2024-10-10T13:22:36-05:00 2023-12-31 521073331 DEMBO JONES PC 6116 EXECUTIVE BLVD SUITE 500 NORTH BETHESDA MD 20852 990 2023-01-01 743160646 THE FREE STATE FOUNDATION INC FREE 3012993182 10701 STAPLEFORD HALL DRIVE POTOMAC MD 20854 RANDOLPH J MAY PRESIDENT 3012993182 2024-10-09 1 0 BRENT A CROGHAN CPA P00846741 3017705100 2023 2024-10-15 13:58:12Z RANDOLPH J MAY 10701 STAPLEFORD HALL DRIVE POTOMAC MD 20854 1639002 0 X WWW.FREESTATEFOUNDATION.ORG X 2005 MD THE FOUNDATION'S PRIMARY PURPOSE IS TO PROMOTE, THROUGH RESEARCH AND EDUCATIONAL ACTIVITIES,UNDERSTANDING OF FREE MARKET, LIMITED GOVERNMENT, AND RULE OF LAW PRINCIPLES AT THE FEDERAL LEVEL AND IN MARYLAND. THE FOUNDATION FOCUSES ON EDUCATING POLICYMAKERS, OPINION LEADERS, THE PRESS, AND GENERAL PUBLIC CONCERNING THE NEED TO ELIMINATE UNNECESSARY AND COUNTERPRODUCTIVE REGULATORY MANDATES, ESPECIALLY THOSE APPLICABLE TO THE COMMUNICATIONS AND OTHER HIGH-TECH INDUSTRIES, AND ON REDUCING OVERLY BURDENSOME TAXES, PROTECTING INDIVIDUAL RIGHTS, ECONOMIC LIBERTY, AND PROPERTY RIGHTS, AND MAKING GOVERNMENT MORE EFFECTIVE, EFFICIENT, AND ACCOUNTABLE. 5 3 5 0 0 0 1167105 1199535 0 0 52792 142180 60 0 1219957 1341715 0 0 0 0 1085231 1099358 0 0 29214 106102 125375 1191333 1224733 28624 116982 3306788 3720992 74965 78164 3231823 3642828 X THE FREE STATE FOUNDATION'S PRIMARY PURPOSE IS TO PROMOTE, THROUGH RESEARCH AND EDUCATIONAL ACTIVITIES, UNDERSTANDING OF FREE MARKET, LIMITED GOVERNMENT, AND RULE OF LAW PRINCIPLES AT THE FEDERAL LEVEL AND IN MARYLAND. THE FOUNDATION FOCUSES ON EDUCATING POLICYMAKERS, OPINION LEADERS, THE PRESS, AND THE GENERAL PUBLIC CONCERNING THE NEED TO ELIMINATE UNNECESSARY AND COUNTERPRODUCTIVE REGULATORY MANDATES, ESPECIALLY THOSE APPLICABLE TO THE COMMUNICATIONS AND OTHER HIGH-TECH INDUSTRIES, AND ON REDUCING OVERLY BURDENSOME TAXES, PROTECTING INDIVIDUAL RIGHTS, ECONOMIC LIBERTY, AND PROPERTY RIGHTS, AND MAKING GOVERNMENT MORE EFFECTIVE, EFFICIENT, AND ACCOUNTABLE. 0 0 1056405 COMMUNICATIONS LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT, THE FOUNDATION'S LARGEST, IS TO REFORM COMMUNICATIONS AND INTERNET LAW AND POLICY TO CONFORM TO THE DYNAMIC TECHNOLOGICAL AND COMPETITIVE MARKETPLACE REALITIES OF THE DIGITAL AGE. DURING 2023, THE FOUNDATION PUBLISHED 52 ARTICLES AND SCHOLARLY STUDIES AS PART OF ITS "PERSPECTIVES FROM FSF SCHOLARS" SERIES. IT PUBLISHED 139 SEPARATE BLOGS. FOUNDATION SCHOLARS WERE PUBLISHED AND QUOTED OFTEN IN MAJOR NATIONAL PUBLICATIONS AND TWO OR THREE TIMES WEEKLY IN LEADING TRADE PRESS PUBLICATIONS. FSF