Civic Intelligence

Franklin Road Academy Inc

EIN 62-1138075 • 501(c)3 • Nashville, TN

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Profile

Franklin road academy provides a challenging educational experience in an inclusive christian community with an unwavering commitment to develop leaders of integrity and purpose. We will inspire in our students a lifelong love of learning through a dynamic academic program which will prepare them for success in life; encourage students to discover their passions through opportunities in academics, the arts, athletics, and servant leadership; nurture leaders of integrity, guided by christian principles, compelled to lead lives of compassionate global citizenship.

4700 Franklin RoadNashville, TN 37220

www.franklinroadacademy.com

Siviq Scores

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

Liabilities / Assets

41st percentile

0.16x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

44th percentile

0.27x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

81st percentile

29%

Higher net margin than 81% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

81st percentile

19%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

81st percentile

29%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$78,573,645

Up $10,317,890 (+15%) from 2023

Liabilities

Down

$9,393,315

Down $1,643,424 (-15%) from 2023

Net Assets

Up

$69,180,330

Up $11,961,314 (+21%) from 2023

Operations
Liabilities / Revenue44th percentileNet Margin81st percentile

Revenue

Up

$42,987,734

Up $1,971,849 (+4.8%) from 2023

Expenses

Up

$31,414,564

Up $2,283,989 (+7.8%) from 2023

Net Income

Down

$11,573,170

Down $312,140 (-2.6%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

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

$80M$60M$40M$20M$0Assets 2010: $38,426,051Liabilities 2010: $12,177,348Net Assets 2010: $26,248,7032010Assets 2011: $36,933,686Liabilities 2011: $11,049,305Net Assets 2011: $25,884,3812011Assets 2012: $35,306,124Liabilities 2012: $11,123,481Net Assets 2012: $24,182,6432012Assets 2013: $29,694,231Liabilities 2013: $10,653,049Net Assets 2013: $19,041,1822013Assets 2014: $28,670,091Liabilities 2014: $10,080,080Net Assets 2014: $18,590,0112014Assets 2015: $27,648,336Liabilities 2015: $9,696,358Net Assets 2015: $17,951,9782015Assets 2016: $27,032,511Liabilities 2016: $10,057,160Net Assets 2016: $16,975,3512016Assets 2017: $28,423,541Liabilities 2017: $9,660,177Net Assets 2017: $18,763,3642017Assets 2018: $33,648,265Liabilities 2018: $10,172,230Net Assets 2018: $23,476,0352018Assets 2019: $47,921,731Liabilities 2019: $19,677,587Net Assets 2019: $28,244,1442019Assets 2020: $56,428,521Liabilities 2020: $24,406,001Net Assets 2020: $32,022,5202020Assets 2021: $58,128,778Liabilities 2021: $17,732,102Net Assets 2021: $40,396,6762021Assets 2022: $57,542,680Liabilities 2022: $12,745,473Net Assets 2022: $44,797,2072022Assets 2023: $68,255,755Liabilities 2023: $11,036,739Net Assets 2023: $57,219,0162023Assets 2024: $78,573,645Liabilities 2024: $9,393,315Net Assets 2024: $69,180,3302024

Highlighted filing

2024

Assets$78,573,645
Liabilities$9,393,315
Net Assets$69,180,330
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

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

$60M$40M$20M$0-$20MExpenses 2010: $15,097,9522010Revenue 2011: $14,268,692Expenses 2011: $15,016,766Net Income 2011: -$748,0742011Expenses 2012: $17,273,8682012Expenses 2013: $21,477,8222013Revenue 2014: $15,357,222Expenses 2014: $16,203,635Net Income 2014: -$846,4132014Revenue 2015: $16,021,365Expenses 2015: $16,518,448Net Income 2015: -$497,0832015Revenue 2016: $16,269,447Expenses 2016: $17,071,846Net Income 2016: -$802,3992016Revenue 2017: $18,971,483Expenses 2017: $17,296,143Net Income 2017: $1,675,3402017Revenue 2018: $22,739,253Expenses 2018: $18,399,923Net Income 2018: $4,339,3302018Revenue 2019: $24,758,576Expenses 2019: $19,881,591Net Income 2019: $4,876,9852019Revenue 2020: $27,136,280Expenses 2020: $23,257,541Net Income 2020: $3,878,7392020Revenue 2021: $31,046,189Expenses 2021: $24,085,769Net Income 2021: $6,960,4202021Revenue 2022: $31,732,934Expenses 2022: $26,957,071Net Income 2022: $4,775,8632022Revenue 2023: $41,015,885Expenses 2023: $29,130,575Net Income 2023: $11,885,3102023Revenue 2024: $42,987,734Expenses 2024: $31,414,564Net Income 2024: $11,573,1702024

