Franklin News Foundation
- Assets
- $971.4k
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 06/2009
- Data as of
- 12/2022
- EIN
- 26-4066298
Organization Overview
Franklin News Foundation is located in Chicago, IL. The organization was established in 2009. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin News 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 12/2022, Franklin News Foundation generated $4.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $4.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF FRANKLIN NEWS FOUNDATION IS TO PROMOTE SOCIAL WELFARE AND CIVIL BETTERMENT BY UNDERTAKING PROGRAMS THAT PROMOTE JOURNALISM AND THE EDUCATION OF THE PUBLIC ABOUT CORRUPTION, INCOMPETENCE, FRAUD OR TAXPAYER ABUSE BY ELECTION OFFICIALS AT ALL LEVELS OF GOVERNMENT.
Describe the Organization's Program Activity:
THE CENTER SQUARE NEWSWIRE SERVICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Krug President | OfficerTrustee | 40 | $438,888 |
John Tillman Chairman | OfficerTrustee | 1 | $0 |
Bradley Walton Secretary/treasurer | OfficerTrustee | 1 | $0 |
Eric Sucharski Director | Trustee | 1 | $0 |
Charles Mitchell Director | Trustee | 1 | $0 |
Daniel Mccaleb Executive Editor | Officer | 40 | $170,235 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bearing Tree Inc Administrative Support | 12/30/21 | $251,113 |
Iron Light Inc Marketing Services | 12/30/21 | $150,000 |
Newsinator Llc Marketing Services | 12/30/21 | $122,034 |
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 | $4,715,019 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,715,019 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $4,832,019 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,311 |
| Fees for services: Accounting | $22,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $561,550 |
| Advertising and promotion | $106,598 |
| Office expenses | $86,468 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $55,416 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,529 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,125 |
| All other expenses | $53,535 |
| Total functional expenses | $4,662,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,468 |
| Savings and temporary cash investments | $10 |
| Pledges and grants receivable | $424,252 |
| 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 | $15,979 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $332,700 |
| Total assets | $971,409 |
| Accounts payable and accrued expenses | $435,761 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $435,761 |
| Net assets without donor restrictions | $535,648 |
| 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 | $971,409 |