THE FRANKLIN ACADEMY INC

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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

1997

Legal Domicile

Principal Officer

WILLIAM H FRANCIS JR

Phone

9195544911

Tax Period

2024-07-01 to 2025-06-30

THE FRANKLIN ACADEMY INC, founded in 1997, is a mid-sized nonprofit in the Education sector that reported $20.0M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $17.5M left a modest 13% surplus.

Mission

THE CORPORATION'S PRIMARY EXEMPT PURPOSE IS TO ENGAGE IN THE CHARITABLE AND EDUCATIONAL PURPOSES OF PROVIDING QUALITY PUBLIC EDUCATION AS A CHARTER SCHOOL CREATED PURSUANT TO THE GENERAL STATUTES OF NORTH CAROLINA ESTABLISHING CHARTER SCHOOLS.

Program Service Accomplishments

Program 1

Expenses: $14,525,673 Revenue: $1,486,289

OPERATED CHARTER SCHOOL IN WAKE FOREST NORTH CAROLINA - PROVIDED INSTRUCTION SERVICES AND FACILITY FOR EDUCATIONAL PURPOSES AS PROVIDED BY NORTH CAROLINA CHARTER SCHOOLS, AND PROVIDED NUTRITIONAL...

OPERATED CHARTER SCHOOL IN WAKE FOREST NORTH CAROLINA - PROVIDED INSTRUCTION SERVICES AND FACILITY FOR EDUCATIONAL PURPOSES AS PROVIDED BY NORTH CAROLINA CHARTER SCHOOLS, AND PROVIDED NUTRITIONAL FOOD TO STUDENTS.

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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 $17,878,363

Program Service Revenue $322,776

Investment Income $675,078

Other Revenue $1,163,513

TOTAL REVENUE $20,039,730

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,073,733

Fundraising Expenses $14,923

Program Expenses $14,525,673

Other Expenses $4,407,072

TOTAL EXPENSES $17,480,805

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,039,730	$18,121,235	+0.1%
Expenses	$17,480,805	$15,605,186	+0.1%
Net Income	$2,558,925	$2,516,049	+0.0%

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

243

Volunteers

N/A

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
ROBERT L LUDDY	CHAIRMAN	2.00	Officer Director	$0	$0	$0
RICK EDDINS	DIRECTOR	1.00	Director	$0	$0	$0
ALPHONSA C MERRITT	DIRECTOR	1.00	Director	$0	$0	$0
JUDY NUNNENKAMP	DIRECTOR	1.00	Director	$0	$0	$0
BILL FRANCIS	TREASURER	1.00	Officer Director	$0	$0	$0
BRANDON HAFNER	DIRECTOR	1.00	Director	$0	$0	$0
DENISE KENT	HEAD ADMINISTRATOR	45.00	Highest	$179,594	$0	$179,594

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	$20,039,730	$17,480,805	$30,069,220	$2,558,925
2024	$18,121,235	$15,605,186	$27,481,738	$2,516,049
2023	$16,397,889	$14,989,787	$25,015,003	$1,408,102
2022	$17,154,874	$14,578,907	$23,533,490	$2,575,967
2021	$15,466,175	$13,644,190	$21,035,006	$1,821,985
2020	$14,868,776	$13,392,411	$19,058,375	$1,476,365
2019	$14,462,843	$13,207,508	$18,640,181	$1,255,335
2018	$13,473,538	$12,594,279	$22,191,572	$879,259