Civic Intelligence

Franklin School Facilities Corporation

990 • Fiscal year 2020 • EIN 83-1053789

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 28, 2021

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

93rd percentile

1.02x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

97.64x

Higher debt load relative to revenue than 100% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

1st percentile

-376%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

16th percentile

-3.6%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-77%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$9,794,005

Down $365,365 (-3.6%) from 2019

Net Assets

Down

-$226,386

Down $385,756 (-242%) from 2019

Liabilities

Up

$10,020,391

Up $20,391 (+0.2%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$102,621

Down $340,039 (-77%) from 2019

Expenses

Up

$488,377

Up $205,087 (+72%) from 2019

Net Income

Down

-$385,756

Down $545,126 (-342%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

2020

Assets$9,794,005
Liabilities$10,020,391
Net Assets-$226,386
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

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

2020

Revenue$102,621
Expenses$488,377
Net Income-$385,756
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 28, 2021
Return Version
2019v5.0
Gross Receipts
$102,621
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$9,100,520▼ $274,552
Intangible Assets$253,613$211,923▼ $41,690
Accounts Receivable-$50,000-
Cash and Non-Interest-Bearing Accounts$40,062$8,318▼ $31,744
Total Assets$10,159,370$9,794,005▼ $365,365
Other Assets Total$490,623$423,244▼ $67,379
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,000,000$10,000,000→ $0
Other Liabilities-$20,391-
Total Liabilities$10,000,000$10,020,391▲ $20,391
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$159,370$-226,386▼ $385,756
Total Net Assets Fund Balance$159,370$-226,386▼ $385,756
Total Liabilities and Net Assets / Fund Balance$10,159,370$9,794,005▼ $365,365

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,290,949$284,063$7,575,012
Land$925,032-$925,032
Equipment$587,534$103,683$691,217
Other Land Buildings$297,005$24,082$321,087
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
William Barnet IiiChairman
Carey RothschildTrustee
Rochelle WilliamsTrustee
Tammie Hoy HawkinsTrustee
Ed MemmottSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$100,000
Investment Income
$2,621
Other Revenue
$0
Change in Net Assets
$-385,756

Audited Revenue Reconciliation

Revenue per Audited Statements
$102,621
Total Revenue per Audited Statements
$102,621
Total Revenue per Form 990
$102,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$488,377
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$316,241--$316,241
Interest$123,320--$123,320
Fees for Services Other$30,322$4,769-$35,091
Other Expenses$7,510--$7,510
Insurance$6,215--$6,215
Total Functional Expenses$483,608$4,769$0$488,377

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$488,377
Total Expenses per Audited Statements$488,377
Total Expenses per Form 990$488,377
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$20,391
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
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
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
2021-01-28

Organization Details

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

Preparer

Firm
Elliott & Painter Llp
Address
390 EAST HENRY STREET SUITE 203, SPARTANBURG, SC 29302
Preparer
Marcus Q Elliott Sr CPA
Phone
8645831476
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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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/ExpensesSubtotalAmt0488377
IRS990ScheduleD/LandGrp/BookValueAmt0925032
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0925032
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0297005
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt024082
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0321087
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020391
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/RevenueSubtotalAmt0102621
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09100520
IRS990ScheduleD/TotalExpensesPerForm990Amt0488377
IRS990ScheduleD/TotalLiabilityAmt020391
IRS990ScheduleD/TotalRevenuePerForm990Amt0102621
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0102621
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0488377
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0300698663
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOPMEN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0698 HOWARD STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPARTANBURG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd029303
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt010000000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt120391
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0TERMS OF NOTE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1C
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010159370
IRS990/TotalAssetsEOYAmt09794005
IRS990/TotalAssetsGrp/BOYAmt010159370
IRS990/TotalAssetsGrp/EOYAmt09794005
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04769
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0483608
IRS990/TotalFunctionalExpensesGrp/TotalAmt0488377
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010000000
IRS990/TotalLiabilitiesEOYAmt010020391
IRS990/TotalLiabilitiesGrp/BOYAmt010000000
IRS990/TotalLiabilitiesGrp/EOYAmt010020391
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0159370
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-226386
IRS990/TotalProgramServiceExpensesAmt0483608
IRS990/TotalProgramServiceRevenueAmt0100000
IRS990/TotalRevenueGrp/ExclusionAmt0102621
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0102621
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010159370
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09794005
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0158 W MAIN ST
IRS990/USAddress/CityNm0SPARTANBURG
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029302
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM BARNET III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08645980097
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-28
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/PreparerFirmGrp/PreparerFirmEIN0200758852
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ELLIOTT & PAINTER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0390 EAST HENRY STREET SUITE 203
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPARTANBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029302
ReturnHeader/PreparerPersonGrp/PhoneNum08645831476
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARCUS Q ELLIOTT SR CPA
ReturnHeader/ReturnTs02021-05-13T07:57:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,794,005
Liabilities
$10,020,391
Net assets
-$226,386
Revenue
$102,621
Expenses
$488,377
Net income
-$385,756
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
2020Detailed filing. Detailed filing data is available for this year.$9.79$10.0$0.23$0.10$0.49$0.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$10.0$0.16$0.44$0.28$0.16