Civic Intelligence

Franklin Affordable Housing Corp

EIN 61-0709547 • 501(c)3 • Franklin, KY

Profile

Provide and manage low-inc hsg

Refreshing map…

1301 Crestmore DriveFranklin, KY 42134

n/A

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.15x

Higher debt load relative to assets than 53% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2025

Net Margin

100th percentile

1891%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

23rd percentile

$1,300

Higher top officer pay than 23% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

98th percentile

212%

Faster asset growth than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2024 to 2025

Assets

Up

$6,119,741

Up $4,157,284 (+212%) from 2024

Liabilities

Up

$913,077

Up $222,994 (+32%) from 2024

Net Assets

Up

$5,206,664

Up $3,934,290 (+309%) from 2024

Revenue

Down

-$5,387

Down $305,196 (-102%) from 2024

Expenses

Down

$96,488

Down $9,509 (-9.0%) from 2024

Net Income

Down

-$101,875

Down $295,687 (-153%) from 2024

Trend Graphs

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $94,503Liabilities 2012: $1402012Assets 2013: $181,324Liabilities 2013: $1,516Net Assets 2013: $179,8082013Assets 2014: $254,892Liabilities 2014: $1,784Net Assets 2014: $253,1082014Assets 2015: $397,522Net Assets 2015: $397,5222015Assets 2016: $447,058Liabilities 2016: $02016Assets 2017: $486,093Net Assets 2017: $486,0932017Assets 2018: $498,680Liabilities 2018: $1,3502018Assets 2019: $540,572Liabilities 2019: $1,350Net Assets 2019: $539,2222019Assets 2020: $568,572Liabilities 2020: $2,000Net Assets 2020: $566,5722020Assets 2021: $1,388,482Liabilities 2021: $738,576Net Assets 2021: $649,9062021Assets 2022: $1,808,179Liabilities 2022: $725,968Net Assets 2022: $1,082,2112022Assets 2023: $1,783,633Liabilities 2023: $707,390Net Assets 2023: $1,076,2432023Assets 2024: $1,962,457Liabilities 2024: $690,083Net Assets 2024: $1,272,3742024Assets 2025: $6,119,741Liabilities 2025: $913,077Net Assets 2025: $5,206,6642025

Highlighted filing

2025

Assets$6,119,741
Liabilities$913,077
Net Assets$5,206,664

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2012: $14,231Expenses 2012: $20,375Net Income 2012: -$6,1442012Revenue 2013: $121,353Expenses 2013: $35,908Net Income 2013: $85,4452013Revenue 2014: $92,465Expenses 2014: $19,165Net Income 2014: $73,3002014Revenue 2015: $170,899Expenses 2015: $26,485Net Income 2015: $144,4142015Revenue 2016: $81,099Expenses 2016: $31,563Net Income 2016: $49,5362016Revenue 2017: $64,509Expenses 2017: $25,474Net Income 2017: $39,0352017Revenue 2018: $65,891Expenses 2018: $54,654Net Income 2018: $11,2372018Revenue 2019: $66,573Expenses 2019: $24,681Net Income 2019: $41,8922019Revenue 2020: $57,847Expenses 2020: $30,497Net Income 2020: $27,3502020Revenue 2021: $102,174Expenses 2021: $18,840Net Income 2021: $83,3342021Revenue 2022: $498,150Expenses 2022: $65,842Net Income 2022: $432,3082022Revenue 2023: $90,521Expenses 2023: $96,489Net Income 2023: -$5,9682023Revenue 2024: $299,809Expenses 2024: $105,997Net Income 2024: $193,8122024Revenue 2025: -$5,387Expenses 2025: $96,488Net Income 2025: -$101,8752025

Highlighted filing

2025

Revenue-$5,387
Expenses$96,488
Net Income-$101,875

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.12$0.91$5.21$0.01$0.10$0.10
2024Summary only. Only limited summary data is available for this year.$1.96$0.69$1.27$0.30$0.11$0.19
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$0.71$1.08$0.09$0.10$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.73$1.08$0.50$0.07$0.43
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$0.74$0.65$0.10$0.02$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.00$0.57$0.06$0.03$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.07$0.02$0.04
2018Summary only. Only limited summary data is available for this year.$0.50$0.00$0.07$0.05$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.49$0.49$0.06$0.03$0.04
2016Summary only. Only limited summary data is available for this year.$0.45$0.00$0.08$0.03$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.40$0.40$0.17$0.03$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.09$0.02$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.12$0.04$0.09
2012Summary only. Only limited summary data is available for this year.$0.09$0.00$0.01$0.02$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
May 27, 2025
Return Version
2024v5.1
Gross Receipts
$509,146
Mission and Program Overview

Mission

Franklin affordable housing is responsible for providing and maintaining housing for low-income residents within the city of franklin ky. They also provide oversite to a low-income housing development in franklin ky. The housing is maintained to meet hud standards.

