The Franklin Academy

EIN: 911434401 501(c)(3) Education

Bellingham, WA

Total Revenue
$5,842,222
Total Expenses
$5,708,767
Total Assets
$5,479,355
Net Assets
$593,102
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
WA
Principal Officer
Scott Whitman
Phone
3607331750
Tax Period
2023-08-01 to 2024-07-31

The Franklin Academy, founded in 2001, is a community nonprofit in the Education sector that reported $5.8M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion.

Mission

Provide education integrating STEM, rigor, and leadership while developing character based on timeless values in a close-knit community.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,222,644
Program Service Revenue $4,474,727
Investment Income $6,205
Other Revenue $138,646
TOTAL REVENUE $5,842,222

Expense Breakdown

Grants Paid $197,866
Salaries & Benefits $3,862,544
Fundraising Expenses $143,904
Program Expenses $4,136,600
Other Expenses $1,648,357
TOTAL EXPENSES $5,708,767

Year-over-Year Comparison

2023 2022 Change
Revenue $5,842,222 $4,948,719 +0.2%
Expenses $5,708,767 $5,539,145 +0.0%
Net Income $133,455 $-590,426 -1.2%
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

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Governance

Voting Members
10
Independent Members
10
Employees
100
Volunteers
220

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
7
$266,139
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mai Ha Tung Do President 1.00
Officer Director
$0 $0 $0
John Mulhern 1st Vice President 1.00
Officer Director
$0 $0 $0
Sarah Kaiser 2nd Vice President 1.00
Officer Director
$0 $0 $0
Jennifer Bowles Secretary 1.00
Officer Director
$0 $0 $0
Scott Whitman Treasurer 1.00
Officer Director
$0 $0 $0
Tom Jones Board Member 1.00
Director
$0 $0 $0
Matt Conner Board Member 1.00
Director
$0 $0 $0
Nicholas Kaiser Board Member 1.00
Director
$0 $0 $0
Nadia Boulos Board Member 1.00
Director
$0 $0 $0
Greg Stevenson Board Member 1.00
Director
$0 $0 $0
Gretchen Bucsko Head of School 40.00
Officer
$220,471 $16,069 $236,540
Anne-Marie Misko-Kennedy Director of Finance and Operations 40.00
Officer
$26,946 $2,653 $29,599
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 $5,842,222 $5,708,767 $5,479,355 $133,455
2023 $4,948,719 $5,539,145 $4,682,984 $-590,426
2022 $4,684,206 $4,297,610 $15,628,622 $386,596
2021 $4,081,655 $3,332,408 $15,603,247 $749,247
2020 $2,958,208 $2,769,604 $14,523,786 $188,604
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