Franklin Institute

Organization Overview

Franklin Institute is located in Philadelphia, PA. The organization was established in 1928. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Franklin Institute employed 248 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Institute 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 12/2022, Franklin Institute generated $36.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $28.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY.

Describe the Organization's Program Activity:

EDUCATIONAL PROGRAMS, SERVICES & GRANTS: COMPLETING ITS 30TH YEAR IN 2022, THE PARTNERS FOR ACHIEVING CAREERS IN TECHNOLOGY AND SCIENCE (PACTS) PROGRAM IS ONE OF THE REGION'S OLDEST AND MOST COMPREHENSIVE SCIENCE IMMERSION PROGRAMS FOR MIDDLE SCHOOL STUDENTS. PACTS SERVED 46 STUDENTS FROM AREA PUBLIC SCHOOLS DURING THE 2021-2022 SCHOOL YEAR. IN ITS 22ND YEAR, THE INSTITUTE'S STEM SCHOLARS PROGRAM, A CONCENTRATED PROGRAM OF HIGH SCHOOL STUDENTS WHO SHOW HIGH INTEREST IN AND APTITUDE FOR STEM FIELDS, SERVED 79 STUDENTS. PACTS AND STEM SCHOLARS PROVIDE STUDENTS WITH ACCESS TO STEM PROFESSIONALS, AS WELL AS COLLEGE EDUCATIONAL PROGRAMS AND SERVICES, APPLICATION AND FINANCIAL AID COUNSELING, EXPOSURE TO STEM CAREERS, AND ANNUAL ROBOTICS PROGRAMS. THESE TWO PROGRAMS DELIVER UNIQUE STEM PROGRAMMING TO A DIVERSE AUDIENCE.THE FRANKLIN INSTITUTE ALSO DEVELOPS MODEL PROGRAMS IN SCIENCE LEARNING FOR THE K-12 EDUCATION COMMUNITY THAT ARE DELIVERED BOTH INSIDE AND OUTSIDE THE MUSEUM WALLS, INCLUDING SCIENCE IN THE SUMMER, LEAP INTO SCIENCE AND MISSION2MARS WHICH SERVED 67,180 PARTICIPANTS ACROSS 34 STATES.


INTEREST AND DEPRECIATION EXPENSE NOT INCLUDED ABOVE.INTEREST $290,145DEPRECIATION $4,950,678


MUSEUM ADMISSIONS & OPERATIONS: AS THE MOST VISITED MUSEUM IN THE COMMONWEALTH AND A TOP-FIVE TOURIST DESTINATION IN THE CITY OF PHILADELPHIA, THE FRANKLIN INSTITUTE SERVES AS BOTH A PROMINENT EDUCATION AND CULTURAL RESOURCE, AND AS AN ANCHOR OF THE LOCAL ECONOMY. IN 2022, THE INSTITUTE WELCOMED 818,000 VISITORS TO THE MUSEUM, INCLUDING 80,000 FREE AND DISCOUNTED VISITS PROVIDED TO UNDERSERVED SCHOOLS AND FAMILIES THROUGH THE ACCESS PROGRAM. THE FRANKLIN INSTITUTE'S LONGSTANDING REPUTATION HELPS TO ELEVATE THE COMMONWEALTH AND THE CITY OF PHILADELPHIA AS MODELS FOR CULTURAL AND INFORMAL EDUCATION EXCELLENCE. THE INSTITUTE WELCOMES VISITORS OF ALL AGES TO EXPLORE SCIENCE IN INTERACTIVE EXHIBITS AND PUBLIC PROGRAMS. THE INSTITUTE REMAINS FULLY COMMITTED TO PROVIDING AN EXCEPTIONAL EXPERIENCE FOR ITS MANY VISITORS AND INCREASING SERVICE TO ITS AUDIENCE, EXTENDING THE INSTITUTE'S MISSION- TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY-TO CHILDREN AND FAMILIES THROUGHOUT GREATER PHILADELPHIA, REGARDLESS OF MEANS, REMAINS, AS ALWAYS, AT THE HEART OF ITS PRIORITIES. IT DOES SO THROUGH OUTSTANDING EXHIBITS AND MANY EDUCATION AND OUTREACH PROGRAMS.


