Franklin Family Foundation
- Assets
- $7.6k
- Revenue
- $140.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 05/2018
- Data as of
- 12/2023
- EIN
- 82-3747619
Organization Overview
Franklin Family Foundation is located in Virginia Beach, VA. The organization was established in 2018. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Family Foundation 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 12/2023, Franklin Family Foundation generated $140.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $134.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (11.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Franklin Family Foundation has awarded 117 individual grants totaling $1,412,328. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Taylor Franklin President/treasurer/secret | 1 | $0 | |
Stefanie Lynn Franklin Director | 1 | $0 | |
Amy Franklin Harrington Director | 1 | $21,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $140,000 |
| Interest on Savings | $1 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $140,001 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $21,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $150 |
| Total operating and administrative expenses | $23,425 |
| Contributions, gifts, grants paid | $111,325 |
| Total expenses and disbursements | $134,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,552 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,552 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Franklin Family Foundation has awarded $111,325 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NORFOLK COLLEGIATE SCHOOL PURPOSE: TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND | $50,000 |
CHESAPEAKE BAY WINE CLASSIC FOUNDATION PURPOSE: TO PROVIDE FUNDS TO ORGANIZATIONS DEDICATED TO THE SUPPORT AND ADVANCED EDUCATION OF OUR YOUTH; TO PROMOTE VITICULTURE AND OENOLOGY IN HAMPTON ROADS; TO PROMOTE MEDICAL RESEARCH | $15,000 |
ODU PURPOSE: TO PRIVIDE FUNDS TO ODU | $40,000 |
NORFOLK SPCA PURPOSE: TO REDUCE THE NEED IN OUR COMMUNITY FOR THE SHELTERING OF COMPANION ANIMALS AND TO PROVIDE THE HIGHEST QUALITY OF CARE AND ADOPTIONS WHEN SHELTERING ANIMALS IS NECESSARY | $2,700 |
TOBY'S DREAM FOUNDATION PURPOSE: TO PROVIDE CHILDREN LIVING WITH LIFE-THREATENING ILLNESSES OF VIRGINIA'S EASTERN SHORE AND IN THE GREATER HAMPTON ROADS REGION THE OPPORTUNITY AND RESOURCES TO IMAGINE AND EXPERIENCE THEIR MOST FANTASTIC DREAM. | $1,000 |
VIRGINIA BEACH VOLUNTEER RESCUE SQUAD PURPOSE: TO SUPPORT AN INDEPENDENT AND VITAL VIRGINIA BEACH VOLUNTEER RESCUE SYSTEM. | $500 |