Franklin School Of Innovation Inc
- Assets
- $29.1m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 142
- Location
- Asheville, NC
- Founding
- 04/2014
- Data as of
- 06/2022
- EIN
- 46-1548530
Organization Overview
Franklin School Of Innovation Inc is located in Asheville, NC. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Franklin School Of Innovation Inc employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin School Of Innovation 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 06/2022, Franklin School Of Innovation Inc generated $8.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $6.8m during the year ending 06/2022. While expenses have increased by 14.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A CHARTER SCHOOL IN ASHEVILLE, NORTH CAROLINA, SERVING APPROXIMATELY 667 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Blalock Secretary | OfficerTrustee | 0.5 | $0 |
Alisa Hove Co-Chair | OfficerTrustee | 1.5 | $0 |
William Hansen Treasurer | OfficerTrustee | 1.5 | $0 |
Al Glicksberg Co-Chair | OfficerTrustee | 1.5 | $0 |
Elizabeth Russo Member | Trustee | 0.75 | $0 |
Jaime Grob-Grinnell Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $505,426 |
| All other contributions, gifts, grants, and similar amounts not included above | $111,518 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $616,944 |
| Total Program Service Revenue | $7,716,510 |
| Investment income | $7,337 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $472,000 |
| 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 | $8,812,791 |
| 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 | $4,281,960 |
| Pension plan accruals and contributions | $112,763 |
| Other employee benefits | $523,481 |
| Payroll taxes | $328,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,500 |
| Fees for services: Accounting | $7,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,805 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $149,263 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $147,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $360,379 |
| Insurance | $58,329 |
| All other expenses | $0 |
| Total functional expenses | $6,787,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,877,303 |
| Savings and temporary cash investments | $15,576,922 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,026,412 |
| 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 | $9,499 |
| Net Land, buildings, and equipment | $10,631,384 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,121,520 |
| Accounts payable and accrued expenses | $49,102 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $23,990,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $226,243 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,265,345 |
| Net assets without donor restrictions | $4,856,175 |
| 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 | $29,121,520 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Franklin School Of Innovation Inc has recieved totaling $399,383.
| Awarding Organization | Amount |
|---|---|
Glass Family Foundation Inc Asheville, NC PURPOSE: CHARITABLE | $346,462 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $51,713 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,208 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |