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 12/2021, Franklin Institute employed 165 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 12/2021, Franklin Institute generated $32.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $25.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
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 29TH YEAR IN 2021, 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 DIVERSE URBAN HIGH SCHOOL STUDENTS. PACTS SERVED 59 STUDENTS FROM AREA PUBLIC SCHOOLS DURING THE 2020-2021 SCHOOL YEAR. IN ITS 21ST 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 73 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. AS A RESULT OF COVID-19, THE FRANKLIN INSTITUTE CONTINUED ITS VIRTUAL PROGRAMMING. THE FRANKLIN NIGHT SKIES @HOME DIGITAL SERIES GENERATED MORE THAN 167,000 VIEWS. 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 AND LEAP INTO SCIENCE WHICH SERVED 26,891 PARTICIPANTS ACROSS 33 STATES.
MUSEUM ADMISSIONS & OPERATIONS: AS THE MOST-VISITED MUSEUM IN THE COMMONWEALTH AND A TOP-FIVE TOURIST DESTINATION IN THE CITY OF PHILADELPHIA, THE FRANKLIN INSITITUTE SERVES AS BOTH A PROMINENT EDUCATION AND CULTURAL RESOURCE, AND AS AN ANCHOR OF THE LOCAL ECONOMY. IN 2021, THE INSTITUTE WELCOMED 248,000 VISITORS TO THE MUSEUM, INCLUDING 16,317 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 EDUCATIONAL 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 THIS 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 196 YEARS OF THE JOURNAL ARE AVAILABLE ONLINE THROUGH LIBRARIES AND RESEARCH INSTITUTIONS.THE FRANKLIN INSTITUTE, IN PARTNERSHIP WITH THE PHILADELPHIA DEPARTMENT OF PUBLIC HEALTH, RECEIVED AN ASTC/IMLS COMMUNITIES FOR IMMUNITY GRANT TO CREATE SIMPLE, ACCURATE, AND EASY TO UNDERSTAND PRINT MATERIALS IN SEVEN LANGUAGES FOR OUTREACH TO UNDER VACCINATED COMMUNITIES.
INTEREST AND DEPRECIATION EXPENSE NOT INCLUDED ABOVE.INTEREST $372,440DEPRECIATION $4,266,909
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Larry Dubinski President & CEO | OfficerTrustee | 37.5 | $801,673 |
K Siobhan Keefe SVP & Chief Financial Offi | Officer | 37.5 | $298,927 |
Darryl Williams SVP Of Science & Education | Officer | 37.5 | $293,637 |
Richard Rabena SVP Of Operations | Officer | 37.5 | $281,505 |
Rebekah Sassi VP External Affairs | Officer | 37.5 | $266,378 |
Abigail Bysshe VP Of Experiences And Bus. | Officer | 37.5 | $244,766 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
B Morrow Productions Llc Event Production | 12/30/21 | $735,613 |
Mayo Seitz Media Inc Media Consultation & Placement | 12/30/21 | $609,647 |
Universal Protection Svc Lp Security Services | 12/30/21 | $562,391 |
Abm Industry Groups Llc Janitorial | 12/30/21 | $534,574 |
Mae Daniller & Company Fundraising | 12/30/21 | $232,348 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $518,635 |
Related organizations | $0 |
Government grants | $12,483,749 |
All other contributions, gifts, grants, and similar amounts not included above | $8,224,422 |
Noncash contributions included in lines 1a–1f | $1,815,472 |
Total Revenue from Contributions, Gifts, Grants & Similar | $21,226,806 |
Total Program Service Revenue | $7,323,519 |
Investment income | $1,229,377 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $330,394 |
Net Rental Income | $247,657 |
Net Gain/Loss on Asset Sales | $1,654,299 |
Net Income from Fundraising Events | $11,472 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $32,040,912 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
Grants and other assistance to domestic individuals. | $55,000 |
Grants and other assistance to Foreign Orgs/Individuals | $255,000 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $3,039,097 |
Compensation of current officers, directors, key employees. | $171,862 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,579,706 |
Pension plan accruals and contributions | $231,686 |
Other employee benefits | $2,022,370 |
Payroll taxes | $384,680 |
Fees for services: Management | $0 |
Fees for services: Legal | $185,982 |
Fees for services: Accounting | $62,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $23,313 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,549,348 |
Advertising and promotion | $955,860 |
Office expenses | $282,297 |
Information technology | $318,736 |
Royalties | $10,000 |
Occupancy | $2,005,031 |
Travel | $58,669 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $21,835 |
Interest | $372,440 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,266,909 |
Insurance | $546,141 |
All other expenses | $1,481,772 |
Total functional expenses | $24,980,303 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $18,165,565 |
Savings and temporary cash investments | $4,750,620 |
Pledges and grants receivable | $10,368,765 |
Accounts receivable, net | $2,907,235 |
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 | $2,886,915 |
Net Land, buildings, and equipment | $65,888,029 |
Investments—publicly traded securities | $68,774,864 |
Investments—other securities | $17,118,270 |
Investments—program-related | $30,544 |
Intangible assets | $0 |
Other assets | $311,979 |
Total assets | $191,202,786 |
Accounts payable and accrued expenses | $3,862,978 |
Grants payable | $0 |
Deferred revenue | $6,199,672 |
Tax-exempt bond liabilities | $7,349,763 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $3,000,000 |
Other liabilities | $0 |
Total liabilities | $20,412,413 |
Net assets without donor restrictions | $76,514,189 |
Net assets with donor restrictions | $94,276,184 |
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 | $191,202,786 |
Over the last fiscal year, we have identified 4 grants that Franklin Institute has recieved totaling $11,773.
Awarding Organization | Amount |
---|---|
Barbara Brodsky Foundation Haverford, PA PURPOSE: TO FURTHER PUBLIC SERVICE | $5,000 |
Henry Leffmann 45270 Nect Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $3,523 |
Sickler Foundation Phoenixville, PA PURPOSE: GENERAL | $3,000 |
Henry J Fox Fund Vienna, VA PURPOSE: CHARITY | $250 |
Beg. Balance | $62,751,545 |
Earnings | $7,932,333 |
Net Contributions | $94,414 |
Other Expense | $2,003,427 |
Ending Balance | $68,774,865 |
Organization Name | Assets | Revenue |
---|---|---|
Franklin Institute Philadelphia, PA | $191,202,786 | $32,040,912 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Arts For Learning Maryland Inc Baltimore, MD | $6,641,105 | $9,137,823 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Global Disciples Lancaster, PA | $4,481,434 | $6,431,035 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Grounds For Sculpture Inc Hamilton, NJ | $36,793,406 | $11,597,062 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |