Free Enterprise Institute
- Assets
- $707.9k
- Revenue
- $285.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Houston, TX
- Founding
- 04/1977
- Data as of
- 12/2021
- EIN
- 74-1887755
Organization Overview
Free Enterprise Institute is located in Houston, TX. The organization was established in 1977. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 12/2021, Free Enterprise Institute employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Free Enterprise Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Free Enterprise Institute generated $285.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $414.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL SEMINARS & PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE ENTERPRISE INSTITUTE - THESE SEMINARS AND WORKSHOPS ARE EVENTS FOR TEACHERS TO INTERACT AND LEARN FROM RENOWNED SCHOLARS FROM ACROSS THE NATION REGARDING THE INTELLECTUAL, ECONOMIC, HISTORIC AND MORAL HERITAGE OF OUR COUNTRY.
THE IMAGINATIVE CONSERVATIVE OFFERS TO OUR FAMILIES, OUR COMMUNITIES, AND THE REPUBLIC, A CONSERVATISM OF HOPE, GRACE, CHARITY, GRATITUDE AND PRAYER. THE IMAGINATIVE CONSERVATIVE IS AN ON-LINE JOURNAL FOR THOSE WHO SEEK THE TRUE, THE GOOD AND THE BEAUTIFUL. WE ADDRESS CULTURE, LIBERAL LEARNING, POLITICS, POLITICAL ECONOMY, LITERATURE, THE ARTS AND THE AMERICAN REPUBLIC IN THE TRADITION OF RUSSELL KIRK, T.S. ELIOT, EDMUND BURKE, IRVING BABBITT, PAUL ELMER MORE, WILHELM ROEPKE, ROBERT NISBET, M.E. BRADFORD, CHRISTOPHER DAWSON AND OTHER LEADERS OF IMAGINATIVE CONSERVATISM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Winston Elliott III President | OfficerTrustee | 40 | $90,200 |
Evelyn Griffin Trustee | Trustee | 1 | $0 |
S Reed Morian Trustee | Trustee | 1 | $0 |
Preston Young Trustee | Trustee | 1 | $0 |
Ted Cruz Trustee | Trustee | 1 | $0 |
Bradley Birzer Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $269,383 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $269,383 |
| Total Program Service Revenue | $0 |
| Investment income | $11,284 |
| 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 | -$7,147 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $285,157 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $95,612 |
| Compensation of current officers, directors, key employees. | $13,530 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,078 |
| Payroll taxes | $16,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,633 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,938 |
| Office expenses | $20,133 |
| Information technology | $11,530 |
| Royalties | $0 |
| Occupancy | $61,751 |
| Travel | $960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,471 |
| Insurance | $6,120 |
| All other expenses | $0 |
| Total functional expenses | $414,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,767 |
| Savings and temporary cash investments | $526,112 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,493 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,739 |
| Investments—publicly traded securities | $38,337 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,499 |
| Total assets | $707,947 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $591,322 |
| Net assets with donor restrictions | $116,625 |
| 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 | $707,947 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Free Enterprise Institute has recieved totaling $105,067.
| Awarding Organization | Amount |
|---|---|
William A Solemene Charitable Foundation Dallas, TX PURPOSE: GENERAL | $55,000 |
Cockrell Foundation Houston, TX PURPOSE: SUPPORT THE 2021 ANNUAL FREEDOM FUND | $35,000 |
Greater Houston Community Foundation Houston, TX PURPOSE: ARTS | $11,000 |
Marek Family Foundation Houston, TX PURPOSE: TO HELP CITIZEN LEADERS UNDERSTAND PRINCIPLES AND ROOTS OF AMERICA FREEDOM | $2,500 |
Zions Bancorporation Foundation Salt Lake City, UT PURPOSE: ANNUAL FREEDOM FUND | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas State Council On Economic Education Little Rock, AR | $851,253 | $993,502 |
Free Enterprise Institute Houston, TX | $707,947 | $285,157 |
The Junior Achievement Of Greater New Orleans Education Foundation I New Orleans, LA | $3,828,672 | $327,064 |
Junior Achievement Of Central Texas Inc Austin, TX | $0 | $225,479 |
St Anthonys Endowment Fund Harlingen, TX | $1,382,102 | $84,561 |
Boss Club Foundation Mansfield, TX | $49,273 | $0 |
Great Dallas Taiwanese Chamber Of Commerce Plano, TX | $21,433 | $0 |
Banquet Table San Antonio, TX | $229 | $0 |
Beaumont Public Schools Foundation Inc Beaumont, TX | $608,474 | $43,114 |
West Texas Lemonade Day Lubbock, TX | $94,598 | $0 |
Tbk Pine Bluff, AR | $4,702 | $0 |
Wilson County Livestock Show Association Floresville, TX | $72,740 | $0 |