Freedom Fund
- Assets
- $9.3m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Brooklyn, NY
- Founding
- 03/2014
- Data as of
- 12/2019
- EIN
- 30-0805768
Freedom Fund Overview
Freedom Fund is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2019, Freedom Fund employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Freedom Fund generated $16.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $14.9m during the year ending 12/2019. While expenses have increased by 9.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Freedom Fund has awarded 58 individual grants totaling $6,583,776. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO MOBILIZE THE CAPITAL AND KNOWLEDGE NEEDED TO END SLAVERY. WE GENERATE PRIVATE FUNDING BY DEMONSTRATING HOW EFFECTIVE INTERVENTIONS CAN PROTECT THOSE AT RISK OF BEING ENSLAVED AND FREE THOSE IN SLAVERY. WE INVEST IN THOSE COUNTRIES AND SECTORS WITH THE GREATEST INCIDENCE OF SLAVERY. WE ANALYZE WHICH INTERVENTIONS WORK BEST, AND WE SHARE THAT KNOWLEDGE. WE BRING TOGETHER A COMMUNITY OF ACTIVISTS COMMITTED TO ENDING SLAVERY AND EMPOWERED BY THE KNOWLEDGE OF HOW BEST TO DO SO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOTSPOTS PROJECTS: THE FREEDOM FUND HAS SELECTED KEY GEOGRAPHIC AREAS KNOWN TO HAVE A HIGH INCIDENCE OF MODERN SLAVERY, WHERE OUR INTERVENTIONS ARE MOST LIKELY TO RESULT IN A MEASUREABLE REDUCTION IN SLAVERY. IN OUR HOTSPOT PROJECTS, WE INVEST IN A RANGE OF COMMUNITY-BASED ORGANIZATIONS TO ENABLE THEM TO PROTECT THOSE AT RISK OF SLAVERY, RESCUE AND REHABILITATE THOSE ENSLAVED, AND PROSECUTE THOSE RESPONSIBLE. THESE HOTSPOT PROJECTS ENCOURAGE COOPERATION BETWEEN LOCAL GRASSROOTS ORGANIZATIONS AND ENSURE AN INTEGRATED, CROSS-DISCIPLINARY APPROACH.
MOVEMENT BUILDING: ORGANIZATIONS AROUND THE WORLD ARE DOING EXCEPTIONAL WORK TO ERADICATE SLAVERY BUT, TOO OFTEN, THESE EFFORTS ARE FRAGMENTED AND UNDERFUNDED. WE AIM TO BUILD A GLOBAL COMMUNITY OF ACTIVISTS, EXPERTS AND DONORS BY PROVIDING THE PLATFORM, KNOWLEDGE, AND TOOLS FOR THEM TO CONNECT AND WORK TOGETHER MORE EFFECTIVELY OVER A SUSTAINED PERIOD. WE USE OUR GLOBAL LEADERSHIP ROLE, AND THE CREDIBILITY CONFERRED BY THE BACKING OF OUR FOUNDERS, TO BRING ACTORS TOGETHER AND ENCOURAGE GREATER COLLABORATION AND COORDINATION.
GLOBAL INITIATIVES: OUR SECTOR INITIATIVES COORDINATE ACTORS AND RESOURCES AROUND A SLAVERY-SPECIFIC ISSUE, INCLUDING SECTORS, INDUSTRIES, OR CIRCUMSTANCES. THIS ALLOWS THE FREEDOM FUND TO TACKLE SYSTEMIC ISSUES LIKE SLAVERY IN FISHING OR CROSS-BORDER MIGRATION WITH NEW TECHNOLOGICAL TOOLS OR LEGAL INITIATIVES. IT FACILITATES A COLLABORATIVE APPROACH AND GREATER COMBINED IMPACT. THE FREEDOM FUND PROVIDES A CHANNEL THROUGH WHICH THOSE WITH FUNDS, KNOWLEDGE, OR INFLUENCE CAN IMPACT INTERNATIONAL ORGANIZATIONS, GOVERNMENTS, MEDIA AND THE CORPORATE SECTOR TO SPEED ACTION.
