True Freedom Enterprises
- Assets
- $770.1k
- Revenue
- $240.3k
- Investments
- -$741.0
- Employees
- 3
- Location
- Cleveland, OH
- Founding
- 03/2018
- Data as of
- 12/2022
- EIN
- 82-3134351
Organization Overview
True Freedom Enterprises is located in Cleveland, OH. The organization was established in 2018. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, True Freedom Enterprises employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. True Freedom Enterprises 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 12/2022, True Freedom Enterprises generated $240.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.5%) each year. All expenses for the organization totaled $242.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRUE FREEDOM ENTERPRISES EXISTS TO REVOLUTIONIZE PRISONER REENTRY IN AMERICA BY REDUCING RECIDIVISM THROUGH SPECIALIZING IN: PRE-RELEASE PRISONER WORKFORCE READINESS TRAINING PRE-RELEASE WORK RELEASE PROGRAMMING POST-RELEASE TRADE-SCHOOL TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRE-RELEASE WORKFORCE EMPOWERMENT PROGRAMTRUE FREEDOM ENTERPRISES FACILITATES A PRE-RELEASE WORKFORCE EMPOWERMENT PROGRAM DESIGNED TO ADDRESS THE STAGGERING 70% UNEMPLOYMENT RATE RETURNING CITIZENS FACE UPON RELEASE FROM PRISON. THIS INNOVATIVE INITIATIVE ALLOWS INCARCERATED INDIVIDUALS, DURING THEIR LAST 90 DAYS IN PRISON, TO PARTICIPATE IN AN EXTERNSHIP WITH PRIVATE COMPANIES THAT ENABLES THEM TO RECEIVE:REAL-WORLD WORK EXPERIENCETRANSFERRABLE SKILLSMONTHLY EVALUATIONSEMPLOYER REFERRALSRE-ENTRY RESOURCESTHE GOAL OF THE PROGRAM IS TO HELP RETURNING CITIZENS GAIN STABLE EMPLOYMENT, WHICH IS PROVEN TO REDUCE RECIDIVISM. POST-RELEASE EDUCATION PROGRAMTRUE FREEDOM HAS PARTNERED WITH ASHLAND UNIVERSITY TO PROVIDE EMPLOYMENT SKILLS-BASED CERTIFICATES AND ACCREDITED ASSOCIATES AND BACHELORS DEGREE PROGRAMMING TO INDIVIDUALS RECENTLY RELEASED FROM PRISON. THROUGH THIS UNIQUE COLLABORATION, ASHLAND UNIVERSITY HAS AGREED TO WAIVE ALL TUITION COSTS AND FEES ABOVE THE PELL GRANT, SO THAT TRUE FREEDOM STUDENTS RECEIVE THIS TRAINING ABSOLUTELY FREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Swiger President | OfficerTrustee | 10 | $58,609 |
Kevin Mchugh Chairman | OfficerTrustee | 1 | $0 |
Vince Ciepiel Board Member | OfficerTrustee | 1 | $0 |
Jeremy Dalton Board Member | OfficerTrustee | 1 | $0 |
John Lusk Board Member | Trustee | 1 | $0 |
David Wessel Head Od Develop | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,922 |
| Related organizations | $0 |
| Government grants | $40,586 |
| All other contributions, gifts, grants, and similar amounts not included above | $168,073 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $236,581 |
| Total Program Service Revenue | $5,000 |
| Investment income | $29 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,256 |
| 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. | $58,609 |
| Compensation of current officers, directors, key employees. | $19,536 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,094 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,424 |
| Fees for services: Management | $3,000 |
| Fees for services: Legal | $356 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,642 |
| Advertising and promotion | $507 |
| Office expenses | $5,197 |
| Information technology | $1,391 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $26,853 |
| Insurance | $4,749 |
| All other expenses | $196 |
| Total functional expenses | $242,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,155 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $624,243 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $32,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$741 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $770,062 |
| Accounts payable and accrued expenses | $3,425 |
| 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 | $6,777 |
| Unsecured mortgages and notes payable | $70,000 |
| Other liabilities | $1 |
| Total liabilities | $80,203 |
| Net assets without donor restrictions | $669,859 |
| Net assets with donor restrictions | $20,000 |
| 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 | $770,062 |