Franklin College of Indiana

Analysis

Franklin College of Indiana is a registered charity in United States, based in Franklin, IN. It received its IRS tax-exemption ruling in April 1937, 89 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 June 2023, Franklin College of Indiana reported income of $45.0m and spending of $52.4m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $43.1m to $45.0m (+4.5%), an average of +1.1% a year. The sharpest change came in the year to June 2021, when income rose by 68%. 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 College of Indiana sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include The High Desert Partnership in Academic Excellence Foundation Inc ($45.0m), College Track ($45.0m) and Malone University ($45.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.9% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $1.4m (2.6% of expenses). Other salaries and wages came to $11.4m. It paid $106k in professional fundraising fees. At year end it held assets of $149.0m against liabilities of $29.4m, net assets of $119.7m. It reported 743 employees.