Civic Intelligence

Franklin Academy Incorporated

990 • Fiscal year 2024 • EIN 72-0691938

Aug 01, 2023 to Jul 31, 2024 • Filed on Sep 12, 2024

2110 Loop RoadWinnsboro, LA 71295

(318) 435-9520

Siviq Scores

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

Liabilities / Assets

74th percentile

0.29x

Higher debt load relative to assets than 74% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.30x

Higher debt load relative to revenue than 73% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

42nd percentile

1.1%

Higher net margin than 42% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

44th percentile

$26,038

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

29th percentile

-2.6%

Faster asset growth than 29% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

4.7%

Faster revenue growth than 44% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,318,941

Down $34,637 (-2.6%) from 2023

Net Assets

Up

$936,983

Up $14,211 (+1.5%) from 2023

Liabilities

Down

$381,958

Down $48,848 (-11%) from 2023

Revenue

Up

$1,269,513

Up $56,623 (+4.7%) from 2023

Expenses

Up

$1,255,302

Up $54,266 (+4.5%) from 2023

Net Income

Up

$14,211

Up $2,357 (+20%) from 2023

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2012: $261,673Liabilities 2012: $928Net Assets 2012: $260,7452012Assets 2013: $326,810Liabilities 2013: $1,379Net Assets 2013: $325,4312013Assets 2014: $388,627Liabilities 2014: $126Net Assets 2014: $388,5012014Assets 2015: $545,359Liabilities 2015: $2,090Net Assets 2015: $543,2692015Assets 2016: $856,458Liabilities 2016: $225,388Net Assets 2016: $631,1202016Assets 2017: $906,084Liabilities 2017: $215,901Net Assets 2017: $690,1832017Assets 2018: $770,275Liabilities 2018: $162,847Net Assets 2018: $607,4282018Assets 2019: $699,235Liabilities 2019: $133,142Net Assets 2019: $566,0932019Assets 2020: $827,885Liabilities 2020: $103,544Net Assets 2020: $724,3412020Assets 2021: $958,770Liabilities 2021: $60,630Net Assets 2021: $898,1402021Assets 2022: $1,364,659Liabilities 2022: $453,741Net Assets 2022: $910,9182022Assets 2023: $1,353,578Liabilities 2023: $430,806Net Assets 2023: $922,7722023Assets 2024: $1,318,941Liabilities 2024: $381,958Net Assets 2024: $936,9832024Assets 2025: $1,378,858Liabilities 2025: $350,869Net Assets 2025: $1,027,9892025

Highlighted filing

2024

Assets$1,318,941
Liabilities$381,958
Net Assets$936,983

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2012: $928,351Expenses 2012: $878,618Net Income 2012: $49,7332012Revenue 2013: $959,105Expenses 2013: $894,419Net Income 2013: $64,6862013Revenue 2014: $1,000,588Expenses 2014: $937,518Net Income 2014: $63,0702014Revenue 2015: $1,195,861Expenses 2015: $1,041,093Net Income 2015: $154,7682015Revenue 2016: $1,270,322Expenses 2016: $1,203,277Net Income 2016: $67,0452016Revenue 2017: $1,222,344Expenses 2017: $1,163,281Net Income 2017: $59,0632017Revenue 2018: $1,119,121Expenses 2018: $1,201,876Net Income 2018: -$82,7552018Revenue 2019: $1,117,255Expenses 2019: $1,158,590Net Income 2019: -$41,3352019Revenue 2020: $1,225,770Expenses 2020: $1,067,522Net Income 2020: $158,2482020Revenue 2021: $1,221,264Expenses 2021: $1,047,465Net Income 2021: $173,7992021Revenue 2022: $1,185,958Expenses 2022: $1,173,180Net Income 2022: $12,7782022Revenue 2023: $1,212,890Expenses 2023: $1,201,036Net Income 2023: $11,8542023Revenue 2024: $1,269,513Expenses 2024: $1,255,302Net Income 2024: $14,2112024Revenue 2025: $1,354,709Expenses 2025: $1,263,703Net Income 2025: $91,0062025

Highlighted filing

2024

Revenue$1,269,513
Expenses$1,255,302
Net Income$14,211
Jump To
Filing Snapshot
Filing Period
Aug 1, 2023 to Jul 31, 2024
Signed
Sep 12, 2024
Return Version
2023v5.0
Gross Receipts
$1,405,014
Mission and Program Overview

Mission

To provide quality education in a christian atmosphere.

