Civic Intelligence

Franklin Development Corporation

990 • Fiscal year 2013 • EIN 26-3993888

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 12, 2014

Organization ProfileN/A
70 E Monroe Street46131

(317) 736-5648

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

100th percentile

859%

Higher net margin than 100% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

63rd percentile

$76,350

Higher top officer pay than 63% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

5th percentile

-26%

Faster asset growth than 5% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$3,474,866

Down $1,190,744 (-26%) from 2012

Net Assets

Down

$3,474,866

Down $1,190,744 (-26%) from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

-$138,669

No earlier filing loaded for comparison.

Expenses

Up

$1,052,075

Up $775,135 (+280%) from 2012

Net Income

-$1,190,744

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,023,724Liabilities 2010: $0Net Assets 2010: $3,023,7242010Assets 2011: $4,895,458Liabilities 2011: $0Net Assets 2011: $4,895,4582011Assets 2012: $4,665,610Liabilities 2012: $0Net Assets 2012: $4,665,6102012Assets 2013: $3,474,866Liabilities 2013: $0Net Assets 2013: $3,474,8662013Assets 2014: $1,851,533Liabilities 2014: $8,625Net Assets 2014: $1,842,9082014Assets 2016: $1,817,156Liabilities 2016: $7,997Net Assets 2016: $1,809,1592016Assets 2017: $2,808,994Liabilities 2017: $736,525Net Assets 2017: $2,072,4692017Assets 2018: $2,287,451Liabilities 2018: $665,106Net Assets 2018: $1,622,3452018Assets 2019: $2,360,749Liabilities 2019: $965,184Net Assets 2019: $1,395,5652019Assets 2020: $2,155,411Liabilities 2020: $0Net Assets 2020: $2,155,4112020Assets 2021: $2,130,949Liabilities 2021: $6,000Net Assets 2021: $2,124,9492021Assets 2022: $2,037,375Liabilities 2022: $0Net Assets 2022: $2,037,3752022Assets 2023: $1,814,314Liabilities 2023: $0Net Assets 2023: $1,814,3142023Assets 2024: $1,710,760Liabilities 2024: $70,762Net Assets 2024: $1,639,9982024

Highlighted filing

2013

Assets$3,474,866
Liabilities$0
Net Assets$3,474,866
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $324,3762010Expenses 2011: $366,5522011Expenses 2012: $276,9402012Revenue 2013: -$138,669Expenses 2013: $1,052,075Net Income 2013: -$1,190,7442013Revenue 2014: $70,707Expenses 2014: $1,644,660Net Income 2014: -$1,573,9532014Revenue 2016: $361,397Expenses 2016: $199,120Net Income 2016: $162,2772016Revenue 2017: $548,991Expenses 2017: $285,681Net Income 2017: $263,3102017Revenue 2018: $433,105Expenses 2018: $883,229Net Income 2018: -$450,1242018Revenue 2019: $343,865Expenses 2019: $570,645Net Income 2019: -$226,7802019Revenue 2020: $108,106Expenses 2020: $255,260Net Income 2020: -$147,1542020Revenue 2021: $140,219Expenses 2021: $170,682Net Income 2021: -$30,4632021Revenue 2022: $157,781Expenses 2022: $245,355Net Income 2022: -$87,5742022Revenue 2023: -$43,297Expenses 2023: $179,764Net Income 2023: -$223,0612023Revenue 2024: $76,801Expenses 2024: $259,472Net Income 2024: -$182,6712024

Highlighted filing

2013

Revenue-$138,669
Expenses$1,052,075
Net Income-$1,190,744
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 12, 2014
Return Version
2013v3.1
Gross Receipts
$21,858
Mission and Program Overview

Mission

The mission of the franklin development corporation is community betterment primarily through economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,646,054$2,281,866▼ $1,364,188
Other Notes and Loans Receivable, Net$462,558$457,969▼ $4,589
Cash and Non-Interest-Bearing Accounts$95,921$320,671▲ $224,750
Land, Buildings, and Equipment, Net$33,733--
Prepaid Expenses and Deferred Charges$2,784--
Total Assets$4,665,610$3,474,866▼ $1,190,744
Other Assets Total$424,560$414,360▼ $10,200
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$5,000,000$5,000,000→ $0
Unrestricted Net Assets$-334,390$-1,525,134▼ $1,190,744
Total Net Assets Fund Balance$4,665,610$3,474,866▼ $1,190,744
Total Liabilities and Net Assets / Fund Balance$4,665,610$3,474,866▼ $1,190,744

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$17,966--
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig D WellsPresident anFT$76,350-$76,350
Craig D WellsPresident and CEO-$50,900$25,450$76,350

Board Members and Trustees

NameTitle
Krista LinkeComm Dev Director
Robert H SchafstallFdc Board at
John DitmarsActing Presi
John WalesActing Secre
Angela CoyActing Treas
Lisa JonesCity Council
Steve WoodsRed Comm App
Revenue and Support

Revenue Composition

Contributions and Grants
$1
Program Service Revenue
$0
Investment Income
$-141,212
Other Revenue
$2,542
All Other Contributions
$1
Change in Net Assets
$-1,190,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$898,650
Other Expenses$96,981
Salaries, Compensation, and Employee Benefits$56,444
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$898,650--$898,650
Current Officers, Directors, Trustees, and Key Employees-$50,900-$50,900
Fees for Services Legal-$30,600-$30,600
Fees for Services Accounting-$12,350-$12,350
Occupancy-$7,116-$7,116
Payroll Taxes-$4,980-$4,980
All Other Expenses-$4,615-$4,615
Advertising-$2,854-$2,854
Other Expenses$2,918$2,520-$2,520
Office Expenses-$1,867-$1,867
Depreciation Depletion$1,632--$1,632
Fees for Services Other$1,190--$1,190
Other Salaries and Wages-$564-$564
Total Functional Expenses$904,390$147,685$0$1,052,075
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request. The annual report is available on the company's website.”

Filing and Contact Details

Filer

EIN
26-3993888

Signing Officer

Name
Angela Coy
Title
Treasurer
Signed
2014-11-12

Organization Details

Principal Officer
Angela Coy
Formed
2009
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Preparer
C Allen Anderson CPA
Phone
3177366500
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The mission of the franklin development corporation is community betterment primarily through economic development.”

Form 990, Part XI, Line 9

“Change in restricted accounts 0”

Raw XML Appendix394 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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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DIRECT INVESTMENT LOANS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RLF LOANS IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DF LOANS IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4HOUSE
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0414360
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt025000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt178672
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt2219812
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt325428
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt418179
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt518389
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt6513170
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0RLF GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1DOWNTOWN FUND - GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2CRLF - COMM REV LOAN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3RFP PROGRAM
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4DRMG - DOWNTOWN FACADE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt5DIRECT INVESTMENTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt6DIRECT INV PROJECT EXP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt12
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt22
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt33
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt43
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt52
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt68
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt050900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt025450
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CRAIG D WELLS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt076350
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE FRANKLIN DEVELOPMENT CORPORATION IS COMMUNITY BETTERMENT PRIMARILY THROUGH ECONOMIC DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE ANNUAL REPORT IS AVAILABLE ON THE COMPANY'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CHANGE IN RESTRICTED ACCOUNTS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04665610
IRS990/TotalAssetsEOYAmt03474866
IRS990/TotalAssetsGrp/BOYAmt04665610
IRS990/TotalAssetsGrp/EOYAmt03474866
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0147685
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0904390
IRS990/TotalFunctionalExpensesGrp/TotalAmt01052075
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04665610
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03474866
IRS990/TotalOtherProgSrvcExpenseAmt0904390
IRS990/TotalOtherProgSrvcGrantAmt0898650
IRS990/TotalProgramServiceExpensesAmt0904390
IRS990/TotalReportableCompFromOrgAmt076350
IRS990/TotalRevenueGrp/ExclusionAmt021857
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-160527
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-138669
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04665610
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03474866
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-334390
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1525134
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1070 E MONROE STREET
IRS990/USAddress/City0FRANKLIN
IRS990/USAddress/State0IN
IRS990/USAddress/ZIPCode046131
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ANGELA COY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine10FRANKLIN DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0263993888
ReturnHeader/Filer/USAddress/AddressLine1070 E MONROE STREET
ReturnHeader/Filer/USAddress/City0FRANKLIN
ReturnHeader/Filer/USAddress/State0IN
ReturnHeader/Filer/USAddress/ZIPCode046131
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274221070
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10JONES HOSKINS & ANDERSON CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10460 N MORTON ST STE E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0FRANKLIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode046131
ReturnHeader/PreparerPersonGrp/PhoneNum03177366500
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0C ALLEN ANDERSON CPA
ReturnHeader/ReturnTs02014-11-13T12:14:06-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,474,866
Liabilities
$0
Net assets
$3,474,866
Revenue
-$138,669
Expenses
$1,052,075
Net income
-$1,190,744
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.07$1.64$0.08$0.26$0.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.00$1.81$0.04$0.18$0.22
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$0.00$2.04$0.16$0.25$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.01$2.12$0.14$0.17$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.16$0.00$2.16$0.11$0.26$0.15
2019Detailed filing. Detailed filing data is available for this year.$2.36$0.97$1.40$0.34$0.57$0.23
2018Detailed filing. Detailed filing data is available for this year.$2.29$0.67$1.62$0.43$0.88$0.45
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.81$0.74$2.07$0.55$0.29$0.26
2016Detailed filing. Detailed filing data is available for this year.$1.82$0.01$1.81$0.36$0.20$0.16
2014Detailed filing. Detailed filing data is available for this year.$1.85$0.01$1.84$0.07$1.64$1.57
2013Detailed filing. Detailed filing data is available for this year.$3.47$0.00$3.47$0.14$1.05$1.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.67$0.00$4.67$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.90$0.00$4.90$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.02$0.00$3.02$0.32