Civic Intelligence

Brillare Beauty Institute

990 • Fiscal year 2017 • EIN 64-0876425

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

Organization Profilewww.franklinacademy.edu
1605 Professional Park Drive NWCleveland, TN 37312

(954) 492-5353

Siviq Scores

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

Liabilities / Assets

84th percentile

0.47x

Higher debt load relative to assets than 84% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

0.23x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

48th percentile

2.8%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

50th percentile

$3,600

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

34th percentile

-1.7%

Faster asset growth than 34% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

83rd percentile

41%

Faster revenue growth than 83% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$243,411

Down $4,145 (-1.7%) from 2016

Net Assets

Up

$128,093

Up $14,072 (+12%) from 2016

Liabilities

Down

$115,318

Down $18,217 (-14%) from 2016

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin48th percentile

Revenue

Up

$508,336

Up $148,430 (+41%) from 2016

Expenses

Down

$494,264

Down $21,270 (-4.1%) from 2016

Net Income

Up

$14,072

Up $169,700 (+109%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $524,299Liabilities 2010: $283,477Net Assets 2010: $240,8222010Assets 2011: $568,611Liabilities 2011: $226,706Net Assets 2011: $341,9052011Assets 2012: $650,541Liabilities 2012: $279,193Net Assets 2012: $371,3482012Assets 2013: $712,819Liabilities 2013: $255,365Net Assets 2013: $457,4542013Assets 2014: $622,456Liabilities 2014: $221,681Net Assets 2014: $400,7752014Assets 2015: $392,572Liabilities 2015: $130,228Net Assets 2015: $262,3442015Assets 2016: $247,556Liabilities 2016: $133,535Net Assets 2016: $114,0212016Assets 2017: $243,411Liabilities 2017: $115,318Net Assets 2017: $128,0932017Assets 2018: $264,160Liabilities 2018: $116,494Net Assets 2018: $147,6662018Assets 2019: $217,942Liabilities 2019: $129,460Net Assets 2019: $88,4822019Assets 2020: $626,237Liabilities 2020: $292,953Net Assets 2020: $333,2842020Assets 2021: $1,097,021Liabilities 2021: $301,815Net Assets 2021: $795,2062021Assets 2022: $2,107,358Liabilities 2022: $1,299,097Net Assets 2022: $808,2612022Assets 2023: $2,211,661Liabilities 2023: $1,384,205Net Assets 2023: $827,4562023Assets 2024: $1,969,401Liabilities 2024: $1,110,300Net Assets 2024: $859,1012024

Highlighted filing

2017

Assets$243,411
Liabilities$115,318
Net Assets$128,093
Open 2017 Filing

Operations Trend

Revenue Growth83rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $445,8112010Expenses 2011: $479,3692011Expenses 2012: $531,6632012Revenue 2013: $689,824Expenses 2013: $603,718Net Income 2013: $86,1062013Revenue 2014: $474,137Expenses 2014: $528,992Net Income 2014: -$54,8552014Revenue 2015: $391,385Expenses 2015: $525,005Net Income 2015: -$133,6202015Revenue 2016: $359,906Expenses 2016: $515,534Net Income 2016: -$155,6282016Revenue 2017: $508,336Expenses 2017: $494,264Net Income 2017: $14,0722017Revenue 2018: $702,053Expenses 2018: $682,480Net Income 2018: $19,5732018Revenue 2019: $763,367Expenses 2019: $822,551Net Income 2019: -$59,1842019Revenue 2020: $1,500,660Expenses 2020: $1,451,398Net Income 2020: $49,2622020Revenue 2021: $2,779,261Expenses 2021: $2,675,277Net Income 2021: $103,9842021Revenue 2022: $2,655,731Expenses 2022: $2,642,677Net Income 2022: $13,0542022Revenue 2023: $2,996,427Expenses 2023: $2,977,232Net Income 2023: $19,1952023Revenue 2024: $3,437,677Expenses 2024: $3,605,419Net Income 2024: -$167,7422024

Highlighted filing

2017

Revenue$508,336
Expenses$494,264
Net Income$14,072
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$564,013
Mission and Program Overview

Mission

Franklin academy, inc's purpose is to graduate well-rounded professional men and women, as well as technically competent cosmetologists, manicurists, aestheticians or instructors. Franklin academy is devoted to preparing students not only to pass the state licensing examination but also to enter and be successful in all phases of cosmetology, manicuring, aesthetics, shampoo techs, as well as instructors.

