You’re viewing the FY2023 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
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
34 people listed on the 990; $3.9M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$988,171Pt VII · Sec A
Provost and Svp-Academic Affairs
$331,999Pt VII · Sec A
SVP Global Programs & Strategic Initiatives
$326,609Pt VII · Sec A
SVP and Chief Information Officer
$311,666Pt VII · Sec A
Chief of Staff & SVP Administration
$308,637Pt VII · Sec A
Treasurer/Svp-Chief Financial Officer
$294,519Pt VII · Sec A
Vp-Strategic Alliances
$276,380Pt VII · Sec A
Vp-Student Affairs
$242,263Pt VII · Sec A
VP Operations, Franklin Learning Solutions
$241,951Pt VII · Sec A
Vp-Financial Services
$217,705Pt VII · Sec A
Dean Doctoral Studies and Academic Research
$200,080Pt VII · Sec A
Dean, College of Health
$188,549Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| 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 →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.
Questions for Franklin University
Your first name shows with your question. Franklin University answers here, for everyone.
2 programs · $74.8M · in their own filed words · FY2022
01
Franklin University served 12,138 unique students in the 2022-23 Academic Year, granting 85 Associate's degrees, 1,569 Bachelor's degrees, 647 Master's degrees, 42 Doctoral degrees, and 19 graduate certificates.
$73.1Mprogram expense
02
The Franklin University mission includes providing high quality, relevant education to enable the broadest possible community of learners to achieve their goals and enrich the world. To further this goal, Franklin offers program design and development services to higher education institutions seeking to expand and improve the quality of…
$1.7Mprogram 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
Ruth M Hughes Scholarship TrustFY2025$7K
Clapper Scholarship FundFY2025$2K
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
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jul 2025 · $85.4M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$66.2M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$18.7M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$429K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$78K
Teacher Education Assistance for College and Higher Education Grants (teach Grants)Department of Education · ALN 84.379 · Direct$41K
The auditor reported no findings.
Year ending Jul 2024 · $70.4M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$56.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$13.5M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$420K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$66K
Teacher Education Assistance for College and Higher Education Grants (teach Grants)Department of Education · ALN 84.379 · Direct$30K
The auditor reported no findings.
Year ending Jul 2023 · $57.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$46.3M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$10.3M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$501K
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$144K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$44K
Plus 1 smaller program.
The auditor reported no findings.
Year ending Jul 2022 · $54.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$41.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$8.5M
Covid-19 - Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$3.7M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$524K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$425K
Plus 2 smaller programs.
The auditor reported no findings.
By the numbers
The FY2023 990, line by line.
Download 990
1The main four
Money inPt VIII
$87.7M
Ln 12
Fees for servicesLn 2g$80.8M
Investment incomeLn 3$4.8M
Gifts and grantsLn 1h$1.9M
Money outPt IX
$88.5M
Ln 25
Programscol B$74.8M
Managementcol C$13.5M
Fundraisingcol D$136K
Owns and owesPt X
$108.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$133.5M
LiabilitiesLn 26$25.1M
PeoplePt VI, VII
34
listed · VII A
PaidVII A12
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Government grantsLn 1e$1.0M
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$80.8M
Investment incomeLn 3$4.8M
Other incomeLn 4–11$206K
Gains on assetsLn 7$2.4M
Total revenueLn 12$87.7M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$0
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$101.1M
Land, buildings, equipmentLn 10c$20.3M
Other assetsLn 15$297K
Total assetsLn 16$133.5M
LiabilitiesLn 26$25.1M
Net assetsLn 32$108.3M
OperationsPt I, VI
EmployeesI 51,297
VolunteersI 621
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
| Line | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| End of yearLn 1g | $10.8M | $10.5M | $10.0M | $8.3M | $7.2M |
| Given inLn 1b | $222K | $1.3M | $12K | $232K | $43K |
| SpentLn 1d–1f | $123K | $99K | $60K | $37K | $62K |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.2M | $1.4M |
| InvestmentsLn 11–13 | $101.6M | $101.1M |
| Land, buildings, equipmentLn 10c | $26.9M | $20.3M |
| Total assetsLn 16 | $138.4M | $133.5M |
| LiabilitiesLn 26 | $29.7M | $25.1M |
| Net assetsLn 32 | $108.6M | $108.3M |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $16.2M | $16.2M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $3.4M | $2.2M | $1.2M | $0 |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $37.2M | $31.0M | $6.2M | $77K |
| Pension plan contributionsLn 8 | $2.7M | $2.2M | $445K | $6K |
| Other employee benefitsLn 9 | $4.5M | $3.7M | $743K | $9K |
| Payroll taxesLn 10 | $2.8M | $2.3M | $458K | $6K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $334K | $0 | $334K | $0 |
| Accounting feesLn 11c | $122K | $0 | $122K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $514K | $0 | $514K | $0 |
| Other fees for servicesLn 11g | $3.2M | $2.3M | $932K | $6K |
| Advertising and promotionLn 12 | $7.0M | $7.0M | $0 | $0 |
| Office expensesLn 13 | $2.4M | $2.0M | $403K | $5K |
| Information technologyLn 14 | $1.8M | $1.5M | $295K | $4K |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $1.8M | $1.2M | $679K | $11K |
| TravelLn 17 | $268K | $221K | $47K | $548 |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $132K | $110K | $22K | $272 |
| InterestLn 20 | $467K | $0 | $467K | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $1.9M | $1.3M | $545K | $12K |
