2026-03-12T06:19:04-05:00 2025-06-30 420714325 RSM US LLP 7351 OFFICE PARK PLACE MELBOURNE FL 329408229 990 2024-07-01 850557522 STUDENT FREEDOM INITIATIVE INC STUD 2025590007 633 PENNSYLVANIA AVE NW 5TH FL WASHINGTON DC 20004 KEITH SHOATES PRESIDENT AND CEO 2025590007 2026-03-06 1 1 KELLI PECK P01423033 3217516200 2026-03-06 2024 2025-03-06 01:10:19Z KEITH SHOATES 633 PENNSYLVANIA AVE NW 5TH FL WASHINGTON DC 20004 65880824 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 5 25 5 0 0 2719528 2776205 309000 139919 2874907 2628965 967 460492 5904402 6005581 1392824 965023 0 0 2914085 2929742 0 0 662834 5805694 2927096 10112603 6821861 -4208201 -816280 141833798 141110468 1367828 271843 140465970 140838625 STUDENT FREEDOM INITIATIVE IS DEDICATED TO ENSURING FREEDOM IN PROFESSIONAL AND LIFE CHOICES FOR STUDENTS ATTENDING MINORITY SERVING INSTITUTIONS (MSIS). 0 0 5090160 965023 139919 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. 5090160 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 28 0 1 25 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 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 PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 X X 120820 0 0 MARK BROWN EXECUTIVE DIRECTOR 40.00 X X 158693 0 118 MICHELE MCCULLOM GENERAL COUNSEL & SECRETARY 40.00 X 207040 0 24936 YVETTE THOMAS DIRECTOR OF CAPACITY BUILDING 40.00 X 187216 0 21993 BARRY CYNAMON DIRECTOR OF PROGRAM DESIGN 40.00 X 203780 0 55507 KENNETH LUZZATTO PROJECT MANAGER 40.00 X 166473 0 20974 RONALD CROZIER CHIEF SECURITY OFFICER 40.00 X 182925 0 46833 GREGG MITCHELL DIRECTOR OF PHILANTHROPY 40.00 X 167411 0 51697 1394358 0 222058 15 0 1 0 MCKINSEY & COMPANY INC 140 FOUNTAIN PARKWAY NORTH ST PETERSBURG FL 33716 CONSULTING 1800000 IMPERIAL MANAGEMENT GROUP LLC 1010 BALLY BUNION DR EGG HARBOR CITY NJ 08215 GRANT WRITING 400000 GOOD STUFF DIGITAL 925B PEACHTREE ST NE 122 ATLANTA GA 30309 MARKETING 276566 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 ACCOUNTING 130890 BLACK PROMOTERS COLLECTIVE LLC 25700 INTERSTATE 45 N STE 4043 SPRING TX 77386 CONCERT MANAGEMENT 125000 6 2776205 2776205 STUDENT FREEDOM AGRMNT 900099 139919 139919 139919 2533835 2533835 59970123 250 59875243 0 94880 250 95130 95130 GRANT RECOVERY 900099 460000 460000 MISCELLANEOUS 900099 492 492 460492 6005581 139919 0 3089457 X 422857 422857 542166 542166 511606 424591 54386 32629 1958368 1625285 208185 124898 86929 72144 9241 5544 192847 160048 20500 12299 179992 149379 19134 11479 137315 106986 30329 143730 143730 62725 62725 1324092 1099118 63840 161134 340250 34250 306000 24942 233 24709 97065 22534 65913 8618 50123 50123 84679 7726 76720 233 62736 2012 60724 30598 30598 61397 379 61018 STUDENT FREEDOM AGREEME 420452 420452 LICENSES AND FEES 36458 36458 GIFTS 19818 19818 30716 30716 6821861 5090160 1068867 662834 14612993 18608167 51159799 51558521 7035591 15027939 42500 572557 143804 80902 87045 62902 68671403 55097171 224467 183211 141833798 141110468 706337 87909 440000 221491 183934 1367828 271843 X 81984814 80544545 58481156 60294080 140465970 140838625 141833798 141110468 -816280 1188935 0 X 0 1 X 0 0 X 75542300 13282489 16652730 2719528 2776205 110973252 1796280 1755711 309000 139919 4000910 75542300 15078769 18408441 3028528 2916124 114974162 49713345 49713345 0 49713345 49713345 65260817 194134 1399416 2814827 2533835 6942212 194134 1399416 2814827 2533835 6942212 13000 19 967 460492 474478 75542300 15285903 19807876 5844322 5910451 122390852 0.53320 0.05670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 61304 42402 18902 82500 38500 44000 62902 LEASE LIABILITIES 183934 183934 X 7131791 1188935 1188935 5942856 62725 62725 6005581 6759136 0 6759136 62725 62725 6821861 