) of the Internal Revenue Code of the original California corporation would survive the corporate restructuring as the surviving Texas Nonprofit Corporation is (1)A domestic business entity; (2)Classified as a corporation under Section 301.7701-2(b)(1) or (2) of the Treasury Regulations; and (3)Will be carrying out the same purposes as the exempt organization that engaged in the corporate restructuring.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the Form 990 is provided to the board of directors for their review and comment prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflicts of interest are required to be disclosed to the Corporation's board of directors. Any proposed transaction in which a conflict may be present is determined by disinterested members of the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The compensation of the executive director has been determined using fair market data, and has been set by a disinterested majority of the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07943
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0111000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0118943
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt047857
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0186384
IRS990/TotalProgramServiceExpensesAmt0111000
IRS990/TotalProgramServiceRevenueAmt05000
IRS990/TotalRevenueGrp/ExclusionAmt05000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0257470
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt047857
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0186384
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt03814 Brookview Road
IRS990/USAddress/CityNm0Austin
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078722
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ian Clarke
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Freenet Project Inc
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0954864038
ReturnHeader/Filer/PhoneNum05125247255
ReturnHeader/Filer/USAddress/AddressLine1Txt03814 Brookview Road
ReturnHeader/Filer/USAddress/CityNm0Austin
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078722
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0452079664
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0For Purpose Law Group
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0408 Nutmeg Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0San Diego
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092103
ReturnHeader/PreparerPersonGrp/PhoneNum06197803839
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0May L Harris Esq
ReturnHeader/ReturnTs02024-04-04T14:57:16-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Ian
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Clarke
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$186,384
Liabilities
$0
Net assets
$186,384
Revenue
$257,470
Expenses
$118,943
Net income
$138,527
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.32$0.00$1.32$2.02$2.15$0.13
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.45$0.00$1.45$2.03$2.23$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$0.00$1.65$2.03$2.24$0.21
2022Detailed filing. Detailed filing data is available for this year.$1.86$0.00$1.86$2.57$1.19$1.39
2020Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$1.50$0.21$1.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.00$0.38$0.01$0.01$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.00$0.38$0.19$0.08$0.11
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.00$0.27$0.02$0.07$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$0.32$0.03$0.29
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.06$0.14$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.06$0.11$0.05
2013Summary only. Only limited summary data is available for this year.$0.14$0.00$0.18$0.11$0.07
2012Summary only. Only limited summary data is available for this year.$0.07$0.00$0.15$0.12$0.04
2011Summary only. Only limited summary data is available for this year.$0.04$0.00$0.10$0.20$0.10