Civic Intelligence

Franklin-Southampton Economic Development Inc.

990 • Fiscal year 2023 • EIN 13-4311862

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 30, 2024

Organization ProfileWWW.FRANKLINSOUTHAMPTONVA.COM
601 N Mechanic Street 300Franklin, VA 23851

(757) 562-1958

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.01x

Higher debt load relative to assets than 32% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.04x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

18th percentile

-16%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

62nd percentile

$87,550

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 22.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

24th percentile

-3.7%

Faster asset growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

31st percentile

-4.4%

Faster revenue growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$1,240,197

Down $47,729 (-3.7%) from 2022

Net Assets

Down

$1,225,874

Down $62,028 (-4.8%) from 2022

Liabilities

Up

$14,323

Up $14,299 (+59579%) from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin18th percentile

Revenue

Down

$388,962

Down $17,803 (-4.4%) from 2022

Expenses

Down

$450,990

Down $27,466 (-5.7%) from 2022

Net Income

Up

-$62,028

Up $9,663 (+13%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,229,665Liabilities 2011: $0Net Assets 2011: $1,229,6652011Assets 2012: $1,186,018Liabilities 2012: $0Net Assets 2012: $1,186,0182012Assets 2013: $1,251,580Liabilities 2013: $0Net Assets 2013: $1,251,5802013Assets 2014: $1,417,099Liabilities 2014: $40,311Net Assets 2014: $1,376,7882014Assets 2015: $1,517,547Liabilities 2015: $67,503Net Assets 2015: $1,450,0442015Assets 2016: $1,525,929Liabilities 2016: $47,903Net Assets 2016: $1,478,0262016Assets 2017: $1,435,605Liabilities 2017: $13,415Net Assets 2017: $1,422,1902017Assets 2018: $1,430,307Liabilities 2018: $25,941Net Assets 2018: $1,404,3662018Assets 2019: $1,406,337Liabilities 2019: $31,195Net Assets 2019: $1,375,1422019Assets 2021: $1,359,596Liabilities 2021: $3Net Assets 2021: $1,359,5932021Assets 2022: $1,287,926Liabilities 2022: $24Net Assets 2022: $1,287,9022022Assets 2023: $1,240,197Liabilities 2023: $14,323Net Assets 2023: $1,225,8742023Assets 2024: $1,197,978Liabilities 2024: $18,479Net Assets 2024: $1,179,4992024Assets 2025: $1,093,648Liabilities 2025: $27,736Net Assets 2025: $1,065,9122025

Highlighted filing

2023

Assets$1,240,197
Liabilities$14,323
Net Assets$1,225,874
Open 2023 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $487,0322011Expenses 2012: $447,9172012Expenses 2013: $350,0282013Revenue 2014: $478,496Expenses 2014: $353,288Net Income 2014: $125,2082014Revenue 2015: $458,863Expenses 2015: $385,607Net Income 2015: $73,2562015Revenue 2016: $443,999Expenses 2016: $416,017Net Income 2016: $27,9822016Revenue 2017: $436,903Expenses 2017: $492,739Net Income 2017: -$55,8362017Revenue 2018: $448,307Expenses 2018: $466,131Net Income 2018: -$17,8242018Revenue 2019: $446,275Expenses 2019: $475,499Net Income 2019: -$29,2242019Revenue 2021: $703,357Expenses 2021: $596,732Net Income 2021: $106,6252021Revenue 2022: $406,765Expenses 2022: $478,456Net Income 2022: -$71,6912022Revenue 2023: $388,962Expenses 2023: $450,990Net Income 2023: -$62,0282023Revenue 2024: $449,138Expenses 2024: $495,513Net Income 2024: -$46,3752024Revenue 2025: $438,136Expenses 2025: $551,723Net Income 2025: -$113,5872025

Highlighted filing

2023

Revenue$388,962
Expenses$450,990
Net Income-$62,028
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$388,962
Mission and Program Overview

Mission

47to diversify the economy, create high quality jobs, and provide a future for the families and youth of franklin and southampton county.

