Franklin School Facilities Corporation

Analysis

Franklin School Facilities Corporation is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in April 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Franklin School Facilities Corporation reported income of $127k and spending of $502k, spending 394% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $443k to $127k (-71%), an average of -27% a year. The sharpest change came in the year to June 2020, when income dropped by 77%. Over the whole period it spent 248% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Franklin School Facilities Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 49th percentile within SC. Charities of a similar size with the same main cause include Rogers Royals Face-Off Booster Club ($127k), Marysville High School Band Boosters Inc ($127k) and Grace House ($127k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $8.7m against liabilities of $10.1m, net assets of -$1.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.