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, 2025 AND 2024, THERE WAS NO NET UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED. CONTRIBUTIONS TO THE INSTITUTE ARE DEDUCTIBLE AS PROVIDED IN IRC SECTION 170(B)(1)(A)(VI). THE FUND IS A LIMITED LIABILITY COMPANY, AND TREATED AS A DISREGARDED ENTITY FOR TAX PURPOSES; THEREFORE, IT HAS THE SAME IRC SECTION 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 POSITIONS AND CONCLUDED THAT THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 1 ALABAMA STATE UNIVERSITY 915 SOUTH JACKSON STREET MONTGOMERY AL 36104 636001101 501(C)(3) 20000 0 HELPS PROGRAM BLUEFIELD STATE UNIVERSITY 219 ROCK STREET BLUEFIELD WV 24701 556000751 501(C)(3) 10000 0 HELPS PROGRAM CLAFLIN UNIVERSITY 400 MAGNOLIA ST ORANGEBURG SC 29115 570314374 501(C)(3) 100000 0 BROADBAND PROGRAM ELIZABETH CITY STATE UNIVERSITY FOUNDATION 1704 WEEKSVILLE RD ELIZABETH CITY NC 27909 237115345 501(C)(3) 10000 0 HELPS PROGRAM FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON ROAD FAYETTEVILLE NC 28301 561238736 501(C)(3) 10000 0 HELPS PROGRAM ILISAGVIK COLLEGE 100 STEVENSON STREET BLDG 360 BARROW AK 99723 920158414 501(C)(3) 10000 0 HELPS PROGRAM LAC COURTE OREILLES OJIBWE UNIVERSITY 13466 W TREPANIA RD HAYWARD WI 54843 391453493 501(C)(3) 10000 0 HELPS PROGRAM LINCOLN UNIVERSITY 1570 BALTIMORE PIKE LINCOLN UNIVERSITY PA 19352 231352655 501(C)(3) 31000 0 HELPS PROGRAM MOREHOUSE COLLEGE 830 WESTVIEW DR SW ATLANTA GA 30314 580566205 501(C)(3) 38578 0 HELPS PROGRAM RED LAKE NATION COLLEGE 15480 MIGIZI DR RED LAKE MN 56671 263031521 501(C)(3) 10000 0 HELPS PROGRAM SELMA UNIVERSITY 1501 BOYNTON STREET SELMA AL 36701 630367461 501(C)(3) 19996 0 HELPS PROGRAM TEXAS SOUTHERN UNIVERSITY 3100 CLEBURNE STREET HOUSTON TX 77004 746001391 501(C)(3) 50100 0 HELPS PROGRAM TUSKEGEE UNIVERSITY 1200 WEST MONTGOMERY ROAD TUSKEGEE AL 36088 630288878 501(C)(3) 9849 0 HELPS PROGRAM UC RIVERSIDE FOUNDATION 900 UNIVERSITY AVENUE 1136 HINDERAKER HALL RIVERSIDE CA 92521 237433570 501(C)(3) 25000 0 HELPS PROGRAM VIRGINIA UNION UNIVERSITY 1500 N LOMBARDY ST RICHMOND VA 23220 540524516 501(C)(3) 20000 0 HELPS PROGRAM VOORHEES UNIVERSITY 1897 VOORHEES ROAD DENMARK SC 29042 570329786 501(C)(3) 10000 0 HELPS PROGRAM WILBERFORCE UNIVERSITY 1055 NO BICKETT ROAD WILBERFORCE OH 45384 310604719 501(C)(3) 10000 0 HELPS PROGRAM 17 0 ARTIFICIAL INTELLIGENCE HACKATHON WINNER 8 21666 FREEDOM VIDEO COMPETITION - WINNERS 3 20500 STUDENT INVESTMENTS PROGRAM (SIPS) 500 500000 X 0 0 0 0 0 0 0 0 0 BARRY CYNAMON DIRECTOR OF PROGRAM DESIGN 203780 0 0 0 0 0 12780 0 42727 0 259287 0 0 0 MICHELE MCCULLOM GENERAL COUNSEL & SECRETARY 207040 0 0 0 0 0 11492 0 13444 0 231976 0 0 0 RONALD CROZIER CHIEF SECURITY OFFICER 182925 0 0 0 0 0 11336 0 35497 0 229758 0 0 0 GREGG MITCHELL DIRECTOR OF PHILANTHROPY 167411 0 0 0 0 0 10500 0 41197 0 219108 0 0 0 YVETTE THOMAS DIRECTOR OF CAPACITY BUILDING 187216 0 0 0 0 0 11295 0 10698 0 209209 0 0 0 KENNETH LUZZATTO PROJECT MANAGER 166473 0 0 0 0 0 8372 0 12602 0 187447 0 0 0 MARK BROWN EXECUTIVE DIRECTOR 158693 0 0 0 0 0 0 0 118 0 158811 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 "THE CEO" IS ALSO AN EMPLOYEE OF VISTA EQUITY PARTNERS, OWNED BY THE CHAIR OF THE BOD. 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 1,099,118. MANAGEMENT AND GENERAL EXPENSES 63,840. FUNDRAISING EXPENSES 161,134. TOTAL EXPENSES 1,324,092. STUDENT FREEDOM FUND 633 PENNSYLVANIA AVE NW FL 5 WASHINGTON DC 20004 884314074 FACILITATE THE ADMINISTRATION OF THE STUDENT FREEDOM AGREEMENTS DC 10227996 16627765 STUDENT FREEDOM INITIATIVE TUITION EZ LLC 633 PENNSYLVANIA AVE NW FL 5 WASHINGTON DC 20004 331631628 TO SUPPORT FUNDRAISING THROUGH CONCERTS DC 4000000 3841747 STUDENT FREEDOM INITIATIVE