| InsuranceLn 23 | $205K | $154K | $51K | $381 |
| Other expenses (24a–d)Ln 24 | $1.3M | $1.3M | $0 | $0 |
| All other expensesLn 24e | $369K | $307K | $61K | $762 |
| Total functional expensesLn 25 | $88.5M | $74.8M | $13.5M | $136K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| 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 |
| FY2023 ViewingFiled 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 |
| FY2020Filed with the IRS May 18, 2022 | $81.6M | $86.3M | −$4.8M | $107.0M | 990 PDF |
Schedules filed Part IV
III · Programs
R · Related orgs
G · Fundraising
L · Interested persons
I · Grants
A · Public support
J · Pay
O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $87,653,191 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,632,227$1,888,058
I-9 Program service revenuePrior year $73,188,695$80,792,308
I-10 Investment incomePrior year $10,041,417$4,766,818
I-11 Other revenuePrior year $86,558$206,007
I-12 Total revenuePrior year $89,948,897$87,653,191
I-13 Grants and similar amounts paidPrior year $16,378,260$16,175,263
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $49,723,806$50,499,693
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $21,904,134$21,809,275
I-18 Total expensesPrior year $88,006,200$88,484,231
I-19 Revenue less expensesPrior year $1,942,697−$831,040
Part VI · Governance 22 of 22 board members independent, no flags
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
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
Part VIII · Statement of revenue $87,653,191 across 15 lines filed
Lines not itemized here account for $1,867,473 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$1,043,857
VIII-1f All other contributions, gifts and grants$844,201
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,888,058
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $79,148,871 · Unrelated business $0 · Excluded from tax $0$79,148,871
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,394,238$2,394,238
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax −$18,029−$18,029
VIII-7 Net gain or loss on sales of assetsRelated to mission $2,034,772 · Unrelated business $0 · Excluded from tax $337,808$2,372,580
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $83,051,116 · Unrelated business $0 · Excluded from tax $2,714,017$87,653,191
Part IX · Statement of functional expenses $88,484,231 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $16,175,263$16,175,263
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $2,154,100 · Management $1,219,445 · Fundraising $0$3,373,545
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $30,957,493 · Management $6,170,187 · Fundraising $76,787$37,204,467
IX-8 Pension plan contributionsPrograms $2,231,571 · Management $444,778 · Fundraising $5,535$2,681,884
IX-9 Other employee benefitsPrograms $3,726,509 · Management $742,736 · Fundraising $9,243$4,478,488
IX-10 Payroll taxesPrograms $2,297,660 · Management $457,950 · Fundraising $5,699$2,761,309
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $333,533 · Fundraising $0$333,533
IX-11c Accounting feesPrograms $0 · Management $122,150 · Fundraising $0$122,150
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $514,116 · Fundraising $0$514,116
IX-11g Other fees for servicesPrograms $2,293,999 · Management $931,823 · Fundraising $5,690$3,231,512
IX-12 Advertising and promotionPrograms $6,995,736 · Management $0 · Fundraising $0$6,995,736
IX-13 Office expensesPrograms $1,988,112 · Management $402,956 · Fundraising $4,931$2,395,999
IX-14 Information technologyPrograms $1,477,284 · Management $294,740 · Fundraising $3,664$1,775,688
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $1,159,765 · Management $679,404 · Fundraising $10,529$1,849,698
IX-17 TravelPrograms $220,956 · Management $46,763 · Fundraising $548$268,267
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $109,740 · Management $21,872 · Fundraising $272$131,884
IX-20 InterestPrograms $0 · Management $467,049 · Fundraising $0$467,049
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $1,297,691 · Management $545,323 · Fundraising $11,781$1,854,795
IX-23 InsurancePrograms $153,542 · Management $50,786 · Fundraising $381$204,709
IX-24 Other expenses (24a–d)Programs $1,294,772 · Management $0 · Fundraising $0$1,294,772
IX-24e All other expensesPrograms $307,347 · Management $61,258 · Fundraising $762$369,367
IX-25 Total functional expensesPrograms $74,841,540 · Management $13,506,869 · Fundraising $135,822$88,484,231
Part X · Balance sheet $133,471,037 assets, 24 lines filed
Asset lines not itemized here account for $4,000,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,227,331$1,396,868
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $88,514$59,728
X-4 Accounts receivableStart of year $3,485,087$5,319,575
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $1,193,112$973,614
X-10c Land, buildings and equipment, netStart of year $26,930,872$20,276,233
X-11 Publicly traded securitiesStart of year $80,810,628$78,226,963
X-12 Other securitiesStart of year $20,764,222$22,920,869
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $3,887,863$297,187
X-16 Total assetsStart of year $138,387,629$133,471,037
X-17 Accounts payable and accrued expensesStart of year $7,625,006$9,189,290
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,063,738$2,041,851
X-20 Tax-exempt bond liabilitiesStart of year $13,057,191$0
X-24 Unsecured notes and loans payableStart of year $7,000,000$4,000,000
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $29,745,935$25,121,591
X-27 Net assets without donor restrictionsStart of year $99,026,570$98,584,568
X-28 Net assets with donor restrictionsStart of year $9,615,124$9,764,878
X-32 Total net assets or fund balancesStart of year $108,641,694$108,349,446
X-33 Total liabilities and net assetsStart of year $138,387,629$133,471,037
Part XI · Reconciliation of net assets $108,349,446 net assets at year end
XI-1 Total revenue$87,653,191
XI-2 Total expenses$88,484,231
XI-3 Revenue less expenses−$831,040
XI-4 Net assets at start of year$108,641,694
XI-5 Net unrealized gains (losses) on investments$538,792
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$108,349,446
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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