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Freedom Farm

EIN 41-1990650 · Waverly, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak46 out of 100GovernanceGood76 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

Freedom Farm partners with the unique gifts of the horse to offer healing, hope, confidence, and strength.

Income
$272,478
Spending
$362,838
Spent on programs
77%
Reserves
1.5 months of spending
Largest source of income
donations and private grants, 68%
Employees
11
Volunteers
0
Highest pay
$69,290, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 46 out of 100. Higher than 15% of charities in its peer group (human services, $250k to $1m).

  • Reserves

    10 of 35

    Spendable reserves would cover 1.5 months of spending.

  • Debt

    16 of 20

    It owes 24% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 33% of income.

  • Income trend

    5 of 15

    Income fell 12% on the year before.

  • Spending floor

    15 of 15

    77% of spending went to programs and raising each dollar of donations cost 24 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 76 out of 100. Higher than 56% of charities in its peer group (human services, $250k to $1m).

  • Independent board

    25 of 25

    6 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $181,993 spent. Hope & Healing with Horses: While partnering with the horse, 'Hope & Healing' focuses on developing trust, finding success, and building confidence while providing horsemanship experiences to improve communication.
  2. $48,998 spent. Succeed with Horses at Freedom Academy: Freedom Academy is an on-site Accredited Public High School. Students attend the 'Succeed with Horses' class daily where they partner with the horse gaining horsemanship skills and learning to find direction and build positive relationships.
  3. $48,998 spent. Mount Up/Walk On: For veterans and active duty service members who are on a path of healing. It's a time to rebuild confidence and trust, focus on the 'here and now and to give back to the community.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.