Nonprofit · EIN 56-2085431
FRANKLIN ACADEMY INC
Tax-exempt · RUTHERFORDTON, NC 28139
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $20,039,730 | $17,480,805 | $2,558,925 | $30,069,220 | $193,826 | $29,875,394 |
| June 30, 2024 | 990 | $18,121,235 | $15,605,186 | $2,516,049 | $27,481,738 | $228,579 | $27,253,159 |
| June 30, 2023 | 990 | $16,397,889 | $14,989,787 | $1,408,102 | $25,015,003 | $277,892 | $24,737,111 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $17,878,363
- of which government grants
- $17,878,363
- Program service revenue
- $322,776
- Investment income
- $675,078
- Other revenue
- $1,163,513
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $10,789,659
- Salaries, compensation and benefits (total)
- $13,073,733
- Professional fundraising fees
- $0
- Legal fees
- $10,816
- Accounting fees
- $27,648
- Travel
- $3,182
- Depreciation
- $870,154
- Program services (functional)
- $14,525,673
- Management and general (functional)
- $2,940,209
- Fundraising (functional)
- $14,923
Balance sheet and other
- Total assets, start of year
- $27,481,738
- Total assets, end of year
- $30,069,220
- Total liabilities, end of year
- $193,826
- Net assets, end of year
- $29,875,394
- Land, buildings and equipment
- $13,990,028
- Publicly traded securities
- $11,248,444
- Gross receipts
- $20,039,730
- Employees
- 243
- Volunteers
- 0
- Year formed
- 1997
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENISE KENT | HEAD ADMINISTRATOR Highest-paid employee | 45 | $179,594 |
| ROBERT L LUDDY | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| RICK EDDINS | DIRECTOR Trustee or director | 1 | $0 |
| ALPHONSA C MERRITT | DIRECTOR Trustee or director | 1 | $0 |
| JUDY NUNNENKAMP | DIRECTOR Trustee or director | 1 | $0 |
| BILL FRANCIS | TREASURER Trustee or director, Officer | 1 | $0 |
| BRANDON HAFNER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENISE KENT | HEAD ADMINISTRATOR Highest-paid employee | 45 | $164,638 |
| ROBERT L LUDDY | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| RICK EDDINS | DIRECTOR Trustee or director | 1 | $0 |
| ALPHONSA C MERRITT | DIRECTOR Trustee or director | 1 | $0 |
| JUDY NUNNENKAMP | DIRECTOR Trustee or director | 1 | $0 |
| BILL FRANCIS | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENISE KENT | HEAD ADMINISTRATOR Highest-paid employee | 45 | $152,129 |
| ROBERT L LUDDY | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| RICK EDDINS | DIRECTOR Trustee or director | 1 | $0 |
| ALPHONSA C MERRITT | DIRECTOR Trustee or director | 1 | $0 |
| JUDY NUNNENKAMP | DIRECTOR Trustee or director | 1 | $0 |
| BILL FRANCIS | TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 86, RUTHERFORDTON, NC 28139-0086
- In care of
- % WILLIAM H FRANCIS JR
- Principal officer (990 for 2024)
- WILLIAM H FRANCIS JR, 604 S FRANKLIN STREET, WAKE FOREST, NC 27587
- Signed the 990
- WILLIAM H FRANCIS JR, TREASURER
- Phone
- (919) 554-4911
- Website
- WWW.FRANKLINACADEMY.ORG
- Return prepared by
- BATCHELOR TILLERY & ROBERTS LLP
Mission
THE CORPORATION'S PRIMARY EXEMPT PURPOSE IS TO ENGAGE IN THE CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING QUALITY PUBLIC EDUCATION AS A CHARTER SCHOOL CREATED PURSUANT TO THE GENERAL STATUTES OF NORTH CAROLINA ESTABLISHING CHARTER SCHOOLS.
Program accomplishments
- OPERATED CHARTER SCHOOL IN WAKE FOREST NORTH CAROLINA - PROVIDED INSTRUCTION SERVICES AND FACILITY FOR EDUCATIONAL PURPOSES AS PROVIDED BY NORTH CAROLINA CHARTER SCHOOLS, AND PROVIDED NUTRITIONAL FOOD TO STUDENTS.Expenses $14,525,673 · revenue $1,486,289
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2085431
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Hospital or medical research organization
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1999
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B24)
- Assets (IRS master file)
- $30,069,220
- Income (IRS master file)
- $20,039,730
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $20,039,730 | $17,480,805 | $30,069,220 | XML |
| 990 | June 2024 | $18,121,235 | $15,605,186 | $27,481,738 | XML |
| 990 | June 2023 | $16,397,889 | $14,989,787 | $25,015,003 | XML |
| 990 | June 2022 | $17,154,874 | $14,578,907 | $23,533,490 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-2085431).
Questions about FRANKLIN ACADEMY INC
- What is the EIN of FRANKLIN ACADEMY INC?
- The employer identification number (EIN) of FRANKLIN ACADEMY INC is 56-2085431.
- Is FRANKLIN ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to FRANKLIN ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FRANKLIN ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FRANKLIN ACADEMY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRANKLIN ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FRANKLIN ACADEMY INC?
- The 990 for the year ended June 30, 2025 names WILLIAM H FRANCIS JR.
- Who are the officers and directors of FRANKLIN ACADEMY INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 1 received compensation from the organization, the highest $179,594 (DENISE KENT, HEAD ADMINISTRATOR).
- How much revenue does FRANKLIN ACADEMY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $20,039,730, expenses of $17,480,805 and total assets of $30,069,220 at year end.
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All nonprofits in RUTHERFORDTON · North Carolina · Education