Civic Intelligence

Franklin Academy Incorporated

990 • Fiscal year 2016 • EIN 22-3843855

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2016

Organization ProfileWWW.FA-CT.ORG

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140 River RdEast Haddam, CT 06423

(860) 873-2700

Siviq Scores

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

Liabilities / Assets

96th percentile

1.24x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

86th percentile

1.76x

Higher debt load relative to revenue than 86% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

57th percentile

4.2%

Higher net margin than 57% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

71st percentile

$246,705

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

97th percentile

103%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

54th percentile

4.1%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$10,070,067

Up $5,110,944 (+103%) from 2015

Net Assets

Up

-$2,407,326

Up $300,101 (+11%) from 2015

Liabilities

Up

$12,477,393

Up $4,810,843 (+63%) from 2015

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin57th percentile

Revenue

Up

$7,097,902

Up $281,326 (+4.1%) from 2015

Expenses

Down

$6,797,801

Down $32,562 (-0.5%) from 2015

Net Income

Up

$300,101

Up $313,888 (+2277%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $4,979,111Liabilities 2011: $9,218,932Net Assets 2011: -$4,239,8212011Assets 2012: $4,968,169Liabilities 2012: $8,424,154Net Assets 2012: -$3,455,9852012Assets 2013: $5,274,559Liabilities 2013: $7,988,490Net Assets 2013: -$2,713,9312013Assets 2014: $4,782,664Liabilities 2014: $7,476,304Net Assets 2014: -$2,693,6402014Assets 2015: $4,959,123Liabilities 2015: $7,666,550Net Assets 2015: -$2,707,4272015Assets 2016: $10,070,067Liabilities 2016: $12,477,393Net Assets 2016: -$2,407,3262016Assets 2017: $9,707,112Liabilities 2017: $12,364,952Net Assets 2017: -$2,657,8402017Assets 2018: $9,701,035Liabilities 2018: $12,823,875Net Assets 2018: -$3,122,8402018Assets 2019: $9,311,916Liabilities 2019: $11,888,823Net Assets 2019: -$2,576,9072019Assets 2020: $9,210,907Liabilities 2020: $11,665,153Net Assets 2020: -$2,454,2462020Assets 2021: $9,116,364Liabilities 2021: $11,399,722Net Assets 2021: -$2,283,3582021Assets 2022: $8,906,853Liabilities 2022: $11,333,100Net Assets 2022: -$2,426,2472022Assets 2023: $9,159,315Liabilities 2023: $11,513,475Net Assets 2023: -$2,354,1602023Assets 2024: $8,634,571Liabilities 2024: $11,549,147Net Assets 2024: -$2,914,5762024

Highlighted filing

2016

Assets$10,070,067
Liabilities$12,477,393
Net Assets-$2,407,326
Open 2016 Filing

Operations Trend

Revenue Growth54th percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $7,081,948Expenses 2011: $6,825,519Net Income 2011: $256,4292011Revenue 2012: $7,187,013Expenses 2012: $7,220,883Net Income 2012: -$33,8702012Revenue 2013: $7,315,927Expenses 2013: $7,224,036Net Income 2013: $91,8912013Revenue 2014: $8,065,837Expenses 2014: $8,045,546Net Income 2014: $20,2912014Revenue 2015: $6,816,576Expenses 2015: $6,830,363Net Income 2015: -$13,7872015Revenue 2016: $7,097,902Expenses 2016: $6,797,801Net Income 2016: $300,1012016Revenue 2017: $6,671,854Expenses 2017: $6,922,368Net Income 2017: -$250,5142017Revenue 2018: $6,689,342Expenses 2018: $7,154,342Net Income 2018: -$465,0002018Revenue 2019: $7,797,679Expenses 2019: $7,251,746Net Income 2019: $545,9332019Revenue 2020: $7,234,432Expenses 2020: $7,111,771Net Income 2020: $122,6612020Revenue 2021: $7,416,320Expenses 2021: $7,245,432Net Income 2021: $170,8882021Revenue 2022: $7,524,694Expenses 2022: $7,667,583Net Income 2022: -$142,8892022Revenue 2023: $8,463,405Expenses 2023: $8,391,318Net Income 2023: $72,0872023Revenue 2024: $7,778,324Expenses 2024: $8,338,740Net Income 2024: -$560,4162024

