FRANKLIN DEVELOPMENT CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

KIM KASTING

Phone

3177363631

Tax Period

2023-01-01 to 2023-12-31

FRANKLIN DEVELOPMENT CORPORATION, founded in 2009, is a micro nonprofit in the Community Improvement sector that reported $43K in total revenue in fiscal year 2023. Revenue fell 127% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF THE FRANKLIN DEVELOPMENT CORPORATION IS COMMUNITY BETTERMENT PRIMARILY THROUGH ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $2,741

PROVIDE GRANTS TO NEW AND EXISTING BUSINESSES TO REHABILITATE DOWNTOWN FRANKLIN AND ENCOURAGE INVESTMENT IN THE CITY OF FRANKLIN.

Program 2

Expenses: $73,544

PROVIDE DOLLAR FOR DOLLAR MATCHING GRANTS TO COMMERCIAL PROPERTY OWNERS IN A SELECTED AREA OF DOWNTOWN FRANKLIN TO RENOVATE BUILDINGS AND INCREASE THE STREET APPEAL.

Program 3

Expenses: $91,100 Revenue: $24,802

PROVIDE LOW INTEREST RATE LOANS TO RESIDENTIAL OR COMMERCIAL PROPERTY OWNERS TO ENCOURAGE AND AID IN THE REHABILITATION/RENOVATION OF HISTORIC AND/OR UNDERUTILIZED HOMES AND BUILDINGS LOCATED WITHIN THE INTEGRATED ECONOMIC DEVELOPMENT AREA OF THE HISTORIC FRANKLIN. PORTIONS OF THE RESIDENTIAL LOANS MAY ALSO BE FORGIVEN IN THE FORM OF A GRANT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $29,952

Program Service Revenue $24,052

Investment Income $-95,311

Other Revenue $-1,990

TOTAL REVENUE $-43,297

Expense Breakdown

Grants Paid $167,385

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $167,385

Other Expenses $12,379

TOTAL EXPENSES $179,764

Year-over-Year Comparison

	2023	2022	Change
Revenue	$-43,297	$157,781	-1.3%
Expenses	$179,764	$245,355	-0.3%
Net Income	$-223,061	$-87,574	+1.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BEDWELL	PRESIDENT	1.00	Officer Director	$0	$0	$0
TINA GROSS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LISA JONES	TREASURER	1.50	Officer Director	$0	$0	$0
AMANDA OTT	DIRECTOR	1.00	Director	$0	$0	$0
AMY RICHARDSON	SECRETARY	1.00	Officer Director	$0	$0	$0
DUSTIN ROYER	DIRECTOR	1.00	Director	$0	$0	$0
AMY HAACKER	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$-43,297	$179,764	$1,814,314	$-223,061
2022	$157,781	$245,355	$2,037,375	$-87,574
2021	$140,219	$170,682	$2,130,949	$-30,463
2020	$108,106	$255,260	$2,155,411	$-147,154
2019	$343,865	$570,645	$2,360,749	$-226,780
2018	$433,105	$883,229	$2,287,451	$-450,124