Franklin Academy Inc is a school providing educational training in manicuring cosmetology aesthetics and instructor training

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$48,899$103,682▲ $54,783
Accounts Receivable$36,513$57,824▲ $21,311
Land, Buildings, and Equipment, Net$71,797$53,555▼ $18,242
Prepaid Expenses and Deferred Charges$5,692$5,722▲ $30
Inventories for Sale or Use$6,112$5,259▼ $853
Investments in Publicly Traded Securities$61,174$2,369▼ $58,805
Total Assets$247,556$243,411▼ $4,145
Other Assets Total$17,369$15,000▼ $2,369
Liabilities
Other Liabilities$125,080$102,689▼ $22,391
Accounts Payable and Accrued Expenses$8,455$12,629▲ $4,174
Total Liabilities$133,535$115,318▼ $18,217
Net Assets / Fund Balance
Temporarily Rstr Net Assets$114,021$128,093▲ $14,072
Total Net Assets Fund Balance$114,021$128,093▲ $14,072
Total Liabilities and Net Assets / Fund Balance$247,556$243,411▼ $4,145

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$26,390$115,211-
Leasehold Improvements$27,165$22,307-
Other Assets Org$15,000--
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karl PetersenPresidentPT$3,600$3,600

Board Members and Trustees

NameTitle
Diane M PetersenBoard Member
Michael SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$425,187
Investment Income
$3,784
Other Revenue
$79,365
Change in Net Assets
$14,072

Audited Revenue Reconciliation

Revenue per Audited Statements
$509,704
Revenue Not Reported on Form 990
$55,677
Total Revenue per Audited Statements
$565,381
Total Revenue per Form 990
$509,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$276,134
Salaries, Compensation, and Employee Benefits$218,130
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$129,188$53,864-$183,052
Occupancy-$95,276-$95,276
Fees for Services Accounting-$23,550-$23,550
All Other Expenses$8,995$11,723-$20,718
Depreciation Depletion$16,548$2,408-$18,956
Payroll Taxes$10,674$6,795-$17,469
Advertising$17,170--$17,170
Fees for Services Management$16,485--$16,485
Travel$5,779$9,517-$15,296
Other Employee Benefits$1,375$12,634-$14,009
Office Expenses$5,965$7,189-$13,154
Insurance$7,235--$7,235
Conferences and Meetings$1,031$4,990-$6,021
Information Technology$3,403$1,606-$5,009
Current Officers, Directors, Trustees, and Key Employees-$3,600-$3,600
Other Expenses$3,080$3,111-$3,080
Total Functional Expenses$258,001$236,263$0$494,264

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$551,310
Expenses per Audited Statements$495,633
Total Expenses per Form 990$495,633
Expenses Not Reported on Form 990$55,677
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Michael SmithDirectorConsulting FeesNo$16,485
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Tuition$54,894
Student Advance Payments$36,817
Accrued Expenses$10,978
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 family members
No
Business relationship with organization members
Yes
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

Part VI Line 2

“Karl Petersen and Diane Petersen are husband and wife.”

Part VI Line 11B

“A copy of the form 990 is made available to the members of the”

Part VI Line 11B

“governing body via email before the return is filed.”

Part VI Line 12C

“All board members and key employees are required at the first board meeting”

Part VI Line 12C

“of the year to disclose new relationships that may be cause for review.”

Part VI Line 15A or B

“Independent members of the board of directors approve officers salaries.”

Part VI Line 15A or B

“The president approves the salaries of key employees.”

