Franklin Simpson Educational Coalition Inc
Franklin Simpson Educational Coalition Inc maintains stable finances with growing assets and no reported liabilities.
EIN: 202540047 · Franklin, KY · NTEE: B99 · Updated: 2026-03-28
Is Franklin Simpson Educational Coalition Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin Simpson Educational Coalition Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Franklin Simpson Educational Coalition Inc
Franklin Simpson Educational Coalition Inc (EIN: 202540047) is a nonprofit organization based in Franklin, KY, classified under NTEE code B99. The organization reported total revenue of $3.0M and total assets of $410K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Simpson Educational Coalition Inc'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 Simpson Educational Coalition Inc with a Mission Score of 88 out of 100 (Excellent). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Franklin Simpson Educational Coalition Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, indicating that executive leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is a positive for resource allocation to programs.
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.
Strengths
The following positive indicators were identified for Franklin Simpson Educational Coalition Inc:
- Consistent zero liabilities across all filings, indicating strong financial health.
- Steady growth in assets from $110,320 in 2017 to $325,835 in 2023.
- Consistent reporting of 0% officer compensation, maximizing funds for programs.
- Expenses generally managed below or close to revenue, demonstrating fiscal responsibility.
- Positive net asset position in all reported periods.
Frequently Asked Questions about Franklin Simpson Educational Coalition Inc
Is Franklin Simpson Educational Coalition Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Franklin Simpson Educational Coalition Inc (EIN: 202540047) appears legitimate. Mission Score: 88/100. 0 red flags identified, 5 strengths noted.
How does Franklin Simpson Educational Coalition Inc spend its money?
Franklin Simpson Educational Coalition Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franklin Simpson Educational Coalition Inc tax-deductible?
Franklin Simpson Educational Coalition Inc is registered as a tax-exempt nonprofit (EIN: 202540047). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based or that compensation is structured in a way that it is not reported under 'officer compensation' on the Form 990. This practice allows more funds to be directed towards programs.
What caused the significant increase in assets from $157,998 in 2019 to $260,830 in 2020?
The substantial increase in assets during this period, despite relatively stable revenue, could be due to significant non-cash contributions, investment gains, or a strategic accumulation of surpluses from prior years. Further investigation into the specific Form 990 for 2020 would be needed to identify the exact cause.
What is the primary source of the organization's revenue, given its fluctuations?
While the provided data shows total revenue, the specific sources (e.g., grants, donations, program service revenue) are not detailed. The fluctuations suggest a reliance on varying funding streams, which could include grants that are not consistent year-to-year or varying levels of public support.
Filing History
IRS 990 filing history for Franklin Simpson Educational Coalition Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Franklin Simpson Educational Coalition Inc's revenue has grown by 992.1%, moving from $15K to $160K. Total assets increased by 195.4% over the same period, from $110K to $326K. Total functional expenses rose by 323.6%, from $34K to $142K. In its most recent filing year (2023), Franklin Simpson Educational Coalition Inc reported a surplus of $18K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $160K | $142K | $326K | $0 | — | — |
| 2022 | $110K | $160K | $308K | $0 | — | — |
| 2021 | $195K | $97K | $358K | $0 | — | View 990 |
| 2020 | $161K | $58K | $261K | $0 | — | — |
| 2019 | $134K | $126K | $158K | $0 | — | View 990 |
| 2018 | $157K | $117K | $150K | $0 | — | View 990 |
| 2017 | $15K | $34K | $110K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $160K, expenses of $142K, and assets of $326K (revenue +45.8% year-over-year).
- 2022: Revenue of $110K, expenses of $160K, and assets of $308K (revenue -43.8% year-over-year).
- 2021: Revenue of $195K, expenses of $97K, and assets of $358K (revenue +21.2% year-over-year).
- 2020: Revenue of $161K, expenses of $58K, and assets of $261K (revenue +19.9% year-over-year).
- 2019: Revenue of $134K, expenses of $126K, and assets of $158K (revenue -14.4% year-over-year).
- 2018: Revenue of $157K, expenses of $117K, and assets of $150K (revenue +970.5% year-over-year).
- 2017: Revenue of $15K, expenses of $34K, and assets of $110K.
Data Sources and Methodology
This transparency report for Franklin Simpson Educational Coalition 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.