ALSO FILED 9 SETS OF SUBSTANTIVE PUBLIC COMMENTS IN AGENCY RULEMAKING AND POLICY PROCEEDINGS, INCLUDING AT THE FEDERAL COMMUNICATIONS COMMISSION, FEDERAL TRADE COMMISSION, AND THE NATIONAL TELECOMMUNICATIONS AND INFORMATION ADMINISTRATION. IN JANUARY 2023, MR. MAY PARTICIPATED AS A PANELIST IN A FEDERALIST SOCIETY DISCUSSION OF SECTION 230 OF THE COMMUNICATION DECENCY ACT. IN FEBRUARY 2023, FSF PRESIDENT RANDOLPH MAY PARTICIPATED IN A FEDERAL COMMUNICATIONS BAR ASSOCIATION ONLINE EVENT ON "RECENT DEVELOPMENTS IN ADMINISTRATIVE LAW FOR THE COMMUNICATIONS INDUSTRY." ON MARCH 28, 2023, FSF HELD ITS FIFTEENTH ANNUAL TELECOM POLICY CONFERENCE WHICH ATTRACTED OVER 120 ATTENDEES AND A DIVERSE GROUP OF DISTINGUISHED SPEAKERS FROM ACADEMIA, SENIOR GOVERNMENT OFFICIALS, INLCUDING FCC AND NTIA LEADERS, PUBLIC INTEREST ORGANIZATIONS, AND INDUSTRY. IN JUNE 2023, FSF'S RANDOLPH MAY MODERATED A FEDERALIST SOCIETY TELECOMMUNICATIONS AND ELECTRONIC MEDIA PRACTICE GROUP ON DIGITAL DISCRIMINATION RULEMAKING, WITH FSF SENIOR FELLOW SETH COOPER ALSO PARTICIPATING. IN NOVEMBER 2023 SETH COOPER PARTICIPATED IN AN ONLINE BROADBAND BREAKFAST EVENT DISCUSSING THE FCC'S DIGITAL DISCRIMINATION ORDER WITH PANELISTS FROM THE BROOKINGS INSTITUTION, PUBLIC KNOWLEDGE, AND THE CENTER FOR TECHNOLOGY INNOVATION. ALL OF THESE FREE STATE FOUNDATION EVENTS WERE OPEN TO THE PUBLIC, WIDELY CONVERED IN THE PRESS, AND VIDEOS OF THE PROCEEDINGS WERE MADE AVAILABLE TO THE PUBLIC. 18045 MARYLAND GOVERNMENT LAW AND REFORM PROJECT: THE GOAL OF THIS PROJECT IS TO CONDUCT RESEARCH AND EDUCATIONAL ACTIVITIES THAT PROMOTE POLICIES FOR MARYLAND THAT ARE CONSISTENT WITH FISCAL DISCIPLINE AND WITH A FREE MARKET, LESS REGULATORY DIRECTION. DURING 2023, FSF CONDUCTED RESEARCH AND PUBLISHED ARTICLES AND COMMENTARIES RELATING TO IMPROVING MARYLAND'S FISCAL, ECONOMIC, AND REGULATORY POLICIES, INCLUDING ITS TECHNOLOGY POLICIES, AND TO REFORMING ITS BUDGET PROCESSES. FREE STATE FOUNDATION SCHOLARS MAINTAIN A BLOG TO INCLUDE COMMENTS ON MARYLAND FISCAL, ECONOMIC, AND REGULATORY ISSUES AND COMPARE MARYLAND TO OTHER STATES WITH REGARD TO THESE ISSUES. DURING 2023, FSF PUBLISHED TWO SEPARATE "PERSPECTIVES FROM FSF SCHOLARS AND THREE BLOGS REGARDING VARIOUS MARYLAND POLICY ISSUES, INCLUDING THE BUDGET, TAXES, AND REGULATORY REFORM. SOME OF THESE PUBLICATIONS COMPARED MARYLAND'S RANKING IN THESE RESPECTS WITH VIRGINIA, OR MORE BROADLY AMONG THE FIFTY STATES. 