Part VI Line 19

“The governing documents and financial statements are made available by”

Part VI Line 19

“request at the corporate offices during normal business hours.”

M 990 Part VI Line 2

“Related Party Information Among Officers”

M 990 Part VI Line 2

“Karl Petersen is the President of Franklin Academy. Diane McAlister”

M 990 Part VI Line 2

“Petersen is on the Board of Directors for Franklin Academy.”

M 990 Part VI Line 2

“Karl Petersen and Diane Petersen are related by marriage.”

Filing and Contact Details

Filer

Filer Name
Franklin Academy Inc
EIN
64-0876425
In Care Of
% Karl Peteresen
Phone
9544925353
Address
1605 Professional Park Drive NW, Cleveland, TN 37312

Signing Officer

Name
Karl Peteresen
Title
President
Phone
9544925353
Signed
2018-11-14

Organization Details

Principal Officer
Karl Petersen
Formed
1996
Legal Domicile
Tn
Voting Board Members
3
Independent Board Members
3
Employees
10
Supplemental Narrative

Additional Explanations

Part IX Line 24E

“Other Expenses Total expenses - $20718.00 Program service expenses - $8995.00 Mgmt and general expenses - $11723.00 Fundraising expenses - $0.00”

Form 990

“Organization's Mission”

Form 990

“Franklin Academy, Inc.'s purpose is to graduate”

Form 990

“well-rounded professional men and women, as well as, technically”

Form 990

“technically competent cosmetologists, manicurists,”

Form 990

“aestheticians or instructions. Franklin Academy is devoted”

Form 990

“to preparing students not only to pass the state”

Form 990

“licensing examination but also to enter and be successful”

Form 990

“in all phases of cometology, manicuring, aesthetics, shampoo”

Form 990

“techs, as well as instructors.”

Financial Statement Notes

P10, Ln 2

“The Academy is a not-for-profit corporation that is exempt from federal”

P10, Ln 2

“exempt from federal income taxes under Section 501 (c)”

P10, Ln 2

“(3) of the Internal Revenue Code ("IRC") whereby only”

P10, Ln 2

“unrelated business income as defined by Section 512 (A)”

P10, Ln 2

“(1) of the IRC is subject to federal income tax. The”

P10, Ln 2

“academy had no unrelated business income for the year”

P10, Ln 2

“ended December 31, 2017. Accordingly, no provision”

P10, Ln 2

“for income tax has been made. The Financial Accounting”

P10, Ln 2

“Standards Board requires management to annually”

P10, Ln 2

“evaluate the academy's tax positions, including”

P10, Ln 2

“accounting and measurement of uncertain tax positions.”

P10, Ln 2

“For the year ending December 31, 2017, management”

P10, Ln 2

“concluded that no uncertain tax positions had been”

P10, Ln 2

“taken that would require adjustment to or disclosure in”

P10, Ln 2

“the financial statement. With few exceptions, the”