To promote, market, and oversee development activities for the city of franklin and southampton county

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,283,531$1,219,548▼ $63,983
Land, Buildings, and Equipment, Net$3,003$5,305▲ $2,302
Prepaid Expenses and Deferred Charges$1,088$1,088→ $0
Other Notes and Loans Receivable, Net$304--
Total Assets$1,287,926$1,240,197▼ $47,729
Other Assets Total$0$14,256▲ $14,256
Liabilities
Other Liabilities$0$14,256▲ $14,256
Accounts Payable and Accrued Expenses$24$67▲ $43
Total Liabilities$24$14,323▲ $14,299
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,272,902$1,210,874▼ $62,028
Net Assets With Donor Restrictions$15,000$15,000→ $0
Total Net Assets Fund Balance$1,287,902$1,225,874▼ $62,028
Total Liabilities and Net Assets / Fund Balance$1,287,926$1,240,197▼ $47,729

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,305$90,900$96,205
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karl HeckPresidentFT$85,000$2,550$87,550

Board Members and Trustees

NameTitle
Meghan CouncillChairman
Brian HedgepethVice Chairman
Marshall RabilDirector
Will HoltDirector
Robert PopeSecretary
Harriet Bain DuckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$378,000
Program Service Revenue
$0
Investment Income
$10,362
Other Revenue
$600
All Other Contributions
$178,000
Change in Net Assets
$-62,028

Audited Revenue Reconciliation

Revenue per Audited Statements
$388,962
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$388,962
Total Revenue per Form 990
$388,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$257,767
Other Expenses$193,223
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$122,920--$122,920
Current Officers, Directors, Trustees, and Key Employees$63,750$21,250-$85,000
Other Employee Benefits$24,594$3,352-$27,946
Travel$27,374--$27,374
Advertising$22,261--$22,261
Fees for Services Other-$20,868-$20,868
Payroll Taxes$14,402$1,963-$16,365
Office Expenses$7,386$7,386-$14,772
Occupancy-$14,256-$14,256
Pension Plan Contributions$4,871$665-$5,536
Other Expenses$5,000$7,262-$5,000
All Other Expenses$4,850--$4,850
Conferences and Meetings$1,840$1,840-$3,680
Insurance$1,815$1,815-$3,630
Depreciation Depletion$1,954--$1,954
Information Technology$1,560--$1,560
Total Functional Expenses$370,333$80,657$0$450,990

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$450,990
Total Expenses per Audited Statements$450,990
Total Expenses per Form 990$450,990
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$14,256
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization's audit committee reviews the form 990 prior to its filing.”

Form 990, Part VI, Section B, Line 12C

“Directors sign statements annually regarding compliance with the organization's conflict of interest policy.”

Form 990, Part VI, Section B, Line 15A

“On an annual basis the board reviews and approves the compensation of the organization's president.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Franklin Southampton Economic
EIN
13-4311862
Phone
7575621958
Address
601 N MECHANIC STREET 300, FRANKLIN, VA 23851

Signing Officer

Name
Karl Heck
Title
President
Phone
7575621958
Signed
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karl Heck
Formed
2005
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
6
Employees
4
Volunteers
0

Preparer

Firm
Cavanaugh Nelson Plc
Address
999 WATERSIDE DRIVE SUITE 2250, NORFOLK, VA 23510
Preparer
Mark a Nelson
Phone
7575784900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization's management has evaluated the impact of fasb asc 740 to its financial statements and is not aware of any material uncertain tax positions as of june 30, 2023. The organization's annual tax returns (form 990) are generally subject to examination by authorities for a period of three years from the date they are filed and consequently, the organization's tax returns filed for the years ended june 30, 2022, 2021, and 2020 remain subject to examination.”