Highlighted filing

2016

Revenue$7,097,902
Expenses$6,797,801
Net Income$300,101
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2016
Return Version
2015v3.0
Gross Receipts
$7,097,902
Mission and Program Overview

Mission

Franklin academy is an accredited college preparatory boarding school, serving boys and girls in grades 8-12. Franklin creates a community- focused boarding and day school where students with unique learning styles develop and strengthen academic and social competencies vital to the pursuit of college goals, professional aspirations, and fulfilling lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,074,362$9,409,149▲ $5,334,787
Cash and Non-Interest-Bearing Accounts$556,263$263,318▼ $292,945
Prepaid Expenses and Deferred Charges$207,263$159,732▼ $47,531
Accounts Receivable$68,086$108,750▲ $40,664
Other Notes and Loans Receivable, Net$13,000$13,000→ $0
Intangible Assets-$7,572-
Pledges and Grants Receivable-$4,000-
Inventories for Sale or Use$165$1,038▲ $873
Total Assets$4,959,123$10,070,067▲ $5,110,944
Other Assets Total$39,984$103,508▲ $63,524
Liabilities
Other Liabilities$4,476,655$9,768,540▲ $5,291,885
Deferred Revenue$3,063,935$2,564,310▼ $499,625
Accounts Payable and Accrued Expenses$125,960$144,543▲ $18,583
Total Liabilities$7,666,550$12,477,393▲ $4,810,843
Net Assets / Fund Balance
Temporarily Rstr Net Assets$40,762$42,150▲ $1,388
Unrestricted Net Assets$-2,748,189$-2,449,476▲ $298,713
Total Net Assets Fund Balance$-2,707,427$-2,407,326▲ $300,101
Total Liabilities and Net Assets / Fund Balance$4,959,123$10,070,067▲ $5,110,944

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,498,512$547,367$6,045,879
Leasehold Improvements$2,912,399$933,482$3,845,881
Land$826,885-$826,885
Other Land Buildings$76,487$543,821$620,308
Equipment$94,866$482,963$577,829
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
A Fred WeissbachHead of SchoFT$226,617$20,088$246,705
A Fred WeissbachHead of School-$226,617$20,088$246,705
Seymore HaysEducation DiFT$121,688$19,975$141,663
Mary MurphyResidentialFT$124,558$11,477$136,035
Cynthia PopeAdmissions DFT$126,348$9,658$136,006
Leland BarsomOperations DFT$116,286$10,314$126,600

Board Members and Trustees

NameTitle
Henry SchreiberChairman
Steve KreterVice Chairma
David YoungBoard Member
Kevin LockerbieBoard Member
Mary Ellen KlinckSecretary
Robert SherlockTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Dining ServicesDining Services1402 YORK ROAD, Lutherville, MD 21093$373,828
Revenue and Support

Revenue Composition

Contributions and Grants
$119,694
Program Service Revenue
$6,955,585
Investment Income
$0
Other Revenue
$22,623
All Other Contributions
$119,694
Change in Net Assets
$300,101

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,097,902
Total Revenue per Audited Statements
$7,097,902
Total Revenue per Form 990
$7,097,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,278,064
Other Expenses$2,519,737
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,873,705$834,749-$2,708,454
Other Employee Benefits$660,298$374,028-$1,034,326
All Other Expenses$492,314$10,231-$502,545
Depreciation Depletion$306,326--$306,326
Interest-$281,289-$281,289
Current Officers, Directors, Trustees, and Key Employees-$232,520-$232,520
Payroll Taxes$146,279$82,860-$229,139
Occupancy$173,815--$173,815
Insurance$121,506$25,119-$146,625
Other Expenses$109,611--$109,611
Advertising-$74,702-$74,702
Pension Plan Contributions$50,769$22,856-$73,625
Information Technology$19,059$19,059-$38,118
Fees for Services Accounting-$20,723-$20,723
Office Expenses-$18,276-$18,276
Fees for Services Legal-$11,339-$11,339
Fees for Services Other-$2,257-$2,257
Travel$1,005--$1,005
Total Functional Expenses$4,787,793$2,010,008$0$6,797,801

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,797,801
Total Expenses per Audited Statements$6,797,801
Total Expenses per Form 990$6,797,801
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$22,623
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
School Auction$22,623$22,623-$22,623
Total Events$22,623$22,623-$22,623
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Fred WeissbachKey EmployeeRental of PropertyNo$86,100
Josh WeissbachFamily MemberEmploymentNo$39,850
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable$9,727,765
Capital Lease$40,775
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the entire board of trustees prior to the filing of the return.”

