Civic Intelligence

The Franklin Institute

EIN 23-1370501 • 501(c)3 • Philadelphia, PA

Profile

In the spirit of inquiry and discovery embodied by benjamin franklin, the mission of the franklin institute is to inspire a passion for learning about science and technology.

222 North 20th StreetPhiladelphia, PA 19103

www.fi.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

30th percentile

0.11x

Higher debt load relative to assets than 30% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

54th percentile

0.50x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

84th percentile

32%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

84th percentile

19%

Faster asset growth than 84% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

83rd percentile

29%

Faster revenue growth than 83% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$226,419,270

Up $36,769,563 (+19%) from 2023

Liabilities

Up

$25,540,580

Up $14,678,452 (+135%) from 2023

Net Assets

Up

$200,878,690

Up $22,091,111 (+12%) from 2023

Revenue

Up

$51,159,403

Up $11,561,567 (+29%) from 2023

Expenses

Up

$34,570,608

Up $3,356,889 (+11%) from 2023

Net Income

Up

$16,588,795

Up $8,204,678 (+98%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $139,331,228Liabilities 2010: $24,539,545Net Assets 2010: $114,791,6832010Assets 2011: $134,182,928Liabilities 2011: $23,587,498Net Assets 2011: $110,595,4302011Assets 2012: $144,372,450Liabilities 2012: $28,905,620Net Assets 2012: $115,466,8302012Assets 2013: $164,434,454Liabilities 2013: $34,940,055Net Assets 2013: $129,494,3992013Assets 2014: $159,972,701Liabilities 2014: $24,974,365Net Assets 2014: $134,998,3362014Assets 2015: $154,930,241Liabilities 2015: $24,259,440Net Assets 2015: $130,670,8012015Assets 2016: $157,007,332Liabilities 2016: $22,461,400Net Assets 2016: $134,545,9322016Assets 2017: $158,974,120Liabilities 2017: $18,467,615Net Assets 2017: $140,506,5052017Assets 2018: $152,099,662Liabilities 2018: $16,620,782Net Assets 2018: $135,478,8802018Assets 2019: $166,266,350Liabilities 2019: $15,565,710Net Assets 2019: $150,700,6402019Assets 2020: $180,641,558Liabilities 2020: $23,660,531Net Assets 2020: $156,981,0272020Assets 2021: $191,202,786Liabilities 2021: $20,412,413Net Assets 2021: $170,790,3732021Assets 2022: $173,411,426Liabilities 2022: $11,110,382Net Assets 2022: $162,301,0442022Assets 2023: $189,649,707Liabilities 2023: $10,862,128Net Assets 2023: $178,787,5792023Assets 2024: $226,419,270Liabilities 2024: $25,540,580Net Assets 2024: $200,878,6902024

Highlighted filing

2024

Assets$226,419,270
Liabilities$25,540,580
Net Assets$200,878,690

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $28,074,8492010Expenses 2011: $28,611,3532011Revenue 2012: $33,561,665Expenses 2012: $32,032,161Net Income 2012: $1,529,5042012Revenue 2013: $35,616,050Expenses 2013: $29,033,090Net Income 2013: $6,582,9602013Revenue 2014: $41,701,560Expenses 2014: $33,957,290Net Income 2014: $7,744,2702014Revenue 2015: $39,788,885Expenses 2015: $36,736,134Net Income 2015: $3,052,7512015Revenue 2016: $38,922,923Expenses 2016: $37,324,038Net Income 2016: $1,598,8852016Revenue 2017: $39,038,335Expenses 2017: $39,781,763Net Income 2017: -$743,4282017Revenue 2018: $40,175,651Expenses 2018: $38,959,955Net Income 2018: $1,215,6962018Revenue 2019: $47,708,877Expenses 2019: $41,662,901Net Income 2019: $6,045,9762019Revenue 2020: $25,055,602Expenses 2020: $26,409,211Net Income 2020: -$1,353,6092020Revenue 2021: $32,040,912Expenses 2021: $24,980,303Net Income 2021: $7,060,6092021Revenue 2022: $36,043,314Expenses 2022: $28,062,151Net Income 2022: $7,981,1632022Revenue 2023: $39,597,836Expenses 2023: $31,213,719Net Income 2023: $8,384,1172023Revenue 2024: $51,159,403Expenses 2024: $34,570,608Net Income 2024: $16,588,7952024

Highlighted filing

2024

Revenue$51,159,403
Expenses$34,570,608
Net Income$16,588,795

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$226$25.5$201$51.2$34.6$16.6
2023Detailed filing. Detailed filing data is available for this year.$190$10.9$179$39.6$31.2$8.38
2022Detailed filing. Detailed filing data is available for this year.$173$11.1$162$36.0$28.1$7.98
2021Detailed filing. Detailed filing data is available for this year.$191$20.4$171$32.0$25.0$7.06
2020Detailed filing. Detailed filing data is available for this year.$181$23.7$157$25.1$26.4$1.35
2019Detailed filing. Detailed filing data is available for this year.$166$15.6$151$47.7$41.7$6.05
2018Detailed filing. Detailed filing data is available for this year.$152$16.6$135$40.2$39.0$1.22
2017Detailed filing. Detailed filing data is available for this year.$159$18.5$141$39.0$39.8$0.74
2016Detailed filing. Detailed filing data is available for this year.$157$22.5$135$38.9$37.3$1.60
2015Detailed filing. Detailed filing data is available for this year.$155$24.3$131$39.8$36.7$3.05
2014Detailed filing. Detailed filing data is available for this year.$160$25.0$135$41.7$34.0$7.74
2013Detailed filing. Detailed filing data is available for this year.$164$34.9$129$35.6$29.0$6.58
2012Summary only. Only limited summary data is available for this year.$144$28.9$115$33.6$32.0$1.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$134$23.6$111$28.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$139$24.5$115$28.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$53,194,360
Mission and Program Overview

Mission

In the spirit of inquiry and discovery embodied by benjamin franklin, the mission of the franklin institute is to inspire a passion for learning about science and technology

In the spirit of inquiry and discovery embodied by benjamin franklin, the mission of the franklin institute is to inspire a passion for learning about science and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$75,155,599$86,917,665▲ $11,762,066
Investments in Publicly Traded Securities$62,015,553$66,186,402▲ $4,170,849
Cash and Non-Interest-Bearing Accounts$16,833,831$22,577,109▲ $5,743,278
Savings and Temporary Cash Investments$4,974,639$17,244,427▲ $12,269,788
Investments Other Securities$15,413,931$16,514,105▲ $1,100,174
Pledges and Grants Receivable$13,895,342$13,127,001▼ $768,341
Accounts Receivable$352,463$2,277,776▲ $1,925,313
Prepaid Expenses and Deferred Charges$1,000,996$1,574,785▲ $573,789
Total Assets$189,649,707$226,419,270▲ $36,769,563
Other Assets Total$7,353$0▼ $7,353
Liabilities
Mortgage Notes Payable Secured by Investment Property$0$16,743,000▲ $16,743,000
Accounts Payable and Accrued Expenses$5,345,300$4,733,962▼ $611,338
Tax Exempt Bond Liabilities$4,465,248$2,945,490▼ $1,519,758
Deferred Revenue$1,051,580$1,118,128▲ $66,548
Total Liabilities$10,862,128$25,540,580▲ $14,678,452
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$90,668,797$104,771,327▲ $14,102,530
Net Assets With Donor Restrictions$88,118,782$96,107,363▲ $7,988,581
Total Net Assets Fund Balance$178,787,579$200,878,690▲ $22,091,111
Total Liabilities and Net Assets / Fund Balance$189,649,707$226,419,270▲ $36,769,563

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$52,742,725$51,361,441$104,104,166
Other Land Buildings$18,699,163$36,537,745$55,236,908
Land$12,000,000-$12,000,000
Equipment$3,475,777$4,248,539$7,724,316
Other Securities$55,274--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$62,015,554$39,871▲ $7,456,220$3,325,243$66,186,402
2023$55,594,854$87,429▲ $9,197,760$2,864,489$62,015,554
2022$68,774,865$46,388▼ $11,056,659$2,169,740$55,594,854
2021$62,751,545$94,414▲ $7,932,333$2,003,427$68,774,865
2020$54,587,165$801,003▲ $8,953,625$1,590,248$62,751,545
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Larry DubinskiPresident & CEOFT$693,885$369,704$1,063,589
Darryl WilliamsSVP of Science & Education & HrFT$270,373$70,826$341,199
Abigail ByssheChief Experience & Strategy OfficerFT$244,996$80,696$325,692
Rebekah SassiVP External AffairsFT$225,129$98,332$323,461
Chris RizzoVP of Business OperationsFT$185,224$75,963$261,187
Erin ArmstrongVP Mkt Comm. & Digital MedFT$203,907$50,420$254,327
Mark HarmonVP of OperationsFT$165,414$76,433$241,847
Joseph TorrieriDirector of ItFT$158,416$49,128$207,544
Keith DoughtyVP of FinanceFT$163,167$40,667$203,834
Elbert BlackDirector of FinanceFT$138,517$37,183$175,700
Derrick PittsChief AstronomerFT$132,534$41,555$174,089
Casey SatellDirector of Institutional GivingFT$133,430$37,731$171,161
Janie TsangDirector of MarketingFT$126,016$41,100$167,116
Stefanie SantoDirector of Media Relations & CommunicationsFT$130,532$9,678$140,210

Highest Paid Contractors

ContractorServicesLocationCompensation
Abm Industry Groups LLCJanitorialPO BOX 419860, Boston, MA 02241$1,011,129
Levy Premium Foodservice LPCatering & Food Service980 N MICHIGAN AVE, Chicago, IL 60611$549,101
Harvard Protection Services LLCSecurity ServicesPO BOX 748458, Atlanta, GA 30374$511,714
Ncontext LLCAdvertising8609 WESTWOOD CTR DR STE 110 PMB 1, Tysons Corner, VA 22182$414,300
Universal Protecton Svc LPSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$409,946
Revenue and Support

Revenue Composition

Contributions and Grants
$25,287,814
Program Service Revenue
$21,291,109
Investment Income
$4,062,931
Other Revenue
$517,549
All Other Contributions
$19,485,735
Change in Net Assets
$16,588,795

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded10$193,459Market Value
Total Noncash Contributions10$193,459-

Audited Revenue Reconciliation

Revenue per Audited Statements
$51,159,403
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$6,035,309
Total Revenue per Audited Statements
$57,194,712
Total Revenue per Form 990
$51,159,403
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,842,799
Salaries, Compensation, and Employee Benefits$14,291,771
Total Fundraising Expense$1,834,613
Grants and Similar Amounts Paid$370,683
Professional Fundraising Fees$65,355

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,295,843$1,478,341$177,671$7,951,855
Depreciation Depletion$5,989,816--$5,989,816
Current Officers, Directors, Trustees, and Key Employees$2,122,861$212,718$855,255$3,190,834
Occupancy$2,862,185--$2,862,185
Other Employee Benefits$1,374,457$458,713$141,644$1,974,814
Advertising$1,887,773$24,093-$1,911,866
Fees for Services Other$1,709,717$161,271$2,293$1,873,281
All Other Expenses$883,228$404,858$4,509$1,292,595
Payroll Taxes$589,947$121,028$68,527$779,502
Insurance$708,294$47,733-$756,027
Information Technology$506,942-$54,599$561,541
Office Expenses$356,702$79,370$85,175$521,247
Pension Plan Contributions$298,768$61,293$34,705$394,766
Grants to Domestic Individuals$350,683--$350,683
Travel$282,412$19,126$1,183$302,721
Interest$292,659--$292,659
Fees for Services Legal-$210,080-$210,080
Other Expenses$43,573$109,334$29,735$182,642
Fees for Services Lobbying--$120,600$120,600
Fees for Services Accounting-$73,150-$73,150
Fees for Services Professional Fundraising--$65,355$65,355
Conferences and Meetings$34,324$2,268$3,747$40,339
Foreign Grants$20,000--$20,000
Total Functional Expenses$29,261,528$3,474,467$1,834,613$34,570,608

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$35,103,601
Expenses per Audited Statements$34,570,608
Total Expenses per Form 990$34,570,608
Expenses Not Reported on Form 990$532,993
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$20,000

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North America - Canada and Mexico, But Not the United StatesHonorarium to Laureates Located in Region-00$20,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$532,993
Fundraising Gross Income$169,900
Professional Fundraising Fees$65,355

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Franklin Awards$1,093,100$169,900$274,063$-104,163
Total Events$1,093,100$169,900$532,993$-363,093
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APhiladelphia Authority for Industrial Development2006-03-22$14,095,000Refinanced debt, funding for prior capital projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,265,843-$11,135,000$206,552

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Part VI, Section A, Line 2

Chrisse lillie has a business relationship with michael innocenzo. Karen flynn has a business relationship with donald e. Morel, jr, phd.

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

The audit committee of the board of trustees reviews the draft form 990, and approves the form 990 prior to it being filed with the irs. And, a complete copy of form 990 is provided to the board prior to filing with the irs.

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

The franklin institute board members and senior management staff complete an annual conflict of interest questionnaire and disclosure form which includes acknowledging receipt of, and familiarity with, the institute's code of conduct and ethics policy. In addition, all employees receive the code of conduct and ethics policy approved by the board of trustees. The director of finance reviews the completed annual conflict of interest questionnaires and provides a summary for review by the audit committee.

Form 990, Part VI, Section B, Line 15

Key employees and officers of the franklin insitute in 2024 included the following individuals: larry dubinski, president and ceo rebekah sassi, vice president of external affairs & secretary erin armstrong, vice president of marketing, communications, digital media & asst. Secretary mark harmon, vice president of operations darryl williams, senior vice president of science & education & hr chris rizzo, vice president of business operations abigail bysshe, chief experience & strategy officer keith doughty, vp of finance & treasurer elbert black, director of finance & assistant treasurer the process the franklin institute uses to establish compensation for officers and key employees includes a complete review of executive compensation levels by the compensation committee of the board of trustees of the franklin institute. The review is based on a market analysis prepared by a compensation consulting firm using published compensation surveys for both not-for-profit and for-profit organizations comparable in size to the franklin institute. Compensation decisions are made on two levels: recommendations are made by the president and ceo to the compensation committee for approval of actions regarding the compensation of senior vice presidents and vice presidents. The compensation committee develops recommendations for the president and ceo's compensation and refers its recommendations to the executive committee of the board of trustees for approval.

Form 990, Part VI, Section C, Line 19

The franklin institute's form 990 is posted annually on guidestar.org. The franklin institute publishes an annual report, which includes the audited statement of operations and changes in net assets and the audited statement of financial position. The franklin institute's governing documents, conflict of interest policy, and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
The Franklin Institute
EIN
23-1370501
Phone
2154481200
Address
222 NORTH 20TH STREET, PHILADELPHIA, PA 19103

Signing Officer

Name
Larry Dubinski
Title
President & CEO
Phone
2154481200
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Dubinski
Formed
1824
Legal Domicile
Pa
Voting Board Members
47
Independent Board Members
46
Employees
222
Volunteers
78

Preparer

Firm
Tait Weller & Baker Llp
Address
50 SOUTH 16TH STREET SUITE 2900, PHILADELPHIA, PA 19102
Preparer
Harrison Pereira
Phone
2159798800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Net unrealized gain on interest rate swap 23,241. Net actuarial loss on defined benefit retirement plan 408,411.

Financial Statement Notes

PART III, LINE 1A:

Collection assets of the institute have not been capitalized nor recognized. Collection items are held as historical treasures and are under the stewardship of the institute acting through its president and curatorial staff. The cost of current collection additions to exhibits, books and scientific literature is charged to expense. A portion of such cost may be reimbursed by designated contributed funds and income of net assets with donor restrictions.

PART III, LINE 4:

The historical and interpretive collections of the franklin institute are organized into three types of holdings: museum, archives and library. They each play an instrumental role in educational and public programming through permanent and temporary gallery exhibitions; development initiatives; outreach, marketing and promotional activities; and internet-based presentations.

PART V, LINE 4:

Schedule d, part v, line 4 the endowment funds support a variety of the franklin institute's activities based upon original donor intent. Activities supported include the following: awards program, library, curatorial and collections, museum programs, subsidized admission to the science museum and general operations.

PART X, LINE 2:

Management has reviewed the tax positions for each of the open tax years (2021-2023) or those expected to be taken in the institute's 2024 tax return and has concluded that there are no material uncertain tax positions that would require recognition in the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising event direct expenses 532,993. Net actuarial loss on defined benefit retirement plan 408,411. Net unrealized gain on interest rate swap 23,241.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising event direct expenses 532,993.

Raw XML AppendixShowing 400 of 1,465 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.

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