Totals
- Total revenue
- $111,960,173
- Total expenses
- $99,072,517
- Contributions and grants received
- $1,031,611
- Grants paid
- $13,544,902
- Program service revenue
- $97,755,369
- Investment income
- $12,704,537
- Other revenue
- $468,656
- Total assets, end of year
- $151,440,069
- Total liabilities, end of year
- $24,308,091
- Net assets or fund balances, end of year
- $127,131,978
- Program services expenses (Part IX)
- $83,549,819
- Management and general expenses
- $15,341,222
- Fundraising expenses
- $181,476
- Program service expenses (Part III)
- $83,549,819
Program services were 84.3% 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.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$489,194
-
1f · All other contributions, gifts and grants
$542,417
-
1g · Noncash contributions included above
$0
-
2a · Program service revenue: Tuition and fees
total $96,989,421 · related or exempt $96,989,421 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $765,948 · related or exempt $765,948 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,402,365 · related or exempt $0 · unrelated business $0 · excluded $2,402,365
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $849,441 · personal property $0
-
6b · Less rental expenses
real property $575,918 · personal property $0
-
6c · Rental income or loss
real property $273,523 · personal property $0
-
6d · Net rental income or loss
total $273,523 · related or exempt $0 · unrelated business $0 · excluded $273,523
-
7a · Gross sales of assets other than inventory
securities $199,940,583 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $189,638,411 · other assets $0
-
7c · Gain or loss
securities $10,302,172 · other assets $0
-
7d · Net gain or loss
total $10,302,172 · related or exempt $0 · unrelated business $0 · excluded $10,302,172
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0 · unrelated business $0 · excluded $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $195,133 · related or exempt $195,133 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$195,133
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0 · program services $0
-
2 · Grants to domestic individuals
total $13,544,902 · program services $13,544,902
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $4,313,489 · program services $2,768,424 · management and general $1,545,065 · fundraising $0
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $43,158,734 · program services $36,055,396 · management and general $7,002,556 · fundraising $100,782
-
8 · Pension plan contributions
total $3,205,034 · program services $2,677,529 · management and general $520,021 · fundraising $7,484
-
9 · Other employee benefits
total $5,538,937 · program services $4,627,304 · management and general $898,699 · fundraising $12,934
-
10 · Payroll taxes
total $3,693,254 · program services $3,085,395 · management and general $599,235 · fundraising $8,624
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $186,652 · program services $0 · management and general $186,652 · fundraising $0
-
11c · Fees: accounting
total $91,500 · program services $0 · management and general $91,500 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $454,752 · program services $0 · management and general $454,752 · fundraising $0
-
11g · Fees: other
total $2,503,710 · program services $2,091,633 · management and general $406,230 · fundraising $5,847
-
12 · Advertising and promotion
total $8,440,220 · program services $8,440,220 · management and general $0 · fundraising $0
-
13 · Office expenses
total $3,098,138 · program services $2,588,227 · management and general $502,676 · fundraising $7,235
-
14 · Information technology
total $2,184,504 · program services $1,824,965 · management and general $354,438 · fundraising $5,101
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $1,638,075 · program services $760,487 · management and general $862,430 · fundraising $15,158
-
17 · Travel
total $448,632 · program services $374,793 · management and general $72,791 · fundraising $1,048
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $154,583 · program services $129,141 · management and general $25,081 · fundraising $361
-
20 · Interest
total $532,223 · program services $0 · management and general $532,223 · fundraising $0
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $1,612,899 · program services $748,799 · management and general $849,175 · fundraising $14,925
-
23 · Insurance
total $238,544 · program services $199,283 · management and general $38,704 · fundraising $557
-
24a · Other expenses: Bad debt expense
total $3,100,323 · program services $2,800,000 · management and general $300,323
-
24b · Other expenses: Library
total $325,271 · program services $325,271 · management and general $0 · fundraising $0
-
24e · All other expenses
total $608,141 · program services $508,050 · management and general $98,671 · fundraising $1,420
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,227,730 · end of year $1,412,106
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $402,759 · end of year $0
-
4 · Accounts receivable
beginning of year $6,757,147 · end of year $6,128,179
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $3,000,000 · end of year $1,000,000