QUALITY AND LEARNING
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Freedom Fund Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Grono Ceo/president | Officer | 40 | $311,577 |
Amol Mehra Md, North America | Officer | 40 | $185,000 |
Ulrike Hellman Director Of Strategic Partnerships | 40 | $107,165 | |
Zoe Marshall Director Of Finance & Admin/secretary | Officer | 40 | $105,243 |
Dan Vexler Director Of Programs | 40 | $105,023 | |
Alan Mccormick Chair | OfficerTrustee | 1 | $0 |
Freedom Fund Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Geneva Global Program Management Services | 12/30/18 | $1,287,917 |
Trinet Payroll Services | 12/30/18 | $595,806 |
Dilhan Attanayake Web Design And Maintenance | 12/30/18 | $131,214 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,854 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,353,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,372,920 |
| Total Program Service Revenue | $0 |
| Investment income | $25,504 |
| 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 | $16,398,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,423,099 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $7,568,062 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $649,350 |
| Compensation of current officers, directors, key employees. | $139,279 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,752,736 |
| Pension plan accruals and contributions | $161,285 |
| Other employee benefits | $47,716 |
| Payroll taxes | $249,576 |
| Fees for services: Management | $1,538,139 |
| Fees for services: Legal | $29,592 |
| Fees for services: Accounting | $76,048 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $260,164 |
| Advertising and promotion | $91,208 |
| Office expenses | $141,346 |
| Information technology | $115,293 |
| Royalties | $0 |
| Occupancy | $264,523 |
| Travel | $408,218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,113 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,910 |
| Insurance | $30,189 |
| All other expenses | $15,726 |
| Total functional expenses | $14,941,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $536,576 |
| Savings and temporary cash investments | $7,984,061 |
| Pledges and grants receivable | $652,442 |
| 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 | $47,363 |
| Net Land, buildings, and equipment | $36,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,701 |
| Total assets | $9,289,800 |
| Accounts payable and accrued expenses | $668,085 |
| 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 | $86,413 |
| Total liabilities | $754,498 |
| Net assets without donor restrictions | $5,753,803 |
| Net assets with donor restrictions | $2,781,499 |
| 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 | $9,289,800 |
Freedom Fund Grants Awarded
Over the last fiscal year, Freedom Fund has awarded $1,423,099 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: GENERAL SUPPORT | $250,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $250,000 |
Brooklyn, NY PURPOSE: GENERAL SUPPORT | $200,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $100,000 |
San Diego, CA PURPOSE: GENERAL SUPPORT | $96,021 |
Berkeley, CA PURPOSE: GENERAL SUPPORT | $78,694 |
Freedom Fund Grants Recieved
Over the last fiscal year, we have identified 6 grants that Freedom Fund has recieved totaling $585,452.
| Awarding Organization | Amount |
|---|---|
Marin Community Foundation Novato, CA PURPOSE: LEADERSHIP INITIATIVE FREEDOM RISING | $400,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $150,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,100 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,100 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: International Development | $10,000 |
Paypal Charitable Giving Fund Washington, DC | | $5,252 |
Freedom Fund Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $219,249,459 | $114,515,572 |
Donors Fund Inc Lakewood, NJ | $5,620,390 | $27,000,911 |
Roswell Park Alliance Foundation Buffalo, NY | $105,267,194 | $26,518,336 |
Boston Charitable Trust Fund Boston, MA | $13,199,861 | $31,296,432 |
Greater Hartford Community Foundation Inc Hartford, CT | $6,782,249 | $19,831,812 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Freedom Fund Brooklyn, NY | $9,289,800 | $16,398,424 |
Partnership Schools New York, NY | $65,751,887 | $13,200,484 |
The M S Hershey Foundation Hershey, PA | $56,217,627 | $12,355,652 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $13,512,280 |
Virgin Unite Usa Inc New York, NY | $14,736,857 | $4,506,648 |
Pittsburgh Promise Foundation Pittsburgh, PA | $66,594,047 | $8,011,763 |
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