BBB Wise Giving Report for
Education is Freedom

BBB Wise Giving Report issued January 2010
BBB Wise Giving Report expires October 2011


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Education is Freedom
Address: 2711 North Haskell Avenue, Suite 2070
  Dallas, TX 75204
Phone: 214-432-8555
Web Address: www.educationisfreedom.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2002, Texas
Affiliates: None
Stated Purpose: “to focus national attention and resources on students who have shown academic promise and leadership, but need guidance and financial assistance to go to college.”

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Evaluation Conclusions

               

Education is Freedom (EIF) does not meet the following Standard for Charity Accountability.

Standard 1: Oversight of Operations and Staff - Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

  • EIF does not meet this Standard because the same person serves as both the chair of the board and the treasurer.
Education is Freedom (EIF) meets the remaining 19 Standards for Charity Accountability.
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Programs

               

By providing financial aid and scholarships EF works to prevent low-income students from dropping out of high school; helps students prepare for college during middle and high school; helps students navigate college entrance and financial aid processes; equips students with skills needed to complete college; and helps students leverage private and public scholarship funds to pay for college.

For the year ended December 31, 2008, EIF's program expenses were:

  
Program services 2,647,409
Total Program Expenses: $2,647,409
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Governance

               

Chief Executive : Marcus Martin, PhD, MPH, MA, President & CEO
Compensation*:
 $223,231

Chair of the Board: David W. Biegler
Chair's Profession / Business Affiliation: CEO, Estrella Energy

Board Size: 13

Paid Staff Size: 26

*2008 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 11% of related contributions. (Related contributions, which totaled $3,336,187, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on EIF's audited financial statements for the year ended December 31, 2008.

Source of Funds  
Contributions and grants 2,741,843
Canister program 366,478
In-kind contributions 227,866
Interest income 10,178
Total Income $3,346,365


chart



Uses of Funds as a % of Total Expenses

Programs: 73%  Fund Raising: 10%  Administrative: 17% 

Total income   $3,346,365
  Program expenses $2,647,409
  Fund raising expenses 374,072
  Administrative expenses 611,658
 
Total expenses   $3,633,139
Expenses in Excess of Income   (286,774)
Beginning net assets   5,218,258
Ending net assets   4,931,484
Total liabilities   381,562
Total assets   $5,313,046

Note: EIF reports receving in-kind donations in the amount of $227,866. Included in this amount is $136,032 (office space), $63,000 (campus space) and $28,834 (legal services).

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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