PRIVATE SCHOOL

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$842,558$801,571▼ $40,987
Savings and Temporary Cash Investments$333,650$285,260▼ $48,390
Cash and Non-Interest-Bearing Accounts$170,583$224,960▲ $54,377
Accounts Receivable$6,787$6,725▼ $62
Total Assets$1,353,578$1,318,941▼ $34,637
Other Assets Total-$425-
Liabilities
Unsecured Notes Loans Payable$428,170$381,765▼ $46,405
Accounts Payable and Accrued Expenses$2,636$193▼ $2,443
Total Liabilities$430,806$381,958▼ $48,848
Net Assets / Fund Balance
Net Assets With Donor Restrictions$842,558$801,571▼ $40,987
Net Assets Without Donor Restrictions$80,214$135,412▲ $55,198
Total Net Assets Fund Balance$922,772$936,983▲ $14,211
Total Liabilities and Net Assets / Fund Balance$1,353,578$1,318,941▼ $34,637

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$801,571$998,967$1,800,538
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Patty RemoreTreasurerFT$26,038$26,038

Board Members and Trustees

NameTitle
Kevin MontgomeryPresident
Ariel ChappelleBoard Member
Courtney WrightBoard Member
Justin RobinsonBoard Member
Mandy FaulkBoard Member
Jerred AndersonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,069,294
Investment Income
$11,880
Other Revenue
$188,339
Change in Net Assets
$14,211
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$844,294
Other Expenses$411,008
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$757,589--$757,589
Occupancy$71,317--$71,317
Payroll Taxes$60,667--$60,667
Depreciation Depletion$54,270--$54,270
All Other Expenses$47,307--$47,307
Insurance$44,531--$44,531
Current Officers, Directors, Trustees, and Key Employees$26,038--$26,038
Office Expenses$20,070--$20,070
Fees for Services Other$15,400--$15,400
Interest$13,595--$13,595
Other Expenses$12,809--$12,809
Fees for Services Accounting$7,650--$7,650
Advertising$378--$378
Total Functional Expenses$1,255,302$0$0$1,255,302
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$278,358
Fundraising Direct Expenses$123,691
Gaming Gross Income$38,350
Gaming Direct Expenses$11,810
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ag Expo$153,740$153,740$25,581$128,159
Fund Raising$84,262$84,262$75,740$8,522
Total Events$278,358$278,358$123,691$154,667
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The headmaster and the president of the board review a copy of the return. A copy is provided for the board's inspectin.

Form 990, Page 6, Part VI, Line 15A

Compensation issues are reviewed and approved by the board of directors.

Form 990, Page 6, Part VI, Line 15B

Compensation issues are reviewed and approved by the board of directors.

Form 990, Page 6, Part VI, Line 19

These are available, upon request. With inspection at franklin academy, inc.'s office in winnsboro, louisiana.

Filing and Contact Details

Filer

Filer Name
Franklin Academy
EIN
72-0691938
Phone
3184359520
Address
2110 LOOP ROAD, WINNSBORO, LA 71295

Signing Officer

Name
Betina Finlayson
Title
Headmaster
Phone
3184359520
Signed
2024-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Montgomery
Formed
1972
Legal Domicile
La
Voting Board Members
7
Independent Board Members
7
Employees
52

Preparer

Firm
Marcus Robinson & Hassell Branch
Address
702 EVADALE, WINNSBORO, LA 71295
Preparer
William Doyle Hassell Jr
Phone
3184357519
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

To provide quality educatioon in a christian atmosphere.

Raw XML AppendixShowing 400 of 401 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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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleG/CharitableDistributionRqrInd0false
IRS990ScheduleG/CntrctWith3rdPrtyForGameRevInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0123691
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AG EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0FUND RAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0153740
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt084262
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt040356
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0278358
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0153740
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt084262
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt040356
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0278358
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0154667
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt022370
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0123691
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt025581
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt075740
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990ScheduleG/GamingInformationGrp/DirectExpenseSummaryGamingAmt011810
IRS990ScheduleG/GamingInformationGrp/GrossRevenueOtherGamingAmt038350
IRS990ScheduleG/GamingInformationGrp/GrossRevenueTotalGamingAmt038350
IRS990ScheduleG/GamingInformationGrp/NetGamingIncomeSummaryAmt026540
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssOtherGamingAmt011810
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssTotalGamingAmt011810
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborBingoInd0false
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborOtherGamingInd0false
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborPullTabsInd0false
IRS990ScheduleG/GamingWithNonmembersInd0false
IRS990ScheduleG/IndividualWithBooksNm0PATTY REMORE
IRS990ScheduleG/LicensedInd0true
IRS990ScheduleG/LicenseSuspendedEtcInd0false
IRS990ScheduleG/MemberOfOtherEntityInd0false
IRS990ScheduleG/PersonsWithBooksUSAddress/AddressLine1Txt02110 LOOP ROAD
IRS990ScheduleG/PersonsWithBooksUSAddress/CityNm0WINNSBORO
IRS990ScheduleG/PersonsWithBooksUSAddress/StateAbbreviationCd0LA
IRS990ScheduleG/PersonsWithBooksUSAddress/ZIPCd071295
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE QUALITY EDUCATIOON IN A CHRISTIAN ATMOSPHERE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE HEADMASTER AND THE PRESIDENT OF THE BOARD REVIEW A COPY OF THE RETURN. A COPY IS PROVIDED FOR THE BOARD'S INSPECTIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION ISSUES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION ISSUES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THESE ARE AVAILABLE, UPON REQUEST. WITH INSPECTION AT FRANKLIN ACADEMY, INC.'S OFFICE IN WINNSBORO, LOUISIANA.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01353578
IRS990/TotalAssetsEOYAmt01318941
IRS990/TotalAssetsGrp/BOYAmt01353578
IRS990/TotalAssetsGrp/EOYAmt01318941
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01255302
IRS990/TotalFunctionalExpensesGrp/TotalAmt01255302
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0430806
IRS990/TotalLiabilitiesEOYAmt0381958
IRS990/TotalLiabilitiesGrp/BOYAmt0430806
IRS990/TotalLiabilitiesGrp/EOYAmt0381958
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0922772
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0936983
IRS990/TotalOtherProgSrvcExpenseAmt080308
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt012967
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt012967
IRS990/TotalProgramServiceExpensesAmt01255302
IRS990/TotalProgramServiceRevenueAmt01069294
IRS990/TotalReportableCompFromOrgAmt026038
IRS990/TotalRevenueGrp/ExclusionAmt0170451
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01088306
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01269513
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01353578
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01318941
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0428170
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0381765
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02110 LOOP ROAD
IRS990/USAddress/CityNm0WINNSBORO
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd071295
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BETINA FINLAYSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEADMASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum03184359520
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0720691938
ReturnHeader/Filer/PhoneNum03184359520
ReturnHeader/Filer/USAddress/AddressLine1Txt02110 LOOP ROAD
ReturnHeader/Filer/USAddress/CityNm0WINNSBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd071295
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARCUS ROBINSON & HASSELL BRANCH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0702 EVADALE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINNSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd071295
ReturnHeader/PreparerPersonGrp/PhoneNum03184357519
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM DOYLE HASSELL JR
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-09-19T10:47:24-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-08-01
ReturnHeader/TaxPeriodEndDt02024-07-31

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.35$1.03$1.35$1.26$0.09
2024Detailed filing. Detailed filing data is available for this year.$1.32$0.38$0.94$1.27$1.26$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.35$0.43$0.92$1.21$1.20$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.36$0.45$0.91$1.19$1.17$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.96$0.06$0.90$1.22$1.05$0.17
2020Summary only. Only limited summary data is available for this year.$0.83$0.10$0.72$1.23$1.07$0.16
2019Summary only. Only limited summary data is available for this year.$0.70$0.13$0.57$1.12$1.16$0.04
2018Summary only. Only limited summary data is available for this year.$0.77$0.16$0.61$1.12$1.20$0.08
2017Summary only. Only limited summary data is available for this year.$0.91$0.22$0.69$1.22$1.16$0.06
2016Summary only. Only limited summary data is available for this year.$0.86$0.23$0.63$1.27$1.20$0.07
2015Summary only. Only limited summary data is available for this year.$0.55$0.00$0.54$1.20$1.04$0.15
2014Summary only. Only limited summary data is available for this year.$0.39$0.00$0.39$1.00$0.94$0.06
2013Summary only. Only limited summary data is available for this year.$0.33$0.00$0.33$0.96$0.89$0.06
2012Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$0.93$0.88$0.05