The Franklin Academy

EIN: 911434401 501(c)(3) Education

Bellingham, WA

Total Revenue
$6,457,104
Total Expenses
$6,034,815
Total Assets
$6,641,012
Net Assets
$1,029,531
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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
2024-08-01 to 2025-07-31

The Franklin Academy, founded in 2001, is a community nonprofit in the Education sector that reported $6.5M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $6.0M left a modest 7% surplus.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $4,637,195 Revenue: $4,924,591

The Academy's programs include a preschool for children ages 2 1/2 and up, as well as an elementary/middle school for children in grades Kindergarten through 8th grade. The academic programs aim to...

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The Academy's programs include a preschool for children ages 2 1/2 and up, as well as an elementary/middle school for children in grades Kindergarten through 8th grade. The academic programs aim to provide a strong foundation for learning, global citizenship, and a life of significance. The Academy joins other schools and universities that celebrate a love of challenging questions, rigorous inquiry, free expression and service to others.Grants include Academy-funded financial aid to eligible families and discounts to employees.

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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 $1,357,771
Program Service Revenue $4,836,872
Investment Income $48,204
Other Revenue $214,257
TOTAL REVENUE $6,457,104

Expense Breakdown

Grants Paid $590,350
Salaries & Benefits $4,177,671
Fundraising Expenses $119,547
Program Expenses $4,637,195
Other Expenses $1,266,794
TOTAL EXPENSES $6,034,815

Year-over-Year Comparison

2024 2023 Change
Revenue $6,457,104 $5,842,222 +0.1%
Expenses $6,034,815 $5,708,767 +0.1%
Net Income $422,289 $133,455 +2.2%
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
12
Independent Members
12
Employees
106
Volunteers
168

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
6
$293,541
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Matt Conner President 1.00
Officer Director
$0 $0 $0
Sarah Kaiser 1st Vice President 1.00
Officer Director
$0 $0 $0
Nadia Boulos Secretary 1.00
Officer Director
$0 $0 $0
Scott Whitman Treasurer 1.00
Officer Director
$0 $0 $0
Jennifer Bowles Board Member 1.00
Director
$0 $0 $0
Jaime Cleveland Board Member 1.00
Director
$0 $0 $0
Nicholas Kaiser Board Member 1.00
Director
$0 $0 $0
Kevin Cooley Board Member 1.00
Director
$0 $0 $0
Greg Stevenson Board Member 1.00
Director
$0 $0 $0
John Mulhern Board Member 1.00
Director
$0 $0 $0
Danielle Tandon Board Member 1.00
Director
$0 $0 $0
Bassam Boulos Board Member 1.00
Director
$0 $0 $0
Tung Mai Board Member 1.00
Director
$0 $0 $0
Gretchen Bucsko Head of School 40.00
Officer
$179,418 $19,234 $198,652
Anne-Marie Misko-Kennedy Director of Finance and Op 40.00
Officer
$86,599 $8,290 $94,889
Melanie Hurley Associate Head of School 40.00
Highest
$109,835 $11,631 $121,466
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 $6,457,104 $6,034,815 $6,641,012 $422,289
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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