Franklin University

Analysis

Franklin University is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in June 1966, 60 years ago. 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 2023, Franklin University reported income of $87.7m and spending of $88.5m, spending 101% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $73.8m to $87.7m (+19%), an average of +4.4% a year. The sharpest change came in the year to July 2022, when income rose by 15%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Franklin University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Lowcountry Food Bank Inc ($87.5m), Fresno Pacific University ($88.1m) and Mount Allison University ($87.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 2.2% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $3.4m (3.8% of expenses). Other salaries and wages came to $37.2m. At year end it held assets of $133.5m against liabilities of $25.1m, net assets of $108.3m. It reported 1,228 employees.