FRANKLIN ACADEMY INCORPORATED: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- FRANKLIN ACADEMY INCORPORATED (EIN 22-3843855)
- Tax period
- 2015-07-01 to 2016-06-30
- Filed
- 2017-05-12
- IRS object ID
- 201701329349305950
- Schema version
- 2015v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule J
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-05-12T15:35:17-04:00 | ReturnTs |
| Tax Period End | 2016-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 522436535 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMER & COMPANY CPA'S LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 61 MAIN STREET | AddressLine1Txt |
| City | MIDDLETOWN | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 064573408 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223843855 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FRANKLIN ACADEMY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FRAN | BusinessNameControlTxt |
| Phone | 8608732700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 140 RIVER RD | AddressLine1Txt |
| City | EAST HADDAM | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06423 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | A FRED WEISSBACH | PersonNm |
| Person Title | HEAD OF SCHOOL | PersonTitleTxt |
| Phone | 8608732700 | PhoneNum |
| Signature | 2016-05-12 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | THOMAS D COMER | PreparerPersonNm |
| PTIN | P00129178 | PTIN |
| Phone | 8603462100 | PhoneNum |
| Preparation | 2017-05-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | HENRY SCHREIBER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 140 RIVER ROAD | AddressLine1Txt |
| City | EAST HADDAM | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06423 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,097,902 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FA-CT.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2001 | FormationYr |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Activity Or Mission | FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BOYS AND GIRLS IN GRADES 8-12. 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 85 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $66,955 | PYContributionsGrantsAmt |
| CY Contributions Grants | $119,694 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,716,781 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,955,585 | CYProgramServiceRevenueAmt |
| PY Investment Income | $340 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $32,500 | PYOtherRevenueAmt |
| CY Other Revenue | $22,623 | CYOtherRevenueAmt |
| PY Total Revenue | $6,816,576 | PYTotalRevenueAmt |
| CY Total Revenue | $7,097,902 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,307,549 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,278,064 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,522,814 | PYOtherExpensesAmt |
| CY Other Expenses | $2,519,737 | CYOtherExpensesAmt |
| PY Total Expenses | $6,830,363 | PYTotalExpensesAmt |
| CY Total Expenses | $6,797,801 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$13,787 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $300,101 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,959,123 | TotalAssetsBOYAmt |
| Total Assets EOY | $10,070,067 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $7,666,550 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $12,477,393 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$2,707,427 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$2,407,326 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BOYS AND GIRLS IN GRADES 8-12. 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. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $4,787,793 | ExpenseAmt |
| Revenue | $6,955,585 | RevenueAmt |
| Desc | FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BOYS AND GIRLS IN GRADES 8-12 WHO HAVE BEEN IDENTIFIED WITH NONVERBAL LEARNING DISABILITIES OR DIAGNOSED WITH AUTISM SPECTRUM DISORDERS, INCLUDING ASPERGER'S SYNDROME. INCLUDED IN THIS STUDENT POPULATION IS A SMALL NUMBER OF POSTGRADUATE STUDENTS WHO FIT THE NLD/ASD PROFILE. THE SCHOOL IS DEDICATED TO MEETING THE ACADEMIC AND SOCIAL NEEDS OF THESE STUDENTS IN A SAFE AND STRUCTURED ENVIRONMENT. | Desc |
| Total Program Service Expenses | $4,787,793 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (true) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 32 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 85 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SARAH DONNER | PersonNm |
| Phone | 8608732700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 140 RIVER ROAD | AddressLine1Txt |
| City | EAST HADDAM | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06423 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| HENRY SCHREIBER | ||||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| STEVE KRETER | ||||||||
