Civic Intelligence

Freenet Project Inc.

990 • Fiscal year 2023 • EIN 95-4864038

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 07, 2024

Organization Profilefreenet.org
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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

27th percentile

-10%

Higher net margin than 27% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

99th percentile

$132,000

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 65.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

30th percentile

-11%

Faster asset growth than 30% of similar nonprofits.

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

Revenue Growth

24th percentile

-21%

Faster revenue growth than 24% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$165,083

Down $21,301 (-11%) from 2022

Net Assets

Down

$165,083

Down $21,301 (-11%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin27th percentile

Revenue

Down

$203,050

Down $54,420 (-21%) from 2022

Expenses

Up

$224,351

Up $105,408 (+89%) from 2022

Net Income

Down

-$21,301

Down $159,828 (-115%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2023

Assets$165,083
Liabilities$0
Net Assets$165,083
Open 2023 Filing

Operations Trend

Revenue Growth24th 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

2023

Revenue$203,050
Expenses$224,351
Net Income-$21,301
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 7, 2024
Return Version
2023v5.1
Gross Receipts
$203,050
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.

Founded in 2001, The Freenet Project is a 501(c)(3) non-profit organization dedicated to the development and propagation of technologies for open and democratic information distribution over the Internet. We advocate for unrestricted exchange of intellectual, scientific, literary, social, artistic, creative, human rights, and cultural expressions, free from interference by state, private, or special interests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$186,384$165,083▼ $21,301
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$186,384$165,083▼ $21,301
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$186,384$165,083▼ $21,301
Total Net Assets Fund Balance$186,384$165,083▼ $21,301
Total Liabilities and Net Assets / Fund Balance$186,384$165,083▼ $21,301
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ian ClarkePresident & CEOFT$132,000$132,000

Board Members and Trustees

NameTitle
Michael GrubeDirector
Steven StarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$202,021
Program Service Revenue
$0
Investment Income
$1,029
Other Revenue
$0
All Other Contributions
$202,021
Change in Net Assets
$-21,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$141,407
Other Expenses$82,944
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$118,800$13,200-$132,000
Fees for Services Other$35,362--$35,362
Fees for Services Legal-$21,555-$21,555
Other Expenses-$12,344-$12,344
Fees for Services Accounting-$10,158-$10,158
Payroll Taxes$8,466$941-$9,407
Office Expenses-$2,693-$2,693
Travel$832--$832
Total Functional Expenses$163,460$60,891$0$224,351
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
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
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

“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

“The organization's governing documents, policies and financial statements were not made available to the public during the tax year. The organization's Form 1023 and 990 are available for public inspection upon request.”

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
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ian Clarke
Formed
2000
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
2
Employees
1
Volunteers
4

Preparer

Firm
For Purpose Law Group
Address
408 Nutmeg Street, San Diego, CA 92103
Preparer
May L Harris Esq
Phone
6197803839
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 is provided to the board of directors for their review and comment prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflicts 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/ExplanationTxt2The 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/ExplanationTxt3The organization's governing documents, policies and financial statements were not made available to the public during the tax year. The organization's Form 1023 and 990 are available for public inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0186384
IRS990/TotalAssetsEOYAmt0165083
IRS990/TotalAssetsGrp/BOYAmt0186384
IRS990/TotalAssetsGrp/EOYAmt0165083
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0202021
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060891
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0163460
IRS990/TotalFunctionalExpensesGrp/TotalAmt0224351
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0186384
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0165083
IRS990/TotalProgramServiceExpensesAmt0163460
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0132000
IRS990/TotalRevenueGrp/ExclusionAmt01029
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0203050
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0186384
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0165083
IRS990/TravelGrp/ProgramServicesAmt0832
IRS990/TravelGrp/TotalAmt0832
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03814 Brookview Road
IRS990/USAddress/CityNm0Austin
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078722
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0https://freenet.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ian Clarke
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-07
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/ReturnTs02024-11-07T14:28:11-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,083
Liabilities
$0
Net assets
$165,083
Revenue
$203,050
Expenses
$224,351
Net income
-$21,301
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
2023Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$2.03$2.24$0.21
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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