Franklin School of Innovation Inc

Analysis

Franklin School of Innovation Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in April 2014, 12 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 School of Innovation Inc reported income of $10.2m and spending of $9.3m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.2m to $10.2m (+95%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin School of Innovation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Sarasota Suncoast Academy ($10.2m), Uchcfc Circle Road Corp ($10.2m) and Step Academy ($10.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.4% and program service revenue 78% of the total. Other salaries and wages came to $4.5m. At year end it held assets of $29.1m against liabilities of $24.1m, net assets of $5.0m. It reported 143 employees.