Civic Intelligence

Franklin Schools Foundation

990 • Fiscal year 2023 • EIN 46-3021440

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 07, 2023

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

93rd percentile

0.99x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

26.69x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

81st percentile

27%

Higher net margin than 81% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

15th percentile

$29,630

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

100th percentile

40049%

Faster asset growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

98%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$12,069,883

Up $12,039,820 (+40049%) from 2022

Net Assets

Up

$149,883

Up $119,820 (+399%) from 2022

Liabilities

Up

$11,920,000

Up $11,920,000 from 2022

Revenue

Up

$446,609

Up $220,914 (+98%) from 2022

Expenses

Up

$326,789

Up $101,528 (+45%) from 2022

Net Income

Up

$119,820

Up $119,386 (+27508%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$12,069,883
Liabilities$11,920,000
Net Assets$149,883

Operations Trend

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

2023

Revenue$446,609
Expenses$326,789
Net Income$119,820
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$446,609
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
Land, Buildings, and Equipment, Net$11,920,000$11,920,000→ $0
Savings and Temporary Cash Investments$30,063$149,883▲ $119,820
Rtn Earn Endowment Incm Other Fnds$30,063$149,883▲ $119,820
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net-$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-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges-$0-
Total Assets$11,950,063$12,069,883▲ $119,820
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$11,920,000$11,920,000→ $0
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
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$11,920,000$11,920,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,063$149,883▲ $119,820
Total Liabilities and Net Assets / Fund Balance$11,950,063$12,069,883▲ $119,820

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,200,000$0$0
Other Land Buildings$1,720,000$0$0
Land$1,000,000-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Diana GardnerDirectorFT$29,630$29,630

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$115,843
Program Service Revenue
$330,766
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$119,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$265,523
Other Expenses$61,266
Total Fundraising Expense$3,161
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$198,835$0$0$198,835
Payroll Taxes$37,058$0$0$37,058
Current Officers, Directors, Trustees, and Key Employees$29,630$0$0$29,630
Occupancy$24,200$0$0$24,200
Office Expenses$16,723$0$0$16,723
All Other Expenses$11,062-$2,380$13,442
Information Technology$2,982$0$0$2,982
Fees for Services Accounting$1,488$0$0$1,488
Insurance$972$0$0$972
Advertising$189$0$481$670
Interest$489$0$0$489
Fees for Services Other$0$0$300$300
Total Functional Expenses$323,628$0$3,161$326,789
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
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArizona Industrial Development Authority2018-10-17$11,920,000Franklin Discovery Academy project - facility

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,920,000$745,000$0$71,918

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 notice 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
2023-11-07

Organization Details

Principal Officer
Jennifer Price
Formed
2014
Legal Domicile
Ut
Voting Board Members
3
Independent Board Members
3
Employees
26
Volunteers
210
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IRS990/ActivityOrMissionDesc0Franklin 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.
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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/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0198835
IRS990/OtherSalariesAndWagesGrp/TotalAmt0198835
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt037058
IRS990/PayrollTaxesGrp/TotalAmt037058
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Jennifer Price
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0Preschool and Kindergarten
IRS990/ProgramServiceRevenueGrp/Desc1Educational Services
IRS990/ProgramServiceRevenueGrp/Desc2Parent volunteer group
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0234096
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt183675
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt212995
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0234096
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt183675
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212995
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 Academy - FSO, LLC.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt022044
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt020915
IRS990/ProgSrvcAccomActy3Grp/Desc0Facility, exhibit, and school support 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. Franklin Schools Foundations provides various school support services such as remote tutoring.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt082470
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt083675
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt025840
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0225695
IRS990/PYRevenuesLessExpensesAmt0434
IRS990/PYSalariesCompEmpBnftPaidAmt0199421
IRS990/PYTotalExpensesAmt0225261
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0225695
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0119820
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0234096
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt030063
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0149883
IRS990/SavingsAndTempCashInvstGrp/BOYAmt030063
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0149883
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt09200000
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt09200000
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt01000000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01000000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01720000
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01720000
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011920000
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

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