| VICE CHAIRMA | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARY ELLEN KLINCK | ||||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| ROBERT SHERLOCK | ||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| KEVIN LOCKERBIE | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID YOUNG | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| A FRED WEISSBACH | ||||||||
| HEAD OF SCHO | 40.00 | $226,617 | $0 | $20,088 | Yes (X) | |||
| CYNTHIA POPE | ||||||||
| ADMISSIONS D | 40.00 | $126,348 | $0 | $9,658 | Yes (X) | |||
| MARY MURPHY | ||||||||
| RESIDENTIAL | 40.00 | $124,558 | $0 | $11,477 | Yes (X) | |||
| SEYMORE HAYS | ||||||||
| EDUCATION DI | 40.00 | $121,688 | $0 | $19,975 | Yes (X) | |||
| LELAND BARSOM | ||||||||
| OPERATIONS D | 40.00 | $116,286 | $0 | $10,314 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $715,497 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $71,512 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SAGE DINING SERVICES | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1402 YORK ROAD | AddressLine1Txt |
| City | LUTHERVILLE | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21093 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | DINING SERVICES | ServicesDesc |
| Compensation | $373,828 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $119,694 | AllOtherContributionsAmt |
| Total Contributions | $119,694 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611600 | $6,935,714 | $6,935,714 |
| MISC. SCHOOL INCOME | 900099 | $19,871 | $19,871 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,955,585 | TotalProgramServiceRevenueAmt |
| Fundraising Gross Income | $22,623 | FundraisingGrossIncomeAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $22,623 | TotalRevenueColumnAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,097,902 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,955,585 | RelatedOrExemptFuncIncomeAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $232,520 | TotalAmt |
| Management And General | $232,520 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,708,454 | TotalAmt |
| Program Services | $1,873,705 | ProgramServicesAmt |
| Management And General | $834,749 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,625 | TotalAmt |
| Program Services | $50,769 | ProgramServicesAmt |
| Management And General | $22,856 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,034,326 | TotalAmt |
| Program Services | $660,298 | ProgramServicesAmt |
| Management And General | $374,028 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $229,139 | TotalAmt |
| Program Services | $146,279 | ProgramServicesAmt |
| Management And General | $82,860 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,339 | TotalAmt |
| Management And General | $11,339 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,723 | TotalAmt |
| Management And General | $20,723 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,257 | TotalAmt |
| Management And General | $2,257 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,702 | TotalAmt |
| Management And General | $74,702 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,276 | TotalAmt |
| Management And General | $18,276 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,118 | TotalAmt |
| Program Services | $19,059 | ProgramServicesAmt |
| Management And General | $19,059 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $173,815 | TotalAmt |
| Program Services | $173,815 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,005 | TotalAmt |
| Program Services | $1,005 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $281,289 | TotalAmt |
| Management And General | $281,289 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $306,326 | TotalAmt |
| Program Services | $306,326 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $146,625 | TotalAmt |
| Program Services | $121,506 | ProgramServicesAmt |
| Management And General | $25,119 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| KITCHEN SVCS,FOOD,SUPPLIE | $374,804 | $374,804 |
| DISCOUNTS/SCHOLARSHIPS | $307,031 | $307,031 |
| UTILITIES | $151,271 | $151,271 |
| REAL ESTATE TAXES | $109,611 | $109,611 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $502,545 | TotalAmt |
| Program Services | $492,314 | ProgramServicesAmt |
| Management And General | $10,231 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,797,801 | TotalAmt |
| Program Services | $4,787,793 | ProgramServicesAmt |
| Management And General | $2,010,008 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $556,263 | BOYAmt |
| EOY | $263,318 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $4,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,086 | BOYAmt |
| EOY | $108,750 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,000 | BOYAmt |
| EOY | $13,000 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165 | BOYAmt |
| EOY | $1,038 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $207,263 | BOYAmt |
| EOY | $159,732 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $11,916,782 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,507,633 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,074,362 | BOYAmt |
