Freas Foundation Inc

Glen Allen, VA
Tax-exempt since June 1953
EIN: 22-1714810

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This organization is not listed in the IRS's most recent list of tax exempt organizations, but we have data associated with this Employer Identification Number.

Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Revenue

$36.8k (2023)

Expenses

$4.4M (2023)

Total Assets

$0 (2023)

Total Liabilities

$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$36,819

Expenses

$4,402,454

Net Income

-$4,365,635

Net Assets

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$23,770	64.6%
Sales of Assets	$13,049	35.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,386,500	99.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$0
Total Liabilities	$0
Net Assets	$0

Compensation

Key Employees and Officers	Compensation	Other
Donald Arthur Freas (President & Ceo)	$0	$0
Lawrence Huston Freas (Treasurer)	$0	$0
Nancy Freas Pratt (Vice President)	$0	$0
Susan Freas Magargee (Secretary)	$0	$0

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990-PF

Filed on Jan. 30, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$256,177

Expenses

$267,637

Net Income

-$11,460

Net Assets

$4,277,017

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$95,179	37.2%
Sales of Assets	$160,998	62.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$238,746	89.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,277,017
Total Liabilities	$0
Net Assets	$4,277,017

Compensation

Key Employees and Officers	Compensation	Other
Donald Arthur Freas (President & Ceo)	$0	$0
Lawrence Huston Freas (Treasurer)	$0	$0
Nancy Freas Pratt (Vice President)	$0	$0
Susan Freas Magargee (Secretary)	$0	$0

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990-PF

Filed on May 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$317,304

Expenses

$222,800

Net Income

$94,504

Net Assets

$4,960,611

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$111,460	35.1%
Sales of Assets	$205,844	64.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$203,618	91.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,960,611
Total Liabilities	$0
Net Assets	$4,960,611

Compensation

Key Employees and Officers	Compensation	Other
Donald Arthur Freas (President & Ceo)	$0	$0
Lawrence Huston Freas (Treasurer)	$0	$0
Nancy Freas Pratt (Vice President)	$0	$0
Susan Freas Magargee (Secretary)	$0	$0

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990-PF

Filed on May 13, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$3,400

Expenses

$201,047

Net Income

-$197,647

Net Assets

$4,586,550

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$109,596	> 100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$164,804	82.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,586,551
Total Liabilities	$1
Net Assets	$4,586,550

Compensation

Key Employees and Officers	Compensation	Other
Donald Arthur Freas (President & Ceo)	$0	$0
Lawrence Huston Freas (Treasurer)	$0	$0
Nancy Freas Pratt (Vice President)	$0	$0
Susan Freas Magargee (Secretary)	$0	$0

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990-PF

Filed on May 7, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$1,818,193

Expenses

$216,615

Net Income

$1,601,578

Net Assets

$4,353,214

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$89,823	4.9%
Sales of Assets	$1,728,370	95.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$201,885	93.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,353,215
Total Liabilities	$1
Net Assets	$4,353,214

Compensation

Key Employees and Officers	Compensation	Other
Donald Arthur Freas (President & Ceo)	$0	$0
Lawrence Huston Freas (Treasurer)	$0	$0
Nancy Freas Pratt (Vice President)	$0	$0
Susan Freas Magargee (Secretary)	$0	$0

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990-PF

Filed on May 29, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$184,406

Expenses

$220,805

Net Income

-$36,399

Net Assets

$3,115,594

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$95,657	51.9%
Sales of Assets	$88,749	48.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$196,025	88.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,115,594
Total Liabilities	$0
Net Assets	$3,115,594

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on May 2, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$219,120

Expenses

$209,333

Net Income

$9,787

Net Assets

$3,151,995

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$87,572	40.0%
Sales of Assets	$131,548	60.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$190,849	91.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,151,995
Total Liabilities	$0
Net Assets	$3,151,995

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on May 10, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2016

Revenue

$176,701

Expenses

$214,074

Net Income

-$37,373

Net Assets

$3,142,202

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$74	0.0%
Dividends	$85,217	48.2%
Sales of Assets	$91,338	51.7%
Other Income	$72	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$196,089	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,142,202
Total Liabilities	$0
Net Assets	$3,142,202

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on April 21, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$246,575

Expenses

$222,079

Net Income

$24,496

Net Assets

$3,171,888

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$205	0.1%
Dividends	$79,725	32.3%
Sales of Assets	$158,716	64.4%
Other Income	$7,929	3.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$199,800	90.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,171,888
Total Liabilities	$0
Net Assets	$3,171,888

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on May 6, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$248,642

Expenses

$207,292

Net Income

$41,350

Net Assets

$3,147,391

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$149	0.1%
Dividends	$80,450	32.4%
Sales of Assets	$168,043	67.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$181,954	87.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,147,391
Total Liabilities	$0
Net Assets	$3,147,391

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on May 8, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$275,990

Expenses

$187,127

Net Income

$88,863

Net Assets

$3,106,042

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$153	0.1%
Dividends	$81,547	29.5%
Sales of Assets	$193,841	70.2%
Other Income	$449	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$170,676	91.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,106,042
Total Liabilities	$0
Net Assets	$3,106,042

Compensation

Key Employees and Officers	Compensation	Other
Lawrence Freas (Treasurer)	$0	$0
Nancy Pratt (Vice President)	$0	$0
Susan Magargee (Secretary)	$0	$0
Donald Freas (President)	$0	$0

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990-PF

Filed on May 9, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$143,962

Expenses

$184,408

Net Income

-$40,446

Net Assets

$3,017,181

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$151	0.1%
Dividends	$90,540	62.9%
Sales of Assets	$53,271	37.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$162,337	88.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,017,182
Total Liabilities	$1
Net Assets	$3,017,181

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$309,837

Expenses

$176,831

Net Income

$133,006

Net Assets

$3,060,430

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$259	0.1%
Dividends	$78,992	25.5%
Sales of Assets	$230,586	74.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$152,297	86.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,060,431
Total Liabilities	$1
Net Assets	$3,060,430

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Updated August 21, 2025

Freas Foundation Inc

Organization summary

Organization summary might be incomplete or out of date

Type of Nonprofit

Summary charts: organization finances over time

Revenue $36.8k (2023)

Expenses $4.4M (2023)

Total Assets $0 (2023)

Total Liabilities $0 (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

Revenue

$36.8k (2023)

Expenses

$4.4M (2023)

Total Assets

$0 (2023)

Total Liabilities

$0 (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001