Franklin W Olin College of Engineering Inc

Analysis

Franklin W Olin College of Engineering Inc is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Franklin W Olin College of Engineering Inc reported income of $33.0m and spending of $59.8m, spending 181% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $35.2m to $33.0m (-6.2%), an average of -1.6% a year. The sharpest change came in the year to June 2023, when income dropped by 19%. Over the whole period it spent 153% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin W Olin College of Engineering Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Caliber Public Schools ($33.0m), Compass Charter Schools ($33.1m) and Seiu 775 Benefits Group ($33.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $2.1m (3.5% of expenses). Other salaries and wages came to $14.1m. At year end it held assets of $487.4m against liabilities of $167.5m, net assets of $319.9m. It reported 430 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.