Is Franklin Memorial Hospital Legit?

Franklin Memorial Hospital's financial health appears to be in a state of flux, with a notable decrease in reported revenue from a high of $89,987,446 in 2012 to $20,129,084 in the latest period. This significant drop, coupled with a reported $0 in assets for the latest period, raises concerns about the organization's current operational capacity and financial stability. While historical filings show substantial assets, the most recent data point is a critical anomaly that warrants further investigation. The organization's spending efficiency, based on available data, shows a consistent trend of expenses often exceeding revenue in several periods, such as $81,148,947 in expenses against $77,428,477 in revenue in 2017. This indicates a potential reliance on reserves or other funding sources to cover operational costs. The lack of detailed expense breakdowns in the provided data makes a precise assessment of program versus administrative spending challenging. However, the consistent reporting of 0% officer compensation across all filings suggests a commitment to minimizing executive overhead, which is a positive indicator for transparency and efficient use of funds. Transparency is generally good, with a consistent filing history of 8 IRS 990 forms. The consistent reporting of 0% officer compensation is a strong point for transparency regarding executive pay. However, the dramatic change in reported assets from millions to zero in the latest period, without further context, creates a significant transparency gap that needs clarification for a complete understanding of the organization's financial standing.