Form 990, Page 6, Part VI, Line 12C

“Regular meetings are held where this issue can be discussed.”

Form 990, Page 6, Part VI, Line 15A

“Compensation decisions are determined by the board.”

Form 990, Page 6, Part VI, Line 15B

“Compensation decisions are determined by the board.”

Form 990, Page 6, Part VI, 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
The Franklin Academy Inc
EIN
22-3843855
Phone
8608732700
Address
140 RIVER RD, EAST HADDAM, CT 06423

Signing Officer

Name
A Fred Weissbach
Title
Head of School
Phone
8608732700
Signed
2016-05-12

Organization Details

Principal Officer
Henry Schreiber
Formed
2001
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
5
Employees
85

Preparer

Firm
COMER & COMPANY CPA'S LLC
Address
61 MAIN STREET, MIDDLETOWN, CT 06457-3408
Preparer
Thomas D Comer
Phone
8603462100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Franklin academy is an accredited college preparatory boarding school, serving boys and girls in grades 8-12. Franklin creates a community- focused boarding and day school where students with unique learning styles develop and strengthen academic and social competencies vital to the pursuit of college goals, professional aspirations, and fulfilling lives.”

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IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt05
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt019059
IRS990/InformationTechnologyGrp/ProgramServicesAmt019059
IRS990/InformationTechnologyGrp/TotalAmt038118
IRS990/InsuranceGrp/ManagementAndGeneralAmt025119
IRS990/InsuranceGrp/ProgramServicesAmt0121506
IRS990/InsuranceGrp/TotalAmt0146625
IRS990/IntangibleAssetsGrp/EOYAmt07572
IRS990/InterestGrp/ManagementAndGeneralAmt0281289
IRS990/InterestGrp/TotalAmt0281289
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0165
IRS990/InventoriesForSaleOrUseGrp/EOYAmt01038
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt032
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02507633
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04074362
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09409149
IRS990/LandBldgEquipCostOrOtherBssAmt011916782
IRS990/LegalDomicileStateCd0CT
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BOYS AND GIRLS IN GRADES 8-12. FRANKLIN CREATES A COMMUNITY- FOCUSED BOARDING AND DAY SCHOOL WHERE STUDENTS WITH UNIQUE LEARNING STYLES DEVELOP AND STRENGTHEN ACADEMIC AND SOCIAL COMPETENCIES VITAL TO THE PURSUIT OF COLLEGE GOALS, PROFESSIONAL ASPIRATIONS, AND FULFILLING LIVES.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0-2707427
IRS990/NetAssetsOrFundBalancesEOYAmt0-2407326
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt022623
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0173815
IRS990/OccupancyGrp/TotalAmt0173815
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt018276
IRS990/OfficeExpensesGrp/TotalAmt018276
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt039984
IRS990/OtherAssetsTotalGrp/EOYAmt0103508
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0374028
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0660298
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01034326
IRS990/OtherExpensesGrp/Desc0KITCHEN SVCS,FOOD,SUPPLIE
IRS990/OtherExpensesGrp/Desc1DISCOUNTS/SCHOLARSHIPS
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
IRS990/OtherExpensesGrp/ProgramServicesAmt0374804
IRS990/OtherExpensesGrp/ProgramServicesAmt1307031
IRS990/OtherExpensesGrp/ProgramServicesAmt2151271
IRS990/OtherExpensesGrp/ProgramServicesAmt3109611
IRS990/OtherExpensesGrp/TotalAmt0374804
IRS990/OtherExpensesGrp/TotalAmt1307031
IRS990/OtherExpensesGrp/TotalAmt2151271
IRS990/OtherExpensesGrp/TotalAmt3109611
IRS990/OtherLiabilitiesGrp/BOYAmt04476655
IRS990/OtherLiabilitiesGrp/EOYAmt09768540
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0834749
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01873705
IRS990/OtherSalariesAndWagesGrp/TotalAmt02708454
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt013000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt013000
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt082860
IRS990/PayrollTaxesGrp/ProgramServicesAmt0146279
IRS990/PayrollTaxesGrp/TotalAmt0229139
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt022856
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt050769
IRS990/PensionPlanContributionsGrp/TotalAmt073625
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt04000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0207263
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0159732
IRS990/PrincipalOfficerNm0HENRY SCHREIBER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1MISC. SCHOOL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06935714
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt119871
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06935714
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt119871
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt066955
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0340
IRS990/PYOtherExpensesAmt02522814
IRS990/PYOtherRevenueAmt032500
IRS990/PYProgramServiceRevenueAmt06716781
IRS990/PYRevenuesLessExpensesAmt0-13787
IRS990/PYSalariesCompEmpBnftPaidAmt04307549
IRS990/PYTotalExpensesAmt06830363
IRS990/PYTotalRevenueAmt06816576
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0300101
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06955585
IRS990ScheduleA/SchoolInd0X
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/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt05498512
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0547367
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06045879
IRS990ScheduleD/EquipmentGrp/BookValueAmt094866
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0482963
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0577829
IRS990ScheduleD/ExpensesSubtotalAmt06797801
IRS990ScheduleD/LandGrp/BookValueAmt0826885
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0826885
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02912399
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0933482
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03845881
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt076487
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0543821
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0620308
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09727765
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt140775
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt07097902
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09409149
IRS990ScheduleD/TotalExpensesPerForm990Amt06797801
IRS990ScheduleD/TotalLiabilityAmt09768540
IRS990ScheduleD/TotalRevenuePerForm990Amt07097902
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07097902
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06797801
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE FRANKLIN ACADEMY ADVERTISES ITS POLICY THROUGH SCHOOL PUBLICATIONS, SUCH AS THE ADMISSIONS BROCHURE AND A NEWSLETTER AND THROUGH ITS WEBSITE. IN ALL OF THESE AVENUES OF ADVERTISEMENT THE FOLLOWING STATEMENT APPEARS: "FRANKLIN ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDER, ORIENTATION, OR NATIONAL ORIGIN IN ITS EDUCATIONAL PROGRAMS, ADMISSION AND HIRING POLICIES, OR ANY OF ITS SCHOOL ACTIVITIES."
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SCHOOL AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt022623
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt022623
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt022623
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt022623
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt022623
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/HousingAllowanceOrResidenceInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0226617
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05903
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt014185
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0A FRED WEISSBACH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0HEAD OF SCHOOL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0246705
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0FRED WEISSBACH
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1JOSH WEISSBACH
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0KEY EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1FAMILY MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt086100
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt139850
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENTAL OF PROPERTY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1EMPLOYMENT
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0PART IV: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (1) THE HEADMASTER, A. FRED WEISSBACH, WAS COMPENSATED 86,100 FOR THREE HOUSES HE RENTED TO THE SCHOOL. THESE PROPERTIES INCLUDED THREE HOMES, 50 ACRES OF LAND, A POND AND A BARN. ALL WERE AVAILABLE FOR THE EXCLUSIVE USE OF THE SCHOOL. (2) JOSH WEISSBACH IS A FAMILY MEMBER OF THE HEADMASTER, A. FRED WEISSBACH
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,070,067
Liabilities
$12,477,393
Net assets
-$2,407,326
Revenue
$7,097,902
Expenses
$6,797,801
Net income
$300,101
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.63$11.5$2.91$7.78$8.34$0.56
2023Summary only. Only limited summary data is available for this year.$9.16$11.5$2.35$8.46$8.39$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.91$11.3$2.43$7.52$7.67$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.12$11.4$2.28$7.42$7.25$0.17
2020Summary only. Only limited summary data is available for this year.$9.21$11.7$2.45$7.23$7.11$0.12
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.31$11.9$2.58$7.80$7.25$0.55
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.70$12.8$3.12$6.69$7.15$0.47
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.71$12.4$2.66$6.67$6.92$0.25
2016Detailed filing. Detailed filing data is available for this year.$10.1$12.5$2.41$7.10$6.80$0.30
2015Summary only. Only limited summary data is available for this year.$4.96$7.67$2.71$6.82$6.83$0.01
2014Summary only. Only limited summary data is available for this year.$4.78$7.48$2.69$8.07$8.05$0.02
2013Summary only. Only limited summary data is available for this year.$5.27$7.99$2.71$7.32$7.22$0.09
2012Summary only. Only limited summary data is available for this year.$4.97$8.42$3.46$7.19$7.22$0.03
2011Summary only. Only limited summary data is available for this year.$4.98$9.22$4.24$7.08$6.83$0.26