The Free State Foundation Inc is located in Potomac, MD. The organization was established in 2007. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Free State Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Free State 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 12/2021, Free State Foundation Inc generated $748.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PRIMARY PURPOSE IS TO PROMOTE, THROUGH RESEARCH AND EDUCATIONAL ACTIVITIES,UNDERSTANDING OF FREE MARKET, LIMITED GOVERNMENT, AND RULE OF LAW PRINCIPLES AT THE FEDERAL LEVEL AND IN MARYLAND. THE FOUNDATION FOCUSES ON EDUCATING POLICYMAKERS, OPINION LEADERS, THE PRESS, AND GENERAL PUBLIC CONCERNING THE NEED TO ELIMINATE UNNECESSARY AND COUNTERPRODUCTIVE REGULATORY MANDATES, ESPECIALLY THOSE APPLICABLE TO THE COMMUNICATIONS AND OTHER HIGH-TECH INDUSTRIES, AND ON REDUCING OVERLY BURDENSOME TAXES, PROTECTING INDIVIDUAL RIGHTS, ECONOMIC LIBERTY, AND PROPERTY RIGHTS, AND MAKING GOVERNMENT MORE EFFECTIVE, EFFICIENT, AND ACCOUNTABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNICATIONS LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT, THE FOUNDATION'S LARGEST, IS TO REFORM COMMUNICATIONS AND INTERNET LAW AND POLICY TO CONFORM TO THE DYNAMIC TECHNOLOGICAL AND COMPETITIVE MARKETPLACE REALITIES OF THE DIGITAL AGE. DURING 2021, THE FOUNDATION PUBLISHED 67 ARTICLES AND SCHOLARLY STUDIES AS PART OF ITS "PERSPECTIVES FROM FSF SCHOLARS" SERIES. IT PUBLISHED 186 SEPARATE BLOGS ON COMMUNICATIONS LAW AND POLICY TOPICS. FOUNDATION SCHOLARS WERE PUBLISHED AND QUOTED OFTEN IN MAJOR NATIONAL PUBLICATIONS AND TWO OR THREE TIMES WEEKLY IN LEADING TRADE PRESS PUBLICATIONS. FSF'S THIRTEENTH ANNUAL TELECOM POLICY CONFERENCE, HELD IN MARCH AND APRIL OF 2021 VIA ZOOM, DUE TO THE CONTINUING PANDEMIC, INCLUDED A DIVERSE GROUP OF DISTINGUISHED SPEAKERS FROM ACADEMIA, GOVERNMENT, PUBLIC INTEREST ORGANIZATIONS, AND INDUSTRY. DURING THIS PERIOD, WHEN IN-PERSON EVENTS WERE NO LONGER POSSIBLE, FOUNDATION HOSTED AND FSF SCHOLARS PARTICIPATED IN A NUMBER OF ADDITIONAL WELL-ATTENDED TELEFORUMS. ON OCTOBER 15, 2021, THE FOUNDATION HOSTED AN IN-PERSON FIFTEETH ANNIVERSARY CELEBRATION AT THE NATIONAL PRESS CLUB, WITH OVER 98 ATTENDEES. ALL FREE STATE FOUNDATION EVENTS WERE OPEN TO THE PUBLIC, WIDELY COVERED IN THE PRESS, AND VIDEOS AND TRANSCRIPTS OF THE PROCEEDINGS WERE PUBLISHED AND MADE AVAILABLE TO THE PUBLIC.
MARYLAND GOVERNMENT LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT IS TO CONDUCT RESEARCH AND EDUCATIONAL ACTIVITIES THAT PROMOTE POLICIES FOR MARYLAND THAT ARE CONSISTENT WITH FISCAL DISCIPLINE AND WITH A FREE MARKET, LESS REGULATORY DIRECTION. FSF ALSO PUBLISHED ARTICLES AND COMMENTARIES RELATING TO IMPROVING MARYLAND'S FISCAL, ECONOMIC, AND REGULATORY POLICIES, INCLUDING ITS TECHNOLOGY POLICIES, AND ALSO TO REFORMING ITS BUDGET PROCESSES. FREE STATE FOUNDATION SCHOLARS MAINTAIN A BLOG TO INCLUDE COMMENTS ON MARYLAND FISCAL, ECONOMIC, AND REGULATORY ISSUES. DURING 2021, SEVERAL SUBSTANTIAL BLOGS WERE PUBLISHED ON THESE MARYLAND POLICY ISSUES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Randolph J May President | OfficerTrustee | 60 | $344,234 |
Seth Cooper Dir Of Policy Studies | 40 | $201,756 | |
Andrew Long Senior Fellow | 32 | $147,083 | |
Laurie J May Secretary/treasurer | OfficerTrustee | 24 | $104,186 |
Thomas Tauke Board Member | Trustee | 1 | $0 |
William K Keane Board Member | Trustee | 1 | $0 |
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 | $722,141 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $722,141 |
Total Program Service Revenue | $0 |
Investment income | $25,711 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $279 |
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 | $748,131 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $448,420 |
Compensation of current officers, directors, key employees. | $63,442 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $423,036 |
Pension plan accruals and contributions | $64,307 |
Other employee benefits | $18,961 |
Payroll taxes | $52,392 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $9,840 |
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 | $1,416 |
Information technology | $9,502 |
Royalties | $0 |
Occupancy | $11,661 |
Travel | $8,398 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $2,550 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,791 |
Insurance | $2,606 |
All other expenses | $1,694 |
Total functional expenses | $1,106,782 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $41,363 |
Savings and temporary cash investments | $1,078,885 |
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 | $5,650 |
Investments—publicly traded securities | $0 |
Investments—other securities | $2,541,825 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $3,667,723 |
Accounts payable and accrued expenses | $80,897 |
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 | $0 |
Total liabilities | $80,897 |
Net assets without donor restrictions | $3,586,826 |
Net assets with donor restrictions | $0 |
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 | $3,667,723 |
Over the last fiscal year, we have identified 5 grants that The Free State Foundation Inc has recieved totaling $327,506.
Awarding Organization | Amount |
---|---|
Ncta-The Internet & Television Association Washington, DC PURPOSE: GENERAL SUPPORT 2021 | $160,000 |
Mywireless Org Washington, DC PURPOSE: GENERAL SUPPORT | $100,000 |
Motion Picture Association Inc Sherman Oaks, CA PURPOSE: General Support | $50,000 |
United States Telecom Association Washington, DC PURPOSE: PROGRAM SUPPORT | $17,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Organization Name | Assets | Revenue |
---|---|---|
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Association Of Schools And Programs Of Public Health Inc Washington, DC | $11,824,583 | $12,542,035 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Strategic Capacity Group Inc Mclean, VA | $1,824,045 | $10,738,430 |
The Management Center Washington, DC | $13,203,217 | $17,392,064 |
Association Of American Universities Washington, DC | $12,330,287 | $10,421,026 |