Civic Intelligence

Franklin School Facilities Corporation

990 • Fiscal year 2019 • EIN 83-1053789

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 12, 2020

Organization Profile
698 Howard StreeetSpartanburg, SC 29303

(864) 598-0097

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.98x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

22.59x

Higher debt load relative to revenue than 98% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

86th percentile

36%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

$10,159,370

No earlier filing loaded for comparison.

Net Assets

$159,370

No earlier filing loaded for comparison.

Liabilities

$10,000,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin86th percentile

Revenue

$442,660

No earlier filing loaded for comparison.

Expenses

$283,290

No earlier filing loaded for comparison.

Net Income

$159,370

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MAssets 2019: $10,159,370Liabilities 2019: $10,000,000Net Assets 2019: $159,3702019Assets 2020: $9,794,005Liabilities 2020: $10,020,391Net Assets 2020: -$226,3862020Assets 2021: $9,442,648Liabilities 2021: $10,049,556Net Assets 2021: -$606,9082021Assets 2022: $9,064,757Liabilities 2022: $10,056,860Net Assets 2022: -$992,1032022Assets 2023: $8,707,523Liabilities 2023: $10,074,559Net Assets 2023: -$1,367,0362023Assets 2024: $8,302,197Liabilities 2024: $10,024,558Net Assets 2024: -$1,722,3612024

Highlighted filing

2019

Assets$10,159,370
Liabilities$10,000,000
Net Assets$159,370
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2019: $442,660Expenses 2019: $283,290Net Income 2019: $159,3702019Revenue 2020: $102,621Expenses 2020: $488,377Net Income 2020: -$385,7562020Revenue 2021: $127,616Expenses 2021: $508,140Net Income 2021: -$380,5242021Revenue 2022: $126,036Expenses 2022: $511,227Net Income 2022: -$385,1912022Revenue 2023: $127,360Expenses 2023: $502,294Net Income 2023: -$374,9342023Revenue 2024: $128,806Expenses 2024: $509,133Net Income 2024: -$380,3272024

Highlighted filing

2019

Revenue$442,660
Expenses$283,290
Net Income$159,370
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 12, 2020
Return Version
2018v3.2
Gross Receipts
$442,660
Mission and Program Overview

Mission

To assist and support northside development corporation, a south carolina nonprofit corporation having received a determination of exemption from federal income taxation from the internal revenue service in accordance with section 501(c)(3) of the code ("ndc") in furtherance of its exempt purposes by inter alia, acquiring, developing, selling, donating, contributing, owning, operating, leasing, managing, or granting rights of access, use or possession, of real property and improvements thereon in the area of the city of spartanburg, south carolina (the "city") commonly referred to as "northside," including but not limited to, facilities used as early childhood educational facilities. Without limitation of the foregoing, the purposes of ndc to be supported by activities of the corporation include (i) purchasing or otherwise acquiring, (ii) selling or otherwise transferring, (iii) leasing, (iv) managing and/or developing or redeveloping real property and improvements thereon within the n

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$9,375,072-
Intangible Assets-$253,613-
Cash and Non-Interest-Bearing Accounts-$40,062-
Total Assets$0$10,159,370▲ $10,159,370
Other Assets Total-$490,623-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$10,000,000-
Total Liabilities$0$10,000,000▲ $10,000,000
Net Assets / Fund Balance
Unrestricted Net Assets-$159,370-
Total Net Assets Fund Balance$0$159,370▲ $159,370
Total Liabilities and Net Assets / Fund Balance$0$10,159,370▲ $10,159,370

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,480,324$94,688$7,575,012
Land$925,032-$925,032
Equipment$656,656$34,561$691,217
Other Land Buildings$313,060$8,027$321,087
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
William Barnet IiiChairman
Deborah MckettyTrustee
Rochelle WilliamsTrustee
Terril BatesTrustee
Ed MemmottSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$381,439
Program Service Revenue
$50,000
Investment Income
$11,221
Other Revenue
$0
All Other Contributions
$381,439
Change in Net Assets
$159,370

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
Real Estate Commercial1$76,100Cost
Total Noncash Contributions1$76,100-

Audited Revenue Reconciliation

Revenue per Audited Statements
$442,660
Total Revenue per Audited Statements
$442,660
Total Revenue per Form 990
$442,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$283,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$175,490--$175,490
Interest$61,662--$61,662
Fees for Services Other$22,580--$22,580
Other Expenses$7,632--$7,632
Total Functional Expenses$283,290$0$0$283,290

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$283,290
Total Expenses per Audited Statements$283,290
Total Expenses per Form 990$283,290
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
No
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, Page 6, Part VI, Line 11B

“The officers review the information return as considered necessary.”

Form 990, Page 6, Part VI, Line 19

“Available upon reasonable request at the organization's offices.”

