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Nonprofiteer
← FRANKLIN NEWS FOUNDATION

Form 990 for tax year 2023

Filed by FRANKLIN NEWS FOUNDATION.

Totals

Total revenue
$4,816,686
Total expenses
$5,314,892
Contributions and grants received
$4,705,392
Grants paid
$500
Program service revenue
$0
Investment income
$0
Other revenue
$111,294
Total assets, end of year
$901,000
Total liabilities, end of year
$1,086,647
Net assets or fund balances, end of year
-$185,647
Program services expenses (Part IX)
$4,644,792
Management and general expenses
$418,935
Fundraising expenses
$251,165
Program service expenses (Part III)
$4,644,792

Program services were 87.4% 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.

  • 1f · All other contributions, gifts and grants

    $4,705,392

  • 11a · Other revenue: ADVERTISING

    total $72,544 · unrelated business $72,544

  • 11b · Other revenue: PODCAST

    total $38,750 · related or exempt $38,750

  • 11e · Other revenue, total

    $111,294

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $500 · program services $500

  • 7 · Other salaries and wages

    total $2,716,921 · program services $2,510,202 · management and general $47,352 · fundraising $159,367

  • 9 · Other employee benefits

    total $292,894 · program services $283,440 · management and general $475 · fundraising $8,979

  • 10 · Payroll taxes

    total $210,163 · program services $201,196 · management and general $447 · fundraising $8,520

  • 11b · Fees: legal

    total $21,961 · program services $7,209 · management and general $14,752

  • 11c · Fees: accounting

    total $21,000 · management and general $21,000

  • 11g · Fees: other

    total $1,543,574 · program services $1,179,970 · management and general $291,004 · fundraising $72,600

  • 12 · Advertising and promotion

    total $324,997 · program services $324,870 · management and general $127

  • 13 · Office expenses

    total $69,533 · program services $41,229 · management and general $28,304

  • 16 · Occupancy

    total $1,219 · program services $492 · management and general $727

  • 17 · Travel

    total $76,895 · program services $74,184 · management and general $1,012 · fundraising $1,699

  • 20 · Interest

    total $13,252 · program services $12,671 · management and general $581

  • 23 · Insurance

    total $41,648 · management and general $41,648

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $10,323 · program services $8,829 · management and general $1,494

  • 24b · Other expenses: OTHER

    total -$29,988 · management and general -$29,988

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $198,468 · end of year $8,200

  • 2 · Savings and temporary cash investments

    beginning of year $10

  • 3 · Pledges and grants receivable

    beginning of year $424,252 · end of year $406,243

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,357

  • 7 · Other notes and loans receivable

    end of year $128,907

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,979 · end of year $35,810

  • 12 · Investments: other securities

    beginning of year $164,804 · end of year $311,715

  • 15 · Other assets

    beginning of year $165,539 · end of year $10,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $435,761 · end of year $315,819

  • 24 · Unsecured notes and loans payable

    end of year $385,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $385,828

  • 27 · Net assets without donor restrictions

    beginning of year $535,648 · end of year -$500,494

  • 28 · Net assets with donor restrictions

    end of year $314,847

Mission and programs · 2023

Mission

THE MISSION OF FRANKLIN NEWS FOUNDATION IS TO PROMOTE SOCIAL WELFARE AND CIVIL BETTERMENT BY UNDERTAKING PROGRAMS THAT PROMOTE JOURNALISM AND THE EDUCATION OF THE PUBLIC ABOUT CORRUPTION, INCOMPETENCE, FRAUD OR TAXPAYER ABUSE BY ELECTED OFFICIALS AT ALL LEVELS OF GOVERNMENT.

Activities or mission (Part I)

THE MISSION OF FRANKLIN NEWS FOUNDATION IS TO PROMOTE SOCIAL WELFARE AND CIVIL BETTERMENT BY UNDERTAKING PROGRAMS THAT PROMOTE JOURNALISM AND THE EDUCATION OF THE PUBLIC ABOUT CORRUPTION, INCOMPETENCE, FRAUD OR TAXPAYER ABUSE BY ELECTION OFFICIALS AT ALL LEVELS OF GOVERNMENT.

  • THE CENTER SQUARE NEWSWIRE SERVICE

    Expenses $4,644,792 · Grants $500

As filed on the 2023 return.

Listed in Part VII

  • Christopher Krug

    PRESIDENT

    Total calculated
    $443,591
    From this org
    $443,591
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $308,591
    Bonus
    $135,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $443,591

  • John Tillman

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Bradley Walton

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Eric Sucharski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel McCaleb

    EXECUTIVE EDITOR

    Total calculated
    $180,819
    From this org
    $180,819
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,319
    Bonus
    $21,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $180,819

  • Cole Lauterbach

    EMPLOYEE

    Total calculated
    $108,455
    From this org
    $108,455
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jerry Lyles

    EMPLOYEE

    Total calculated
    $128,639
    From this org
    $128,639
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Laurel Abraham

    EMPLOYEE

    Total calculated
    $143,761
    From this org
    $143,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

  • FRANKLIN MEDIA GROUP INC

    C · ILLINOIS RADIO NETWORK · IL · 100% owned · controlled entity

    Directly controlled by FRANKLIN NEWS FOUNDATION

  • ADVANCED DIGITAL MEDIA INC

    S · VIDEO PRODUCTION · IL · 100% owned · controlled entity

    Directly controlled by ADVANCED DIGITAL MEDIA INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349322357

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