New Hampshire · Nonprofit
FREE STATE PROJECT INC
FREE STATE PROJECT INC (New Hampshire) receives grants from 6 organizations whose IRS filings report $212,895 to it, the largest being Endaoment Inc ($98,192). 3 of them have funded it in more than one year, and 99% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2025
- $506k
- Funders on record
- 6
- Grants received
- $213k
- Net assets
- $150k
What Free State Project Inc does
Mission
The mission of the free state project ("fsp") is to educate the public about the benefits of limited government and how they can best be achieved in the state of new hampshire.
As stated on its FY2025 Form 990.
Program
Free State Project Increased its outreach to various individuals and organizations by providing education and information about its mission primarily through its two major programs - liberty forum and porcupine festival.
$348,074 spent$177,656 earned by the program100% of program spending
The program described on its FY2025 Form 990. Program spending in total: $348,074.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $62k to $237k (+283%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
65% of FREE STATE PROJECT INC’s revenue is contributions — about as donation-reliant as the typical peer (84% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 6 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Eric Brakey
Executive director
As listed on its FY2025 Form 990.
The chief executive listed changed between the FY2019 and FY2020 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 1 funder to 2 funders, grant income rose $500 → $3k.
4 of 6 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 99% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of FREE STATE PROJECT INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
FREE STATE PROJECT INC leans on a few funders — its largest provides 46% of grant income and the top three 94%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
99% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund FREE STATE PROJECT INC.
Largest funder’s share by year: 2017 100% · 2018 100% · 2019 72% · 2020 92% · 2021 100% · 2022 74% · 2023 83% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
99% of FREE STATE PROJECT INC's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $2k that is directly attributable, 100% of it comes from funders outside New Hampshire, across 2 states.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $211k arriving through sponsors registered in 4 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
FREE STATE PROJECT INC has grown faster than half of the 1,934 public benefit nonprofits its size.
this organization peer median middle 50% of peers· 1,934 public benefit nonprofits $100k–$1M, FY2025
Organizations like FREE STATE PROJECT INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In New Hampshire
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
67% of spending goes to programs.
Governance
Public support
83%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for FREE STATE PROJECT INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds FREE STATE PROJECT INC?
- FREE STATE PROJECT INC (New Hampshire) receives grants from 6 organizations whose IRS filings report $212,895 to it, the largest being Endaoment Inc ($98,192). 3 of them have funded it in more than one year, and 99% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does FREE STATE PROJECT INC have?
- IRS filings report 6 organizations giving $212,895 in grants to FREE STATE PROJECT INC, 3 of which have funded it in more than one year.
- Who is the largest funder of FREE STATE PROJECT INC?
- Endaoment Inc is the largest funder on record, with $98,192 in grants. The full list of funders is on this page.
- How can an organization like FREE STATE PROJECT INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in New Hampshire. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Free State Project →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 6 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing