Civic Intelligence

Franklin Academy Incorporated

990 • Fiscal year 2018 • EIN 22-3843855

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

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

1.32x

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

1.92x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

21st percentile

-7.0%

Higher net margin than 21% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

80th percentile

$222,640

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

42nd percentile

-0.1%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

39th percentile

0.3%

Faster revenue growth than 39% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$9,701,035

Down $6,077 (-0.1%) from 2017

Net Assets

Down

-$3,122,840

Down $465,000 (-17%) from 2017

Liabilities

Up

$12,823,875

Up $458,923 (+3.7%) from 2017

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin21st percentile

Revenue

Up

$6,689,342

Up $17,488 (+0.3%) from 2017

Expenses

Up

$7,154,342

Up $231,974 (+3.4%) from 2017

Net Income

Down

-$465,000

Down $214,486 (-86%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2018

Assets$9,701,035
Liabilities$12,823,875
Net Assets-$3,122,840
Open 2018 Filing

Operations Trend

Revenue Growth39th 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

2018

Revenue$6,689,342
Expenses$7,154,342
Net Income-$465,000
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$6,689,342
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$9,261,819$9,193,328▼ $68,491
Loans From Officers Directors$100,000$200,000▲ $100,000
Prepaid Expenses and Deferred Charges$47,218$186,570▲ $139,352
Cash and Non-Interest-Bearing Accounts$166,866$136,982▼ $29,884
Accounts Receivable$134,794$118,020▼ $16,774
Other Notes and Loans Receivable, Net$13,000--
Intangible Assets$7,182$6,565▼ $617
Pledges and Grants Receivable$10,000$1,000▼ $9,000
Inventories for Sale or Use$688$286▼ $402
Total Assets$9,707,112$9,701,035▼ $6,077
Other Assets Total$65,545$58,284▼ $7,261
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,901,622$9,694,182▼ $207,440
Deferred Revenue$2,256,573$2,825,675▲ $569,102
Accounts Payable and Accrued Expenses$74,975$62,140▼ $12,835
Other Liabilities$31,782$21,878▼ $9,904
Unsecured Notes Loans Payable-$20,000-
Total Liabilities$12,364,952$12,823,875▲ $458,923
Net Assets / Fund Balance
Temporarily Rstr Net Assets$12,150$29,650▲ $17,500
Unrestricted Net Assets$-2,669,990$-3,152,490▼ $482,500
Total Net Assets Fund Balance$-2,657,840$-3,122,840▼ $465,000
Total Liabilities and Net Assets / Fund Balance$9,707,112$9,701,035▼ $6,077

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,188,466$857,413$6,045,879
Leasehold Improvements$2,951,506$1,175,591$4,127,097
Land$826,885-$826,885
Equipment$242,631$573,737$816,368
Other Land Buildings$-16,160$636,468$620,308
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
A Fred WeissbachHead of SchoFT$201,550$21,090$222,640
A Fred WeissbachHead of School-$201,550$21,090$222,640
Cynthia PopeAdmissions DFT$121,500$9,654$131,154
Mary MurphyDevelopmentFT$118,500$11,788$130,288
Rebecca HaysClinical DirectorFT$104,983$19,595$124,578
Leland BarsomOperations DFT$108,500$10,895$119,395
Seymore HaysAsst Head ofFT$115,786$3,531$119,317

Board Members and Trustees

NameTitle
Henry SchreiberChairman
Belinda BrennanBoard Member
David YoungBoard Member
Jeffrey DryfoosBoard Member
Kevin LockerbieBoard Member
Lawrence FennBoard Member
Michelle PetrykBoard Member
Nancy AltschulerBoard Member
Mary Ellen KlinckSecretary
Robert SherlockTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Dining ServicesDining Services1402 YORK ROAD, Lutherville, MD 21093$416,666
Revenue and Support

Revenue Composition

Contributions and Grants
$106,802
Program Service Revenue
$6,553,679
Investment Income
$0
Other Revenue
$28,861
All Other Contributions
$106,802
Change in Net Assets
$-465,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,689,342
Total Revenue per Audited Statements
$6,689,342
Total Revenue per Form 990
$6,689,342
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,443,181
Other Expenses$2,711,161
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,917,136$895,752-$2,812,888
Other Employee Benefits$704,951$403,489-$1,108,440
All Other Expenses$477,420$10,892-$488,312
Interest-$471,055-$471,055
Depreciation Depletion$374,146--$374,146
Payroll Taxes$150,817$86,322-$237,139
Current Officers, Directors, Trustees, and Key Employees-$207,453-$207,453
Advertising-$148,451-$148,451
Insurance$103,693$19,870-$123,563
Other Expenses$81,921--$81,921
Pension Plan Contributions$52,891$24,370-$77,261
Information Technology$35,589$35,590-$71,179
Fees for Services Accounting-$21,952-$21,952
Office Expenses-$19,076-$19,076
Fees for Services Legal-$5,883-$5,883
Fees for Services Other-$3,425-$3,425
Travel$1,638--$1,638
Total Functional Expenses$4,800,762$2,353,580$0$7,154,342

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,154,342
Total Expenses per Audited Statements$7,154,342
Total Expenses per Form 990$7,154,342
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$28,861
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
School Auction$28,861$28,861-$28,861
Total Events$28,861$28,861-$28,861
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$51,800
Mary MurphyKey EmployeeRental of PropertyNo$18,000
Tom Rebecca HaysKey EmployeesRental of PropertyNo$18,000