Filing and Contact Details

Filer

Filer Name
Franklin School Facilities
EIN
83-1053789
Phone
8645980097
Address
698 HOWARD STREEET, SPARTANBURG, SC 29303

Signing Officer

Name
William Barnet Iii
Title
Chairman
Phone
8645980097
Signed
2020-02-12

Organization Details

Principal Officer
William Barnet Iii
Formed
2018
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Norman Johnson & Co Pa
Address
812 E MAIN ST, SPARTANBURG, SC 29302
Preparer
Gary J Johnson CPA
Phone
8645738623
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To assist and support northside development corporation, a south carolina nonprofit corporation having received a determination of exemption from federal income taxation from the internal revenue service in accordance with section 501(c)(3) of the code ("ndc") in furtherance of its exempt purposes by inter alia, acquiring, developing, selling, donating, contributing, owning, operating, leasing, managing, or granting rights of access, use or possession, of real property and improvements thereon in the area of the city of spartanburg, south carolina (the "city") commonly referred to as "northside," including but not limited to, facilities used as early childhood educational facilities. Without limitation of the foregoing, the purposes of ndc to be supported by activities of the corporation include (i) purchasing or otherwise acquiring, (ii) selling or otherwise transferring, (iii) leasing, (iv) managing and/or developing or redeveloping real property and improvements thereon within the northside with intention of increasing economic development within the city, increasing property tax revenues of the city, or alleviating blight, dilapidation, obsolescence, decay or dangerous or unsafe conditions in the city.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST AND SUPPORT NORTHSIDE DEVELOPMENT CORPORATION, A SOUTH CAROLINA NONPROFIT CORPORATION HAVING RECEIVED A DETERMINATION OF EXEMPTION FROM FEDERAL INCOME TAXATION FROM THE INTERNAL REVENUE SERVICE IN ACCORDANCE WITH SECTION 501(C)(3) OF THE CODE ("NDC") IN FURTHERANCE OF ITS EXEMPT PURPOSES BY INTER ALIA, ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, OR GRANTING RIGHTS OF ACCESS, USE OR POSSESSION, OF REAL PROPERTY AND IMPROVEMENTS THEREON IN THE AREA OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE "CITY") COMMONLY REFERRED TO AS "NORTHSIDE," INCLUDING BUT NOT LIMITED TO, FACILITIES USED AS EARLY CHILDHOOD EDUCATIONAL FACILITIES. WITHOUT LIMITATION OF THE FOREGOING, THE PURPOSES OF NDC TO BE SUPPORTED BY ACTIVITIES OF THE CORPORATION INCLUDE (I) PURCHASING OR OTHERWISE ACQUIRING, (II) SELLING OR OTHERWISE TRANSFERRING, (III) LEASING, (IV) MANAGING AND/OR DEVELOPING OR REDEVELOPING REAL PROPERTY AND IMPROVEMENTS THEREON WITHIN THE NORTHSIDE WITH INTENTION OF INCREASING ECONOMIC DEVELOPMENT WITHIN THE CITY, INCREASING PROPERTY TAX REVENUES OF THE CITY, OR ALLEVIATING BLIGHT, DILAPIDATION, OBSOLESCENCE, DECAY OR DANGEROUS OR UNSAFE CONDITIONS IN THE CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS REVIEW THE INFORMATION RETURN AS CONSIDERED NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REASONABLE REQUEST AT THE ORGANIZATION'S OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPARTANBURG
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0285112
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt176100
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt210000000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt35058692
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt010159370
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt010159370
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0381439
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0283290
IRS990/TotalFunctionalExpensesGrp/TotalAmt0283290
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IRS990/TotalLiabilitiesGrp/EOYAmt010000000
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0159370
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IRS990/TotalProgramServiceRevenueAmt050000
IRS990/TotalRevenueGrp/ExclusionAmt061221
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0442660
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010159370
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0159370
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0158 W MAIN ST
IRS990/USAddress/CityNm0SPARTANBURG
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029302
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM BARNET III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08645980097
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN SCHOOL FACILITIES
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0831053789
ReturnHeader/Filer/PhoneNum08645980097
ReturnHeader/Filer/USAddress/AddressLine1Txt0698 HOWARD STREEET
ReturnHeader/Filer/USAddress/CityNm0SPARTANBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029303
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CBAE4F7F91812EDDE127A62756B92BCC0CCDE18E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CBAE4F7F91812EDDE127A62756B92BCC0CCDE18E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0156.19.53.58
ReturnHeader/FilingSecurityInformation/IPDt02020-02-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:51:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570969493
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NORMAN JOHNSON & CO PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0812 E MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPARTANBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029302
ReturnHeader/PreparerPersonGrp/PhoneNum08645738623
ReturnHeader/PreparerPersonGrp/PreparationDt02020-02-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARY J JOHNSON CPA
ReturnHeader/ReturnTs02020-02-24T15:51:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,159,370
Liabilities
$10,000,000
Net assets
$159,370
Revenue
$442,660
Expenses
$283,290
Net income
$159,370
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.30$10.0$1.72$0.13$0.51$0.38
2023Summary only. Only limited summary data is available for this year.$8.71$10.1$1.37$0.13$0.50$0.37
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.06$10.1$0.99$0.13$0.51$0.39
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.44$10.0$0.61$0.13$0.51$0.38
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.79$10.0$0.23$0.10$0.49$0.39
2019Detailed filing. Detailed filing data is available for this year.$10.2$10.0$0.16$0.44$0.28$0.16