Franklin University
- Assets
- $133.5m
- Revenue
- $87.7m
- Investments
- $22.9m
- Employees
- 1,228
- Location
- Columbus, OH
- Founding
- 06/1966
- Data as of
- 07/2023
- EIN
- 31-0707369
Organization Overview
Franklin University is located in Columbus, OH. The organization was established in 1966. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 07/2023, Franklin University employed 1,228 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin University 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 07/2023, Franklin University generated $87.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $88.5m during the year ending 07/2023. While expenses have increased by 0.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRANKLIN UNIVERSITY IS A STUDENT-CENTERED, NONPROFIT, INDEPENDENT INSTITUTION PROVIDING HIGH QUALITY, RELEVANT EDUCATION TO ENABLE THE BROADEST POSSIBLE COMMUNITY OF LEARNERS TO ACHIEVE THEIR GOALS AND ENRICH THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRANKLIN UNIVERSITY SERVED 12,138 UNIQUE STUDENTS IN THE 2022-23 ACADEMIC YEAR, GRANTING 85 ASSOCIATE'S DEGREES, 1,569 BACHELOR'S DEGREES, 647 MASTER'S DEGREES, 42 DOCTORAL DEGREES, AND 19 GRADUATE CERTIFICATES. FRANKLIN HAS A TOTAL OF 80 ACADEMIC PROGRAM OFFERINGS (47 UNDERGRADUATE, 1 UNDERGRADUATE CERTIFICATES, AND 18 GRADUATE, 5 DOCTORATE AND 9 GRADUATE CERTIFICATES). GLOBALLY, FRANKLIN OFFERS ITS MBA AND UNDERGRADUATE PROGRAMS TO STUDENTS THROUGH INTERNATIONAL PARTNERSHIPS.
THE FRANKLIN UNIVERSITY MISSION INCLUDES PROVIDING HIGH QUALITY, RELEVANT EDUCATION TO ENABLE THE BROADEST POSSIBLE COMMUNITY OF LEARNERS TO ACHIEVE THEIR GOALS AND ENRICH THE WORLD. TO FURTHER THIS GOAL, FRANKLIN OFFERS PROGRAM DESIGN AND DEVELOPMENT SERVICES TO HIGHER EDUCATION INSTITUTIONS SEEKING TO EXPAND AND IMPROVE THE QUALITY OF THEIR OWN PROGRAM OFFERINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr David R Decker President | Officer | 55 | $988,171 |
Dr Christopher Washington Provost And Svp-Academic Affairs | Officer | 50 | $331,999 |
Dr Godfrey Mendes SVP Global Programs & Strategic Initiatives | Officer | 40 | $326,609 |
Rick Sunderman SVP And Chief Information Officer | Officer | 40 | $311,666 |
Christi Farley-Cabungcal Chief Of Staff & SVP Administration | Officer | 40 | $308,637 |
Dr Marv Briskey Treasurer/svp-Chief Financial Officer | Officer | 40 | $294,519 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Inc Advertising | 7/30/23 | $4,473,011 |
Mbs Direct Llc Digital Textbooks And Course Materials | 7/30/23 | $1,682,004 |
Advantage Media & Digital Llc Advertising | 7/30/23 | $1,517,940 |
Leeds Management Services Fze Student Services | 7/30/23 | $1,111,501 |
Goodway Group Digital Marketing | 7/30/23 | $296,204 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,043,857 |
| All other contributions, gifts, grants, and similar amounts not included above | $844,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,888,058 |
| Total Program Service Revenue | $80,792,308 |
| Investment income | $2,394,238 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$18,029 |
| Net Gain/Loss on Asset Sales | $2,372,580 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,653,191 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,175,263 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,373,545 |
| Compensation of current officers, directors, key employees. | $1,219,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,204,467 |
| Pension plan accruals and contributions | $2,681,884 |
| Other employee benefits | $4,478,488 |
| Payroll taxes | $2,761,309 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $333,533 |
| Fees for services: Accounting | $122,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $514,116 |
| Fees for services: Other | $3,231,512 |
| Advertising and promotion | $6,995,736 |
| Office expenses | $2,395,999 |
| Information technology | $1,775,688 |
| Royalties | $0 |
| Occupancy | $1,849,698 |
| Travel | $268,267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $131,884 |
| Interest | $467,049 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,854,795 |
| Insurance | $204,709 |
| All other expenses | $369,367 |
| Total functional expenses | $88,484,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,396,868 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $59,728 |
| Accounts receivable, net | $5,319,575 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $973,614 |
| Net Land, buildings, and equipment | $20,276,233 |
| Investments—publicly traded securities | $78,226,963 |
| Investments—other securities | $22,920,869 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $297,187 |
| Total assets | $133,471,037 |
| Accounts payable and accrued expenses | $9,189,290 |
| Grants payable | $0 |
| Deferred revenue | $2,041,851 |
| 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 | $9,890,450 |
| Unsecured mortgages and notes payable | $4,000,000 |
| Other liabilities | $0 |
| Total liabilities | $25,121,591 |
| Net assets without donor restrictions | $98,584,568 |
| Net assets with donor restrictions | $9,764,878 |
| 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 | $133,471,037 |