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            <AddressLine1Txt>301 MERRITT 7 - SUITE 1</AddressLine1Txt>
            <CityNm>NORWALK</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06851</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>MARKETING</ServicesDesc>
        <CompensationAmt>163960</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>2</CntrctRcvdGreaterThan100KCnt>
      <FundraisingAmt>95820</FundraisingAmt>
      <AllOtherContributionsAmt>219222</AllOtherContributionsAmt>
      <NoncashContributionsAmt>17669</NoncashContributionsAmt>
      <TotalContributionsAmt>315042</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>TUITION AND FEES</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>7444605</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>7444605</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>MISC. SCHOOL INCOME</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>18677</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>18677</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>7463282</TotalProgramServiceRevenueAmt>
      <ContriRptFundraisingEventAmt>95820</ContriRptFundraisingEventAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>7778324</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>7463282</RelatedOrExemptFuncIncomeAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>136500</TotalAmt>
        <ProgramServicesAmt>136500</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>207453</TotalAmt>
        <ProgramServicesAmt>69151</ProgramServicesAmt>
        <ManagementAndGeneralAmt>69151</ManagementAndGeneralAmt>
        <FundraisingAmt>69151</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>3321232</TotalAmt>
        <ProgramServicesAmt>2294704</ProgramServicesAmt>
        <ManagementAndGeneralAmt>921596</ManagementAndGeneralAmt>
        <FundraisingAmt>104932</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>91872</TotalAmt>
        <ProgramServicesAmt>68904</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18374</ManagementAndGeneralAmt>
        <FundraisingAmt>4594</FundraisingAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>1331359</TotalAmt>
        <ProgramServicesAmt>1146428</ProgramServicesAmt>
        <ManagementAndGeneralAmt>156995</ManagementAndGeneralAmt>
        <FundraisingAmt>27936</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>278008</TotalAmt>
        <ProgramServicesAmt>200793</ProgramServicesAmt>
        <ManagementAndGeneralAmt>63829</ManagementAndGeneralAmt>
        <FundraisingAmt>13386</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>15220</TotalAmt>
        <ManagementAndGeneralAmt>15220</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>43240</TotalAmt>
        <ManagementAndGeneralAmt>43240</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>70275</TotalAmt>
        <ProgramServicesAmt>56860</ProgramServicesAmt>
        <ManagementAndGeneralAmt>13415</ManagementAndGeneralAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>181160</TotalAmt>
        <ManagementAndGeneralAmt>180263</ManagementAndGeneralAmt>
        <FundraisingAmt>897</FundraisingAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>61704</TotalAmt>
        <ProgramServicesAmt>46715</ProgramServicesAmt>
        <ManagementAndGeneralAmt>14287</ManagementAndGeneralAmt>
        <FundraisingAmt>702</FundraisingAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>105529</TotalAmt>
        <ProgramServicesAmt>89700</ProgramServicesAmt>
        <ManagementAndGeneralAmt>15829</ManagementAndGeneralAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>234503</TotalAmt>
        <ProgramServicesAmt>203015</ProgramServicesAmt>
        <ManagementAndGeneralAmt>31488</ManagementAndGeneralAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>41874</TotalAmt>
        <ProgramServicesAmt>21568</ProgramServicesAmt>
        <ManagementAndGeneralAmt>16830</ManagementAndGeneralAmt>
        <FundraisingAmt>3476</FundraisingAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>6893</TotalAmt>
        <ManagementAndGeneralAmt>5378</ManagementAndGeneralAmt>
        <FundraisingAmt>1515</FundraisingAmt>
      </ConferencesMeetingsGrp>
      <InterestGrp>
        <TotalAmt>450836</TotalAmt>
        <ProgramServicesAmt>382676</ProgramServicesAmt>
        <ManagementAndGeneralAmt>68123</ManagementAndGeneralAmt>
        <FundraisingAmt>37</FundraisingAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>373713</TotalAmt>
        <ProgramServicesAmt>317656</ProgramServicesAmt>
        <ManagementAndGeneralAmt>56057</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>139474</TotalAmt>
        <ProgramServicesAmt>120644</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18830</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>DINING SERVICES</Desc>
        <TotalAmt>551233</TotalAmt>
        <ProgramServicesAmt>485085</ProgramServicesAmt>
        <ManagementAndGeneralAmt>66148</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>REPAIRS &amp; MAINTENANCE</Desc>
        <TotalAmt>223311</TotalAmt>
        <ProgramServicesAmt>193421</ProgramServicesAmt>
        <ManagementAndGeneralAmt>29890</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>PREPAID TUITION DISCOUNTS</Desc>
        <TotalAmt>166650</TotalAmt>
        <ProgramServicesAmt>166650</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>SPECIAL EVENTS</Desc>
        <TotalAmt>73948</TotalAmt>
        <ProgramServicesAmt>69148</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4800</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>232753</TotalAmt>