Provide and manage low-income housing for residents of franklin, kentucky

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$5,308,539$5,206,664▼ $101,875
Land, Buildings, and Equipment, Net$4,845,208$4,617,477▼ $227,731
Cash and Non-Interest-Bearing Accounts$1,152,826$683,202▼ $469,624
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,018,916$6,119,741▲ $100,825
Other Assets Total$20,882$819,062▲ $798,180
Liabilities
Mortgage Notes Payable Secured by Investment Property$677,717$875,302▲ $197,585
Accounts Payable and Accrued Expenses$32,660$37,775▲ $5,115
Total Liabilities$710,377$913,077▲ $202,700
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,308,539$5,206,664▼ $101,875
Total Liabilities and Net Assets / Fund Balance$6,018,916$6,119,741▲ $100,825

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,006,310$2,542,217$6,548,527
Leasehold Improvements$119,223$652,886$772,109
Land$418,869-$418,869
Other Land Buildings$73,073$71,213$144,286
Equipment$2$2,848$2,850
Other Assets Org$2--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Gerald OglesDirector$1,300$1,300
Larry DixonBoard Member$1,300$1,300
Larry SmithDirector$1,300$1,300
Phil LockhartChairperson$1,300$1,300
Victor Lee PortmanDirector$1,300$1,300

Board Members and Trustees

NameTitle
Jolie BrownExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,200
Investment Income
$4,949
Other Revenue
$-39,536
Change in Net Assets
$-101,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$89,988
Salaries, Compensation, and Employee Benefits$6,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$77,274-$77,274
Fees for Services Accounting-$9,528-$9,528
Current Officers, Directors, Trustees, and Key Employees-$6,500-$6,500
Office Expenses-$1,900-$1,900
All Other Expenses-$276-$276
Other Expenses-$129-$129
Travel-$117-$117
Total Functional Expenses$0$96,488$0$96,488
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$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
Yes
Management duties delegated
No

Governance Explanations

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

Copies of the return are provided to the board of directors for review and maintained at the corporate office.

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

The board follows the city of franklin and county of simpson, kentucky bylaws on conflicts of interest and are monitored annually. The also follow hud national requirements of the housing authority of franklin, kentucky.

Form 990, Part VI, Section B, Line 15A

The executive director compensation is reviewed by the board annually and is measured against similar positions within the community and surrounding areas. Currently, no compensation is paid by the corporation to the executive director as this position is funded by the housing authority of franklin, kentucky.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Franklin Affordable Housing Corp
EIN
61-0709547
Phone
2705868500
Address
1301 CRESTMORE DRIVE, FRANKLIN, KY 42134

Signing Officer

Name
Jolie Brown
Title
Director
Signed
2025-05-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jolie Brown
Formed
2001
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Clark CPA and Advisory Group PLLC
Address
927 Brookhaven Road, Franklin, KY 42134
Preparer
Tanner Clark
Phone
2705869899
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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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IRS990/ProgramServiceRevenueGrp/BusinessCd0531310
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt029200
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt029200
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-101875
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-39536
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt029200
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05308539
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05206664
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalSupportAmt00
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt04006310
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02542217
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06548527
IRS990ScheduleD/EquipmentGrp/BookValueAmt02
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02848
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02850
IRS990ScheduleD/LandGrp/BookValueAmt0418869
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0418869
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0119223
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0652886
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0772109
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0819060
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEVELOPMENT COSTS - DIXON GROVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Rounding
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt073073
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt071213
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0144286
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04617477
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0819062
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPIES OF THE RETURN ARE PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND MAINTAINED AT THE CORPORATE OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD FOLLOWS THE CITY OF FRANKLIN AND COUNTY OF SIMPSON, KENTUCKY BYLAWS ON CONFLICTS OF INTEREST AND ARE MONITORED ANNUALLY. THE ALSO FOLLOW HUD NATIONAL REQUIREMENTS OF THE HOUSING AUTHORITY OF FRANKLIN, KENTUCKY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR COMPENSATION IS REVIEWED BY THE BOARD ANNUALLY AND IS MEASURED AGAINST SIMILAR POSITIONS WITHIN THE COMMUNITY AND SURROUNDING AREAS. CURRENTLY, NO COMPENSATION IS PAID BY THE CORPORATION TO THE EXECUTIVE DIRECTOR AS THIS POSITION IS FUNDED BY THE HOUSING AUTHORITY OF FRANKLIN, KENTUCKY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
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 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06018916
IRS990/TotalAssetsEOYAmt06119741
IRS990/TotalAssetsGrp/BOYAmt06018916
IRS990/TotalAssetsGrp/EOYAmt06119741
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096488
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt096488
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0710377
IRS990/TotalLiabilitiesEOYAmt0913077
IRS990/TotalLiabilitiesGrp/BOYAmt0710377
IRS990/TotalLiabilitiesGrp/EOYAmt0913077
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05308539
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05206664
IRS990/TotalProgramServiceRevenueAmt029200
IRS990/TotalReportableCompFromOrgAmt06500
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-5387
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-5387
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06018916
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06119741
IRS990/TravelGrp/ManagementAndGeneralAmt0117
IRS990/TravelGrp/TotalAmt0117
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01301 CRESTMORE DRIVE
IRS990/USAddress/CityNm0FRANKLIN
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042134
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOLIE BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN AFFORDABLE HOUSING CORP
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0610709547
ReturnHeader/Filer/PhoneNum02705868500
ReturnHeader/Filer/USAddress/AddressLine1Txt01301 CRESTMORE DRIVE
ReturnHeader/Filer/USAddress/CityNm0FRANKLIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042134
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0994512121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Clark CPA and Advisory Group PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0927 Brookhaven Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Franklin
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd042134
ReturnHeader/PreparerPersonGrp/PhoneNum02705869899
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TANNER CLARK
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-27T12:31:36-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-04-01
ReturnHeader/TaxPeriodEndDt02025-03-31
ReturnHeader/TaxYr02024

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