Since 1902, Franklin University has been a pioneer in meeting the needs of adult students who have the ambition to continue their education in combination with other responsibilities, receiving its status as a tax exempt organization in 1964. As a learner-centered institution of higher education, the four cornerstones of the Franklin educational philosophy are (a) Ensuring academic quality (b) Providing equal access to educational opportunities (c) Adapting to the needs of students (d) Responding to changes in society, professions, and the business community. Franklin continuously seeks and appreciates strategic partner relationships that support our learning environment and experiences of our students. Investments from strategic partners may include contributions for student scholarships as well as contributions to enhance program offerings, facilities, and technology.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$7.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $3.4M a year · 4% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$7.6M
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $91.6M in investments, Pt X · Ln 11–13
Fine: 0.3 months of spending in cash, plus $91.6M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$26.6M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$81.6M
Spent
$86.3M
To programs
86%
Net assets
$107.0M
By yearFY2020–FY2025
Revenue
$81.6M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$81.6M
FY2021$78.0M
FY2022$89.9M
FY2023$87.7M
FY2024$94.7M
FY2025$112.0M
Expenses
$86.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$86.3M
FY2021$72.6M
FY2022$88.0M
FY2023$88.5M
FY2024$89.2M
FY2025$99.1M
Net assets
$107.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$107.0M
FY2021$123.7M
FY2022$108.6M
FY2023$108.3M
FY2024$117.0M
FY2025$127.1M

From the FY2020 Form 990 (year ending July 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1966.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $74.4M Management & general 14% · $12.1M Fundraising 0% · $117K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

66 people listed on the 990; $7.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$993,139Pt VII · Sec A
$812,107Pt VII · Sec A
SVP Global Programs & Strategic Initiatives
$380,369Pt VII · Sec A
Vice President, Marketing
$367,095Pt VII · Sec A
Provost and Svp-Academic Affairs
$326,427Pt VII · Sec A
SVP Global Programs & Strategic Initiatives
$321,689Pt VII · Sec A
Provost and Svp-Academic Affairs
$316,323Pt VII · Sec A
Treasurer/Svp-Chief Financial Officer
$297,240Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr David R Decker$956,585$1,378,789$988,171$819,583$812,107$812,107
Christi Farley-Cabungcal$388,867$368,944$308,637$293,429$296,510$296,510
Dr Christopher Washington$381,590$369,620$331,999$323,958$326,427$326,427
Dr Godfrey Mendes$375,861$364,133$326,609$318,176$321,689$321,689
Linda Steele—————$367,095
Dr Marv Briskey$347,463$337,349$294,519$296,929$297,240$297,240
Rick Sunderman$347,222$336,320$311,666$299,314$282,773$282,773
Dr Lynnette Rouzer$320,480$300,403$242,263$250,352——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Franklin University executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides high-quality, relevant education to help diverse learners achieve goals and enrich the world.

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4 programs · $146.3M · in their own filed words · FY2019
01

Franklin University served 7,981 unique students in the 2019-20 Academic Year, granting 46 Associate's degrees, 982 Bachelor's degrees, 629 Master's degrees, 11 Doctoral degrees, and 8 graduate certificates. Franklin has a total of 100 academic program offerings (86 undergraduate, 9 graduate, 3 doctorate, and 2 graduate certificates).

$55.5Mprogram expense
02

Franklin University served 7,981 unique students in the 2019-20 Academic Year, granting 46 Associate's degrees, 982 Bachelor's degrees, 629 Master's degrees, 11 Doctoral degrees, and 8 graduate certificates. Franklin has a total of 100 academic program offerings (86 undergraduate, 9 graduate, 3 doctorate, and 2 graduate certificates).

$55.2Mprogram expense
03

Urbana University served 1,399 unique students in the 2019-20 Academic Year, granting 58 Bachelor's degrees and 5 Master's degrees. Urbana University had 24 undergraduate programs (21 bachelors and 3 associates) and 3 graduate programs.

$17.8Mprogram expense
04

Urbana University served 1,399 unique students in the 2019-20 Academic Year, granting 58 Bachelor's degrees and 5 Master's degrees. Urbana University had 24 undergraduate programs (21 bachelors and 3 associates) and 3 graduate programs.

$17.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$10K
Grants paid · 32 grants · $84.7M · 2019–2024
Unitemized GrantFY2024$10,724,200
Unitemized GrantFY2024$2,247,862
Unitemized GrantFY2024$429,018
Unitemized GrantFY2024$143,822
Unitemized GrantFY2023$6,933,144
Unitemized GrantFY2023$5,716,117
Unitemized GrantFY2023$420,105
Unitemized GrantFY2023$48,585
Unitemized GrantFY2022$11,921,587
Unitemized GrantFY2022$3,708,484
Unitemized GrantFY2022$500,512
Unitemized GrantFY2022$44,680
Unitemized GrantFY2021$11,585,578
Unitemized GrantFY2021$2,834,925
Unitemized GrantFY2021$1,452,019
Unitemized GrantFY2021$425,003
Unitemized GrantFY2021$80,736
Unitemized GrantFY2020$2,043,147
See all 32 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$81.6M
Ln 12
Fees for servicesLn 2g$68.3M
Investment incomeLn 3$9.6M
Gifts and grantsLn 1h$3.6M
Money outPt IX
$86.3M
Ln 25
Programscol B$74.4M
Managementcol C$12.1M
Fundraisingcol D$117K
Owns and owesPt X
$107.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$133.6M
LiabilitiesLn 26$26.6M
PeoplePt VI, VII
66
listed · VII A
PaidVII A24
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.6M
Government grantsLn 1e$1.7M
Fees for servicesLn 2g$68.3M
Investment incomeLn 3$9.6M
Other incomeLn 4–11$49K
Total revenueLn 12$81.6M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$2.4M
Total assetsLn 16$133.6M
LiabilitiesLn 26$26.6M
Net assetsLn 32$107.0M
OperationsPt I, VI
EmployeesI 51,297
VolunteersI 621
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $112.0M$99.1M$12.9M$127.1M 990 PDF
FY2024Filed with the IRS Jun 9, 2025 $94.7M$89.2M$5.5M$117.0M 990 PDF
FY2023Filed with the IRS Jun 12, 2024 $87.7M$88.5M−$831K$108.3M 990 PDF
FY2022Filed with the IRS May 31, 2023 $89.9M$88.0M$1.9M$108.6M 990 PDF
FY2021Filed with the IRS Jun 13, 2022 $78.0M$72.6M$5.4M$123.7M 990 PDF
FY2020 ViewingFiled with the IRS May 18, 2022 $81.6M$86.3M−$4.8M$107.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2020 990 (1 part)
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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