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$100,000$200,000▲ $100,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$21,878
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
2018-11-14

Organization Details

Principal Officer
Henry Schreiber
Formed
2001
Legal Domicile
Ct
Voting Board Members
10
Independent Board Members
10
Employees
84

Preparer

Firm
COMER & COMPANY CPA'S LLC
Address
61 MAIN STREET, MIDDLETOWN, CT 06457-3408
Preparer
Thomas D Comer CPA
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/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15104983
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10HEAD OF SCHO
IRS990/Form990PartVIISectionAGrp/TitleTxt11ADMISSIONS D
IRS990/Form990PartVIISectionAGrp/TitleTxt12DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13ASST HEAD OF
IRS990/Form990PartVIISectionAGrp/TitleTxt14OPERATIONS D
IRS990/Form990PartVIISectionAGrp/TitleTxt15CLINICAL DIR
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02001
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
IRS990/FundraisingGrossIncomeAmt028861
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt06689342
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt035590
IRS990/InformationTechnologyGrp/ProgramServicesAmt035589
IRS990/InformationTechnologyGrp/TotalAmt071179
IRS990/InsuranceGrp/ManagementAndGeneralAmt019870
IRS990/InsuranceGrp/ProgramServicesAmt0103693
IRS990/InsuranceGrp/TotalAmt0123563
IRS990/IntangibleAssetsGrp/BOYAmt07182
IRS990/IntangibleAssetsGrp/EOYAmt06565
IRS990/InterestGrp/ManagementAndGeneralAmt0471055
IRS990/InterestGrp/TotalAmt0471055
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0688
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0286
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt030
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03243209
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09261819
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09193328
IRS990/LandBldgEquipCostOrOtherBssAmt012436537
IRS990/LegalDomicileStateCd0CT
IRS990/LoanOutstandingInd0true
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt0100000
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt0200000
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/MortgNotesPyblScrdInvstPropGrp/BOYAmt09901622
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt09694182
IRS990/NetAssetsOrFundBalancesBOYAmt0-2657840
IRS990/NetAssetsOrFundBalancesEOYAmt0-3122840
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt028861
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt019076
IRS990/OfficeExpensesGrp/TotalAmt019076
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt065545
IRS990/OtherAssetsTotalGrp/EOYAmt058284
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0403489
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0704951
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01108440
IRS990/OtherExpensesGrp/Desc0KITCHEN SVCS,FOOD,SUPPLIE
IRS990/OtherExpensesGrp/Desc1DISCOUNTS/SCHOLARSHIPS
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3TRANSPORTATION EXPENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt0398501
IRS990/OtherExpensesGrp/ProgramServicesAmt1323200
IRS990/OtherExpensesGrp/ProgramServicesAmt2178859
IRS990/OtherExpensesGrp/ProgramServicesAmt381921
IRS990/OtherExpensesGrp/TotalAmt0398501
IRS990/OtherExpensesGrp/TotalAmt1323200
IRS990/OtherExpensesGrp/TotalAmt2178859
IRS990/OtherExpensesGrp/TotalAmt381921
IRS990/OtherLiabilitiesGrp/BOYAmt031782
IRS990/OtherLiabilitiesGrp/EOYAmt021878
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0895752
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01917136
IRS990/OtherSalariesAndWagesGrp/TotalAmt02812888
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt013000
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt086322
IRS990/PayrollTaxesGrp/ProgramServicesAmt0150817
IRS990/PayrollTaxesGrp/TotalAmt0237139
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt024370
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt052891
IRS990/PensionPlanContributionsGrp/TotalAmt077261
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt010000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt047218
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0186570
IRS990/PrincipalOfficerNm0HENRY SCHREIBER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1MISC. SCHOOL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06542225
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111454
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06542225
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt111454
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt076583
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt02640701
IRS990/PYOtherRevenueAmt020466
IRS990/PYProgramServiceRevenueAmt06574805
IRS990/PYRevenuesLessExpensesAmt0-250514
IRS990/PYSalariesCompEmpBnftPaidAmt04281667
IRS990/PYTotalExpensesAmt06922368
IRS990/PYTotalRevenueAmt06671854
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-465000
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06553679
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt05188466
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0857413
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06045879
IRS990ScheduleD/EquipmentGrp/BookValueAmt0242631
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0573737
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0816368
IRS990ScheduleD/ExpensesSubtotalAmt07154342
IRS990ScheduleD/LandGrp/BookValueAmt0826885
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0826885
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02951506
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01175591
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt04127097
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0-16160
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0636468
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0620308
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt06689342
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09193328
IRS990ScheduleD/TotalExpensesPerForm990Amt07154342
IRS990ScheduleD/TotalLiabilityAmt021878
IRS990ScheduleD/TotalRevenuePerForm990Amt06689342
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06689342
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07154342
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/GrossReceiptsEvent1Amt028861
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt028861
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt028861
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt028861
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt028861
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,701,035
Liabilities
$12,823,875
Net assets
-$3,122,840
Revenue
$6,689,342
Expenses
$7,154,342
Net income
-$465,000
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
2018Detailed filing. Detailed filing data is available for this year.$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