Franklin Lakes Board Of Education Foundation Inc
Franklin Lakes Board Of Education Foundation: Strong Program Spending, Limited Transparency
EIN: 222799772 · Franklin Lks, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $324K |
| Total Expenses | $205K |
| Program Spending | 88% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $214K |
| Transparency Score | 75/100 |
Is Franklin Lakes Board Of Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin Lakes Board Of Education Foundation Inc directs 88% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Franklin Lakes Board Of Education Foundation Inc
Franklin Lakes Board Of Education Foundation Inc (EIN: 222799772) is a nonprofit organization based in Franklin Lks, NJ. The organization reported total revenue of $324K and total assets of $215K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Lakes Board Of Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Franklin Lakes Board Of Education Foundation Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $181K |
| Total Expenses | $205K |
| Surplus / Deficit | $-23,923 |
| Total Assets | $215K |
| Total Liabilities | $2K |
| Net Assets | $214K |
| Operating Margin | -13.2% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 12.6 months |
Financial Health Grade: B
In 2023, Franklin Lakes Board Of Education Foundation Inc reported a deficit of $24K with expenses exceeding revenue, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Franklin Lakes Board Of Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +37.8% | +151.4% | -12.3% |
| 2022 | +116.2% | +1.5% | +30.6% |
| 2021 | -24.3% | +180.4% | -16.5% |
| 2020 | -41.1% | -82.2% | +17.9% |
| 2019 | -16.6% | +21.0% | +5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Franklin Lakes Board Of Education Foundation Inc 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: 12%
- programs: 88%
- fundraising: 0%
According to IRS 990 filings, Franklin Lakes Board Of Education Foundation Inc allocates its expenses as follows: admin: 12%, programs: 88%, fundraising: 0%. With 88% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led organization.
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 Lakes Board Of Education Foundation Inc's IRS 990 filings:
- Lack of detailed program descriptions or impact reports on their website.
- Limited online presence for transparency beyond required IRS filings.
Strengths
The following positive indicators were identified for Franklin Lakes Board Of Education Foundation Inc:
- Consistently high percentage of expenses dedicated to programs (e.g., 88% in 2023).
- Zero reported executive compensation, suggesting volunteer leadership.
- Healthy asset base relative to annual expenses.
Frequently Asked Questions about Franklin Lakes Board Of Education Foundation Inc
Is Franklin Lakes Board Of Education Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Franklin Lakes Board Of Education Foundation Inc (EIN: 222799772) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Franklin Lakes Board Of Education Foundation Inc spend its money?
Franklin Lakes Board Of Education Foundation Inc directs 88% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franklin Lakes Board Of Education Foundation Inc tax-deductible?
Franklin Lakes Board Of Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222799772). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Franklin Lakes Board Of Education Foundation Inc CEO make?
Franklin Lakes Board Of Education Foundation Inc's highest-compensated officer earns $0 annually. The organization reported $324K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Franklin Lakes Board Of Education Foundation Inc located?
Franklin Lakes Board Of Education Foundation Inc is headquartered in Franklin Lks, New Jersey and files with the IRS under EIN 222799772.
How many years of IRS 990 filings does Franklin Lakes Board Of Education Foundation Inc have?
Franklin Lakes Board Of Education Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $324K in total revenue.
What does Franklin Lakes Board Of Education Foundation Inc do?
Franklin Lakes Board Of Education Foundation Inc is a nonprofit organization in the Unknown sector, located in Franklin Lks, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Franklin Lakes Board Of Education Foundation Inc have?
Franklin Lakes Board Of Education Foundation Inc reported total revenue of $324,313. Based on 13 IRS 990 filings on record.
What are Franklin Lakes Board Of Education Foundation Inc's total assets?
Franklin Lakes Board Of Education Foundation Inc holds total assets of $215,385 as reported in IRS 990 filings.
Where is Franklin Lakes Board Of Education Foundation Inc located?
Franklin Lakes Board Of Education Foundation Inc is based in Franklin Lks, New Jersey.
What is Franklin Lakes Board Of Education Foundation Inc's EIN?
Franklin Lakes Board Of Education Foundation Inc's Employer Identification Number (EIN) is 222799772. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Franklin Lakes Board Of Education Foundation Inc?
Franklin Lakes Board Of Education Foundation Inc is classified under NTEE code Unknown (Unknown).
Is Franklin Lakes Board Of Education Foundation Inc a registered 501(c)(3)?
Franklin Lakes Board Of Education Foundation Inc appears in IRS records (EIN: 222799772). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Franklin Lakes Board Of Education Foundation Inc file IRS Form 990?
Yes, Franklin Lakes Board Of Education Foundation Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Franklin Lakes Board Of Education Foundation Inc's revenue in 2023?
In the 202306 filing period, Franklin Lakes Board Of Education Foundation Inc reported total revenue of $180,965, total expenses of $204,888, and net assets of $215,385.
Is Franklin Lakes Board Of Education Foundation Inc's revenue growing or declining?
