Franklin Center

Analysis

Franklin Center is a registered charity in United States, based in Golden Valley, MN. It received its IRS tax-exemption ruling in June 2004, 22 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 July 2024, Franklin Center reported income of $7.3m and spending of $7.9m, spending 108% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income grew from $3.3m to $7.3m (+120%), an average of +22% a year. The sharpest change came in the year to July 2021, when income rose by 237%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin Center sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Inquiry Charter School ($7.3m), Washington Global Public Charter School ($7.3m) and Dr Robert Ketterer Charter School Inc ($7.3m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 9.2% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $241k (3.1% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $18.9m against liabilities of $3.0m, net assets of $15.9m. It reported 84 employees.