1074450 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 5 1 0 0 0 0 0 0 0 0 0 0 X 5 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X LAURIE J MAY 3012993182 10701 STAPLEFORD HALL DRIVE POTOMAC MD 20854 RANDOLPH J MAY PRESIDENT 60.00 X X 381498 0 39981 LAURIE J MAY SECRETARY/TREASURER 24.00 X X 120128 0 12629 THOMAS TAUKE BOARD MEMBER 1.00 X 0 0 0 WILLIAM K KEANE BOARD MEMBER 1.00 X 0 0 0 KENNETH HOWARD BOARD MEMBER 1.00 X 0 0 0 ANDREW LONG SENIOR FELLOW 32.00 X 157001 0 19900 SETH COOPER DIRECTOR OF POLICY STUDIES 40.00 X 222082 0 29208 880709 0 101718 4 0 1 0 0 1199535 1199535 125105 125105 314362 297287 17075 17075 17075 1341715 0 0 142180 503584 418089 75423 10072 434058 427450 3304 3304 88318 79401 7357 1560 18798 17969 538 291 54600 49241 4358 1001 13000 13000 7963 7963 1690 1656 34 7924 5290 2634 7180 5600 1220 360 14575 10417 231 3927 4129 525 12 3592 1365 1365 2728 1566 1140 22 FSF HOSTED EVENTS 30657 28250 567 1840 DUES & SUBSCRIPTIONS 14049 10743 3297 9 HONORARIA 10200 10200 PAYROLL PREP. AND ENT. 7954 1068 3684 3202 1961 678 1283 1224733 1074450 121069 29214 66940 75062 1016046 1207863 22563 18904 3859 3659 2219943 2434408 3306788 3720992 74965 78164 74965 78164 X 3231823 3642828 3231823 3642828 3306788 3720992 116982 294023 0 X X 0 1 X 1 0 X 1265813 1039742 722141 1167105 1199535 5394336 1265813 1039742 722141 1167105 1199535 5394336 3421100 1973236 58633 142779 25711 51857 125105 404085 669 279 60 1008 5799429 0.34020 0.35760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22563 18904 3659 3659 MUTUAL FUNDS - LARGE BLEND 13410 F MUTUAL FUNDS - INDEX FUND 376817 F MUTUAL FUNDS - BOND FUND 1158869 F COMMON STOCK 557529 F MUTUAL FUNDS - VALUE FUND 74910 F LARGE GROWTH 252873 F 2434408 X 1635738 294023 294023 1341715 0 1341715 1224733 0 1224733 0 1224733 PART X, LINE 2: THE FOOTNOTES TO THE AUDITED FINANCIAL STATEMENTS CONTAIN A NOTE THAT THERE ARE NO UNCERTAIN TAX POSITIONS UNDER FIN 48. X X X 0 0 0 0 0 0 0 0 0 RANDOLPH J MAY PRESIDENT 350498 0 31000 0 0 0 33000 0 6981 0 421479 0 0 0 SETH COOPER DIRECTOR OF POLICY STUDIES 211332 0 10750 0 0 0 22208 0 7000 0 251290 0 0 0 ANDREW LONG SENIOR FELLOW 150801 0 6200 0 0 0 15700 0 4200 0 176901 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 RANDOLPH J. MAY, THE FOUNDATION'S PRESIDENT, IS MARRIED TO LAURIE J. MAY, THE FOUNDATION'S SECRETARY & TREASURER. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS OF THE FOUNDATION IN ADVANCE WITH AN OPPORTUNITY TO COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION PROVIDES EACH MEMBER OF ITS BOARD WITH A COPY OF ITS POLICY AND DETERMINES, UPON INITIAL APPOINTMENT, THAT NO CONFLICTS EXIST. BOARD MEMBERS ARE REQUIRED TO DISCLOSE TO THE BOARD ANY CHANGES IN THEIR CIRCUMSTANCES WHICH WOULD PRESENT A CONFLICT OR A POTENTIAL CONFLICT. BOARD MEMBERS ARE REQUIRED ANNUALLY TO SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED A COPY OF THE FOUNDATION'S POLICY, HAVE READ AND UNDERSTAND THE POLICY, HAVE AGREED TO COMPLY WITH THE POLICY, AND UNDERSTAND THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION. THE FOUNDATION CONDUCTS A PERIODIC REVIEW TO DETERMINE WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND THE RESULT OF ARMS LENGTH BARGAINING. ONLY INDEPENDENT MEMBERS OF THE BOARD ARE AUTHORIZED TO APPROVE COMPENSATION FOR THE PRESIDENT AND SECRETARY/TREASURER, WHO ALSO SERVE ON THE FOUNDATION'S BOARD. PRIOR TO APPROVAL, THE FOUNDATION'S BOARD ALSO REVIEWS PROPOSED MATERIAL CONTRACTS/AGREEMENTS FOR POTENTIAL CONFLICTS AND CONFORMANCE WITH FOUNDATION POLICIES TO ENSURE THAT SUCH AGREEMENTS FURTHER ITS CHARITABLE PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION'S BOARD MEETS TO REVIEW THE COMPENSATION OF THE PRESIDENT ON AT LEAST AN ANNUAL BASIS AND TO DISCUSS AND EVALUATE HIS PERFORMANCE AND THE FOUNDATION'S ACCOMPLISHMENTS. THE INDEPENDENT BOARD MEMBERS (WITHOUT THE PRESIDENT AND SECRETARY/TREASURER PRESENT) CONVENE TOGETHER IN A SPECIAL BOARD MEETING TO MAKE COMPENSATION DECISIONS FOR THE FOUNDATION PRESIDENT. IN ADDITION TO REVIEWING NORMAL INDICATORS OF PERFORMANCE, THEIR ASSESSMENT INCLUDES A REVIEW OF SALARIES/BENEFITS AT OTHER COMPARABLE NON-PROFITS AND IT IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE SPECIAL MEETING. THE FOUNDATION'S PRESIDENT AND SECRETARY/TREASURER ARE NOT PRESENT AT THIS MEETING AND ARE NOT INVOLVED IN THE DECISION MAKING PROCESS. SIMILARLY, IN A SEPARATE SPECIAL BOARD MEETING WITHOUT THE PRESIDENT OR SECRETARY/TREASURER PRESENT, THE INDEPENDENT BOARD MEMBERS REVIEW THE PERFORMANCE AND ACCOMPLISHMENTS OF THE SECRETARY/TREASURER IN THE SAME MANNER AND CONTEMPORANEOUSLY DOCUMENT THEIR COMPENSATION DECISION FOR THE COMING YEAR. COMPENSATION PROPOSED FOR THE POTENTIAL NEW EMPLOYEES, OTHER THAN OFFICERS OF THE FOUNDATION, IS DISCUSSED WITH THE BOARD PRIOR TO EMPLOYMENT. FOR EACH PROPOSED HIRE, THE FSF PRESIDENT PROVIDES THE BOARD MEMBERS WITH THE EMPLOYMENT BACKGROUND OF THE JOB CANDIDATE AS WELL AS PROPOSED POSITION/DUTIES, HOURS, AND BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE FOUNDATION'S OFFICES. FORM 990 PART XII LINE 2C - AUDIT OVERSIGHT THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.