Franklin Road Academy Inc
- Assets
- $58.1m
- Revenue
- $31.0m
- Investments
- $0.0
- Employees
- 306
- Location
- Nashville, TN
- Founding
- 05/1983
- Data as of
- 06/2021
- EIN
- 62-1138075
Organization Overview
Franklin Road Academy Inc is located in Nashville, TN. The organization was established in 1983. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Franklin Road Academy Inc employed 306 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Road Academy 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 06/2021, Franklin Road Academy Inc generated $31.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $24.1m during the year ending 06/2021. While expenses have increased by 5.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A CHALLENGING EDUCATIONAL EXPERIENCE IN AN INCLUSIVE CHRISTIAN COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL & STUDENT ACTIVITIES - EDUCATION FOR GRADES K-12 FOR APPROXIMATELY 900 STUDENTS, INSTRUCTION FOR ATHLETICS, BAND, DAY CARE AND DAY CAMP, AND AUXILIARY ACTIVITIES (CAFETERIA, CONCESSIONS FOR ATHLETIC EVENTS, ANNUAL, BOOKSTORE AND SPECIAL STUDENT ACTIVITIES).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Sean Casey Head Of School | Officer | 60 | $432,082 |
Mr Caleb P Stabler Head Of Upper School | 40 | $154,544 | |
Mrs Laura Turner Director Of Finance And Operations | Officer | 50 | $152,607 |
Mr Rick West Head Of Lower School | 40 | $142,358 | |
Mr Kristin Palmerton Director Of Athletics | 40 | $137,089 | |
Mr Ryan Harris Head Of Middle School | 40 | $130,445 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Food Service | 6/29/21 | $928,700 |
4m Building Solutions Inc Janitorial | 6/29/21 | $407,691 |
D F Chase Inc Construction | 6/29/21 | $3,007,756 |
Advent Contractor | 6/29/21 | $256,105 |
Maynard Select Llc Plumbing Contractor | 6/29/21 | $249,392 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $187,711 |
| Related organizations | $0 |
| Government grants | $2,063,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,627,972 |
| Noncash contributions included in lines 1a–1f | $634,096 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,878,783 |
| Total Program Service Revenue | $22,787,925 |
| Investment income | $94,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,300 |
| Net Gain/Loss on Asset Sales | $92,715 |
| Net Income from Fundraising Events | $59,603 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,046,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,937,459 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $596,061 |
| Compensation of current officers, directors, key employees. | $289,354 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,471,651 |
| Pension plan accruals and contributions | $449,112 |
| Other employee benefits | $1,815,197 |
| Payroll taxes | $736,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,308 |
| Fees for services: Accounting | $32,527 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $63,387 |
| Fees for services: Other | $641,587 |
| Advertising and promotion | $93,426 |
| Office expenses | $887,663 |
| Information technology | $367,681 |
| Royalties | $0 |
| Occupancy | $1,060,375 |
| Travel | $41,937 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,540 |
| Interest | $546,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,478,194 |
| Insurance | $218,239 |
| All other expenses | $518,480 |
| Total functional expenses | $24,085,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,017 |
| Savings and temporary cash investments | $8,022,076 |
| Pledges and grants receivable | $106,300 |
| Accounts receivable, net | $624,117 |
| Loans from Officers, Directors, or Controlling Persons | $30,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $42,440,083 |
| Investments—publicly traded securities | $6,632,103 |
| Investments—other securities | $0 |
| Investments—program-related | $127,650 |
| Intangible assets | $0 |
| Other assets | $125,432 |
| Total assets | $58,128,778 |
| Accounts payable and accrued expenses | $1,415,928 |
| Grants payable | $0 |
| Deferred revenue | $3,804,915 |
| Tax-exempt bond liabilities | $11,469,497 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $547,913 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $493,849 |
| Total liabilities | $17,732,102 |
| Net assets without donor restrictions | $33,087,860 |
| Net assets with donor restrictions | $7,308,816 |
| 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 | $58,128,778 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that Franklin Road Academy Inc has recieved totaling $2,247,122.
| Awarding Organization | Amount |
|---|---|
Cal Turner Family Foundation Inc Nashville, TN PURPOSE: CAPITAL CAMPAIGN CHALLENGE GRANT | $1,000,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $321,500 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $225,000 |
Mick Foundation Brentwood, TN PURPOSE: CHARITABLE | $106,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $100,000 |
Cal Turner Family Foundation Inc Nashville, TN PURPOSE: 2021 FRA TURNER FELLOWS STIPENDS AND 2020 FRA TURNER FELLOWS SCHOLARSHIPS | $88,800 |
Endowment Analysis
| Beg. Balance | $4,961,258 |
| Earnings | $1,342,126 |
| Admin Expense | $649,598 |
| Net Contributions | $978,317 |
| Ending Balance | $6,632,103 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Jackson Academy Inc Jackson, MS | $38,072,523 | $26,664,882 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |