New College Franklin Inc
- Assets
- $211.7k
- Revenue
- $640.0k
- Investments
- $0.0
- Employees
- 18
- Location
- Franklin, TN
- Founding
- 04/2009
- Data as of
- 06/2023
- EIN
- 26-3586792
Organization Overview
New College Franklin Inc is located in Franklin, TN. The organization was established in 2009. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2023, New College Franklin Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New College Franklin 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 06/2023, New College Franklin Inc generated $640.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $578.1k during the year ending 06/2023. While expenses have increased by 10.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
UNDER THE LORDSHIP OF CHRIST, NEW COLLEGE FRANKLIN DISCIPLES STUDENTS THROUGH THE LIBERAL ARTS FOR WISDOM AND MISSIONAL LIVING.
Describe the Organization's Program Activity:
THE ORGANIZATION OFFERS BIBLICAL POSTSECONDARY EDUCATION TO STUDENTS IN A FOUR YEAR BACHELOR'S OF ARTS DEGREE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Crampton Trustee | Trustee | 0 | $0 |
Gregory Wilbur President | OfficerTrustee | 30 | $47,800 |
Andy Patton Chairman | OfficerTrustee | 0 | $0 |
Brian Driskell Trustee | Trustee | 0 | $0 |
Dave Raymond Secretary | OfficerTrustee | 0 | $0 |
Kimbell Kornu Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $217,639 |
| Noncash contributions included in lines 1a–1f | $33,788 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,639 |
| Total Program Service Revenue | $422,037 |
| Investment income | $275 |
| 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 | $639,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $87,066 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $52,031 |
| Compensation of current officers, directors, key employees. | $36,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $276,392 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,124 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,256 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,225 |
| Advertising and promotion | $11,859 |
| Office expenses | $10,709 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $673 |
| Travel | $9,292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,219 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,205 |
| Insurance | $3,282 |
| All other expenses | $2,370 |
| Total functional expenses | $578,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,146 |
| Savings and temporary cash investments | $100,886 |
| 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 | $1,000 |
| Net Land, buildings, and equipment | $4,372 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,320 |
| Total assets | $211,724 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $8,812 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,812 |
| Net assets without donor restrictions | $78,085 |
| Net assets with donor restrictions | $124,827 |
| 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 | $211,724 |