FRANKLIN COUNTY EDUCATION CORPORATION (EIN 640817624) - 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

1992

Legal Domicile

Phone

6015326597

Tax Period

2024-01-01 to 2024-12-31

FRANKLIN COUNTY EDUCATION CORPORATION, founded in 1992, is a small nonprofit that reported $105K in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $61K, a strong 57% operating margin.

Mission

THE PRINCIPAL PURPOSE OF THE CORPORATION IS TO WORK TOWARD THE IMPROVEMENT OF EDUCATION IN MEADVILLE, FRANKLIN COUNTY, MS, BY IDENTIFYING SPECIFIC NEEDS AND ASSISTING IN THE DEVELOPMENT OF PROJECTS, UNDERTAKING STUDIES AND OTHER ACTIVITIES TO MEET THOSE NEEDS IN COOPERATION AND IN COORDINATION WITH THE FRANKLIN COUNTY SCHOOL SYSTEM AND OTHER TAX EXEMPT SCHOOLS IN FRANKLIN COUNTY,MS, AND TO THESE ENDS TO SOLICIT PUBLIC CONTRIBTUIONS OF MONEY, TIME, AND TALENT FROM ORGANIZATIONS AND INDIVIUALS WILLING TO FUND AND/OR PARTICIPATE IN SUCH PROJECTS, UNDERTAKINGS, AND OTHER ACTIVITIES.

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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 $102,029

Program Service Revenue $0

Investment Income $3,461

Other Revenue $0

TOTAL REVENUE $105,490

Expense Breakdown

Grants Paid $43,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $43,000

Other Expenses $1,911

TOTAL EXPENSES $44,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$105,490	$124,217	-0.2%
Expenses	$44,911	$54,027	-0.2%
Net Income	$60,579	$70,190	-0.1%

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

N/A

Employees

N/A

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	Role	Reportable Comp	Other Comp	Total
GEORGE COLLINS	Vice President	Director	$0	$0	$0
JENNIFER TURNAGE	Secretary/Treas	Director	$0	$0	$0
DR ELMO P GABBERT	Director	Director	$0	$0	$0
WOODROW WILSON	Director	Director	$0	$0	$0
RANDY YOUNGBLOOD	President	Director	$0	$0	$0
BRAD JONES	Director	Director	$0	$0	$0
BOB KIMBROUGH	Director	Director	$0	$0	$0
CHRIS KENT	Director	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	$105,490	$44,911	$664,294	$60,579
2023	$124,217	$54,027	$603,715	$70,190
2022	$432,217	$366,501	$533,525	$65,716

FRANKLIN COUNTY EDUCATION CORPORATION