You’re viewing the FY2024 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
38 people listed on the 990; $5.1M paid to officers and key staff (Part VII, Section A).
Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$1,378,789Pt VII · Sec A
Provost and Svp-Academic Affairs
$369,620Pt VII · Sec A
Chief of Staff & SVP Administration
$368,944Pt VII · Sec A
SVP Global Programs & Strategic Initiatives
$364,133Pt VII · Sec A
Treasurer/Svp-Chief Financial Officer
$337,349Pt VII · Sec A
SVP and Chief Information Officer
$336,320Pt VII · Sec A
Vp-Strategic Alliances
$301,198Pt VII · Sec A
Vp-Student Affairs
$300,403Pt VII · Sec A
Vp-Campus Services
$266,148Pt VII · Sec A
VP Operations, Franklin Learning Solutions
$258,077Pt VII · Sec A
Vp-Financial Services
$238,723Pt VII · Sec A
Dean, College of Business
$217,007Pt VII · Sec A
Dean Doctoral Studies and Academic Research
$196,881Pt VII · Sec A
Dean, College of Health
$194,703Pt 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
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$0Pt VII · Sec A
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$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
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$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
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$0Pt VII · Sec A
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$0Pt VII · Sec A
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$0Pt VII · Sec A
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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.
1 program · $75.5M · in their own filed words · FY2023
01
Franklin University served 13,377 unique students in the 2023-24 Academic Year, granting 91 Associate's degrees, 1,175 Bachelor's degrees, 877 Master's degrees, 67 Doctoral degrees, and 19 graduate certificates.
Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 31-0707369) · Dispute this line$75.5Mprogram 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 FY2024 990, line by line.
Download 990
1The main four
Money inPt VIII
$94.7M
Ln 12
Fees for servicesLn 2g$85.9M
Investment incomeLn 3$6.9M
Gifts and grantsLn 1h$1.1M
Money outPt IX
$89.2M
Ln 25
Programscol B$75.5M
Managementcol C$13.5M
Fundraisingcol D$142K
Owns and owesPt X
$117.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$143.9M
LiabilitiesLn 26$26.9M
PeoplePt VI, VII
38
listed · VII A
PaidVII A14
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$469K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$85.9M
Investment incomeLn 3$6.9M
Other incomeLn 4–11$765K
Gains on assetsLn 7$4.6M
Total revenueLn 12$94.7M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
Pledges and grants receivableLn 3$403K
Accounts receivableLn 4$6.8M
Notes and loans receivableLn 7$3.0M
Prepaid expenses and deferred chargesLn 9$1.1M
Land, buildings, equipmentLn 10c$20.4M
InvestmentsLn 11–13$110.7M
Other assetsLn 15$321K
Total assetsLn 16$143.9M
LiabilitiesLn 26$26.9M
Net assetsLn 32$117.0M
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
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$553K
Share of the $11.8M endowmentSch D 1g4.7%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
| Line | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| End of yearLn 1g | $11.8M | $10.8M | $10.5M | $10.0M | $8.3M |
| AddedLn 1b | $64K | $222K | $1.3M | $12K | $232K |
| SpentLn 1d–1f | $43K | $123K | $99K | $60K | $37K |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.4M | $1.2M |
| InvestmentsLn 11–13 | $101.1M | $110.7M |
| Land, buildings, equipmentLn 10c | $20.3M | $20.4M |
| Total assetsLn 16 | $133.5M | $143.9M |
| LiabilitiesLn 26 | $25.1M | $26.9M |
| Net assetsLn 32 | $108.3M | $117.0M |
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 | $13.1M | $13.1M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $4.2M | $2.7M | $1.5M | $0 |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $39.1M | $32.6M | $6.5M | $80K |
| Pension plan contributionsLn 8 | $3.1M | $2.6M | $515K | $6K |
| Other employee benefitsLn 9 | $4.6M | $3.8M | $763K | $9K |
| Payroll taxesLn 10 | $3.3M | $2.7M | $539K | $7K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $0 | $0 | $0 | $0 |
| Accounting feesLn 11c | $125K | $0 | $125K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $553K | $0 | $553K | $0 |
| Other fees for servicesLn 11g | $2.8M | $2.3M | $461K | $6K |
| Advertising and promotionLn 12 | $7.3M | $7.3M | $0 | $0 |
| Office expensesLn 13 | $2.6M | $2.2M | $435K | $5K |
| Information technologyLn 14 | $1.9M | $1.6M | $313K | $4K |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $1.7M | $1.2M | $494K | $11K |
| TravelLn 17 | $384K | $320K | $63K | $789 |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $186K | $155K | $31K | $383 |
| InterestLn 20 | $622K | $0 | $622K | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $1.7M | $1.2M | $504K | $11K |
| InsuranceLn 23 | $222K | $185K | $37K | $457 |
| Other expenses (24a–d)Ln 24 | $1.2M | $1.2M | $0 | $0 |
| All other expensesLn 24e | $385K | $332K | $52K | $819 |
| Total functional expensesLn 25 | $89.2M | $75.5M | $13.5M | $142K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Jun 3, 2026 | $112.0M | $99.1M | $12.9M | $127.1M | 990 PDF |