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,095,517 · end of year $1,688,214
-
10a · Land, buildings and equipment: cost or other basis
$57,981,611
-
10b · Land, buildings and equipment: accumulated depreciation
$37,504,303
-
10c · Land, buildings and equipment, net
beginning of year $20,355,164 · end of year $20,477,308
-
11 · Investments: publicly traded securities
beginning of year $75,306,755 · end of year $43,142,740
-
12 · Investments: other securities
beginning of year $35,390,511 · end of year $77,270,750
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $320,772 · end of year $320,772
-
17 · Accounts payable and accrued expenses
beginning of year $9,924,727 · end of year $8,230,062
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $3,913,031 · end of year $3,417,198
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $9,034,281 · end of year $8,160,831
-
24 · Unsecured notes and loans payable
beginning of year $4,000,000 · end of year $4,500,000
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $106,289,366 · end of year $115,482,166
-
28 · Net assets with donor restrictions
beginning of year $10,694,950 · end of year $11,649,812
Mission and programs · 2024
Mission
Since 1902, Franklin University has been a pioneer in meeting the needs of adult students who have the ambition to continue their education in combination with other responsibilities, receiving its status as a tax exempt organization in 1964. As a learner-centered institution of higher education, the four cornerstones of the Franklin educational philosophy are (a) Ensuring academic quality (b) Providing equal access to educational opportunities (c) Adapting to the needs of students (d) Responding to changes in society, professions, and the business community. Franklin continuously seeks and appreciates strategic partner relationships that support our learning environment and experiences of our students. Investments from strategic partners may include contributions for student scholarships as well as contributions to enhance program offerings, facilities, and technology.
Activities or mission (Part I)
Franklin University is a student-centered, nonprofit, independent institution providing high quality, relevant education to enable the broadest possible community of learners to achieve their goals and enrich the world.
-
Franklin University served 14,678 unique students in the 2024-25 Academic Year, granting 125 Associate's degrees, 1,415 Bachelor's degrees, 899 Master's degrees, 70 Doctoral degrees, and 33 graduate certificates. Franklin has a total of 78 academic program offerings (42 undergraduate, 2 undergraduate certificates, and 23 graduate, 5 doctorate and 6 graduate certificates). Globally, Franklin offers its MBA and undergraduate programs to students through international partnerships.
Expenses $83,549,819 · Grants $13,544,902 · Revenue $97,755,369
As filed on the 2024 return.
Listed in Part VII
-
Dr David R Decker
President
- Total calculated
- $1,007,178
- From this org
- $956,585
- From related orgs
- $0
- Other
- $50,593
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $548,214
- Bonus
- $406,085
- Other
- $2,286
- Deferred
- $34,500
- Nontaxable benefits
- $16,093
- Filer's total
- $1,007,178
-
Christi Farley-Cabungcal
Chief of Staff & SVP Administration
- Total calculated
- $438,800
- From this org
- $388,867
- From related orgs
- $0
- Other
- $49,933
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $277,397
- Bonus
- $106,164
- Other
- $5,306
- Deferred
- $34,500
- Nontaxable benefits
- $15,433
- Filer's total
- $438,800
-
Dr Christopher Washington
Provost and SVP-Academic Affairs
- Total calculated
- $437,439
- From this org
- $381,590
- From related orgs
- $0
- Other
- $55,849
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $277,397
- Bonus
- $106,629
- Other
- -$2,436
- Deferred
- $34,500
- Nontaxable benefits
- $21,349
- Filer's total
- $437,439
-
Dr Godfrey Mendes
SVP Global Programs & Strategic Initiatives
- Total calculated
- $433,096
- From this org
- $375,861
- From related orgs
- $0
- Other
- $57,235
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $277,397
- Bonus
- $106,164
- Other
- -$7,700
- Deferred
- $34,500
- Nontaxable benefits
- $22,735
- Filer's total
- $433,096
-
Rick Sunderman
SVP and Chief Information Officer
- Total calculated
- $402,176
- From this org
- $347,222
- From related orgs
- $0
- Other
- $54,954
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $252,179
- Bonus
- $96,513
- Other
- -$1,470
- Deferred
- $34,500
- Nontaxable benefits
- $20,454
- Filer's total
- $402,176
-
Dr Marv Briskey
Treasurer/SVP-Chief Financial Officer
- Total calculated
- $397,398
- From this org
- $347,463
- From related orgs
- $0
- Other
- $49,935
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $252,179
- Bonus
- $96,513
- Other
- -$1,229
- Deferred
- $34,500
- Nontaxable benefits
- $15,435
- Filer's total
- $397,398
-
Dr Lynnette Rouzer
VP-Student Affairs
- Total calculated
- $363,780
- From this org
- $320,480
- From related orgs
- $0
- Other
- $43,300
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $236,294
- Bonus
- $85,961
- Other
- -$1,775
