Franklin Home For The Aged Association
Franklin Home For The Aged Association faces recent deficits despite significant asset growth, with liabilities exceeding assets in the latest filing.
EIN: 20202330 · Franklin, NH · NTEE: L222 · Updated: 2026-03-28
Is Franklin Home For The Aged Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin Home For The Aged Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Franklin Home For The Aged Association
Franklin Home For The Aged Association (EIN: 20202330) is a nonprofit organization based in Franklin, NH, classified under NTEE code L222. The organization reported total revenue of $5.7M and total assets of $24.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Home For The Aged Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Franklin Home For The Aged Association with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Franklin Home For The Aged Association allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officer salaries were paid, which is highly unusual for an organization of this size with assets exceeding $24 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Franklin Home For The Aged Association's IRS 990 filings:
- Expenses exceeding revenue in recent periods (2023 and 2022)
- Liabilities ($26,838,614) exceeding assets ($26,649,387) in the latest filing (2023)
- Significant fluctuations in annual revenue and expenses
- Unusually high asset growth accompanied by a substantial increase in liabilities
Strengths
The following positive indicators were identified for Franklin Home For The Aged Association:
- Consistent reporting of 0% officer compensation, indicating strong commitment to mission over executive pay
- Significant growth in assets over the long term, from $2.6M in 2011 to $26.6M in 2023
- Long history of IRS 990 filings (10 filings), indicating transparency in reporting
Frequently Asked Questions about Franklin Home For The Aged Association
Is Franklin Home For The Aged Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Franklin Home For The Aged Association (EIN: 20202330) some concerns. Mission Score: 75/100. 4 red flags identified, 3 strengths noted.
How does Franklin Home For The Aged Association spend its money?
Franklin Home For The Aged Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franklin Home For The Aged Association tax-deductible?
Franklin Home For The Aged Association is registered as a tax-exempt nonprofit (EIN: 20202330). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Franklin Home For The Aged Association financially stable?
The organization's financial stability appears to be under pressure, with expenses exceeding revenue in the latest two reported periods (2023 and 2022). In 2023, expenses were $5,259,191 against revenue of $3,895,451, and liabilities ($26,838,614) exceeded assets ($26,649,387), which raises concerns about long-term solvency.
How has the organization's asset base changed over time?
The organization's assets have grown dramatically from $2,637,940 in 2011 to $26,649,387 in 2023, indicating substantial growth in its resource base, likely through capital investments or donations.
What is the trend in revenue versus expenses?
While there have been periods of surplus, such as in 2021 ($3,298,443 revenue vs. $2,684,996 expenses), the most recent filings for 2023 and 2022 show expenses significantly outpacing revenue, suggesting a recent operational deficit.
Does the organization pay its officers?
According to all available IRS 990 filings, the organization reports 0% officer compensation, meaning no salaries were paid to its officers during these periods.
Filing History
IRS 990 filing history for Franklin Home For The Aged Association showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Franklin Home For The Aged Association's revenue has grown by 77.9%, moving from $2.2M to $3.9M. Total assets increased by 910.2% over the same period, from $2.6M to $26.6M. Total functional expenses rose by 136.1%, from $2.2M to $5.3M. In its most recent filing year (2023), Franklin Home For The Aged Association reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $26.8M in liabilities against $26.6M in assets (debt-to-asset ratio: 100.7%), resulting in net assets of $-189,227.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.9M | $5.3M | $26.6M | $26.8M | — | — |
| 2022 | $1.8M | $3.8M | $25.2M | $24.1M | — | View 990 |
| 2021 | $3.3M | $2.7M | $22.0M | $18.7M | — | View 990 |
| 2020 | $2.5M | $2.5M | $23.1M | $20.3M | — | — |
| 2019 | $2.9M | $2.5M | $3.8M | $1.2M | — | — |
| 2015 | $2.3M | $2.4M | $2.8M | $173K | — | View 990 |
| 2014 | $2.5M | $2.5M | $2.8M | $82K | — | View 990 |
| 2013 | $2.5M | $2.3M | $2.8M | $144K | — | View 990 |
| 2012 | $2.0M | $2.1M | $2.5M | $92K | — | View 990 |
| 2011 | $2.2M | $2.2M | $2.6M | $129K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.9M, expenses of $5.3M, and assets of $26.6M (revenue +115.2% year-over-year).
- 2022: Revenue of $1.8M, expenses of $3.8M, and assets of $25.2M (revenue -45.1% year-over-year).
- 2021: Revenue of $3.3M, expenses of $2.7M, and assets of $22.0M (revenue +32.8% year-over-year).
- 2020: Revenue of $2.5M, expenses of $2.5M, and assets of $23.1M (revenue -13.3% year-over-year).
- 2019: Revenue of $2.9M, expenses of $2.5M, and assets of $3.8M (revenue +24.1% year-over-year).
- 2015: Revenue of $2.3M, expenses of $2.4M, and assets of $2.8M (revenue -7.9% year-over-year).
- 2014: Revenue of $2.5M, expenses of $2.5M, and assets of $2.8M (revenue -0.5% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.3M, and assets of $2.8M (revenue +25.8% year-over-year).
- 2012: Revenue of $2.0M, expenses of $2.1M, and assets of $2.5M (revenue -8.5% year-over-year).
- 2011: Revenue of $2.2M, expenses of $2.2M, and assets of $2.6M.
Data Sources and Methodology
This transparency report for Franklin Home For The Aged Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.