Franklin Academy Inc

Analysis

Franklin Academy Inc is a registered charity in United States, based in Rutherfordton, NC. It received its IRS tax-exemption ruling in March 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Franklin Academy Inc reported income of $16.4m and spending of $15.0m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.5m to $16.4m (+13%), an average of +3.2% a year. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin Academy Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Gould Academy ($16.4m), Capistrano Valley Christian Schools Inc ($16.4m) and North Carolina Veterinary Medical Foundation Inc ($16.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 1.9% of the total. Other salaries and wages came to $9.2m. At year end it held assets of $25.0m against liabilities of $278k, net assets of $24.7m. It reported 234 employees.