Overview
What is Student Freedom Initiative Inc?
Student Freedom Initiative Inc is a 501(C)(3) nonprofit organization headquartered in Washington, D.C. With a team of 17 dedicated individuals, its primary mission is to provide an alternative student-centric funding source for education costs for students attending Minority Serving Institutions (MSIs), in place of high-interest loans. This nonprofit aims to ensure professional and life freedom for students at MSIs, allowing them to make informed decisions about their futures without the burden of overwhelming student debt.
Official website here: www.studentfreedominitiative.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star Rating)
Student Freedom Initiative Inc has received a commendable Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The organization excels in multiple areas, achieving a perfect score in independent board composition and lack of material asset diversion. This high rating reflects a well-managed nonprofit that prioritizes transparency and responsible financial practices.
The organization demonstrates impressive financial ratios, including a program expense ratio of 77.30%, indicating that a significant portion of its expenses is directed toward its charitable programs. Additionally, their fundraising efficiency is notably high, with only $0.02 spent to raise a dollar, showcasing effective fundraising strategies. The long working capital ratio of 28.42 years further underscores the financial stability of the organization.
While the organization shows remarkable strengths, it is essential for potential donors and supporters to consider the specific programs and outcomes associated with their funding. Overall, Student Freedom Initiative Inc appears to be a well-structured and financially responsible nonprofit, making it a promising option for those looking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Student Freedom Initiative Inc legitimate?
Student Freedom Initiative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Student Freedom Initiative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $535,775
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,930,664
For more financial information, click here
Official website here: www.studentfreedominitiative.org
What is the mission statement of Student Freedom Initiative Inc?
The Student Freedom Initiative is a non-profit organization committed to enhancing the professional and personal freedom of students attending Minority Serving Institutions (MSIs). Its primary mission is to provide an alternative to high-interest student loans by offering student-centric funding for education costs. By doing so, the Student Freedom Initiative aims to alleviate the overwhelming student debt faced by many young men and women at MSIs, enabling them to make informed choices about their futures without financial constraints. The organization's focus on empowering students demonstrates its dedication to expanding opportunities and promoting equal access to education.
Official website here: www.studentfreedominitiative.org
What is the revenue of Student Freedom Initiative Inc?
Student Freedom Initiative Inc's revenue in 2024 was $5,904,402.
Official website here: www.studentfreedominitiative.org
Who are the executives of Student Freedom Initiative Inc and what are their salaries?
The average compensation at Student Freedom Initiative Inc during 2024 was $98,658. There are 25 employees and 6 volunteers at Student Freedom Initiative Inc.
Here are 13 key members and their salaries:
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- Compensation: $312,764
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- Other: $206
- Compensation: $197,973
- Related: $0
- Other: $24,832
- Compensation: $149,581
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- Other: $9,314
- Compensation: $176,900
- Related: $0
- Other: $18,095
- Compensation: $195,442
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- Other: $51,016
- Compensation: $160,311
- Related: $0
- Other: $21,758
- Compensation: $174,204
- Related: $0
- Other: $40,444
Official website here: www.studentfreedominitiative.org
Where can I find the form 990 for Student Freedom Initiative Inc?
Student Freedom Initiative Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.studentfreedominitiative.org
Learn more at the official website: www.studentfreedominitiative.org
Mission Statement of Student Freedom Initiative Inc
The Student Freedom Initiative is a 501(c)(3) nonprofit organization, committed to securing professional and life choices for students enrolled in Minority Serving Institutions (MSIs). This initiative prioritizes the freedom of students from the burden of overwhelming student debt, a common issue faced by many young men and women attending historically black colleges and universities. In simple terms, the Student Freedom Initiative serves as an alternative student-centric funding source for education expenses, acting as a viable option to high-interest loans. Through this approach, the organization aims to provide students with the resources and financial flexibility to make informed decisions about their future careers and personal growth, thereby enhancing their overall college experience. By focusing on the unique needs of students attending MSIs, the Student Freedom Initiative plays a vital role in empowering the next generation of diverse leaders and innovators, ensuring their academic journeys are not hindered by financial constraints.
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Impact
October, 2024
The Student Freedom Initiative Inc significantly impacts students attending Minority Serving Institutions (MSIs) by addressing the critical issue of student debt. By offering a student-centric funding source, it provides an alternative to high-interest loans, which often burden young men and women attending Historically Black Colleges and Universities (HBCUs). This initiative empowers students to pursue their educational goals without the looming threat of overwhelming financial obligations, ultimately fostering greater freedom in their professional and life choices. By alleviating the financial strain associated with higher education, the Student Freedom Initiative supports the long-term success and well-being of these students, helping to create a more equitable landscape in higher education.
This information is meant to be a general summary of Student Freedom Initiative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $2,814,827
- Program Service Revenue: $309,000
- Gross Receipts: $70,098,218
Assets and Liabilities:
- Total Assets: $132,770,538
- Total Liabilities: $181,535
- Net Assets: $132,589,003
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT FREEDOM AGREEMENT
Revenue
$309,000
Organization Details
Founding Year
2020
Principal Officer
Mark Brown
NTEE Category
Code: B82 - Education
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