THE JOURNAL OF THE FRANKLIN INSTITUTE, THE SECOND OLDEST SCHOLARLY JOURNAL IN CONTINUOUS PUBLICATION IN THE UNITED STATES, HAS INCREASED THE VOLUME OF ARTICLES PER ISSUE,, AS WELL AS THE READERSHIP. ALL 197 YEARS OF THE JOURNAL ARE AVAILABLE ONLINE THROUGH LIBRARIES AND RESEARCH INSTITUTIONS.


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Board, Officers & Key Employees

Name (title)Compensation
Larry Dubinski
President & CEO
$777,149
Donald E Morel Jr PHD
Chair
$0
Thomas Lynch
Chair
$0
Joel Bernstein
Trustee
$0
Wade H Berrettini MD PHD
Trustee
$0
Suzanne Boda
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
First Philadelphia Labor Service
Exhibit Installation
$1,232,341
Smith Group Jjr Inc
Architecture
$1,170,506
Ncontext Llc
Advertising
$914,246
Universal Protection Svc Lp
Security Services
$718,978
Abm Industry Groups Llc
Janitorial
$780,553
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$861,795
Related organizations$0
Government grants $2,099,500
All other contributions, gifts, grants, and similar amounts not included above$8,701,260
Noncash contributions included in lines 1a–1f $408,950
Total Revenue from Contributions, Gifts, Grants & Similar$11,662,555
Total Program Service Revenue$21,937,448
Investment income $1,294,456
Tax Exempt Bond Proceeds $0
Royalties $386,256
Net Rental Income $442,998
Net Gain/Loss on Asset Sales $598,766
Net Income from Fundraising Events -$314,020
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $36,043,314

Peer Organizations

Organization NameAssets
Manhattan School Of Music
New York, NY
$72,520,806
Franklin Institute
Philadelphia, PA
$36,043,314
Art Students League Of New York
New York, NY
$12,148,456
Arts For Learning Maryland Inc
Baltimore, MD
$14,579,571
Grounds For Sculpture Inc
Hamilton, NJ
$9,249,114
Global Disciples
Lancaster, PA
$6,947,518
Studio In A School Association
New York, NY
$6,228,421
Dreamyard Project Inc
Bronx, NY
$5,675,436
Harlem School Of The Arts Inc
New York, NY
$5,380,840
Powerhouse Arts Inc
Brooklyn, NY
$10,355,854
The Arts Connection Inc
New York, NY
$5,237,827
American Academy Of Arts And Letters
New York, NY
$2,818,444
Joy Of Giving Something Inc
Syracuse, NY
$401,745
Alliance For Young Artists & Writers Inc
New York, NY
$3,856,688
Baltimore School For The Arts Fdn Inc
Baltimore, MD
$4,221,586
Saul Steinberg Foundation
New York, NY
$290,766
Graham Gund Gallery
Gambier, OH
$4,896,550
Skowhegan School Of Painting And Sculpture Inc
New York, NY
$9,416,151
Young Audiences Of New Jersey
Princeton, NJ
$2,796,872
Victor Association Of Cultural And Performing Arts Inc
Farmington, NY
$3,260,405
Samuel S Fleisher Art Memorial Inc
Philadelphia, PA
$3,287,761
The Metropolitan Center For The Visual Arts Inc
Rockville, MD
$2,983,675
Marquis Studios Ltd
Brooklyn, NY
$3,067,627
Caring Communities For Aids
Wilkes Barre, PA
$2,744,645
New Jersey Center For Visual Arts A New Jersey Nonprofit Corporation
Summit, NJ
$3,937,094

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