Raw XML AppendixShowing 400 of 420 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt024
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt067
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROMOTE, MARKET, AND OVERSEE DEVELOPMENT ACTIVITIES FOR THE CITY OF FRANKLIN AND SOUTHAMPTON COUNTY
IRS990/AdvertisingGrp/ProgramServicesAmt022261
IRS990/AdvertisingGrp/TotalAmt022261
IRS990/AllOtherContributionsAmt0178000
IRS990/AllOtherExpensesGrp/ProgramServicesAmt04850
IRS990/AllOtherExpensesGrp/TotalAmt04850
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum07575621958
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0601 N MECHANIC STREET 300
IRS990/BooksInCareOfDetail/USAddress/CityNm0FRANKLIN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023851
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt021250
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt063750
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt085000
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt01840
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt01840
IRS990/ConferencesMeetingsGrp/TotalAmt03680
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0378000
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt010362
IRS990/CYOtherExpensesAmt0193223
IRS990/CYOtherRevenueAmt0600
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-62028
IRS990/CYSalariesCompEmpBnftPaidAmt0257767
IRS990/CYTotalExpensesAmt0450990
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0388962
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt01954
IRS990/DepreciationDepletionGrp/TotalAmt01954
IRS990/Desc0ACTIVITES TO PROMOTE THE ECONOMIC VITALITY OF FRANKLIN AND SOUTHAMPTON COUNTY INCLUDING:MARKET THE COMMUNITY'S ASSETS TO ATTACT NEW BUSINESSES WITH CAPITAL INVESTMENT AND OPPORTUNITIES FOR JOB CREATION, INCLUDING COORDINATING LOCAL AND STATE INCENTIVE PROGRAMS. PROVIDE TECHINCAL TRAINING AND ASSITANCE TO EXISTING BUSINESSES, INCLUDING OPERATION OF THE FRANKLIN BUSINESS CENTER. DEVELOP PROGRAMS TO FOSTER SMALL BUSINESS GROWTH AND ENTREPRENEURSHIP. CREATE AN ATMOSPHERE TO FOSTER TOURISM THAT WILL TAKE ADVANTAGE OF THE COMMUNITY'S EXISTING NATURAL AND HISTORIC ASSETS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt015000
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt015000
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt04
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0370333
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt020868
IRS990/FeesForServicesOtherGrp/TotalAmt020868
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form1098CFiledInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form8899Filedind00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt640.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt62550
IRS990/Form990PartVIISectionAGrp/PersonNm0MARSHALL RABIL
IRS990/Form990PartVIISectionAGrp/PersonNm1HARRIET BAIN DUCK
IRS990/Form990PartVIISectionAGrp/PersonNm2MEGHAN COUNCILL
IRS990/Form990PartVIISectionAGrp/PersonNm3ROBERT POPE
IRS990/Form990PartVIISectionAGrp/PersonNm4BRIAN HEDGEPETH
IRS990/Form990PartVIISectionAGrp/PersonNm5WILL HOLT
IRS990/Form990PartVIISectionAGrp/PersonNm6KARL HECK
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt685000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02005
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GovernmentGrantsAmt0200000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0388962
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt01560
IRS990/InformationTechnologyGrp/TotalAmt01560
IRS990/InsuranceGrp/ManagementAndGeneralAmt01815
IRS990/InsuranceGrp/ProgramServicesAmt01815
IRS990/InsuranceGrp/TotalAmt03630
IRS990/InvestmentIncomeGrp/ExclusionAmt010362
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt010362
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt090900
IRS990/LandBldgEquipBasisNetGrp/BOYAmt03003
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05305
IRS990/LandBldgEquipCostOrOtherBssAmt096205
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO DIVERSIFY THE ECONOMY, CREATE HIGH QUALITY JOBS, AND PROVIDE A FUTURE FOR THE FAMILIES AND YOUTH OF FRANKLIN AND SOUTHAMPTON COUNTY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01287902
IRS990/NetAssetsOrFundBalancesEOYAmt01225874
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01272902
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01210874
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt014256
IRS990/OccupancyGrp/TotalAmt014256
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07386
IRS990/OfficeExpensesGrp/ProgramServicesAmt07386
IRS990/OfficeExpensesGrp/TotalAmt014772
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt014256
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03352
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt024594
IRS990/OtherEmployeeBenefitsGrp/TotalAmt027946
IRS990/OtherExpensesGrp/Desc0SPECIAL PROJECTS
IRS990/OtherExpensesGrp/Desc1HREDA MEMBERSHIP
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc3DONATIONS/CONTRIBUTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07262
IRS990/OtherExpensesGrp/ProgramServicesAmt036318
IRS990/OtherExpensesGrp/ProgramServicesAmt129438
IRS990/OtherExpensesGrp/ProgramServicesAmt25000
IRS990/OtherExpensesGrp/TotalAmt036318
IRS990/OtherExpensesGrp/TotalAmt129438
IRS990/OtherExpensesGrp/TotalAmt27262
IRS990/OtherExpensesGrp/TotalAmt35000
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt014256
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0600
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0600
IRS990/OtherRevenueTotalAmt0600
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0122920
IRS990/OtherSalariesAndWagesGrp/TotalAmt0122920
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0304
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01963
IRS990/PayrollTaxesGrp/ProgramServicesAmt014402
IRS990/PayrollTaxesGrp/TotalAmt016365
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0665
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt04871
IRS990/PensionPlanContributionsGrp/TotalAmt05536
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01088
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01088
IRS990/PrincipalOfficerNm0KARL HECK
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0377000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt016007