- Deferred
- $32,225
- Nontaxable benefits
- $11,075
- Filer's total
- $363,780
-
Bill Chan
VP-Strategic Alliances
- Total calculated
- $362,694
- From this org
- $319,617
- From related orgs
- $0
- Other
- $43,077
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $236,294
- Bonus
- $85,961
- Other
- -$2,638
- Deferred
- $32,225
- Nontaxable benefits
- $10,852
- Filer's total
- $362,694
-
Carl Brown
VP-Campus Services
- Total calculated
- $340,877
- From this org
- $290,666
- From related orgs
- $0
- Other
- $50,211
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $208,735
- Bonus
- $79,886
- Other
- $2,045
- Deferred
- $28,862
- Nontaxable benefits
- $21,349
- Filer's total
- $340,877
-
Dr Patrick Bennett
VP Operations, Franklin Learning Solutions
- Total calculated
- $303,767
- From this org
- $258,111
- From related orgs
- $0
- Other
- $45,656
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $208,735
- Bonus
- $43,293
- Other
- $6,083
- Deferred
- $25,202
- Nontaxable benefits
- $20,454
- Filer's total
- $303,767
-
Randolph Snyder
VP-Financial Services
- Total calculated
- $295,091
- From this org
- $252,647
- From related orgs
- $0
- Other
- $42,444
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $211,695
- Bonus
- $41,523
- Other
- -$571
- Deferred
- $25,322
- Nontaxable benefits
- $17,122
- Filer's total
- $295,091
-
Dr Wendell Seaborne
Dean Doctoral Studies and Academic Research
- Total calculated
- $244,877
- From this org
- $213,845
- From related orgs
- $0
- Other
- $31,032
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,995
- Bonus
- $32,806
- Other
- $12,044
- Deferred
- $20,180
- Nontaxable benefits
- $10,852
- Filer's total
- $244,877
-
Dr Alyncia Bowen
Dean, College of Business
- Total calculated
- $237,974
- From this org
- $207,053
- From related orgs
- $0
- Other
- $30,921
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,988
- Bonus
- $35,904
- Other
- $2,161
- Deferred
- $20,489
- Nontaxable benefits
- $10,432
- Filer's total
- $237,974
-
Dr Jonathan W McCombs
Dean, College of Health
- Total calculated
- $227,046
- From this org
- $205,038
- From related orgs
- $0
- Other
- $22,008
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,988
- Bonus
- $34,444
- Other
- $1,606
- Deferred
- $20,243
- Nontaxable benefits
- $1,765
- Filer's total
- $227,046
-
David White
Chair
- Total calculated
- $0
- Hours/week
- 2
-
Stacey Armstrong
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Ralph Sanese
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Stan Partlow
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Jamie Crane
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Gary Flynn
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Ted Ford
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Anthony Gonsalves
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Bruce Hagen
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Gary James
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Peter Roche
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Matthew Toussant
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Melissa Gutierrez
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Shoupe
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Jennifer Thomas
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Pamela Springer
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Bill Balderaz
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Oyauma Garrison
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Carrie Harris-Muller
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Joseph Patrick
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Denise Zabawski
Trustee
- Total calculated
- $0
- Hours/week
- 2
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 · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 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
- Pursuant to his employment agreement, Dr. Decker receives a monthly housing allowance, treated as taxable compensation, and membership in a dinner/fitness club, not treated as taxable compensation.
- Schedule J, Part I, Line 3
- Compensation reviews, prepared by an independent compensation consulting team, are periodically conducted. A thorough examination of external documented pay data (published surveys and 990 filings) for comparable positions at peer institutions (as mutually agreed upon by Franklin University and the consultants) are conducted. Compensation levels are reviewed for market competitiveness and reasonableness and are compared for all components of pay including cash compensation, benefits and perquisites. The results include individual market data as well as an aggregate perspective. The Human Resources Committee of the Board of Trustees approves the resulting reviews and receives a letter of comfort from the consultants.
- Schedule J, Part I, Line 7
- Bonuses are paid depending on the achievement of various performance criteria. The Board of Trustees determines the bonus of the President.
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 June 2026
- IRS schema version
- 2024v5.0
- Source object
- 202601549349301375
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