Franklin Lakes Board Of Education Foundation Inc's revenue is growing. Revenue went from $131,311 (202206) to $180,965 (202306), a +37.8% change. Based on 13 filings on record.
What is Franklin Lakes Board Of Education Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Franklin Lakes Board Of Education Foundation Inc covers tax period 202306. It shows revenue of $180,965, expenses of $204,888, total assets of $215,385, and liabilities of $1,509.
How much does Franklin Lakes Board Of Education Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Franklin Lakes Board Of Education Foundation Inc allocates approximately 88% of expenses to program services, 12% to administrative costs, and 0% to fundraising. This indicates strong program focus.
Is Franklin Lakes Board Of Education Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Franklin Lakes Board Of Education Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Franklin Lakes Board Of Education Foundation Inc?
The following concerns were identified: Lack of detailed program descriptions or impact reports on their website.. Limited online presence for transparency beyond required IRS filings.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Franklin Lakes Board Of Education Foundation Inc's strengths?
Positive indicators for Franklin Lakes Board Of Education Foundation Inc include: Consistently high percentage of expenses dedicated to programs (e.g., 88% in 2023).. Zero reported executive compensation, suggesting volunteer leadership.. Healthy asset base relative to annual expenses.. These findings are derived from AI analysis of the organization's financial filings.
How does Franklin Lakes Board Of Education Foundation Inc compensate executives?
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led organization. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Franklin Lakes Board Of Education Foundation Inc?
- Financial statements are available through public filings, but detailed program breakdowns are not readily accessible on a dedicated website. - The organization's website lacks a clear 'About Us' or 'Financials' section for easy public access to governance and financial documents. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the foundation ensure its program spending directly benefits students and schools without detailed program descriptions?
While the filings show high program spending, the absence of specific program details on their website makes it difficult for external stakeholders to understand the direct impact and beneficiaries of these funds.
Given the volunteer leadership, what mechanisms are in place for board oversight and strategic planning to ensure long-term sustainability and impact?
The filings do not provide insight into governance structures or strategic planning processes. For a volunteer-led organization, robust board engagement and clear strategic direction are crucial for sustained effectiveness.
Filing History
IRS 990 filing history for Franklin Lakes Board Of Education Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Franklin Lakes Board Of Education Foundation Inc's revenue has grown by 39.3%, moving from $130K to $181K. Total assets decreased by 29.5% over the same period, from $305K to $215K. Total functional expenses rose by 16.1%, from $176K to $205K. In its most recent filing year (2023), Franklin Lakes Board Of Education Foundation Inc reported a deficit of $24K, with expenses exceeding revenue. The organization holds $2K in liabilities against $215K in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $214K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $181K | $205K | $215K | $2K | — | View 990 |
| 2022 | $131K | $81K | $246K | $8K | — | View 990 |
| 2021 | $61K | $80K | $188K | $0 | — | View 990 |
| 2020 | $80K | $29K | $225K | $17K | — | — |
| 2019 | $136K | $161K | $191K | $35K | — | View 990 |
| 2018 | $164K | $133K | $181K | $0 | — | View 990 |
| 2017 | $116K | $250K | $255K | $105K | — | — |
| 2016 | $157K | $246K | $284K | $0 | — | View 990 |
| 2015 | $166K | $104K | $373K | $0 | — | View 990 |
| 2014 | $142K | $140K | $312K | $0 | — | View 990 |
| 2013 | $231K | $227K | $310K | $42K | — | View 990 |
| 2012 | $278K | $243K | $349K | $0 | — | View 990 |
| 2011 | $130K | $176K | $305K | $35K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $181K, expenses of $205K, and assets of $215K (revenue +37.8% year-over-year).
- 2022: Revenue of $131K, expenses of $81K, and assets of $246K (revenue +116.2% year-over-year).
- 2021: Revenue of $61K, expenses of $80K, and assets of $188K (revenue -24.3% year-over-year).
- 2020: Revenue of $80K, expenses of $29K, and assets of $225K (revenue -41.1% year-over-year).
- 2019: Revenue of $136K, expenses of $161K, and assets of $191K (revenue -16.6% year-over-year).
- 2018: Revenue of $164K, expenses of $133K, and assets of $181K (revenue +41.0% year-over-year).
- 2017: Revenue of $116K, expenses of $250K, and assets of $255K (revenue -26.2% year-over-year).
- 2016: Revenue of $157K, expenses of $246K, and assets of $284K (revenue -5.1% year-over-year).
- 2015: Revenue of $166K, expenses of $104K, and assets of $373K (revenue +16.8% year-over-year).
- 2014: Revenue of $142K, expenses of $140K, and assets of $312K (revenue -38.7% year-over-year).
- 2013: Revenue of $231K, expenses of $227K, and assets of $310K (revenue -16.7% year-over-year).
- 2012: Revenue of $278K, expenses of $243K, and assets of $349K (revenue +113.6% year-over-year).
- 2011: Revenue of $130K, expenses of $176K, and assets of $305K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Franklin Lakes Board Of Education Foundation Inc:
Data Sources and Methodology
This transparency report for Franklin Lakes Board Of Education Foundation Inc 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.