IRS990/PYOtherExpensesAmt0227849
IRS990/PYOtherRevenueAmt013758
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-71691
IRS990/PYSalariesCompEmpBnftPaidAmt0250607
IRS990/PYTotalExpensesAmt0478456
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0406765
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-62028
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01283531
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01219548
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0378000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0377000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0694785
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0445000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0432000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02326785
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt010361
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt016007
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt07939
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt013977
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt014170
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt062454
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0600
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt013758
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0633
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01452
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0105
IRS990ScheduleA/OtherIncome170Grp/TotalAmt016548
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.58600
IRS990ScheduleA/PublicSupportPY170Pct00.59700
IRS990ScheduleA/PublicSupportTotal170Amt01409865
IRS990ScheduleA/SubstantialContributorsTotAmt0916920
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0378000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0377000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0694785
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0445000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0432000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02326785
IRS990ScheduleA/TotalSupportAmt02405787
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt05305
IRS990ScheduleD/EquipmentGrp/DepreciationAmt090900
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt096205
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0450990
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014256
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0388962
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MANAGEMENT HAS EVALUATED THE IMPACT OF FASB ASC 740 TO ITS FINANCIAL STATEMENTS AND IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023. THE ORGANIZATION'S ANNUAL TAX RETURNS (FORM 990) ARE GENERALLY SUBJECT TO EXAMINATION BY AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED AND CONSEQUENTLY, THE ORGANIZATION'S TAX RETURNS FILED FOR THE YEARS ENDED JUNE 30, 2022, 2021, AND 2020 REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05305
IRS990ScheduleD/TotalExpensesPerForm990Amt0450990
IRS990ScheduleD/TotalLiabilityAmt014256
IRS990ScheduleD/TotalRevenuePerForm990Amt0388962
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0388962
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0450990
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS SIGN STATEMENTS ANNUALLY REGARDING COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ON AN ANNUAL BASIS THE BOARD REVIEWS AND APPROVES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01287926
IRS990/TotalAssetsEOYAmt01240197
IRS990/TotalAssetsGrp/BOYAmt01287926
IRS990/TotalAssetsGrp/EOYAmt01240197
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0378000
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt080657
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0370333
IRS990/TotalFunctionalExpensesGrp/TotalAmt0450990
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024
IRS990/TotalLiabilitiesEOYAmt014323
IRS990/TotalLiabilitiesGrp/BOYAmt024
IRS990/TotalLiabilitiesGrp/EOYAmt014323
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01287902
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01225874
IRS990/TotalOtherCompensationAmt02550
IRS990/TotalProgramServiceExpensesAmt0370333
IRS990/TotalReportableCompFromOrgAmt085000
IRS990/TotalRevenueGrp/ExclusionAmt010362
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0600
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0388962
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01287926
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01240197
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt027374
IRS990/TravelGrp/TotalAmt027374
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0601 N MECHANIC STREET SUITE 300
IRS990/USAddress/CityNm0FRANKLIN
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023851
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.FRANKLINSOUTHAMPTONVA.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KARL HECK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07575621958
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN SOUTHAMPTON ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0134311862
ReturnHeader/Filer/PhoneNum07575621958

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,240,197
Liabilities
$14,323
Net assets
$1,225,874
Revenue
$388,962
Expenses
$450,990
Net income
-$62,028
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.09$0.03$1.07$0.44$0.55$0.11
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.02$1.18$0.45$0.50$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.24$0.01$1.23$0.39$0.45$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.41$0.48$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.00$1.36$0.70$0.60$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.41$0.03$1.38$0.45$0.48$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.03$1.40$0.45$0.47$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.44$0.01$1.42$0.44$0.49$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.53$0.05$1.48$0.44$0.42$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.52$0.07$1.45$0.46$0.39$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.42$0.04$1.38$0.48$0.35$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.00$1.25$0.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.00$1.19$0.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.00$1.23$0.49