Franklin Place Inc

Analysis

Franklin Place Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in August 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, Franklin Place Inc reported income of $120k and spending of $167k, spending 139% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $121k to $120k (-0.8%), an average of -0.8% a year. Over the whole period it spent 134% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Franklin Place Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within KY. Charities of a similar size with the same main cause include Downtown Bellefonte Inc ($120k), Billie Sutton Leadership Institute ($120k) and Cape Verdean Recognition Committee Inc ($120k).

On its Form 990-EZ for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $325k against liabilities of $790k, net assets of -$465k.