Franklin College of Indiana (EIN 350868086) - Form 990 Financial Analysis & Trantor Score

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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

1937

Legal Domicile

Phone

3177388000

Tax Period

2024-07-01 to 2025-06-30

Franklin College of Indiana, founded in 1937, is a mid-sized nonprofit in the Education sector that reported $56.1M in total revenue in fiscal year 2024. Net assets of $127.4M represent 27 months of operating reserves.

Mission

Franklin College empowers students through an experiential education, grounded in the liberal arts and sciences, promoting impactful careers and meaningful lives.

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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 (2024)

Revenue Breakdown

Contributions & Grants $6,636,673

Program Service Revenue $42,606,193

Investment Income $6,638,647

Other Revenue $268,145

TOTAL REVENUE $56,149,658

Expense Breakdown

Grants Paid $21,108,951

Salaries & Benefits $15,884,598

Fundraising Expenses $1,232,553

Program Expenses $49,651,868

Other Expenses $18,047,199

TOTAL EXPENSES $55,172,563

Year-over-Year Comparison

	2024	2023	Change
Revenue	$56,149,658	$53,485,375	+0.0%
Expenses	$55,172,563	$52,908,332	+0.0%
Net Income	$977,095	$577,043	+0.7%

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

758

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

$1,300,371

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Cathy Dunn	Vice Chair	2.0	Officer Director	$0	$0	$0
David Dunkle	Vice Chair	2.0	Officer Director	$0	$0	$0
Deana Haworth	Vice Chair	2.0	Officer Director	$0	$0	$0
James Napolitan	Treasurer	2.0	Officer Director	$0	$0	$0
John Auld Jr	Vice Chair	2.0	Officer Director	$0	$0	$0
Peter Cangany	Chair of the Board	2.0	Officer Director	$0	$0	$0
Robert DeVoss	Vice Chair	2.0	Officer Director	$0	$0	$0
Sean Thomasson	Vice Chair	2.0	Officer Director	$0	$0	$0
Susan DeVoss	Secretary	2.0	Officer Director	$0	$0	$0
Susan Williams	Vice Chair	2.0	Officer Director	$0	$0	$0
Theressa Wright	Vice Chair	2.0	Officer Director	$0	$0	$0
Todd Bemis	Vice Chair	2.0	Officer Director	$0	$0	$0
Worthe Holt Jr	Vice Chair	2.0	Officer Director	$0	$0	$0
Amber Elwood	Trustee	2.0	Director	$0	$0	$0
Bill Cox	Trustee	2.0	Director	$0	$0	$0
Billie Dragoo	Trustee	2.0	Director	$0	$0	$0
Brad Rateike	Trustee	2.0	Director	$0	$0	$0
Daniel Hann	Trustee	2.0	Director	$0	$0	$0
DAVID BYERS	Trustee	2.0	Director	$0	$0	$0
David Wantz	Trustee	2.0	Director	$0	$0	$0
Devin Anderson	Trustee	2.0	Director	$0	$0	$0
Illene Roggensack	Trustee	2.0	Director	$0	$0	$0
James Due	Trustee (Until September 2024)	2.0	Director	$0	$0	$0
John Talley	Trustee	2.0	Director	$0	$0	$0
Jon Almeras	Trustee	2.0	Director	$0	$0	$0
JULIE GILMORE	Trustee	2.0	Director	$0	$0	$0
Katharine Kruse	Trustee (Until February 2025)	2.0	Director	$0	$0	$0
Kevin Crowe	Trustee	2.0	Director	$0	$0	$0
KRISTIN STPIERRE	TRUSTEE	2.0	Director	$0	$0	$0
Nadine Melind	Trustee (Began September 2024)	2.0	Director	$0	$0	$0
Rafael Sanchez Jr	Trustee	2.0	Director	$0	$0	$0
Richard Ellery	Trustee (Began February 2025)	2.0	Director	$0	$0	$0
Robert Brown	Trustee	2.0	Director	$0	$0	$0
Ron Bowsher	Trustee	2.0	Director	$0	$0	$0
Yolanda White	Trustee	2.0	Director	$0	$0	$0
Andrew Hendricks	VP of Enrollment & Marketing	40.0	Officer	$190,513	$17,328	$207,841
Andrew Jones	Vice President for Student Development & Dean of Students	40.0	Officer	$143,294	$22,458	$165,752
Kerry Prather	President	40.0	Officer	$354,937	$43,010	$397,947
Kevin Honigford	Vice President and Chief Financial Officer	40.0	Officer	$175,451	$21,246	$196,697
Kristin Flora	Vice President for Academic Affairs & Dean of the College	40.0	Officer	$168,736	$18,372	$187,108
Nora Brems	Vice President of Development and Alumni Engagement	40.0	Officer	$137,857	$7,169	$145,026
Arbin Thapaliya	Assistant Professor of Physics	40.0	Highest	$101,191	$10,488	$111,679
Benjamin O'Neal	Associate Professor of Biology	40.0	Highest	$100,386	$14,023	$114,409
Jasmina Cheeseman	Program Director & Assistant Professor	40.0	Highest	$146,434	$13,015	$159,449

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
2025	$56,149,658	$55,172,563	$157,442,974	$977,095
2024	$53,485,375	$52,908,332	$154,479,400	$577,043
2023	$45,024,560	$52,368,802	$149,014,659	$-7,344,242
2022	$51,278,837	$50,621,990	$144,719,563	$656,847
2021	$64,884,316	$49,853,745	$160,839,660	$15,030,571
2020	$38,689,128	$47,536,371	$142,128,594	$-8,847,243
2019	$43,088,333	$45,962,474	$147,361,132	$-2,874,141
2018	$44,652,304	$44,183,866	$148,233,862	$468,438

Franklin College of Indiana