Highlighted filing

2024

Revenue$42,987,734
Expenses$31,414,564
Net Income$11,573,170
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$78,573,645
Liabilities
$9,393,315
Net assets
$69,180,330
Revenue
$42,987,734
Expenses
$31,414,564
Net income
$11,573,170
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$78.6$9.39$69.2$43.0$31.4$11.6
2023Detailed filing. Detailed filing data is available for this year.$68.3$11.0$57.2$41.0$29.1$11.9
2022Detailed filing. Detailed filing data is available for this year.$57.5$12.7$44.8$31.7$27.0$4.78
2021Detailed filing. Detailed filing data is available for this year.$58.1$17.7$40.4$31.0$24.1$6.96
2020Detailed filing. Detailed filing data is available for this year.$56.4$24.4$32.0$27.1$23.3$3.88
2019Detailed filing. Detailed filing data is available for this year.$47.9$19.7$28.2$24.8$19.9$4.88
2018Detailed filing. Detailed filing data is available for this year.$33.6$10.2$23.5$22.7$18.4$4.34
2017Detailed filing. Detailed filing data is available for this year.$28.4$9.66$18.8$19.0$17.3$1.68
2016Detailed filing. Detailed filing data is available for this year.$27.0$10.1$17.0$16.3$17.1$0.80
2015Detailed filing. Detailed filing data is available for this year.$27.6$9.70$18.0$16.0$16.5$0.50
2014Detailed filing. Detailed filing data is available for this year.$28.7$10.1$18.6$15.4$16.2$0.85
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$10.7$19.0$21.5
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.3$11.1$24.2$17.3
2011Summary only. Only limited summary data is available for this year.$36.9$11.0$25.9$14.3$15.0$0.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.4$12.2$26.2$15.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 30, 2025
Return Version
2023v6.0
Gross Receipts
$46,408,697
Mission and Program Overview

Mission

Franklin road academy provides a challenging educational experience in an inclusive christian community with an unwavering commitment to develop leaders of integrity and purpose. We will inspire in our students a lifelong love of learning through a dynamic academic program which will prepare them for success in life; encourage students to discover their passions through opportunities in academics, the arts, athletics, and servant leadership; nurture leaders of integrity, guided by christian principles, compelled to lead lives of compassionate global citizenship.

To provide a challenging educational experience in an inclusive christian community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$43,587,406$47,978,588▲ $4,391,182
Savings and Temporary Cash Investments$8,315,659$10,289,877▲ $1,974,218
Investments Program Related$5,019,683$7,040,571▲ $2,020,888
Investments in Publicly Traded Securities$5,661,716$6,164,820▲ $503,104
Pledges and Grants Receivable$4,647,903$5,938,721▲ $1,290,818
Accounts Receivable$438,949$583,442▲ $144,493
Receivables From Officers Etc$10,000$0▼ $10,000
Cash and Non-Interest-Bearing Accounts$21,245$1,495▼ $19,750
Total Assets$68,255,755$78,573,645▲ $10,317,890
Other Assets Total$553,194$576,131▲ $22,937
Liabilities
Deferred Revenue$4,375,741$4,041,077▼ $334,664
Tax Exempt Bond Liabilities$4,471,496$2,887,685▼ $1,583,811
Accounts Payable and Accrued Expenses$2,134,680$2,432,083▲ $297,403
Other Liabilities$54,822$32,470▼ $22,352
Total Liabilities$11,036,739$9,393,315▼ $1,643,424
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$42,857,774$49,301,680▲ $6,443,906
Net Assets With Donor Restrictions$14,361,242$19,878,650▲ $5,517,408
Total Net Assets Fund Balance$57,219,016$69,180,330▲ $11,961,314
Total Liabilities and Net Assets / Fund Balance$68,255,755$78,573,645▲ $10,317,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,362,222$30,378,719$57,740,941
Leasehold Improvements$9,307,302$1,844,185$11,151,487
Land$6,178,292-$6,178,292
Other Land Buildings$4,371,493-$4,371,493
Equipment$759,279$2,264,376$3,023,655
Investment Program Related Org$7,040,571--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$5,661,716-▲ $533,118-$6,164,820
2022$5,301,380-▲ $390,414-$5,661,716
2021$5,760,304$30,000▼ $459,580-$5,301,380
2020$4,361,617$250,000▲ $1,177,128-$5,760,304
2019$4,154,207$25,100▲ $211,528-$4,361,617
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sean CaseyHead of SchoolFT$508,152$109,188$617,340
Laura TurnerAssistant Head of School for Finance and OpFT$183,845$79,859$263,704
Ryan HarrisAssistant Head of School for External AffairsFT$154,901$59,270$214,171
Justin GeisingerHead Coach Varsity FootballFT$148,649$63,318$211,967
Richard B WestHead of Lower SchoolFT$154,573$13,351$167,924
Kristin PalmertonDirector of AthleticsFT$148,200$17,697$165,897
Jay SalatoHead of Upper SchoolFT$132,088$16,472$148,560
Channing Mccollough ClarkHead of Middle SchoolFT$123,503$8,595$132,098