        <ProgramServicesAmt>203325</ProgramServicesAmt>
        <ManagementAndGeneralAmt>15891</ManagementAndGeneralAmt>
        <FundraisingAmt>13537</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>8338740</TotalAmt>
        <ProgramServicesAmt>6272943</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1825634</ManagementAndGeneralAmt>
        <FundraisingAmt>240163</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>693285</BOYAmt>
        <EOYAmt>270620</EOYAmt>
      </CashNonInterestBearingGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>152000</BOYAmt>
        <EOYAmt>95000</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>90521</BOYAmt>
        <EOYAmt>100480</EOYAmt>
      </AccountsReceivableGrp>
      <InventoriesForSaleOrUseGrp>
        <BOYAmt>40</BOYAmt>
        <EOYAmt>57</EOYAmt>
      </InventoriesForSaleOrUseGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>85474</BOYAmt>
        <EOYAmt>38906</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>13444358</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>5455465</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>8096619</BOYAmt>
        <EOYAmt>7988893</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>41376</BOYAmt>
        <EOYAmt>140615</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>9159315</BOYAmt>
        <EOYAmt>8634571</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>208609</BOYAmt>
        <EOYAmt>497794</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>2697600</BOYAmt>
        <EOYAmt>2245981</EOYAmt>
      </DeferredRevenueGrp>
      <LoansFromOfficersDirectorsGrp>
        <EOYAmt>150000</EOYAmt>
      </LoansFromOfficersDirectorsGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>8586140</BOYAmt>
        <EOYAmt>8517007</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <UnsecuredNotesLoansPayableGrp>
        <EOYAmt>15000</EOYAmt>
      </UnsecuredNotesLoansPayableGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>21126</BOYAmt>
        <EOYAmt>123365</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>11513475</BOYAmt>
        <EOYAmt>11549147</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>-2446573</BOYAmt>
        <EOYAmt>-2930346</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>92413</BOYAmt>
        <EOYAmt>15770</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>-2354160</BOYAmt>
        <EOYAmt>-2914576</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>9159315</BOYAmt>
        <EOYAmt>8634571</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>-560416</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc12">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc5">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>826885</OtherCostOrOtherBasisAmt>
        <BookValueAmt>826885</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>6045879</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>1787550</DepreciationAmt>
        <BookValueAmt>4258329</BookValueAmt>
      </BuildingsGrp>
      <LeaseholdImprovementsGrp>
        <OtherCostOrOtherBasisAmt>4672528</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>2126532</DepreciationAmt>
        <BookValueAmt>2545996</BookValueAmt>
      </LeaseholdImprovementsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>1261188</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>915335</DepreciationAmt>
        <BookValueAmt>345853</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>637878</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>626048</DepreciationAmt>
        <BookValueAmt>11830</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>7988893</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>OPERATING LEASE LIABILITIES</Desc>
        <Amt>123365</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>123365</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>7778324</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>7778324</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>7778324</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>8338740</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>8338740</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>8338740</TotalExpensesPerForm990Amt>
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    <IRS990ScheduleE documentId="RetDoc6">
      <NondiscriminatoryPolicyStmtInd>true</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>true</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>true</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>true</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>true</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>true</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>true</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>false</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>false</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>false</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>false</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>false</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>false</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>false</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>false</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>false</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>false</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>true</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FRANKLIN ACADEMY ADVERTISES ITS POLICY THROUGH SCHOOL PUBLICATIONS, SUCH AS THE ADMISSIONS BROCHURE AND A NEWSLETTER AND THROUGH ITS WEBSITE. IN ALL OF THESE AVENUES OF ADVERTISEMENT THE FOLLOWING STATEMENT APPEARS: "FRANKLIN ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDER, ORIENTATION, OR NATIONAL ORIGIN IN ITS EDUCATIONAL PROGRAMS, ADMISSION AND HIRING POLICIES, OR ANY OF ITS SCHOOL ACTIVITIES."</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleG documentId="RetDoc7">
