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Nonprofiteer
← FRANKLIN COLLEGE OF INDIANA

Form 990 for tax year 2023

Filed by FRANKLIN COLLEGE OF INDIANA.

Totals

Total revenue
$53,485,375
Total expenses
$52,908,332
Contributions and grants received
$7,798,446
Grants paid
$20,352,831
Program service revenue
$40,153,527
Investment income
$5,258,103
Other revenue
$275,299
Total assets, end of year
$154,479,400
Total liabilities, end of year
$30,030,666
Net assets or fund balances, end of year
$124,448,734
Program services expenses (Part IX)
$47,607,813
Management and general expenses
$4,058,670
Fundraising expenses
$1,241,849
Program service expenses (Part III)
$47,607,813

Program services were 90.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Cathy Dunn

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • David Dunkle

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Deana Haworth

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • James Napolitan

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • John Auld Jr

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Peter Cangany

    Chair of the Board

    Total calculated
    $0
    Hours/week
    2

  • Robert DeVoss

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Sean Thomasson

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Susan DeVoss

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Susan Williams

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Theressa Wright

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Todd Bemis

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Worthe Holt Jr

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Amber Elwood

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Bill Cox

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Billie Dragoo

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brad Rateike

    Trustee (Beg DEC 2024)

    Total calculated
    $0
    Hours/week
    2

  • Daniel Hann

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • DAVID BYERS

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • David Wantz

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Devin Anderson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Illene Roggensack

    Trustee (Beg May 2024)

    Total calculated
    $0
    Hours/week
    2

  • James Due

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • John Talley

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jon Almeras

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • JULIE GILMORE

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Katharine Kruse

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kevin Crowe

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • KRISTIN STPIERRE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rafael Sanchez Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Randy Stocklin

    Trustee (Until February 2024)

    Total calculated
    $0
    Hours/week
    2

  • Robert Brown

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ron Bowsher

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Yolanda White

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Andrew Hendricks

    VP of Enrollment & Marketing

    Total calculated
    $206,373
    From this org
    $173,688
    From related orgs
    $0
    Other
    $32,685
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,575
    Bonus
    $0
    Other
    $1,113
    Deferred
    $17,318
    Nontaxable benefits
    $15,367
    Filer's total
    $206,373

  • Andrew Jones

    Vice President for Student Development & Dean of Students

    Total calculated
    $175,539
    From this org
    $137,498
    From related orgs
    $0
    Other
    $38,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,498
    Bonus
    $0
    Other
    $0
    Deferred
    $15,000
    Nontaxable benefits
    $23,041
    Filer's total
    $175,539

  • Dana Cummings

    Vice President Development and Alumni Engagement (Until March 2024)

    Total calculated
    $206,391
    From this org
    $166,130
    From related orgs
    $0
    Other
    $40,261
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,680
    Bonus
    $0
    Other
    $450
    Deferred
    $18,020
    Nontaxable benefits
    $22,241
    Filer's total
    $206,391

  • Kerry Prather

    President

    Total calculated
    $404,726
    From this org
    $344,963
    From related orgs
    $0
    Other
    $59,763
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $304,460
    Bonus
    $27,000
    Other
    $13,503
    Deferred
    $33,000
    Nontaxable benefits
    $26,763
    Filer's total
    $404,726

  • Kevin Honigford

    Vice President and Chief Financial Officer

    Total calculated
    $187,227
    From this org
    $158,245
    From related orgs
    $0
    Other
    $28,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,795
    Bonus
    $0
    Other
    $450
    Deferred
    $16,500
    Nontaxable benefits
    $12,482
    Filer's total
    $187,227

  • Kristin Flora

    Vice President for Academic Affairs & Dean of the College

    Total calculated
    $174,983
    From this org
    $151,198
    From related orgs
    $0
    Other
    $23,785
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,598
    Bonus
    $0
    Other
    $600
    Deferred
    $15,500
    Nontaxable benefits
    $8,285
    Filer's total
    $174,983

  • Jasmina Cheeseman

    Program Director & Assistant Professor

    Total calculated
    $154,974
    From this org
    $137,705
    From related orgs
    $0
    Other
    $17,269
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,705
    Bonus
    $0
    Other
    $0
    Deferred
    $11,971
    Nontaxable benefits
    $5,298
    Filer's total
    $154,974

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions
Travel expenses for the President's spouse are paid by the College when accompanying him during travel. The spouse is expected to be in attendance for fundraising events, meetings with trustees, and various meetings. This is not treated as taxable compensation.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
Club dues are paid for the President. All are treated as taxable compensation and appear on the Forms W-2 for these individuals.
Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses
The Board of Trustees determines eligibility for these benefits for the President. The President approves reimbursement for all other staff/faculty positions.
Schedule J, Part I, Line 7 Non-fixed payments
The President received incentive compensation for performance. The payment amount was designated by the Board.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (4)

    Trust · CHARITABLE REMAINDER TRUST · IN

    Directly controlled by na

Provenance

Return type
form_990
Tax year
2023
Filed
4 March 2025
IRS schema version
2023v6.0
Source object
202510639349300516

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