Board Members and Trustees

NameTitle
Randy ChaseBoard Chair
Andrew SohrTrustee
Florence ChassaignacTrustee
Gabrielle WesleyTrustee
Jaimie RobinsonTrustee
Jared AllenTrustee
Jeb BeasleyTrustee
Jessica Bracken BoydTrustee
Karla CalderonTrustee
Matt CasselTrustee
Matthew DenmarkTrustee
Penny AustermillerTrustee
Richard Mcrae IiiTrustee
Sara Elizabeth BradfordTrustee
Steve HalasTrustee
Tommy AxfordTrustee
Victor BerriosTrustee
Rosemary PlorinSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Brasfield & GorrieGeneral Contractor Service1201 DEMONBREUN ST SUITE 200, Nashville, TN 37203$4,361,388
Sage Dining ServiceFood Service1402 YORK ROAD, Lutherville, MD 21093$1,359,376
4m Building Solutions INCJanitorial ServicePO BOX 870784, Kansas City, MO 64187-0784$601,376
Goodrum Construction LLCGeneral Contractor Service249 CARGILE LANE, Nashville, TN 37205$552,955
AnecdoteArchitectural Design Services508 HOUSTON STREET, Nashville, TN 37203$226,174
Revenue and Support

Revenue Composition

Contributions and Grants
$11,347,242
Program Service Revenue
$30,988,155
Investment Income
$339,718
Other Revenue
$312,619
All Other Contributions
$10,666,517
Change in Net Assets
$11,573,170

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded20$766,239Value Sold
Other Non Cash Contri Table338$338,254Auction Proceeds
Total Noncash Contributions358$1,104,493-

Audited Revenue Reconciliation

Revenue per Audited Statements
$40,807,863
Revenue Not Reported on Financial Statements
$2,179,871
Revenue Not Reported on Form 990
$683,281
Other Revenue Adjustments
$2,123,845
Total Revenue per Audited Statements
$41,491,144
Total Revenue per Form 990
$42,987,734
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,507,364
Other Expenses$11,787,151
Grants and Similar Amounts Paid$2,120,049
Total Fundraising Expense$1,156,342
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,117,924$42,483$380,771$12,541,178
Depreciation Depletion$2,628,923$48,229$13,553$2,690,705
Occupancy$2,351,973$50,390$11,660$2,414,023
Grants to Domestic Individuals$2,120,049--$2,120,049
Other Employee Benefits$1,882,682$167,496$68,214$2,118,392
Current Officers, Directors, Trustees, and Key Employees$210,146$543,699$383,118$1,136,963
All Other Expenses$985,467$15,704$94,869$1,096,040
Payroll Taxes$848,062$106,109$45,023$999,194
Pension Plan Contributions$643,026$53,213$15,398$711,637
Other Expenses$616,663$11,141$247$616,663
Office Expenses$264,964$176,045$114,027$555,036
Information Technology$498,659$837$235$499,731
Insurance$280,335$5,143$1,445$286,923
Advertising$120,092$51,296$26,861$198,249
Interest$175,515$6,696$921$183,132
Travel$68,132$25,995-$94,127
Fees for Service Investment Mgmnt Fees-$56,026-$56,026
Fees for Services Other-$51,129-$51,129
Fees for Services Management-$50,082-$50,082
Fees for Services Accounting-$35,982-$35,982
Fees for Services Legal-$12,098-$12,098
Total Functional Expenses$28,748,429$1,509,793$1,156,342$31,414,564

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$31,414,564
Total Expenses per Audited Statements$29,529,830
Expenses per Audited Statements$29,234,693
Expenses Not Reported on Financial Statements$2,179,871
Other Expense Adjustments$2,123,845
Expenses Not Reported on Form 990$295,137
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$295,137
Fundraising Gross Income$265,550
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Stars & Guitars$946,275$265,550$83,076$182,474
Total Events$946,275$265,550$295,137$-29,587
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 Officers, Directors, Trustees, and Key Employees$10,000$0▼ $10,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Contract$32,470

Bond Issues

BondIssuerIssuedIssue PricePurpose
BNashville Finance Authority2024-04-05$17,165,000PHASE V CONSTRUCTION
AHealth and Educ Facilities Bd of Metro Govt of Nashville and Davidson Tn2009-08-01$12,000,000Refunding of 2005 bond issue

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,000,000-$9,150,000$184,299
B----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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
No
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 8B

“Committee work is done and recommendations are made to the board by the subcommittees of the board. The board then makes a motion on the recommendation, all board decisions are recorded in the minutes taken at the board meetings.”