| EOY | $9,409,149 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $7,572 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,984 | BOYAmt |
| EOY | $103,508 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,959,123 | BOYAmt |
| EOY | $10,070,067 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $125,960 | BOYAmt |
| EOY | $144,543 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,063,935 | BOYAmt |
| EOY | $2,564,310 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,476,655 | BOYAmt |
| EOY | $9,768,540 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,666,550 | BOYAmt |
| EOY | $12,477,393 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$2,748,189 | BOYAmt |
| EOY | -$2,449,476 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,762 | BOYAmt |
| EOY | $42,150 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$2,707,427 | BOYAmt |
| EOY | -$2,407,326 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,959,123 | BOYAmt |
| EOY | $10,070,067 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $300,101 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | false | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $826,885 | OtherCostOrOtherBasisAmt |
| Book Value | $826,885 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,045,879 | OtherCostOrOtherBasisAmt |
| Depreciation | $547,367 | DepreciationAmt |
| Book Value | $5,498,512 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,845,881 | OtherCostOrOtherBasisAmt |
| Depreciation | $933,482 | DepreciationAmt |
| Book Value | $2,912,399 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $577,829 | OtherCostOrOtherBasisAmt |
| Depreciation | $482,963 | DepreciationAmt |
| Book Value | $94,866 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $620,308 | OtherCostOrOtherBasisAmt |
| Depreciation | $543,821 | DepreciationAmt |
| Book Value | $76,487 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,409,149 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| NOTES PAYABLE | $9,727,765 |
| CAPITAL LEASE | $40,775 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $9,768,540 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $7,097,902 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $7,097,902 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $7,097,902 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,797,801 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $6,797,801 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $6,797,801 | TotalExpensesPerForm990Amt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | false | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, LINE 3 | FormAndLineReferenceDesc |
| Explanation | 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 |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | SCHOOL AUCTION | Event1Nm |
| Gross Receipts Event1 | $22,623 | GrossReceiptsEvent1Amt |
| Gross Revenue Event1 | $22,623 | GrossRevenueEvent1Amt |
| Gross Receipts Total | $22,623 | GrossReceiptsTotalAmt |
| Gross Revenue Total Events | $22,623 | GrossRevenueTotalEventsAmt |
| Net Income Summary | $22,623 | NetIncomeSummaryAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Discretionary Spending Acct | Yes (X) | DiscretionarySpendingAcctInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | A FRED WEISSBACH | PersonNm |
| Title | HEAD OF SCHOOL | TitleTxt |
| Base Compensation Filing Org | $226,617 | BaseCompensationFilingOrgAmt |
| Deferred Compensation Flng Org | $5,903 | DeferredCompensationFlngOrgAmt |
| Nontaxable Benefits Filing Org | $14,185 | NontaxableBenefitsFilingOrgAmt |
| Total Compensation Filing Org | $246,705 | TotalCompensationFilingOrgAmt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| FRED WEISSBACH | |||
| KEY EMPLOYEE | $86,100 | RENTAL OF PROPERTY | false |
| JOSH WEISSBACH | |||
| FAMILY MEMBER | $39,850 | EMPLOYMENT | false |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART V | FormAndLineReferenceDesc |
| Explanation | PART IV: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (1) THE HEADMASTER, A. FRED WEISSBACH, WAS COMPENSATED 86,100 FOR THREE HOUSES 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) JOSH WEISSBACH IS A FAMILY MEMBER OF THE HEADMASTER, A. FRED WEISSBACH | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | FRANKLIN ACADEMY IS AN ACCREDITED COLLEGE PREPARATORY BOARDING SCHOOL, SERVING BOYS AND GIRLS IN GRADES 8-12. 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. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 IS REVIEWED BY THE ENTIRE BOARD OF TRUSTEES PRIOR TO THE FILING OF THE RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 12C | REGULAR MEETINGS ARE HELD WHERE THIS ISSUE CAN BE DISCUSSED. |
| FORM 990, PAGE 6, PART VI, LINE 15A | COMPENSATION DECISIONS ARE DETERMINED BY THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 15B | COMPENSATION DECISIONS ARE DETERMINED BY THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |