Nonprofit · EIN 36-4439179
FREE ENTERPRISE FOUNDATION INC
Tax-exempt · MOLINE, IL 61265
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $116,409 | $863,327 | -$746,918 | $4,069,080 | $105,133 | $3,963,947 |
| June 30, 2024 | 990 | $187,175 | $331,439 | -$144,264 | $4,675,496 | $322,581 | $4,352,915 |
| June 30, 2023 | 990 | $429,221 | $122,599 | $306,622 | $4,038,701 | $0 | $4,038,701 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $5,214
- Program service revenue
- $0
- Investment income
- $111,195
- Net gain from sales of assets
- $13,644
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $855,327
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $5,000
- Program services (functional)
- $858,327
- Management and general (functional)
- $5,000
Balance sheet and other
- Total assets, start of year
- $4,675,496
- Total assets, end of year
- $4,069,080
- Total liabilities, end of year
- $105,133
- Net assets, end of year
- $3,963,947
- Publicly traded securities
- $3,808,795
- Net assets without donor restrictions
- $3,803,947
- Net assets with donor restrictions
- $160,000
- Gross receipts
- $116,409
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JIM WATSON | VICE-CHAIR Trustee or director, Officer | 1 | $0 |
| JAMES DOUGAL NELSON | SECRETARY Trustee or director, Officer | 1 | $0 |
| SHEILA VOLRATH | CHAIR Trustee or director, Officer | 1 | $0 |
| TOM VICTOR | DIRECTOR Trustee or director | 1 | $0 |
| LANCE HEUER | DIRECTOR Trustee or director | 1 | $0 |
| RYAN WEBER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JAMES DOUGAL NELSON | SECETARY Trustee or director, Officer | 1 | $0 | $137,723 | $5,000 |
| JIM WATSON | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SHEILA VOLRATH | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TOM VICTOR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LANCE HEUER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RYAN WEBER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JAMES DOUGAL NELSON | SECRETARY Trustee or director, Officer | 1 | $0 | $128,939 | $5,205 |
| JIM WATSON | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| SHEILA VOLRATH | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TOM VICTOR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| LANCE HEUER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RYAN WEBER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 800 12TH AVE, MOLINE, IL 61265-2956
- In care of
- % JAMES A NEPPLE
- Principal officer (990 for 2024)
- LISA HEGLAND, 800 12TH AVENUE, MOLINE, IL 61265
- Signed the 990
- LISA HEGLAND, PRESIDENT
- Phone
- (309) 736-1630
- Return prepared by
- ODONI PARTNERS LLC
Mission
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.
Program accomplishments
- 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.Expenses $858,327 · grants $855,327
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-4439179
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2002
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O115)
- Assets (IRS master file)
- $4,069,080
- Income (IRS master file)
- $116,409
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $116,409 | $863,327 | $4,069,080 | IRS |
| 990 | June 2024 | $187,175 | $331,439 | $4,675,496 | IRS |
| 990 | June 2023 | $429,221 | $122,599 | $4,038,701 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-4439179).
Questions about FREE ENTERPRISE FOUNDATION INC
- What is the EIN of FREE ENTERPRISE FOUNDATION INC?
- The employer identification number (EIN) of FREE ENTERPRISE FOUNDATION INC is 36-4439179.
- Is FREE ENTERPRISE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to FREE ENTERPRISE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does FREE ENTERPRISE FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FREE ENTERPRISE FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FREE ENTERPRISE FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FREE ENTERPRISE FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names LISA HEGLAND.
- Who are the officers and directors of FREE ENTERPRISE FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does FREE ENTERPRISE FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $116,409, expenses of $863,327 and total assets of $4,069,080 at year end.
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