Overview
What is The Franklin Academy Inc?
The Franklin Academy Inc, based in Wake Forest, North Carolina, is a charter school that provides quality education for students in grades K-12. Established in accordance with North Carolina's Charter Schools Act, this nonprofit organization operates with a mission to engage in charitable and educational purposes, aiming to deliver quality public education. The Franklin Academy Inc offers instruction services and utilizes a facility to accommodate students' learning needs. In addition to educational provisions, they provide nutritional food to students, ensuring a well-rounded learning experience. The organization employs a team of 229 individuals dedicated to fulfilling its purpose.
Official website here: www.franklinacademy.org
What are the reviews and ratings of this charity?
88% rating from Charity Navigator, earning a Three-Star out of Four Star rating. This score reflects strong accountability and financial practices, with a complete focus on these aspects in the overall rating. The organization demonstrates a solid commitment to ethical governance and effective financial management.
The Franklin Academy Inc shows strengths in its independent board structure, with 100% independent members, and a high program expense ratio of 83.23%, indicating that a significant portion of funds is directed toward its programs. Additionally, it has passed all financial oversight components, including having an audit committee and transparency in its financial statements.
However, there are limitations noted in the absence of a whistleblower policy and document retention and destruction policy, which could be areas for improvement. While the organization excels in several governance metrics, addressing these missing policies would enhance its accountability framework further.
This AI summary has been generated from information found on Charity Navigator.
Is The Franklin Academy Inc legitimate?
The Franklin Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Franklin Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,242,711
For more financial information, click here
Official website here: www.franklinacademy.org
What is the mission statement of The Franklin Academy Inc?
The Franklin Academy Inc is dedicated to delivering quality education to students in the K-12 grade level. This charter school, established under North Carolina's General Statutes, focuses on charitable and educational purposes. Its primary goal is to provide public education of the highest standard. The organization is committed to offering instructional services and utilizing facilities for educational purposes, as mandated by the North Carolina Charter Schools Act. Additionally, The Franklin Academy provides nutritional food to its students, ensuring they receive proper nourishment for their learning needs.
Official website here: www.franklinacademy.org
Who is the CEO of The Franklin Academy Inc?
William H Francis Jr is the Chairman of The Franklin Academy Inc.
Official website here: www.franklinacademy.org
What is the revenue of The Franklin Academy Inc?
The Franklin Academy Inc's revenue in 2022 was $17,154,874.
Official website here: www.franklinacademy.org
Who are the executives of The Franklin Academy Inc and what are their salaries?
The average compensation at The Franklin Academy Inc during 2022 was $40,361. There are 229 employees at The Franklin Academy Inc.
Here are 6 key members and their salaries:
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- Compensation: $138,152
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Official website here: www.franklinacademy.org
Where can I find the form 990 for The Franklin Academy Inc?
The Franklin Academy Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.franklinacademy.org
Learn more at the official website: www.franklinacademy.org
Mission Statement of The Franklin Academy Inc
The Franklin Academy Inc, a non-profit organization, is dedicated to delivering quality education to students in grades K-12. Established under the General Statutes of North Carolina, this charter school is committed to charitable and educational purposes. In simple terms, The Franklin Academy endeavors to provide top-tier public education to its students.
The corporation's primary goal centers around the provision of quality education, and it accomplishes this as a charter school in North Carolina. The school offers instruction services and utilizes facilities for educational purposes, all in accordance with North Carolina charter school regulations. Furthermore, The Franklin Academy takes care of its students' nutritional needs, providing them with food essential for their growth and development.
The Franklin Academy Inc's mission is twofold. First, it strives to create an environment that fosters learning and academic success for its students. By offering a rigorous and comprehensive curriculum, the school ensures that its students gain the necessary skills and knowledge required to thrive in their future endeavors. Second, The Franklin Academy is deeply invested in the overall well-being of its students. It recognizes that education extends beyond the classroom and encompasses various aspects of a child's development. Consequently, it provides a supportive and nurturing environment that encourages students to explore their interests, build strong relationships, and develop the confidence needed to face the challenges of the world. Overall, The Franklin Academy Inc is a beacon of hope and opportunity for students in need of a quality education, empowering them to reach their full potential and pave the way for a brighter future.
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Impact
October, 2024
The Franklin Academy Inc significantly impacts the educational landscape for students in grades K-12 in Wake Forest, North Carolina. By operating a charter school, it provides a quality education tailored to meet the diverse needs of its students, with a focus on fostering academic achievement and personal growth.
In addition to comprehensive instructional services, The Franklin Academy Inc emphasizes the importance of well-being by offering nutritious meals to students, ensuring they have the necessary resources to thrive both in and out of the classroom. This holistic approach not only enhances students' educational experiences but also promotes a healthier school environment. The institution stands as a vital resource for families seeking quality public education in the community, thereby contributing to the overall development and success of its students.
This information is meant to be a general summary of The Franklin Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $122,151
- Program Service Revenue: $279,645
- Gross Receipts: $17,154,874
Assets and Liabilities:
- Total Assets: $23,533,490
- Total Liabilities: $204,481
- Net Assets: $23,329,009
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCHOOL ACTIVITIES
Revenue
$279,645
Organization Details
Founding Year
1997
Phone
(919) 554-4911Principal Officer
William H Francis Jr
Main Address
604 FRANKLIN STREET, WAKE FOREST, NC, 27587
Website
www.franklinacademy.orgNTEE Category
Code: B24 - Education
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