Franklin News Foundation

Analysis

Franklin News Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Franklin News Foundation reported income of $4.8m and spending of $5.3m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $4.8m (+110%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin News Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Bais Yaakov High School of Lakewood Inc ($4.8m), Cheder Chabad - Philadelphia ($4.8m) and Cold Spring School Inc ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $2.7m. At year end it held assets of $901k against liabilities of $1.1m, net assets of -$186k. It reported 48 employees.