Form 990 for tax year 2024
Filed by FRANKLIN SCHOOL OF INNOVATION INC.
Totals
- Total revenue
- $10,520,926
- Total expenses
- $10,784,365
- Contributions and grants received
- $507,692
- Grants paid
- $0
- Program service revenue
- $8,754,224
- Investment income
- $0
- Other revenue
- $1,259,010
- Total assets, end of year
- $29,227,440
- Total liabilities, end of year
- $24,454,662
- Net assets or fund balances, end of year
- $4,772,778
- Program services expenses (Part IX)
- $6,512,759
- Management and general expenses
- $2,348,278
- Fundraising expenses
- $1,923,328
- Program service expenses (Part III)
- $6,512,759
Program services were 60.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$419,103
-
1f · All other contributions, gifts and grants
$88,589
-
2a · Program service revenue: State of NC
total $5,581,889
-
2b · Program service revenue: LEA Funding
total $2,656,878
-
2c · Program service revenue: Before and after school
total $35,394
-
2d · Program service revenue: Other Program Revenue
total $410,380
-
2e · Program service revenue: School Lunch
total $69,683
-
6a · Gross rents
real property $1,259,010
-
6c · Rental income or loss
real property $1,259,010
-
6d · Net rental income or loss
total $1,259,010
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $5,038,000 · program services $4,631,665 · management and general $406,335
-
8 · Pension plan contributions
total $142,751 · program services $135,897 · management and general $6,854
-
9 · Other employee benefits
total $660,506 · program services $599,663 · management and general $60,843
-
10 · Payroll taxes
total $393,686 · program services $363,287 · management and general $30,399
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $21,750 · management and general $21,750
-
11c · Fees: accounting
total $22,677 · management and general $22,677
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $38,928 · management and general $38,928
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $1,414,679 · management and general $1,414,679
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $1,199,500 · fundraising $1,199,500
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $877,962 · program services $131,785 · management and general $32,946 · fundraising $713,231
-
23 · Insurance
total $69,576 · management and general $69,576
-
24a · Other expenses: Contracted Student Services
total $357,353 · program services $266,265 · management and general $91,088
-
24b · Other expenses: Supplies, Textbooks, Materials, etc.
total $444,644 · program services $384,197 · management and general $49,850 · fundraising $10,597
-
24c · Other expenses: Repairs/Maintenance and Transportation
total $102,353 · management and general $102,353
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,421,009 · end of year $3,975,618
-
2 · Savings and temporary cash investments
beginning of year $2,619,245 · end of year $2,775,669
-
4 · Accounts receivable
beginning of year $536,878 · end of year $252,250
-
9 · Prepaid expenses and deferred charges
beginning of year $61,524 · end of year $11,858
-
10a · Land, buildings and equipment: cost or other basis
$26,016,624
-
10b · Land, buildings and equipment: accumulated depreciation
$3,804,579
-
10c · Land, buildings and equipment, net
beginning of year $22,430,208 · end of year $22,212,045
-
17 · Accounts payable and accrued expenses
beginning of year $42,647 · end of year $464,662
-
20 · Tax-exempt bond liabilities
beginning of year $23,990,000 · end of year $23,990,000
-
27 · Net assets without donor restrictions
beginning of year $5,036,217 · end of year $4,772,778
Mission and programs · 2024
Mission
Operation of a public charter school.
-
Operation of a charter school in Asheville, North Carolina, serving approximately 718 students for the fiscal year ended June 30, 2025.
Expenses $6,512,759
As filed on the 2024 return.
Listed in Part VII
-
Elizabeth Russo
Member
- Total calculated
- $0
- Hours/week
- 0.75
-
Jon Blalock
Secretary
- Total calculated
- $0
- Hours/week
- 1.5
-
Jaime Grob-Grinnell
Member
- Total calculated
- $0
- Hours/week
- 1
-
William Hanson
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Al Glicksberg
Chair
- Total calculated
- $0
- Hours/week
- 1.5
-
Melanie Stowell
Member
- Total calculated
- $0
- Hours/week
- 2
-
Rebecca Hecht
Member
- Total calculated
- $0
- Hours/week
- 1
-
Ashley Fisher-tranese
Member
- Total calculated
- $0
- Hours/week
- 1
-
Jim Davidson
Member
- Total calculated
- $0
- Hours/week
- 1
-
Anthony Lynch
Member
- Total calculated
- $0
- Hours/week
- 1
-
Kelly Roark
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Sonya Strange
Member
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 March 2026
- IRS schema version
- 2024v5.2
- Source object
- 202630719349300038
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