Civic Intelligence

Franklin Schools Foundation

990 • Fiscal year 2020 • EIN 46-3021440

Jul 01, 2019 to Jun 30, 2020 • Filed on Jul 21, 2022

Organization Profilefranklinschoolsfoundation.org
70 S HoldawayVineyard, UT 84059

(801) 477-0144

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

28th percentile

-10%

Higher net margin than 28% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$32,819

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 13.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

5th percentile

-74%

Faster asset growth than 5% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

-4.9%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$8,995

Down $25,843 (-74%) from 2019

Net Assets

Down

$8,995

Down $25,843 (-74%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin28th percentile

Revenue

Down

$253,083

Down $12,974 (-4.9%) from 2019

Expenses

Up

$278,926

Up $17,306 (+6.6%) from 2019

Net Income

Down

-$25,843

Down $30,280 (-682%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2016: $148,286Liabilities 2016: $336,286Net Assets 2016: -$188,0002016Assets 2017: $30,303Liabilities 2017: $5,398Net Assets 2017: $24,9052017Assets 2018: $30,401Liabilities 2018: $837Net Assets 2018: $29,5642018Assets 2019: $34,838Liabilities 2019: $0Net Assets 2019: $34,8382019Assets 2020: $8,995Liabilities 2020: $0Net Assets 2020: $8,9952020Assets 2021: $29,629Liabilities 2021: $0Net Assets 2021: $29,6292021Assets 2022: $30,063Liabilities 2022: $0Net Assets 2022: $30,0632022Assets 2023: $12,069,883Liabilities 2023: $11,920,000Net Assets 2023: $149,8832023Assets 2024: $12,052,801Liabilities 2024: $11,887,000Net Assets 2024: $165,8012024

Highlighted filing

2020

Assets$8,995
Liabilities$0
Net Assets$8,995
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $108,409Expenses 2016: $296,409Net Income 2016: -$188,0002016Revenue 2017: $548,384Expenses 2017: $493,243Net Income 2017: $55,1412017Revenue 2018: $288,105Expenses 2018: $279,524Net Income 2018: $8,5812018Revenue 2019: $266,057Expenses 2019: $261,620Net Income 2019: $4,4372019Revenue 2020: $253,083Expenses 2020: $278,926Net Income 2020: -$25,8432020Revenue 2021: $259,306Expenses 2021: $238,672Net Income 2021: $20,6342021Revenue 2022: $225,695Expenses 2022: $225,261Net Income 2022: $4342022Revenue 2023: $446,609Expenses 2023: $326,789Net Income 2023: $119,8202023Revenue 2024: $370,141Expenses 2024: $354,223Net Income 2024: $15,9182024

Highlighted filing

2020

Revenue$253,083
Expenses$278,926
Net Income-$25,843
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jul 21, 2022
Return Version
2019v5.0
Gross Receipts
$253,083
Mission and Program Overview

Mission

Franklin Schools Foundation provides a quality education to a diverse population of preschool & kindergarten school children in central Utah County. We provide an environment where students create, learn, play, and inspire. We also work to create a welcoming work environment for our staff of highly trained educators and support staff. We provide meaningful opportunities for parents to volunteer and participate in fundraising.

Franklin Schools Foundation provides a quality education to a diverse population of preschool and kindergarten children in central Utah County. The Foundation also provides and supports quality educational experiences and parent volunteer opportunities for K-6 charter students enrolled at Franklin Discovery Academy-Vineyard. We provide an environment where students create, learn, play, and inspire. We also work to create a welcoming work environment for our staff of highly trained educators and support staff. We provide meaningful opportunities for parents to volunteer and participate in fundraising.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$34,838$8,995▼ $25,843
Rtn Earn Endowment Incm Other Fnds$34,838$8,995▼ $25,843
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$34,838$8,995▼ $25,843
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,838$8,995▼ $25,843
Total Liabilities and Net Assets / Fund Balance$34,838$8,995▼ $25,843
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kaylee WoolseyChair, and Preschool DirectorFT$32,819$32,819

Board Members and Trustees

NameTitle
Jaylin ScottBoard Member (Volunteer)
Jennifer PriceCAO (Volunteer)
Enkhee ChuluunTreasurer (Volunteer)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$253,083
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-25,843
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$232,618
Other Expenses$43,543
Grants and Similar Amounts Paid$2,765
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$182,781--$182,781
Current Officers, Directors, Trustees, and Key Employees$32,819--$32,819
Occupancy$29,500--$29,500
Payroll Taxes$15,079--$15,079
Office Expenses$9,027--$9,027
Grants to Domestic Orgs$2,765--$2,765
Information Technology$2,198--$2,198
Insurance$2,180--$2,180
Other Employee Benefits$1,939--$1,939
Interest$398--$398
Advertising$240--$240
Total Functional Expenses$278,926$0$0$278,926
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 B, Line 11B

“Provided written copies to board members and admin for review. Copies provided at the board's budget meeting.”

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

“Directors are required to annually read and sign the conflict of interest statement. Directors are also required to disclose in each meeting any potential conflict. Directors are not allowed to be present in the room during a vote in which the director may have a conflict of interest.”

Form 990, Part VI, Section B, Line 15

“Compensation was determined by comparing salaries to similar positions at similar entities in Utah County using data from employment websites.”

Form 990, Part VI, Section C, Line 19

“These documents are available for public inspection as noted on our website at our offices.”

Filing and Contact Details

Filer

Filer Name
Franklin Schools Foundation
EIN
46-3021440
Phone
8014770144
Address
70 S Holdaway, Vineyard, UT 84059

Signing Officer

Name
Jennifer Price
Title
CAO Volunteer
Phone
8014770144
Signed
2022-07-21

Organization Details

Principal Officer
Jennifer Price
Formed
2014
Legal Domicile
Ut
Voting Board Members
3
Independent Board Members
3
Employees
27
Volunteers
230
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IRS990/Desc0School: Franklin schools foundation operates a school for primary children (preschool to kindergarten) using an established curriculum and faculty.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair, and Preschool Director
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IRS990/MissionDesc0Franklin Schools Foundation provides a quality education to a diverse population of preschool & kindergarten school children in central Utah County. We provide an environment where students create, learn, play, and inspire. We also work to create a welcoming work environment for our staff of highly trained educators and support staff. We provide meaningful opportunities for parents to volunteer and participate in fundraising.
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IRS990/PayrollTaxesGrp/ProgramServicesAmt015079
IRS990/PayrollTaxesGrp/TotalAmt015079
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Jennifer Price
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0Tuition
IRS990/ProgramServiceRevenueGrp/Desc1Educational facilities/development
IRS990/ProgramServiceRevenueGrp/Desc2Parent Organization
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0187640
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt155571
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29872
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0187640
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt155571
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29872
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0Parent support organization: Franklin Schools Foundation operates the Franklin Discovery Parents and FSO, which is a place for parents to volunteer and fundraise. This program operates under a disregarded LLC named Franklin Discovery Parents, LLC.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt011814
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt09872
IRS990/ProgSrvcAccomActy3Grp/Desc0Facility and exhibit management: Franklin Schools Foundation develops and maintains exciting exhibits for K-6 charter students, such as a butterfly garden exhibit that includes live plants and animals for students to interact with. FSF provides general facility services and maintenance. FSF owns an operates the facility under the disregarded entity 320 Gammon Road, LLC.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt069041
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt055571
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt08417
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt053932
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0266057
IRS990/PYRevenuesLessExpensesAmt04437
IRS990/PYSalariesCompEmpBnftPaidAmt0199271
IRS990/PYTotalExpensesAmt0261620
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0266057
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-25843
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0187640
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt034838
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt08995
IRS990/SavingsAndTempCashInvstGrp/BOYAmt034838
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08995
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0An ad was placed in the local newspaper
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Provided written copies to board members and admin for review. Copies provided at the board's budget meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Directors are required to annually read and sign the conflict of interest statement. Directors are also required to disclose in each meeting any potential conflict. Directors are not allowed to be present in the room during a vote in which the director may have a conflict of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation was determined by comparing salaries to similar positions at similar entities in Utah County using data from employment websites.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3These documents are available for public inspection as noted on our website at our offices.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0Franklin Discovery Preschool
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1Franklin Discovery Academy - FSO
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2Franklin Transport One LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt3320 East Gammon Road LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt4FSF Early Learning LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0352562562
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1384006988
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2301086714
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN3320575977

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,995
Liabilities
$0
Net assets
$8,995
Revenue
$253,083
Expenses
$278,926
Net income
-$25,843
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.1$11.9$0.17$0.37$0.35$0.02
2023Detailed filing. Detailed filing data is available for this year.$12.1$11.9$0.15$0.45$0.33$0.12
2022Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.23$0.23$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.26$0.24$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.25$0.28$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.27$0.26$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.29$0.28$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.01$0.02$0.55$0.49$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.15$0.34$0.19$0.11$0.30$0.19