Nonprofit · EIN 74-3160646
THE FREE STATE FOUNDATION INC
Tax-exempt · POTOMAC, MD 20854
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,068,198 | $1,287,803 | -$219,605 | $3,694,815 | $83,420 | $3,611,395 |
| December 31, 2023 | 990 | $1,341,715 | $1,224,733 | $116,982 | $3,720,992 | $78,164 | $3,642,828 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $911,488
- Program service revenue
- $0
- Investment income
- $156,710
- Net gain from sales of assets
- $24,793
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $532,296
- Other salaries and wages
- $448,764
- Salaries, compensation and benefits (total)
- $1,148,816
- Professional fundraising fees
- $0
- Accounting fees
- $15,400
- Occupancy
- $1,889
- Travel
- $13,016
- Depreciation
- $1,685
- Program services (functional)
- $1,119,114
- Management and general (functional)
- $129,014
- Fundraising (functional)
- $39,675
Balance sheet and other
- Total assets, start of year
- $3,720,992
- Total assets, end of year
- $3,694,815
- Total liabilities, end of year
- $83,420
- Net assets, end of year
- $3,611,395
- Land, buildings and equipment
- $6,504
- Net assets without donor restrictions
- $3,611,395
- Gross receipts
- $1,145,891
- Employees
- 5
- Volunteers
- 3
- Year formed
- 2005
- State of legal domicile
- MD
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 | Other / benefits |
|---|---|---|---|---|
| RANDOLPH J MAY | PRESIDENT Trustee or director, Officer | 60 | $401,942 | $41,608 |
| SETH COOPER | DIRECTOR OF POLICY STUDIES Highest-paid employee | 40 | $230,060 | $30,006 |
| ANDREW LONG | SENIOR FELLOW Highest-paid employee | 32 | $160,808 | $20,280 |
| LAURIE J MAY | SECRETARY/TREASURER Trustee or director, Officer | 24 | $128,868 | $13,503 |
| THOMAS TAUKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WILLIAM K KEANE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KENNETH HOWARD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RANDOLPH J MAY | PRESIDENT Trustee or director, Officer | 60 | $381,498 | $39,981 |
| SETH COOPER | DIRECTOR OF POLICY STUDIES Highest-paid employee | 40 | $222,082 | $29,208 |
| ANDREW LONG | SENIOR FELLOW Highest-paid employee | 32 | $157,001 | $19,900 |
| LAURIE J MAY | SECRETARY/TREASURER Trustee or director, Officer | 24 | $120,128 | $12,629 |
| THOMAS TAUKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WILLIAM K KEANE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KENNETH HOWARD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 10701 STAPLEFORD HALL DR, POTOMAC, MD 20854-4448
- Principal officer (990 for 2024)
- RANDOLPH J MAY, 10701 STAPLEFORD HALL DRIVE, POTOMAC, MD 20854
- Signed the 990
- RANDOLPH J MAY, PRESIDENT
- Phone
- (301) 299-3182
- Website
- WWW.FREESTATEFOUNDATION.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE FREE STATE 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 THE 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.
Program accomplishments
- 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 2024, THE FOUNDATION PUBLISHED FORTY-SIX ARTICLES AND SCHOLARLY STUDIES AS PART OF ITS "PERSPECTIVES FROM FSF SCHOLARS" SERIES. IT PUBLISHED 140 SEPARATE BLOGS. FOUNDATION SCHOLARS WERE PUBLISHED AND QUOTED OFTEN IN MAJOR NATIONAL PUBLICATIONS AND TWO OR THREE TIMES WEEKLY IN LEADING TRADE PRESS PUBLICATIONS. FSF ALSO FILED COMMENTS IN AGENCY RULEMAKING AND POLICY PROCEEDINGS, PARTICULARLY ON DATA CAPS ON DATA BROADBAND PLANS, THE SECTION 706 INQUIRY, THE STATE OF COMPETITION IN THE COMMUNICATIONS MARKETPLACE, AND THE PREVENTION AND ELIMINATION OF DIGITAL DISCRIMINATION. FSF'S SIXTEENTH ANNUAL TELECOM POLICY CONFERENCE, HELD ON MARCH 12, 2024, ATTRACTED OVER ONE HUNDRED ATTENDEES AND A DIVERSE GROUP OF DISTINGUISHED SPEAKERS FROM ACADEMIA, SENIOR GOVERNMENT OFFICIALS, PUBLIC INTEREST ORGANIZATIONS, AND INDUSTRY. DURING CY 2024, FSF SPONSORED MORE THAN FIFTEEN VIDEOS ON TELECOMMUNICATIONS TOPICS. 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.Expenses $1,110,689
- 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. DURING 2024, FSF 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 2024, SEVERAL SUBSTANTIVE BLOGS WERE PUBLISHED ON THESE MARYLAND POLICY ISSUES.Expenses $8,425
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
- 74-3160646
- 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
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $3,694,815
- Income (IRS master file)
- $1,145,891
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,068,198 | $1,287,803 | $3,694,815 | XML |
| 990 | December 2023 | $1,341,715 | $1,224,733 | $3,720,992 | XML |
| 990 | December 2022 | $1,219,957 | $1,191,333 | $3,306,788 | 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 74-3160646).
Questions about THE FREE STATE FOUNDATION INC
- What is the EIN of THE FREE STATE FOUNDATION INC?
- The employer identification number (EIN) of THE FREE STATE FOUNDATION INC is 74-3160646.
- Is THE FREE STATE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to THE FREE STATE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE FREE STATE 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 THE FREE STATE FOUNDATION 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 THE FREE STATE FOUNDATION 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 THE FREE STATE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names RANDOLPH J MAY.
- Who are the officers and directors of THE FREE STATE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 4 received compensation from the organization, the highest $401,942 (RANDOLPH J MAY, PRESIDENT).
- How much revenue does THE FREE STATE FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,068,198, expenses of $1,287,803 and total assets of $3,694,815 at year end.
Other nonprofits in POTOMAC
- BULLIS SCHOOL INC EIN 52-0635080 · last filed 990 for 2025
- MCLEAN SCHOOL OF MARYLAND INC EIN 52-1117092 · last filed 990 for 2025
- DEUTSCHER SCHULVEREIN WASHINGTON D C EIN 54-0740278 · last filed 990 for 2025
- MANOR MONTESSORI SCHOOL INC EIN 52-1052757 · last filed 990 for 2025
- FOULGER FAMILY FOUNDATION INC EIN 47-1636720 · last filed 990-PF for 2025
- HARBOR SCHOOL CORPORATION EIN 52-1041717 · last filed 990 for 2025
- ESCUELA ARGENTINA INC EIN 52-2259125 · last filed 990 for 2025
- ROBERT H SMITH SCHOOL OF BUSINESS FOUNDATION INC EIN 23-7332043 · last filed 990-PF for 2025