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

“The finance committee reviews the audit report in detail as a general practice. The form 990 is distributed to the finance committee for its review before it is filed.”

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

“Annually, all board members, directors and key employees are required to fill out a conflict of interest disclosure. These are reviewed during the audit process.”

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

“A committee is appointed by the chairman of the board to evaluate the performance of the head of school. The committee looks at performance and the salaries of peer positions at other schools and recommends a new salary for a three-year contract.”

Form 990, Part VI, Section C, Line 19

“A copy of the form 990 is available on guidestar.com. A copy of the return, governing documents, conflict of interest policy and financial statements are available upon request.”

Form 990, Part VII, Section B

“The compensation for goodrum construction, llc includes both materials and services.”

Filing and Contact Details

Filer

Filer Name
Franklin Road Academy Inc
EIN
62-1138075
Phone
6158328845
Address
4700 FRANKLIN ROAD, NASHVILLE, TN 37220

Signing Officer

Name
Laura Turner
Title
Assistant Head of School for Finance & Ops
Phone
6158328845
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Turner
Formed
1973
Legal Domicile
Tn
Voting Board Members
18
Independent Board Members
18
Employees
376
Volunteers
280

Preparer

Firm
Kraftcpas Pllc
Address
555 GREAT CIRCLE ROAD, NASHVILLE, TN 37228
Preparer
Frances E Leahy
Phone
6152427351
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Unrealized gain on interest rate swap 22,352.”

FORM 990, PART XII, LINE 2C:

“The organization has not changed its oversight or selection process from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“The endowment draw, if any, is used for scholarships and other program or general expenses, as approved or predetermined by the endowment restrictions.”

PART X, LINE 2:

“Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the school's income tax return to determine whether the income tax positions meet a "more likely than not" standard of being sustained under examination by the applicable taxing authorities. Management has performed its evaluation of all income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the "more likely than not" standard. Accordingly, there were no provisions for income taxes, penalties, or interest receivable or payable relating to uncertain income tax positions in the accompanying financial statements.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Direct special event expenses 295,137. Change in value of interest rate swap 22,352.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Financial aid (netted against tuition for audit purposes) 2,120,049. Bad debt recovery 3,796.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Direct special event expenses 295,137.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Financial aid (netted against tuition for audit purposes) 2,120,049. Bad debt recovery 3,796.”

Raw XML AppendixShowing 400 of 971 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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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1SAGE DINING SERVICE
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt24M BUILDING SOLUTIONS INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3GOODRUM CONSTRUCTION LLC
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IRS990/Desc0INSTRUCTIONAL & STUDENT ACTIVITIES - EDUCATION FOR GRADES PRE K-12 FOR APPROXIMATELY 1,000 STUDENTS, INSTRUCTION FOR ATHLETICS, BAND, DAY CARE AND DAY CAMP, AND AUXILIARY ACTIVITIES (CAFETERIA, CONCESSIONS FOR ATHLETIC EVENTS, ANNUAL, BOOKSTORE AND SPECIAL STUDENT ACTIVITIES).
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR OF ATHLETICS
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IRS990/MissionDesc0FRANKLIN ROAD ACADEMY PROVIDES A CHALLENGING EDUCATIONAL EXPERIENCE IN AN INCLUSIVE CHRISTIAN COMMUNITY WITH AN UNWAVERING COMMITMENT TO DEVELOP LEADERS OF INTEGRITY AND PURPOSE. WE WILL INSPIRE IN OUR STUDENTS A LIFELONG LOVE OF LEARNING THROUGH A DYNAMIC ACADEMIC PROGRAM WHICH WILL PREPARE THEM FOR SUCCESS IN LIFE; ENCOURAGE STUDENTS TO DISCOVER THEIR PASSIONS THROUGH OPPORTUNITIES IN ACADEMICS, THE ARTS, ATHLETICS, AND SERVANT LEADERSHIP; NURTURE LEADERS OF INTEGRITY, GUIDED BY CHRISTIAN PRINCIPLES, COMPELLED TO LEAD LIVES OF COMPASSIONATE GLOBAL CITIZENSHIP.
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