Freedom Fund
- Assets
- $45.9m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Brooklyn, NY
- Founding
- 03/2014
- Data as of
- 12/2022
- EIN
- 30-0805768
Organization Overview
Freedom Fund is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Freedom Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Freedom Fund generated $13.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $19.6m during the year ending 12/2022. While expenses have increased by 9.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Freedom Fund has awarded 96 individual grants totaling $11,571,623. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOTSPOTS PROJECTS: THE FREEDOM FUND HAS SELECTED KEY GEOGRAPHIC AREAS KNOWN TO HAVE A HIGH INCIDENCE OF MODERN SLAVERY, WHERE OUR INTERVENTIONS ARE MOST LIKELY TO RESULT IN A MEASURABLE REDUCTION IN SLAVERY. IN OUR HOTSPOT PROJECTS, WE INVEST IN A RANGE OF COMMUNITY-BASED ORGANIZATIONS TO ENABLE THEM TO PROTECT THOSE AT RISK OF SLAVERY, RESCUE AND REHABILITATE THOSE ENSLAVED, AND PROSECUTE THOSE RESPONSIBLE. THESE HOTSPOT PROJECTS ENCOURAGE COOPERATION BETWEEN LOCAL GRASSROOTS ORGANIZATIONS AND ENSURE AN INTEGRATED, CROSS-DISCIPLINARY APPROACH.
QUALITY AND LEARNING
MOVEMENT BUILDING: ORGANIZATIONS AROUND THE WORLD ARE DOING EXCEPTIONAL WORK TO ERADICATE SLAVERY BUT, TOO OFTEN, THESE EFFORTS ARE FRAGMENTED AND UNDERFUNDED. WE AIM TO BUILD A GLOBAL COMMUNITY OF ACTIVISTS, EXPERTS AND DONORS BY PROVIDING THE PLATFORM, KNOWLEDGE, AND TOOLS FOR THEM TO CONNECT AND WORK TOGETHER MORE EFFECTIVELY OVER A SUSTAINED PERIOD. WE USE OUR GLOBAL LEADERSHIP ROLE, AND THE CREDIBILITY CONFERRED BY THE BACKING OF OUR FOUNDERS, TO BRING ACTORS TOGETHER AND ENCOURAGE GREATER COLLABORATION AND COORDINATION.
GLOBAL INITIATIVES: THE FREEDOM FUND'S CORPORATE ACCOUNTABILITY INITIATIVE INVESTS IN ACCOUNTABILITY-BASED PROGRAMS DESIGNED TO SHIFT CORPORATE BEHAVIOUR AS A DRIVER OF FORCED LABOUR ACROSS ALL SECTORS OF THE GLOBAL ECONOMY. OUR GOAL IS TO INCENTIVISE BROADER SYSTEMS CHANGE BY INCREASING THE PRESSURE ON BUSINESSES TO ADDRESS AND REMEDY FORCED LABOUR IN THEIR SUPPLY CHAINS. THIS WORK IS FOCUSED ON INCENTIVISING COMPANIES TO ACT, THROUGH ACCOUNTABILITY ACTIONS AND CAMPAIGNS, SUPPORTING ACCESS TO REMEDY, AND BUILDING A STRONGER AND MORE CONNECTED GLOBAL CORPORATE ACCOUNTABILITY MOVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Mccormick Chair | OfficerTrustee | 1 | $0 |
Felicity Gooding Treasurer | OfficerTrustee | 0.5 | $0 |
Natasha Dolby Trustee | Trustee | 0.5 | $0 |
Molly Gochman Trustee | Trustee | 0.5 | $0 |
Grace Forrest Trustee | Trustee | 0.5 | $0 |
Philippe Sion Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Geneva Global Program Management Services | 12/30/18 | $1,287,917 |
Trinet Payroll Services | 12/30/18 | $595,806 |
Dilhan Attanayake Web Design And Maintenance | 12/30/18 | $131,214 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,051,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,321,009 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,372,394 |
| Total Program Service Revenue | $0 |
| Investment income | $99,895 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,472,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,391,077 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,276,817 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $682,600 |
| Compensation of current officers, directors, key employees. | $149,835 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,057,163 |
| Pension plan accruals and contributions | $267,686 |
| Other employee benefits | $139,397 |
| Payroll taxes | $399,139 |
| Fees for services: Management | $4,337,876 |
| Fees for services: Legal | $32,195 |
| Fees for services: Accounting | $38,881 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $283,568 |
| Advertising and promotion | $150,023 |
| Office expenses | $150,127 |
| Information technology | $179,340 |
| Royalties | $0 |
| Occupancy | $268,684 |
| Travel | $628,949 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $250,471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,831 |
| Insurance | $66,848 |
| All other expenses | $889,589 |
| Total functional expenses | $19,583,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,888,979 |
| Savings and temporary cash investments | $20,844,775 |
| Pledges and grants receivable | $1,318,846 |
| Accounts receivable, net | $66,723 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,980 |
| Net Land, buildings, and equipment | $48,239 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $655,072 |
| Total assets | $45,895,614 |
| Accounts payable and accrued expenses | $1,075,979 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $220,919 |
| Total liabilities | $1,296,898 |
| Net assets without donor restrictions | $40,867,627 |
| Net assets with donor restrictions | $3,731,089 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $45,895,614 |
Grants Awarded
Over the last fiscal year, Freedom Fund has awarded $2,386,077 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
CORPORATE ACCOUNTABILITY LAB PURPOSE: END MODERN SLAVERY | $149,845 |
FREE THE SLAVES PURPOSE: END MODERN SLAVERY | $115,000 |
POLARIS PROJECT PURPOSE: END MODERN SLAVERY | $225,000 |
HUMAN TRAFFICKING LEGAL CENTER PURPOSE: END MODERN SLAVERY | $220,000 |
POPULATION COUNCIL INC PURPOSE: END MODERN SLAVERY | $337,555 |
SURVIVOR ALLIANCE PURPOSE: END MODERN SLAVERY | $87,500 |