Raw XML AppendixShowing 400 of 502 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/AgentTrusteeEtcInd0false
IRS990ScheduleD/DisclosedForCharitablePrpsInd0false
IRS990ScheduleD/DisclosedOrgLegCtrlInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt026390
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0115211
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0141601
IRS990ScheduleD/ExpensesNotReportedAmt055677
IRS990ScheduleD/ExpensesSubtotalAmt0495633
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt027165
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt022307
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt049472
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt015000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Security Deposit
IRS990ScheduleD/OtherExpensesIncludedAmt055677
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt054894
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt136817
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt210978
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Unearned Tuition
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Student Advance Payments
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Accrued Expenses
IRS990ScheduleD/OtherRevenueAmt055677
IRS990ScheduleD/RevenueNotReportedAmt055677
IRS990ScheduleD/RevenueSubtotalAmt0509704
IRS990ScheduleD/Section170hRqrStsfdInd0false
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is a not-for-profit corporation that is exempt from federal
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1exempt from federal income taxes under Section 501 (c)
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2(3) of the Internal Revenue Code ("IRC") whereby only
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3unrelated business income as defined by Section 512 (A)
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4(1) of the IRC is subject to federal income tax. The
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt5academy had no unrelated business income for the year
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt6ended December 31, 2017. Accordingly, no provision
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt7for income tax has been made. The Financial Accounting
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt8Standards Board requires management to annually
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt9evaluate the academy's tax positions, including
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt10accounting and measurement of uncertain tax positions.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt11For the year ending December 31, 2017, management
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt12concluded that no uncertain tax positions had been
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt13taken that would require adjustment to or disclosure in
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt14the financial statement. With few exceptions, the
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0P10, Ln 2
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc14P10, Ln 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt053555
IRS990ScheduleD/TotalBookValueOtherAssetsAmt015000
IRS990ScheduleD/TotalExpensesPerForm990Amt0495633
IRS990ScheduleD/TotalLiabilityAmt0102689
IRS990ScheduleD/TotalRevenuePerForm990Amt0509704
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0565381
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0551310
IRS990ScheduleD/WrittenPolicyMonitoringInd0false
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Publication of this policy is is included in the most likely
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1read newspapers by prospective students and/or their families.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2families.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt3P1, Ln 6a The academy participates in student financial aid
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt4under the Title IV programs administrered by the
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt5United States Department of Education pursuant to
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt6the Higher Education Act of 1965, as amended.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt7Franklin Academy's non-discrimination policy is published on its web site. The employment applications, admissions documents and in the college catalog. It is also published annually in a newspaper of general circulation in each community the academy services
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0P1, Ln 3
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Other
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc4Other
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc5Other
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc6Other
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc7Part I Line 3
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0MICHAEL SMITH
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd3false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd4false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd5false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd6false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd7false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd8false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd9false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt016485
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Consulting Fees
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd0false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd1false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd2false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd3false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd4false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd5false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd4false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd5false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd6false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd7false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd8false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd9false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd4false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd5false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd6false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd7false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd8false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd9false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd4false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd5false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd6false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd7false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd8false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd9false
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0The Director was paid for consultations on the academy's
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt1cirriculum, programs details, organization and business
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt2services.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V - Additional Information
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule L, Part V
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule L, Part V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Karl Petersen and Diane Petersen are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the form 990 is made available to the members of the
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2governing body via email before the return is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All board members and key employees are required at the first board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4of the year to disclose new relationships that may be cause for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Independent members of the board of directors approve officers salaries.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The president approves the salaries of key employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The governing documents and financial statements are made available by
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8request at the corporate offices during normal business hours.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Other Expenses Total expenses - $20718.00 Program service expenses - $8995.00 Mgmt and general expenses - $11723.00 Fundraising expenses - $0.00
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Organization's Mission
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Franklin Academy, Inc.'s purpose is to graduate
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12well-rounded professional men and women, as well as, technically
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13technically competent cosmetologists, manicurists,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14aestheticians or instructions. Franklin Academy is devoted
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15to preparing students not only to pass the state
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16licensing examination but also to enter and be successful
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt17in all phases of cometology, manicuring, aesthetics, shampoo
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt18techs, as well as instructors.

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$243,411
Liabilities
$115,318
Net assets
$128,093
Revenue
$508,336
Expenses
$494,264
Net income
$14,072
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.97$1.11$0.86$3.44$3.61$0.17
2023Detailed filing. Detailed filing data is available for this year.$2.21$1.38$0.83$3.00$2.98$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.11$1.30$0.81$2.66$2.64$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.10$0.30$0.80$2.78$2.68$0.10
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.29$0.33$1.50$1.45$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.22$0.13$0.09$0.76$0.82$0.06
2018Summary only. Only limited summary data is available for this year.$0.26$0.12$0.15$0.70$0.68$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.12$0.13$0.51$0.49$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.25$0.13$0.11$0.36$0.52$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.39$0.13$0.26$0.39$0.53$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.62$0.22$0.40$0.47$0.53$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.71$0.26$0.46$0.69$0.60$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.28$0.37$0.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.23$0.34$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.28$0.24$0.45