      <FundraisingEventInformationGrp>
        <Event1Nm>SCHOOL AUCTION</Event1Nm>
        <GrossReceiptsEvent1Amt>95820</GrossReceiptsEvent1Amt>
        <CharitableContriEvent1Amt>95820</CharitableContriEvent1Amt>
        <GrossReceiptsTotalAmt>95820</GrossReceiptsTotalAmt>
        <CharitableContributionsTotAmt>95820</CharitableContributionsTotAmt>
      </FundraisingEventInformationGrp>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="RetDoc8">
      <GrantRecordsMaintainedInd>false</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>SCHOLARSHIPS</GrantTypeTxt>
        <RecipientCnt>15</RecipientCnt>
        <CashGrantAmt>136500</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc9">
      <DiscretionarySpendingAcctInd>X</DiscretionarySpendingAcctInd>
      <HousingAllowanceOrResidenceInd>X</HousingAllowanceOrResidenceInd>
      <WrittenPolicyRefTAndEExpnssInd>true</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>true</SubstantiationRequiredInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>A FRED WEISSBACH</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>201550</BaseCompensationFilingOrgAmt>
        <OtherCompensationFilingOrgAmt>5999</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>5903</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>837</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>214289</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleL documentId="RetDoc10">
      <LoansBtwnOrgInterestedPrsnGrp>
        <PersonNm>BRUCE DUTCH</PersonNm>
        <RelationshipWithOrgTxt>BOARD MEMBER</RelationshipWithOrgTxt>
        <LoanToOrganizationInd>X</LoanToOrganizationInd>
        <OriginalPrincipalAmt>150000</OriginalPrincipalAmt>
        <BalanceDueAmt>150000</BalanceDueAmt>
        <DefaultInd>false</DefaultInd>
        <BoardOrCommitteeApprovalInd>true</BoardOrCommitteeApprovalInd>
        <WrittenAgreementInd>false</WrittenAgreementInd>
      </LoansBtwnOrgInterestedPrsnGrp>
      <TotalBalanceDueAmt>150000</TotalBalanceDueAmt>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>FRED WEISSBACH</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>KEY EMPLOYEE</RelationshipDescriptionTxt>
        <TransactionDesc>RENTAL OF PROPERTY</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>SEYMORE HAYS</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>KEY EMPLOYEE</RelationshipDescriptionTxt>
        <TransactionDesc>RENTAL OF PROPERTY</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>BRUCE DUTCH</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>BOARD MEMBER</RelationshipDescriptionTxt>
        <TransactionDesc>RENTAL OF PROPERTY</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>REBECCA HAYS</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>FAMILY MEMBER</RelationshipDescriptionTxt>
        <TransactionDesc>EMPLOYMENT</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>JOSH WEISSBACH</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>FAMILY MEMBER</RelationshipDescriptionTxt>
        <TransactionDesc>EMPLOYMENT</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>AMY PAXSON</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>FAMILY MEMBER</RelationshipDescriptionTxt>
        <TransactionDesc>EMPLOYMENT</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>ROBERT SHERLOCK</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>BOARD MEMBER</RelationshipDescriptionTxt>
        <TransactionDesc>SHORT TERM LOAN</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE L, PART V</FormAndLineReferenceDesc>
        <ExplanationTxt>PART IV: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (1) THE PRESIDENT, A. FRED WEISSBACH, WAS COMPENSATED 74,100 FOR TWO PROPERTIES HE RENTED TO THE SCHOOL. THESE PROPERTIES INCLUDED THREE HOMES, 50 ACRES OF LAND, A POND AND A BARN. ALL WERE AVAILABLE FOR THE EXCLUSIVE USE OF THE SCHOOL. (2) SEYMORE HAYS, HEAD OF SCHOOL, WAS COMPENSATED 18,000 FOR ONE PROPERTY HE RENTED TO THE SCHOOL FOR OFF CAMPUS HOUSING. (3) BRUCE DUTCH, BOARD MEMBER, WAS COMPENSATED 90,100 FOR SIX PROPERTIES HE RENTED TO THE SCHOOL FOR OFF CAMPUS HOUSING. (4) REBECCA HAYS,PROGRAM DIRECTOR, IS MARRIED TO SEYMORE HAYS, ASSISTANT HEAD OF SCHOOL (5) JOSH WEISSBACH, RESIDENTIAL SPECIALIST, IS A FAMILY MEMBER OF THE PRESIDENT, A. FRED WEISSBACH. (6) AMY PAXSON, HUMANITIES INSTRUCTOR, IS THE DAUGHTER-IN-LAW OF THE PRESIDENT, A. FRED WEISSBACH. (7) ROBERT SHERLOCK - CHAIRMAN, 15,000 SHORT TERM LOAN.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc11">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BRIGHT STUDENTS IN GRADES 8-12, AND PG. FRANKLIN CREATES A COMMUNITY-FOCUSED BOARDING AND DAY SCHOOL WHERE STUDENTS WITH UNIQUE LEARNING STYLES DEVELOP AND STRENGTHEN ACADEMIC AND SOCIAL COMPETENCIES VITAL TO THE PURSUIT OF COLLEGE GOALS, PROFESSIONAL ASPIRATIONS, AND FULFILLING LIVES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS REVIEWED BY THE ENTIRE BOARD OF TRUSTEES PRIOR TO THE FILING OF THE RETURN.</ExplanationTxt>
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        <ExplanationTxt>REGULAR MEETINGS ARE HELD WHERE THIS ISSUE CAN BE DISCUSSED.</ExplanationTxt>
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        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
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