Franklin Affordable Housing Corporation Inc

Analysis

Franklin Affordable Housing Corporation Inc is a registered charity in United States, based in Franklin, KY. It received its IRS tax-exemption ruling in December 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Franklin Affordable Housing Corporation Inc reported income of $300k and spending of $106k, leaving 65% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $58k to $300k (+418%), an average of +51% a year. The sharpest change came in the year to March 2022, when income rose by 388%. Over the whole period it spent 30% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Franklin Affordable Housing Corporation Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within KY. Charities of a similar size with the same main cause include Riverside Park at Way of the Cross Inc ($300k), Presbyterian Apartments of Northport II ($300k) and Lakewood Senior Citizens Inc ($300k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 27% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $6,300 (5.9% of expenses). At year end it held assets of $2.0m against liabilities of $690k, net assets of $1.3m. It reported 11 employees.