Nonprofit · EIN 74-2066841
FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC
Tax-exempt · LAKE JACKSON, TX 77566
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $734,831 | $853,493 | -$118,662 | $920,893 | $0 | $920,893 |
| December 31, 2023 | 990 | $769,045 | $847,329 | -$78,284 | $1,039,555 | $0 | $1,039,555 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $693,946
- Program service revenue
- $18,730
- Investment income
- $9,869
- Royalties
- $12,286
- Other revenue
- $12,286
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $146,000
- Salaries, compensation and benefits (total)
- $514,837
- Professional fundraising fees
- $0
- Accounting fees
- $2,735
- Occupancy
- $44,157
- Depreciation
- $1,194
- Program services (functional)
- $482,725
- Management and general (functional)
- $311,587
- Fundraising (functional)
- $59,181
Balance sheet and other
- Total assets, start of year
- $1,039,555
- Total assets, end of year
- $920,893
- Total liabilities, end of year
- $0
- Net assets, end of year
- $920,893
- Land, buildings and equipment
- $27,329
- Net assets without donor restrictions
- $920,893
- Gross receipts
- $734,831
- Employees
- 5
- Volunteers
- 5
- Year formed
- 1976
- State of legal domicile
- TX
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DANIEL MCADAMS | SPECIAL PROJECTS DIRECTOR Highest-paid employee | 50 | $146,000 |
| CAROL PAUL | PRESIDENT & SEC Trustee or director, Officer | 3 | $0 |
| RONALD W PAUL | VP/TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DANIEL MCADAMS | SPECIAL PROJECTS DIRECTOR Highest-paid employee | 50 | $146,000 |
| CAROL PAUL | PRESIDENT & SEC Trustee or director, Officer | 3 | $0 |
| RONALD W PAUL | VP/TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1776, LAKE JACKSON, TX 77566-1776
- Principal officer (990 for 2024)
- RONALD W PAUL, PO Box 1776, Lake Jackson, TX 77566
- Signed the 990
- Carol W Paul, President & Secretary
- Phone
- (979) 265-3034
- Return prepared by
- PAUL PHIPPS & CO PLLC
Mission
The Foundation for Rational Economics & Education, Inc. (F.R.E.E.) is a non-partisan organization dedicated to public education on the principles of free-market economics, sound money & limited government.
Program accomplishments
- CONTINUED EMPHASIS ON THE EDUCATION OF ECONOMIC & SOCIAL ISSUES THROUGH PUBLICATIONS AND BROADCASTS.Expenses $482,725 · revenue $724,962
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-2066841
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1980
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A32Z)
- Assets (IRS master file)
- $920,893
- Income (IRS master file)
- $734,831
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $734,831 | $853,493 | $920,893 | XML |
| 990 | December 2023 | $769,045 | $847,329 | $1,039,555 | XML |
| 990 | December 2022 | $643,067 | $808,630 | $1,117,838 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 74-2066841).
Questions about FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC
- What is the EIN of FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC?
- The employer identification number (EIN) of FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC is 74-2066841.
- Is FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
- Are donations to FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION 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 FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC?
- The 990 for the year ended December 31, 2024 names RONALD W PAUL.
- Who are the officers and directors of FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $146,000 (DANIEL MCADAMS, SPECIAL PROJECTS DIRECTOR).
- How much revenue does FOUNDATION FOR RATIONAL ECONOMICS AND EDUCATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $734,831, expenses of $853,493 and total assets of $920,893 at year end.
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