Franklin College Of Indiana
- Assets
- $160.8m
- Revenue
- $64.9m
- Investments
- $7.7m
- Employees
- 758
- Location
- Franklin, IN
- Founding
- 04/1937
- Data as of
- 06/2021
- EIN
- 35-0868086
Organization Overview
Franklin College Of Indiana, operating under the name Franklin College, is located in Franklin, IN. The organization was established in 1937. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Franklin College employed 758 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Franklin College generated $64.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $49.9m during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A FRANKLIN COLLEGE EDUCATION FOSTERS INDEPENDENT THINKING, INNOVATION, LEADERSHIP, AND ACTION FOR EVER-CHANGING PROFESSIONS AND A GLOBALLY CONNECTED WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - GRANTS TO STUDENTS TO REDUCE STUDENTS' COST OF ATTENDANCE.
INSTRUCTION - DESIGNING AND DELIVERING THE ACADEMIC CURRICULUM FOR UNDERGRADUATE AND GRADUATE STUDENTS.
STUDENT SERVICES - ACTIVITIES RELATED TO STUDENTS' LIVES OUTSIDE THE CLASSROOM. THIS INCLUDES: STUDENT AFFAIRS, RESIDENCE LIFE, COLLEGE CHAPLAIN, ADMISSIONS, FINANCIAL AID OFFICE, ACADEMIC RECORDS, AND ATHLETICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee (beg Oct 2021) | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dunlap & Company Inc Construction | 6/29/22 | $1,125,986 |
Fox Contractors Corporation Construction | 6/29/22 | $316,089 |
Eat'n Park Hospitality Group Inc Food Service | 6/29/22 | $2,060,669 |
R Adams Roofing Inc Construction | 6/29/22 | $396,000 |
Morgan Stanley Global Banking Operations Investment Consultant | 6/29/22 | $377,831 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $177,278 |
| Related organizations | $0 |
| Government grants | $5,971,508 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,182,452 |
| Noncash contributions included in lines 1a–1f | $162,538 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,331,238 |
| Total Program Service Revenue | $37,968,436 |
| Investment income | $1,740,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $69,747 |
| Net Gain/Loss on Asset Sales | $14,755,258 |
| Net Income from Fundraising Events | -$9,856 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,884,316 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,025,498 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,368,534 |
| Compensation of current officers, directors, key employees. | $862,865 |
| Compensation to disqualified persons | $21,000 |
| Other salaries and wages | $11,309,753 |
| Pension plan accruals and contributions | $1,243,429 |
| Other employee benefits | $1,062,587 |
| Payroll taxes | $895,517 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $238,720 |
| Fees for services: Accounting | $103,301 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,000 |
| Fees for services: Investment Management | $384,460 |
| Fees for services: Other | $3,684,312 |
| Advertising and promotion | $49,403 |
| Office expenses | $462,188 |
| Information technology | $285,814 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,726 |
| Interest | $24,686 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,476,741 |
| Insurance | $391,130 |
| All other expenses | $849,972 |
| Total functional expenses | $49,853,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,812 |
| Savings and temporary cash investments | $3,100,509 |
| Pledges and grants receivable | $1,862,639 |
| Accounts receivable, net | $477,678 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $162,656 |
| Prepaid expenses and deferred charges | $345,598 |
| Net Land, buildings, and equipment | $55,333,188 |
| Investments—publicly traded securities | $90,690,670 |
| Investments—other securities | $7,696,329 |
| Investments—program-related | $793,026 |
| Intangible assets | $0 |
| Other assets | $201,555 |
| Total assets | $160,839,660 |
| Accounts payable and accrued expenses | $2,167,633 |
| Grants payable | $0 |
| Deferred revenue | $1,935,859 |
| Tax-exempt bond liabilities | $17,052,597 |
| Escrow or custodial account liability | $283,467 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,850,000 |
| Other liabilities | $2,115,811 |
| Total liabilities | $26,405,367 |
| Net assets without donor restrictions | $60,988,511 |
| Net assets with donor restrictions | $73,445,782 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $160,839,660 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Franklin College Of Indiana has recieved totaling $121,894.
| Awarding Organization | Amount |
|---|---|
Elba L And Gene Portteus Branigin Foundation Inc Franklin, IN PURPOSE: CAMPAIGN FOR THESCIENCES | $75,000 |
Johnson County Community Foundation Inc Franklin, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $35,300 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $5,800 |
Peanut And Sandy Paws And Claws Charitable Tr Michigan City, IN PURPOSE: SCHOLARSHIP | $5,000 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $500 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $250 |
Endowment Analysis
| Beg. Balance | $103,629,221 |
| Earnings | -$11,152,874 |
| Net Contributions | $219,757 |
| Other Expense | $4,050,780 |
| Grants | $1,607,327 |
| Ending Balance | $87,037,997 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
Trine University Inc Angola, IN | $221,741,150 | $121,889,140 |
Saint Marys College Notre Dame, IN | $523,384,557 | $143,002,673 |
St Norbert College Inc De Pere, WI | $336,117,917 | $103,405,590 |
Taylor University Upland, IN | $297,240,119 | $122,251,609 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Beloit College Beloit, WI | $210,386,491 | $86,166,985 |
Knox College Galesburg, IL | $294,322,347 | $90,404,751 |