Free Enterprise Foundation Inc
- Assets
- $3.5m
- Revenue
- $356.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Moline, IL
- Founding
- 11/2002
- Data as of
- 06/2022
- EIN
- 36-4439179
Organization Overview
Free Enterprise Foundation Inc is located in Moline, IL. The organization was established in 2002. According to its NTEE Classification (O11) the organization is classified as: Single Organization Support, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Free Enterprise Foundation Inc 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 06/2022, Free Enterprise Foundation Inc generated $356.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.0% each year . All expenses for the organization totaled $567.4k during the year ending 06/2022. While expenses have increased by 43.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE JUNIOR ACHIEVEMENT OF THE HEARTLAND, INC. ENDOWMENT GIVING OPPORTUNITIES THAT WILL ADD STABILITY AND LONG-RANGE GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED GRANTS TO JUNIOR ACHIEVEMENT OF THE HEARTLAND, INC. TO SUPPORT OPERATIONS AND PROGRAMS TO EDUCATE AND INSPIRE CHILDREN TO VALUE FREE ENTERPRISE, BUSINESS AND ENCONOMICS TO IMPROVE THE QUALITY OF THEIR LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Watson Vice-Chair | OfficerTrustee | 1 | $0 |
James Dougal Nelson Secretary | OfficerTrustee | 1 | $0 |
Sheila Volrath Chair | OfficerTrustee | 1 | $0 |
Tom Victor Director | Trustee | 1 | $0 |
Lance Heuer Director | Trustee | 1 | $0 |
Ryan Weber Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,353 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,353 |
| Total Program Service Revenue | $0 |
| Investment income | $57,828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $81,924 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $548,145 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $15,587 |
| Total functional expenses | $567,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $388,935 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,084,979 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,473,914 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,610 |
| Total liabilities | $3,610 |
| Net assets without donor restrictions | $3,454,910 |
| Net assets with donor restrictions | $15,394 |
| 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 | $3,473,914 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Free Enterprise Foundation Inc has recieved totaling $5,375.
| Awarding Organization | Amount |
|---|---|
Dubuque Racing Association Ltd Dubuque, IA PURPOSE: ECONOMIC LITERACY INITIATIVE SUPPORTING DBQ COUNTY SCHOOLS | $5,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Great Circle Endowment Inc Saint James, MO | $55,460,013 | $5,249,746 |
Boy Scouts Of America St Louis, MO | $70,195,247 | -$2,206,788 |
Everythings Possible Foundation Inc Madison, WI | $97,820,322 | $8,221,937 |
Boy Scouts of America Trust XXX-XX-XXXX Milwaukee, WI | $0 | -$6,281 |
John E Alexander South Wood County Young Mens Christian Foundation In Wisconsin Rapids, WI | $16,428,359 | $1,283,786 |
Junior Achievement Of Northern Indiana Foundation Inc Fort Wayne, IN | $15,022,670 | $1,035,108 |
Springfield Boys Club Trust Fund For Springfield Boys Club Inc Springfield, MO | $14,210,234 | $1,815,014 |
Free Enterprise Foundation Inc Moline, IL | $3,473,914 | $356,105 |
Boy Scouts Of America Saint Joseph, MO | $1,619,942 | $197,703 |
Potter Childrens Foundation Inc Bowling Green, KY | $18,039,633 | $1,425,469 |
Childrens Charities Of Sheboygan County Inc Sheboygan Falls, WI | $1,943,835 | $33,966 |
Boy Scouts Of America Waukesha, WI | $2,819,970 | $105,242 |