Franklin Homestead Inc
- Assets
- $1.7m
- Revenue
- $604.8k
- Investments
- $244.4k
- Employees
- 24
- Location
- Franklin, VT
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 03-0323491
Organization Overview
Franklin Homestead Inc is located in Franklin, VT. The organization was established in 1992. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Franklin Homestead Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Homestead Inc 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 12/2021, Franklin Homestead Inc generated $604.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $628.2k during the year ending 12/2021. While expenses have increased by 12.3% per year over the past 7 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
PROVIDE AND PROMOTE AFFORDABLE, SAFE AND CONVENIENT HOUSING FOR CITIZENS FIFTY-FIVE AND OVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE SENIOR HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Silloway Manager | Officer | 40 | $48,105 |
Jean Richard Treasurer | OfficerTrustee | 12 | $11,737 |
Jay Hartman President | OfficerTrustee | 1 | $0 |
Vera Lynn Gates Vice President | OfficerTrustee | 1 | $0 |
Mary B Larose Secretary | OfficerTrustee | 1 | $0 |
Richard Boudreau Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,401 |
| Total Program Service Revenue | $546,451 |
| Investment income | $5,172 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $604,837 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,842 |
| Compensation of current officers, directors, key employees. | $12,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $215,755 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,950 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,411 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,412 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,683 |
| Insurance | $42,803 |
| All other expenses | $3,432 |
| Total functional expenses | $628,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,403 |
| Savings and temporary cash investments | $259,750 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,855 |
| Net Land, buildings, and equipment | $1,118,524 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $244,432 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,735,964 |
| Accounts payable and accrued expenses | $10,509 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $978,302 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,614 |
| Total liabilities | $1,027,425 |
| Net assets without donor restrictions | $708,539 |
| Net assets with donor restrictions | $0 |
| 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 | $1,735,964 |
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|---|---|---|
Brooksby Village Inc Peabody, MA | $455,308,698 | $77,450,637 |
Linden Ponds Inc Hingham, MA | $366,102,829 | $68,847,923 |
New York Foundation For Senior Citizens Home Attendant Services I New York, NY | $24,976,445 | $43,263,283 |
Active Retirement Community Inc South Setauket, NY | $204,676,750 | $34,139,621 |
Kendal At Hanover I Hanover, NH | $202,821,277 | $31,489,711 |
Israel Senior Citizens Housing Development Fund Corp New York, NY | $56,551,856 | $8,736,330 |
Woodland Pond Inc New Paltz, NY | $75,307,773 | $23,806,053 |
Lasell Village Inc Auburndale, MA | $102,869,314 | $21,782,150 |
Riverwoods Durham Durham, NH | $126,625,985 | $17,724,252 |
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |