Franklin Heritage Inc

Analysis

Franklin Heritage Inc is a registered charity in United States, based in Franklin, IN. It received its IRS tax-exemption ruling in June 1986, 40 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Franklin Heritage Inc reported income of $1.3m and spending of $1.4m, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $530k to $1.3m (+147%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Franklin Heritage Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within IN. Charities of a similar size with the same main cause include Zanesville Day Nursery Association Zanesville Day Nursery ($1.3m), The Wellness Council of America ($1.3m) and Healing Housing Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 42% of the total. Other salaries and wages came to $457k. At year end it held assets of $1.3m against liabilities of $253k, net assets of $1.1m. It reported 19 employees.