Franklins Promise Coalition Incorporated

Analysis

Franklins Promise Coalition Incorporated is a registered charity in United States, based in Eastpoint, FL. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Franklins Promise Coalition Incorporated reported income of $2.5m and spending of $2.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $2.5m (+120%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 107%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Franklins Promise Coalition Incorporated sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Seven Hills Foundation Inc ($2.5m), Equitable Food Initiative ($2.5m) and Kingdom Pathways ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.4% and program service revenue 97% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $1.1m against liabilities of $607k, net assets of $533k. It reported 94 employees.