Nonprofit · EIN 88-2726911
FREEDOM EQUITY INC
Tax-exempt · COLUMBUS, OH 43215
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,770,153 | $1,447,116 | $1,323,037 | $3,632,489 | $1,998,944 | $1,633,545 |
| December 31, 2023 | 990 | $1,054,916 | $912,058 | $142,858 | $2,440,252 | $2,129,744 | $310,508 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,732,168
- Program service revenue
- $0
- Investment income
- $37,985
- Net gain from sales of assets
- $5,517
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $650,118
- Salaries, compensation and benefits (total)
- $744,613
- Professional fundraising fees
- $0
- Occupancy
- $60,233
- Travel
- $14,802
- Depreciation
- $6,294
- Program services (functional)
- $956,625
- Management and general (functional)
- $388,634
- Fundraising (functional)
- $101,857
Balance sheet and other
- Total assets, start of year
- $2,440,252
- Total assets, end of year
- $3,632,489
- Total liabilities, end of year
- $1,998,944
- Net assets, end of year
- $1,633,545
- Land, buildings and equipment
- $31,647
- Net assets without donor restrictions
- $1,383,545
- Net assets with donor restrictions
- $250,000
- Gross receipts
- $2,780,553
- Employees
- 10
- Year formed
- 2022
- State of legal domicile
- OH
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 |
|---|---|---|---|
| Jennifer Averi Frost | Executive Dir. Officer | 40 | $144,672 |
| Courtnee Hawkins | Director Trustee or director | 40 | $124,999 |
| Aneeka Bashir | Director Trustee or director | 40 | $106,724 |
| Vonisha Turner | Foundation Mgr. Trustee or director | 40 | $77,333 |
| Jeremy Sharper | Director Trustee or director | 40 | $77,307 |
| Dejah Bryant | Director Trustee or director | 40 | $72,117 |
| Shanique Washington | Director Trustee or director | 40 | $20,973 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jennifer Averi Frost | Executive Dir. Officer | 40 | $123,288 |
| Aneeka Bashir | Director Trustee or director | 40 | $79,345 |
| Bismark Akomeah | Director Trustee or director | 40 | $70,473 |
| Vonisha Turner | Foundation Mgr. Trustee or director | 40 | $52,500 |
| Eric Williams | Director Trustee or director | 40 | $16,251 |
| John Banks | Foundation Mgr. Trustee or director | 40 | $14,360 |
Address and contacts
- Address (IRS master file)
- 341 S 3RD ST STE 301, COLUMBUS, OH 43215-5463
- Principal officer (990 for 2024)
- Jennifer Averi Frost, 341 South 3rd St 301, Columbus, OH 43215
- Signed the 990
- Jennifer Averi Frost, Executive Dir.
- Phone
- (614) 484-7075
- Website
- www.freedomequity.org
- Return prepared by
- Barbour & Marino CPA Group Inc
Mission
Community development financial institution that is an alternate lender for black-owned small businesses in Central Ohio to improve the accessibility and affordability of capital.
Program accomplishments
- Provided business development support services to small businesses, provided capital to support small businesses, supported community development efforts via support of small businessesExpenses $956,625
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
- 88-2726911
- 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
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $3,632,489
- Income (IRS master file)
- $2,780,553
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,770,153 | $1,447,116 | $3,632,489 | IRS |
| 990 | December 2023 | $1,054,916 | $912,058 | $2,440,252 | XML |
| 990 | December 2022 | $335,686 | $363,311 | $167,650 | 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 88-2726911).
Questions about FREEDOM EQUITY INC
- What is the EIN of FREEDOM EQUITY INC?
- The employer identification number (EIN) of FREEDOM EQUITY INC is 88-2726911.
- Is FREEDOM EQUITY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to FREEDOM EQUITY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FREEDOM EQUITY 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 FREEDOM EQUITY 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 FREEDOM EQUITY 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 FREEDOM EQUITY INC?
- The 990 for the year ended December 31, 2024 names Jennifer Averi Frost.
- Who are the officers and directors of FREEDOM EQUITY INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 7 received compensation from the organization, the highest $144,672 (Jennifer Averi Frost, Executive Dir.).
- How much revenue does FREEDOM EQUITY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,770,153, expenses of $1,447,116 and total assets of $3,632,489 at year end.
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All nonprofits in COLUMBUS · Ohio · Community improvement and capacity building