Franklin Square Foundation
Franklin Square Foundation maintains strong assets but has experienced recent operating deficits.
EIN: 10746539 · Evanston, IL · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $603K |
| Total Expenses | $222K |
| Program Spending | 70% |
| Net Assets | $1.9M |
| Transparency Score | 75/100 |
Is Franklin Square Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franklin Square Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Franklin Square Foundation
Franklin Square Foundation (EIN: 10746539) is a nonprofit organization based in Evanston, IL, classified under NTEE code T20. The organization reported total revenue of $603K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Square Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Franklin Square Foundation is a small nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $124K |
| Total Expenses | $222K |
| Surplus / Deficit | $-98,199 |
| Total Assets | $1.9M |
| Total Liabilities | $1 |
| Net Assets | $1.9M |
| Operating Margin | -79.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 104.7 months |
Financial Health Grade: B
In 2023, Franklin Square Foundation reported a deficit of $98K with expenses exceeding revenue, holds 104.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Franklin Square Foundation's revenue has declined at a compound annual growth rate (CAGR) of -0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -33.7% | +1.1% | -4.8% |
| 2022 | -46.4% | -15.2% | -1.6% |
| 2021 | +2.2% | -5.2% | +4.5% |
| 2020 | -16.1% | +5.9% | +3.5% |
| 2019 | +102.0% | +43.3% | +18.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Square Foundation 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Franklin Square Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $98K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be entirely volunteer-based or compensated through non-officer roles, which enhances efficiency but could obscure full leadership costs.
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 Square Foundation's IRS 990 filings:
- Expenses exceeding revenue in recent years (e.g., 2023 expenses $222,153 vs. revenue $123,954)
- Significant year-over-year revenue fluctuations, indicating potential instability in funding sources.
Strengths
The following positive indicators were identified for Franklin Square Foundation:
- Strong and growing asset base ($1,938,029 in 2023, up from $1,544,174 in 2011).
- Minimal liabilities ($1 across all reported periods), indicating excellent financial health.
- Consistent IRS 990 filing history over a decade, demonstrating transparency and compliance.
- 0% reported officer compensation, suggesting efficient use of funds or volunteer leadership.
Frequently Asked Questions about Franklin Square Foundation
Is Franklin Square Foundation a legitimate charity?
Franklin Square Foundation (EIN: 10746539) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $603K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Franklin Square Foundation spend its money?
Franklin Square Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Franklin Square Foundation tax-deductible?
Franklin Square Foundation is registered as a tax-exempt nonprofit (EIN: 10746539). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Franklin Square Foundation's spending goes to programs?
Franklin Square Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Franklin Square Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Franklin Square Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Franklin Square Foundation located?
Franklin Square Foundation is headquartered in Evanston, Illinois and files with the IRS under EIN 10746539. It is classified under NTEE code T20.
How many years of IRS 990 filings does Franklin Square Foundation have?
Franklin Square Foundation has 10 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 $603K in total revenue.
Is Franklin Square Foundation financially sustainable given recent deficits?
While the organization has substantial assets ($1,938,029 in 2023) that can cover short-term deficits, the trend of expenses exceeding revenue in recent years (e.g., $222,153 expenses vs. $123,954 revenue in 2023) suggests a need to address operational sustainability to avoid long-term asset depletion.
How does Franklin Square Foundation fund its operations without officer compensation?
The consistent reporting of 0% officer compensation indicates that the organization's executive leadership may be volunteer-based, or their compensation is categorized differently within the IRS 990, which would contribute to lower administrative overhead.
What is the primary source of Franklin Square Foundation's revenue?
Based on the provided data, revenue fluctuates significantly year-to-year (e.g., $123,954 in 2023 vs. $406,799 in 2019), suggesting reliance on varied funding streams, potentially including grants, donations, or investment income, which would require further detail from the full 990 forms to ascertain.
Filing History
IRS 990 filing history for Franklin Square Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Franklin Square Foundation's revenue has declined by 9.8%, moving from $137K to $124K. Total assets increased by 25.5% over the same period, from $1.5M to $1.9M. Total functional expenses rose by 10.8%, from $200K to $222K. In its most recent filing year (2023), Franklin Square Foundation reported a deficit of $98K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $124K | $222K | $1.9M | $1 | — | — |
| 2022 | $187K | $220K | $2.0M | $1 | — | View 990 |
| 2021 | $348K | $259K | $2.1M | $1 | — | View 990 |
| 2020 | $341K | $273K | $2.0M | $1 | — | — |
| 2019 | $407K | $258K | $1.9M | $1 | — | View 990 |
| 2015 | $201K | $180K | $1.6M | $1 | — | View 990 |
| 2014 | $204K | $149K | $1.6M | $1 | — | View 990 |
| 2013 | $163K | $149K | $1.5M | $1 | — | View 990 |
| 2012 | $144K | $158K | $1.5M | $1 | — | View 990 |
| 2011 | $137K | $200K | $1.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $124K, expenses of $222K, and assets of $1.9M (revenue -33.7% year-over-year).
- 2022: Revenue of $187K, expenses of $220K, and assets of $2.0M (revenue -46.4% year-over-year).
- 2021: Revenue of $348K, expenses of $259K, and assets of $2.1M (revenue +2.2% year-over-year).
- 2020: Revenue of $341K, expenses of $273K, and assets of $2.0M (revenue -16.1% year-over-year).
- 2019: Revenue of $407K, expenses of $258K, and assets of $1.9M (revenue +102.0% year-over-year).
- 2015: Revenue of $201K, expenses of $180K, and assets of $1.6M (revenue -1.4% year-over-year).
- 2014: Revenue of $204K, expenses of $149K, and assets of $1.6M (revenue +25.1% year-over-year).
- 2013: Revenue of $163K, expenses of $149K, and assets of $1.5M (revenue +13.6% year-over-year).
- 2012: Revenue of $144K, expenses of $158K, and assets of $1.5M (revenue +4.6% year-over-year).
- 2011: Revenue of $137K, expenses of $200K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Franklin Square Foundation:
Data Sources and Methodology
This transparency report for Franklin Square Foundation 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.