Civic Intelligence

Franklin Academy Incorporated

990 • Fiscal year 2017 • EIN 22-3843855

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 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

1.27x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

1.85x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

26th percentile

-3.8%

Higher net margin than 26% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

80th percentile

$221,638

Higher top officer pay than 80% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

20th percentile

-3.6%

Faster asset growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-6.0%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$9,707,112

Down $362,955 (-3.6%) from 2016

Net Assets

Down

-$2,657,840

Down $250,514 (-10%) from 2016

Liabilities

Down

$12,364,952

Down $112,441 (-0.9%) from 2016

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin26th percentile

Revenue

Down

$6,671,854

Down $426,048 (-6.0%) from 2016

Expenses

Up

$6,922,368

Up $124,567 (+1.8%) from 2016

Net Income

Down

-$250,514

Down $550,615 (-183%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2017

Assets$9,707,112
Liabilities$12,364,952
Net Assets-$2,657,840
Open 2017 Filing

Operations Trend

Revenue Growth23rd 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

2017

Revenue$6,671,854
Expenses$6,922,368
Net Income-$250,514
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$6,671,854
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$9,409,149$9,261,819▼ $147,330
Cash and Non-Interest-Bearing Accounts$263,318$166,866▼ $96,452
Accounts Receivable$108,750$134,794▲ $26,044
Loans From Officers Directors-$100,000-
Prepaid Expenses and Deferred Charges$159,732$47,218▼ $112,514
Other Notes and Loans Receivable, Net$13,000$13,000→ $0
Pledges and Grants Receivable$4,000$10,000▲ $6,000
Intangible Assets$7,572$7,182▼ $390
Inventories for Sale or Use$1,038$688▼ $350
Total Assets$10,070,067$9,707,112▼ $362,955
Other Assets Total$103,508$65,545▼ $37,963
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,727,765$9,901,622▲ $173,857
Deferred Revenue$2,564,310$2,256,573▼ $307,737
Accounts Payable and Accrued Expenses$144,543$74,975▼ $69,568
Other Liabilities$40,775$31,782▼ $8,993
Total Liabilities$12,477,393$12,364,952▼ $112,441
Net Assets / Fund Balance
Temporarily Rstr Net Assets$42,150$12,150▼ $30,000
Unrestricted Net Assets$-2,449,476$-2,669,990▼ $220,514
Total Net Assets Fund Balance$-2,407,326$-2,657,840▼ $250,514
Total Liabilities and Net Assets / Fund Balance$10,070,067$9,707,112▼ $362,955

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,343,489$702,390$6,045,879
Leasehold Improvements$2,933,629$1,052,571$3,986,200
Land$826,885-$826,885
Equipment$129,114$527,613$656,727
Other Land Buildings$28,702$591,606$620,308
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
A Fred WeissbachHead of SchoFT$201,550$20,088$221,638
A Fred WeissbachHead of School-$201,550$20,088$221,638
Seymore HaysAsst Head ofFT$116,786$19,982$136,768
Cynthia PopeAdmissions DFT$122,500$9,658$132,158
Mary MurphyDevelopmentFT$119,500$11,537$131,037
Leland BarsomOperations DFT$109,500$10,314$119,814
Rebecca HaysClinical DirectorFT$101,238$2,984$104,222

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$388,353
Revenue and Support

Revenue Composition

Contributions and Grants
$76,583
Program Service Revenue
$6,574,805
Investment Income
$0
Other Revenue
$20,466
All Other Contributions
$76,583
Change in Net Assets
$-250,514

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,671,854
Total Revenue per Audited Statements
$6,671,854
Total Revenue per Form 990
$6,671,854
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,281,667
Other Expenses$2,640,701
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,867,095$861,158-$2,728,253
Other Employee Benefits$660,932$378,866-$1,039,798
All Other Expenses$487,582$10,128-$497,710
Interest-$457,470-$457,470
Depreciation Depletion$366,937--$366,937
Payroll Taxes$141,220$80,951-$222,171
Current Officers, Directors, Trustees, and Key Employees-$215,020-$215,020
Insurance$115,817$22,294-$138,111
Other Expenses$112,171--$112,171
Advertising-$99,785-$99,785
Pension Plan Contributions$52,331$24,094-$76,425
Information Technology$28,049$28,050-$56,099
Fees for Services Accounting-$20,770-$20,770
Office Expenses-$15,350-$15,350
Fees for Services Other-$2,882-$2,882
Fees for Services Legal-$2,298-$2,298
Travel$2,191--$2,191
Total Functional Expenses$4,703,252$2,219,116$0$6,922,368

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,922,368
Total Expenses per Audited Statements$6,922,368
Total Expenses per Form 990$6,922,368
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$20,466
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
School Auction$20,466$20,466-$20,466
Total Events$20,466$20,466-$20,466
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$45,850

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Capital Lease$31,782
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
2018-05-15

Organization Details

Principal Officer
Henry Schreiber
Formed
2001
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
5
Employees
82

