2024-04-08T18:10:43-05:00 2023-06-30 420714325 RSM US LLP 7351 OFFICE PARK PLACE MELBOURNE FL 329408229 990 2022-07-01 850557522 STUDENT FREEDOM INITIATIVE INC STUD 2025590007 633 PENNSYLVANIA AVE NW 5TH FL WASHINGTON DC 20004 KEITH SHOATES CHIEF OPERATING OFFICER 2025590007 2024-04-08 1 KEITH SHOATES 999009999 0 KELLI PECK P01423033 3217516200 2024-04-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK BROWN 633 PENNSYLVANIA AVE NW 5TH FL WASHINGTON DC 20004 93389168 0 X WWW.STUDENTFREEDOMINITIATIVE.ORG X 2020 DE THE STUDENT FREEDOM INITIATIVE IS A 501(C)(3) NONPROFIT ORGANIZATION DEDICATED TO ENSURING FREEDOM IN PROFESSIONAL AND LIFE CHOICES FOR STUDENTS ATTENDING MINORITY SERVING INSTITUTIONS (MSIS). 7 6 18 6 0 0 13282489 16652730 1796280 1755711 194056 1314826 13000 19 15285825 19723286 4220 1251232 0 0 1821504 2348833 0 0 838023 3370003 3682141 5195727 7282206 10090098 12441080 132770538 145875504 181535 849560 132589003 145025944 STUDENT FREEDOM INITIATIVE IS DEDICATED TO ENSURING FREEDOM IN PROFESSIONAL AND LIFE CHOICES FOR STUDENTS ATTENDING MINORITY SERVING INSTITUTIONS (MSIS). 0 0 5543067 1251232 1755711 TO ADDRESS THE OVERWHELMING STUDENT DEBT FACED BY ALL TOO MANY OF THE YOUNG MEN AND WOMEN ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES BY PROVIDING A STUDENT-CENTRIC FUNDING SOURCE FOR EDUCATION COSTS AS AN ALTERNATIVE TO HIGH-INTEREST LOANS. 5543067 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 14 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X MICHELE MCCULLOM 2025590007 633 PENNSYLVANIA AVE NW 5TH FL WASHINGTON DC 20004 ROBERT F SMITH CHAIRMAN 4.00 X 0 0 0 HENRY LOUIS GATES DIRECTOR 1.00 X 0 0 0 MICHAEL LOMAX DIRECTOR 1.00 X 0 0 0 LINDA WILSON DIRECTOR 1.00 X 0 0 0 LAWRENCE P BANCROFT DIRECTOR 1.00 X 0 0 0 KEITH SHOATES CHIEF OPERATING OFFICER 25.00 X X 0 0 0 MARK BROWN EXECUTIVE DIRECTOR 40.00 X X 300875 0 170 MICHELE MCCULLOM GENERAL COUNSEL & SECRETARY 40.00 X 190139 0 15262 DONNA JONES DIRECTOR OF OPERATIONS 40.00 X 143894 0 7554 YVETTE THOMAS DIRECTOR OF CAPACITY BUILDING 40.00 X 160363 0 8130 BARRY CYNAMON DIRECTOR OF PROGRAM DESIGN 40.00 X 187488 0 35990 CHIMERE JONES ENGAGEMENT PARTNER 40.00 X 104368 0 16703 RONALD CROZIER CHIEF SECURITY OFFICER 40.00 X 166347 0 25233 1253474 0 109042 9 0 1 0 GOOD STUFF DIGITAL 925B PEACHTREE ST NE 122 ATLANTA GA 30309 MARKETING SERVICES 288000 UNITED NEGRO COLLEGE FUND INC 1805 7TH STREET NW WASHINGTON DC 20001 ONBOARDING WORK FOR SFI LONGITUDINAL STU 256257 CASSIDY & ASSOCIATES INC 07 14TH STREET NW SUITE 400 WASHINGTON DC 20005 PROFESSIONAL SERVICES 116750 SKADDEN ARPS SLATE MEAGHER & FLOM LLP PO BOX 1764 WHITE PLAINS NY 10602 LEGAL SERVICES 105176 4 16652730 16652730 STUDENT FREEDOM AGREEMENT 900099 1755711 1755711 1755711 1399416 1399416 73581292 73665882 -84590 -84590 -84590 MISCELLANEOUS 900099 19 19 19 19723286 1755711 0 1314845 X 1251232 1251232 508476 364981 54789 88706 1515451 1087780 163292 264379 63138 45320 6803 11015 126187 90577 13596 22014 135581 97319 14609 23653 46524 20839 25685 97984 97984 50105 50105 1124296 985572 130418 8306 419250 419250 24311 24311 55469 55469 39266 39266 57513 40 56773 700 2869 2869 16707 16707 5458 5458 STUDENT FREEDOM AGREEME 1582271 1582271 DONATIONS 68861 68861 SPONSORSHIPS 53500 53500 LICENSES AND FEES 17136 17136 20621 20621 7282206 5543067 901116 838023 6925020 18111041 81168577 70432244 1796280 3551991 11695 74929 76736 32630 40344 44106 42825326 53622211 3296 38982 132770538 145875504 175717 810400 5818 39160 181535 849560 X 86857853 94285216 45731150 50740728 132589003 145025944 132770538 145875504 X 12441080 132194 -136333 X 0 1 X 0 0 X 50060000 75542300 13282489 16652730 155537519 50060000 75542300 13282489 16652730 155537519 128123158 27414361 194134 1399416 1593550 13000 19 13019 157144088 3551991 X PART II, SHORT YEAR EXPLANATION: THE ORGANIZATION BEGAN OPERATIONS ON MARCH 16, 2020. THE AMOUNTS IN THE 2019 COLUMN REFLECT THE SHORT PERIOD FROM MARCH 16, 2020 TO JUNE 30, 2020. