Freedom First Enterprises
- Assets
- $498.6k
- Revenue
- $425.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Roanoke, VA
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-3904720
Organization Overview
Freedom First Enterprises is located in Roanoke, VA. The organization was established in 2017. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom First Enterprises 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, Freedom First Enterprises generated $425.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $297.9k 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
TO ASSIST LOW AND VERY LOW INCOME CONSUMERS WITH ALTERNATIVE FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDING TO ROANOKE CITY SCHOOL SYSTEM FOR THE CONSTRUCTION AND OUTFITTING OF A PERMANENT CLINICAL SPACE, PRIVATE MEETING AND COUNSELING SPACE AND PROGRAMMATIC SPACE IMBEDDED WITHIN FALLON PARK ELEMENTARY SCHOOL LOCATED IN ROANOKE, VA. THE SPACE WILL BE USED IN PART TO RUN A FINANCIAL EMPOWERMENT PROGRAM WHERE STUDENTS' FAMILY AND MEMBERS OF THE COMMUNITY RECEIVE FREE, ONE-ON-ONE PROFESSIONAL COUNSELING ASSISTANCE WHICH ADDRESSES MONEY MANAGEMENT, BUDGETING, REDUCING DEBT, ESTABLISHING AND IMPROVING CREDIT, CONNECTING TO SAFE AND AFFORDABLE HOUSING, BUILDING ASSETS AND SAVINGS, ADDRESSING TRANSPORTATION AND REFERRALS TO OTHER SERVICE PROVIDERS AND ORGANIZATIONS.
TO PROVIDE FUNDING TO FREEDOM FIRST CREDIT UNION (FFCU) FOR CONTRIBUTIONS TO EIGHT NON-PROFIT ORGANIZATIONS IN FFCU'S SERVICE AREA THAT PROMOTE COMMUNITY AND HOUSEHOLD ECONOMY SUCH AS POVERTY REDUCTION, AFFORDABLE HOUSING, AND FINANCIAL EDUCATION, HEALTH AND HUMAN SERVICES, AND ARTS AND CULTURE. FUNDING WAS ALSO PROVIDED TO AWARD COLLEGE SCHOLARSHIPS TO AREA HIGH SCHOOL STUDENTS.
TO PROVIDE FUNDING TO BLUE RIDGE PARTNERSHIP FOR HEALTH SCIENCES CAREERS. THE INITIATIVE'S GOAL IS TO GIVE STUDENTS IN THE ROANOKE AND NEW RIVER VALLEYS AND SURROUNDING COUNTIES THE OPPORTUNITY TO ACQUIRE STACKABLE CREDENTIALS, STARTING IN HIGH SCHOOL, AND CONTINUING THROUGH COMMUNITY COLLEGE OR A FOUR-YEAR INSTITUTION. THE INTENTION IS TO EXPAND THE PROGRAM INTO A STANDARDIZED CURRICULUM THROUGHOUT THE COMMONWEALTH OF VIRGINIA. THE CLAUDE MOORE FOUNDATION WILL CULTIVATED A STATEWIDE HEALTH SCIENCES PIPELINE TO EFFECTIVELY TO MEET THE HIGH DEMAND FOR HEALTH SCIENCES PROFESSIONALS ACROSS VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Butterfield Secretary | OfficerTrustee | 2 | $0 |
Paul Phillips Pres./board Chairman | OfficerTrustee | 2 | $0 |
Wayne Strickland Treasurer | OfficerTrustee | 2 | $0 |
Dave Prosser Vp/exec. Director | OfficerTrustee | 2 | $0 |
Annette Patterson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $173,522 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $251,495 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $425,017 |
| Total Program Service Revenue | $0 |
| Investment income | $105 |
| 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 | $425,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $286,882 |
| 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 | $5,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $806 |
| 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 | $783 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $297,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,973 |
| Savings and temporary cash investments | $447,495 |
| Pledges and grants receivable | $7,174 |
| 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 | $978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $498,620 |
| 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 | $7,800 |
| Total liabilities | $7,800 |
| Net assets without donor restrictions | $60,652 |
| Net assets with donor restrictions | $430,168 |
| 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 | $498,620 |
Grants Awarded
Over the last fiscal year, Freedom First Enterprises has awarded $276,467 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ROANOKE CITY PURPOSE: TUITION AND RESOURCES | $151,282 |
VIRGINIA WESTERN COMMUNITY COLLEGE PURPOSE: DUAL ENROLLMENT TUITION | $49,557 |
FREEDOM FIRST CREDIT UNION PURPOSE: SCHOLARSHIPS | $35,000 |
FRANKLIN COUNTY PUBLIC SCHOOLS PURPOSE: TUITION AND RESOURCES | $14,894 |
ROANOKE COUNTY PUBLIC SCHOOLS PURPOSE: TUITION AND RESOURCES | $13,266 |
SALEM CITY SCHOOLS PURPOSE: DUAL ENROLLMENT TUITION | $12,468 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freedom First Enterprises has recieved totaling $100,500.
| Awarding Organization | Amount |
|---|---|
Delta Dental Of Virginia Foundation Inc Roanoke, VA PURPOSE: FALLON PARK PROJECT FOR HEALTH & WELLNESS CLINIC | $100,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Union Greeneville, TN | $557,161,210 | $15,832,085 |
Humentum Washington, DC | $3,896,322 | $9,731,950 |
National Foundation For Credit Counseling Inc Washington, DC | $8,192,491 | $8,760,104 |
Consumer Education Services Inc Raleigh, NC | $23,360,630 | $7,529,671 |
Housing Consultants Group Greensboro, NC | $1,106,215 | $2,683,425 |
Motley Fool Foundation Alexandria, VA | $13,206,539 | $15,812,396 |
Consumer Credit Counseling Service Of Maryland And Delaware Inc Columbia, MD | $10,074,197 | $2,872,253 |
Usa Cares Inc Louisville, KY | $1,622,546 | $2,426,137 |
Maryland Capital Enterprises Inc Salisbury, MD | $12,872,521 | $4,572,736 |
Cash Campaign Of Maryland Inc Baltimore, MD | $1,565,207 | $2,174,273 |
Financial Pathways Of The Piedmont Inc Winstonsalem, NC | $1,642,751 | $1,849,365 |
Consumer Credit Counseling Service Of Western North Carolina Inc Asheville, NC | $2,015,987 | $1,072,793 |