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/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6HEAD OF SCHO
IRS990/Form990PartVIISectionAGrp/TitleTxt7ADMISSIONS D
IRS990/Form990PartVIISectionAGrp/TitleTxt8DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9ASST HEAD OF
IRS990/Form990PartVIISectionAGrp/TitleTxt10OPERATIONS D
IRS990/Form990PartVIISectionAGrp/TitleTxt11CLINICAL DIR
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IRS990/FormationYr02001
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
IRS990/FundraisingGrossIncomeAmt020466
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt06671854
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt028050
IRS990/InformationTechnologyGrp/ProgramServicesAmt028049
IRS990/InformationTechnologyGrp/TotalAmt056099
IRS990/InsuranceGrp/ManagementAndGeneralAmt022294
IRS990/InsuranceGrp/ProgramServicesAmt0115817
IRS990/InsuranceGrp/TotalAmt0138111
IRS990/IntangibleAssetsGrp/BOYAmt07572
IRS990/IntangibleAssetsGrp/EOYAmt07182
IRS990/InterestGrp/ManagementAndGeneralAmt0457470
IRS990/InterestGrp/TotalAmt0457470
IRS990/InventoriesForSaleOrUseGrp/BOYAmt01038
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0688
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt035
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02874180
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09409149
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09261819
IRS990/LandBldgEquipCostOrOtherBssAmt012135999
IRS990/LegalDomicileStateCd0CT
IRS990/LoanOutstandingInd0true
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt0100000
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/BOYAmt09727765
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt09901622
IRS990/NetAssetsOrFundBalancesBOYAmt0-2407326
IRS990/NetAssetsOrFundBalancesEOYAmt0-2657840
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt020466
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt05140
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt015350
IRS990/OfficeExpensesGrp/TotalAmt015350
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0103508
IRS990/OtherAssetsTotalGrp/EOYAmt065545
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0378866
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0660932
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01039798
IRS990/OtherExpensesGrp/Desc0KITCHEN SVCS,FOOD,SUPPLIE
IRS990/OtherExpensesGrp/Desc1DISCOUNTS/SCHOLARSHIPS
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
IRS990/OtherExpensesGrp/ProgramServicesAmt0377526
IRS990/OtherExpensesGrp/ProgramServicesAmt1336269
IRS990/OtherExpensesGrp/ProgramServicesAmt2155132
IRS990/OtherExpensesGrp/ProgramServicesAmt3112171
IRS990/OtherExpensesGrp/TotalAmt0377526
IRS990/OtherExpensesGrp/TotalAmt1336269
IRS990/OtherExpensesGrp/TotalAmt2155132
IRS990/OtherExpensesGrp/TotalAmt3112171
IRS990/OtherLiabilitiesGrp/BOYAmt040775
IRS990/OtherLiabilitiesGrp/EOYAmt031782
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0861158
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01867095
IRS990/OtherSalariesAndWagesGrp/TotalAmt02728253
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt013000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt013000
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt080951
IRS990/PayrollTaxesGrp/ProgramServicesAmt0141220
IRS990/PayrollTaxesGrp/TotalAmt0222171
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt024094
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt052331
IRS990/PensionPlanContributionsGrp/TotalAmt076425
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt04000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt010000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0159732
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt047218
IRS990/PrincipalOfficerNm0HENRY SCHREIBER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1MISC. SCHOOL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06572320
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12485
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06572320
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12485
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0119694
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt02519737
IRS990/PYOtherRevenueAmt022623
IRS990/PYProgramServiceRevenueAmt06955585
IRS990/PYRevenuesLessExpensesAmt0300101
IRS990/PYSalariesCompEmpBnftPaidAmt04278064
IRS990/PYTotalExpensesAmt06797801
IRS990/PYTotalRevenueAmt07097902
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-250514
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06574805
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/BookValueAmt05343489
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0702390
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06045879
IRS990ScheduleD/EquipmentGrp/BookValueAmt0129114
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0527613
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0656727
IRS990ScheduleD/ExpensesSubtotalAmt06922368
IRS990ScheduleD/LandGrp/BookValueAmt0826885
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0826885
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02933629
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01052571
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03986200
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt028702
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0591606
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0620308
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031782
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt06671854
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09261819
IRS990ScheduleD/TotalExpensesPerForm990Amt06922368
IRS990ScheduleD/TotalLiabilityAmt031782
IRS990ScheduleD/TotalRevenuePerForm990Amt06671854
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06671854
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06922368
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/GrossReceiptsEvent1Amt020466
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt020466
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt020466
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt020466
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt020466
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/HousingAllowanceOrResidenceInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0201550
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt05903
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt014185
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0A FRED WEISSBACH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0HEAD OF SCHOOL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0221638
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

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,707,112
Liabilities
$12,364,952
Net assets
-$2,657,840
Revenue
$6,671,854
Expenses
$6,922,368
Net income
-$250,514
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
2017Detailed filing. Detailed filing data is available for this year.$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