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51236 25338 25898 25500 7292 18208 44106 LEASE LIABILITIES 39160 39160 X 19669042 132194 132194 19536848 50105 136333 186438 19723286 7232101 0 7232101 50105 50105 7282206 PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME UNDER IRC SECTION 501(C)(3). FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, THERE WAS NO NET UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED. THE FUND IS A LIMITED LIABILITY COMPANY, AND TREATED AS A DISREGARDED ENTITY FOR TAX PURPOSES; THEREFORE, IT HAS THE SAME 501(C)(3) TAX-EXEMPT STATUS AS THE INSTITUTE. ALL ITEMS OF INCOME AND EXPENDITURES FOR THE FUND ARE ATTRIBUTABLE TO THE INSTITUTE, AND ARE REPORTED ON THE INSTITUTE'S ANNUAL TAX RETURN. ALL ACTIVITIES OF THE FUND ARE RELATED TO THE MISSION OF THE INSTITUTE. MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POLICIES AND CONCLUDED THAT THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN DISCOUNT ON MULTI YEAR RECEIVABLES 136,333. 1 BLUEFIELD STATE UNIVERSITY 219 ROCK STREET BLUEFIELD WV 24701 556000751 GOV 50000 0 BROADBAND PROGRAM BOWIE STATE UNIVERSITY FOUNDATION 14000 JERICHO PARK ROAD BOWIE MD 20715 520952758 501C3 9500 0 HELPS PROGRAM LINCOLN UNIVERSITY 1570 BALTIMORE PIKE LINCOLN UNIVERSITY PA 19352 231352655 501C3 9375 0 HELPS PROGRAM MILES COLLEGE 5500 MYRON MASSEY BLVD FAIRFIELD AL 35064 630400608 501C3 50000 0 BROADBAND PROGRAM MOREHOUSE COLLEGE 830 WESTVIEW DR SW ATLANTA GA 30314 580566205 501C3 45269 0 HELPS PROGRAM PRAIRIE VIEW A&M UNIVERSITY L W MINOR ST W R BANKS BLDG PRAIRIE VIEW TX 77446 746001078 GOV 18530 0 HELPS PROGRAM SELMA UNIVERSITY 1501 BOYNTON STREET SELMA AL 36701 630367461 501C3 50000 0 BROADBAND PROGRAM STILLMAN COLLEGE 3601 STILLMAN BLVD TUSCALOOSA AL 35401 630315935 501C3 50000 0 BROADBAND PROGRAM WEST VIRGINIA STATE UNIVERSITY FOUNDATION PO BOX 1000 INSTITUTE WV 25112 556019228 501C3 50000 0 BROADBAND PROGRAM STACKWELL CAPITAL 800 BOYLSTON ST BOSTON MA 02199 917000 0 PILOT INITIATIVE 9 1 X 0 0 0 0 0 0 0 0 0 MARK BROWN EXECUTIVE DIRECTOR 300875 0 0 0 0 0 0 0 170 0 301045 0 0 0 BARRY CYNAMON DIRECTOR OF PROGRAM DESIGN 187488 0 0 0 0 0 9707 0 33841 0 231036 0 0 0 MICHELE MCCULLOM GENERAL COUNSEL & SECRETARY 190139 0 0 0 0 0 5494 0 11798 0 207431 0 0 0 RONALD CROZIER CHIEF SECURITY OFFICER 166347 0 0 0 0 0 0 0 32936 0 199283 0 0 0 YVETTE THOMAS DIRECTOR OF CAPACITY BUILDING 160363 0 0 0 0 0 0 0 10024 0 170387 0 0 0 DONNA JONES DIRECTOR OF OPERATIONS 143894 0 0 0 0 0 7476 0 329 0 151699 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 KEITH SHOATES, ROBERT SMITH - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION REVIEWS THE FORM 990 WITH THEIR FINANCIAL ACCOUNTANTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C POLICIES ARE REVIEWED ON QUARTERLY BASIS TO MAINTAIN COMPLIANCY. FORM 990, PART VI, SECTION B, LINE 15 COMPARATIVE DATA WAS REVIEWED AND APPROVED BY THE BOD. A BOD MOTION WAS MADE AND APPROVED DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FOR THE SAME PERIOD AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G MISCELLANEOUS: PROGRAM SERVICE EXPENSES 880,361. MANAGEMENT AND GENERAL EXPENSES 130,418. FUNDRAISING EXPENSES 8,306. TOTAL EXPENSES 1,019,085. STUDENT FREEDOM AGREEMENT PROCESSING FEES: PROGRAM SERVICE EXPENSES 105,211. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 105,211. FORM 990, PART XI, LINE 9: CHANGE IN DISCOUNT ON MULTI YEAR RECEIVABLES -136,333. STUDENT FREEDOM FUND 633 PENNSYLVANIA AVE NW FL 5 WASHINGTON DC 20004 884314074 FACILITATE THE ADMINISTRATION OF THE STUDENT FREEDOM AGREEMENTS DC 55000 53916 STUDENT FREEDOM INITIATIVE