FRANKLIN SCHOOL FACILITIES CORPORATION

EIN: 831053789 501(c)(3) Education

SPARTANBURG, SC

Total Revenue
$128,436
Total Expenses
$496,740
Total Assets
$7,933,893
Net Assets
$-2,090,665
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
SC
Principal Officer
WILLIAM BARNET III
Phone
8645980097
Tax Period
2024-07-01 to 2025-06-30

FRANKLIN SCHOOL FACILITIES CORPORATION, founded in 2018, is a small nonprofit in the Education sector that reported $128K in total revenue in fiscal year 2024. Expenses of $497K exceeded revenue, resulting in a 287% operating deficit.

Mission

TO ASSIST AND SUPPORT NORTHSIDE DEVELOPMENT CORPORATION, A SOUTH CAROLINA NONPROFIT CORPORATION HAVING RECEIVED A DETERMINATION OF EXEMPTION FROM FEDERAL INCOME TAXATION FROM THE INTERNAL REVENUE SERVICE IN ACCORDANCE WITH SECTION 501(C)(3) OF THE CODE ("NDC") IN FURTHERANCE OF ITS EXEMPT PURPOSES BY INTER ALIA, ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, OR GRANTING RIGHTS OF ACCESS, USE OR POSSESSION, OF REAL PROPERTY AND IMPROVEMENTS THEREON IN THE AREA OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE "CITY") COMMONLY REFERRED TO AS "NORTHSIDE," INCLUDING BUT NOT LIMITED TO, FACILITIES USED AS EARLY CHILDHOOD EDUCATIONAL FACILITIES. WITHOUT LIMITATION OF THE FOREGOING, THE PURPOSES OF NDC TO BE SUPPORTED BY ACTIVITIES OF THE CORPORATION INCLUDE (I) PURCHASING OR OTHERWISE ACQUIRING, (II) SELLING OR OTHERWISE TRANSFERRING, (III) LEASING, (IV) MANAGING AND/OR DEVELOPING OR REDEVELOPING REAL PROPERTY AND IMPROVEMENTS THEREON WITHIN THE N

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $127,527
Investment Income $909
Other Revenue $0
TOTAL REVENUE $128,436

Expense Breakdown

Grants Paid $25,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $490,099
Other Expenses $471,740
TOTAL EXPENSES $496,740

Year-over-Year Comparison

2024 2023 Change
Revenue $128,436 $128,806 0.0%
Expenses $496,740 $509,133 0.0%
Net Income $-368,304 $-380,327 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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TAMMIE HOY HAWKINS TRUSTEE 2.00
Director
$0 $0 $0
WILLIAM BARNET III CHAIRMAN 2.00
Officer Director
$0 $0 $0
ED MEMMOTT SECRETARY/TR 2.00
Officer Director
$0 $0 $0
CAREY ROTHSCHILD TRUSTEE 2.00
Director
$0 $0 $0
TIM SCHMITZ TRUSTEE 2.00
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
2025 $128,436 $496,740 $7,933,893 $-368,304
2024 No data No data No data No data
2023 $127,360 $502,294 $8,707,523 $-374,934
2022 $126,036 $511,227 $9,064,757 $-385,191
2021 $127,616 $508,140 $9,442,648 $-380,524
2020 $102,621 $488,377 $9,794,005 $-385,756
2019 $442,660 $283,290 $10,159,370 $159,370
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