| FY2024 ViewingFiled 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 |
| FY2020Filed with the IRS May 18, 2022 | $81.6M | $86.3M | −$4.8M | $107.0M | 990 PDF |
Schedules filed Part IV
A · Public support
D · Assets and endowments
I · Grants
J · Pay
O · Explanations
See the full FY2024 990
Part I · Summary $94,699,869 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,888,058$1,121,897
I-9 Program service revenuePrior year $80,792,308$85,911,440
I-10 Investment incomePrior year $4,766,818$6,901,933
I-11 Other revenuePrior year $206,007$764,599
I-12 Total revenuePrior year $87,653,191$94,699,869
I-13 Grants and similar amounts paidPrior year $16,175,263$13,117,951
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $50,499,693$54,360,597
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $21,809,275$21,677,902
I-18 Total expensesPrior year $88,484,231$89,156,450
I-19 Revenue less expensesPrior year −$831,040$5,543,419
Part VI · Governance 24 of 24 board members independent, no flags
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
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 $94,699,869 across 15 lines filed
Lines not itemized here account for $1,250,805 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$468,690
VIII-1f All other contributions, gifts and grants$653,207
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,121,897
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $85,360,897 · Unrelated business $0 · Excluded from tax $0$85,360,897
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,311,778$2,311,778
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 $64,337$64,337
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,590,155$4,590,155
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $86,611,702 · Unrelated business $0 · Excluded from tax $6,966,270$94,699,869
Part IX · Statement of functional expenses $89,156,450 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $13,117,951$13,117,951
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $2,722,678 · Management $1,507,081 · Fundraising $0$4,229,759
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $32,585,639 · Management $6,458,045 · Fundraising $80,398$39,124,082
IX-8 Pension plan contributionsPrograms $2,600,930 · Management $515,470 · Fundraising $6,417$3,122,817
IX-9 Other employee benefitsPrograms $3,849,225 · Management $762,866 · Fundraising $9,497$4,621,588
IX-10 Payroll taxesPrograms $2,717,145 · Management $538,502 · Fundraising $6,704$3,262,351
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $124,550 · Fundraising $0$124,550
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $552,701 · Fundraising $0$552,701
IX-11g Other fees for servicesPrograms $2,327,693 · Management $461,318 · Fundraising $5,743$2,794,754
IX-12 Advertising and promotionPrograms $7,329,309 · Management $0 · Fundraising $0$7,329,309
IX-13 Office expensesPrograms $2,193,313 · Management $434,686 · Fundraising $5,412$2,633,411
IX-14 Information technologyPrograms $1,580,415 · Management $313,217 · Fundraising $3,899$1,897,531
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $1,175,170 · Management $493,837 · Fundraising $10,669$1,679,676
IX-17 TravelPrograms $319,822 · Management $63,384 · Fundraising $789$383,995
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $155,239 · Management $30,766 · Fundraising $383$186,388
IX-20 InterestPrograms $0 · Management $621,896 · Fundraising $0$621,896
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $1,198,380 · Management $503,590 · Fundraising $10,879$1,712,849
IX-23 InsurancePrograms $185,174 · Management $36,699 · Fundraising $457$222,330
IX-24 Other expenses (24a–d)Programs $1,153,648 · Management $0 · Fundraising $0$1,153,648
IX-24e All other expensesPrograms $331,608 · Management $52,437 · Fundraising $819$384,864
IX-25 Total functional expensesPrograms $75,543,339 · Management $13,471,045 · Fundraising $142,066$89,156,450
Part X · Balance sheet $143,856,355 assets, 30 lines filed
X-1 Cash, non-interest-bearingStart of year $1,396,868$1,227,730
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $59,728$402,759
X-4 Accounts receivableStart of year $5,319,575$6,757,147
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $4,000,000$3,000,000
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $973,614$1,095,517
X-10c Land, buildings and equipment, netStart of year $20,276,233$20,355,164
X-11 Publicly traded securitiesStart of year $78,226,963$75,306,755
X-12 Other securitiesStart of year $22,920,869$35,390,511
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $297,187$320,772
X-16 Total assetsStart of year $133,471,037$143,856,355
X-17 Accounts payable and accrued expensesStart of year $9,189,290$9,924,727
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,041,851$3,913,031
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-21 Escrow or custodial accountsStart of year $0$0
X-22 Loans from officers and insidersStart of year $0$0
X-23 Secured mortgages and notes payableStart of year $9,890,450$9,034,281
X-24 Unsecured notes and loans payableStart of year $4,000,000$4,000,000
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $25,121,591$26,872,039
X-27 Net assets without donor restrictionsStart of year $98,584,568$106,289,366
X-28 Net assets with donor restrictionsStart of year $9,764,878$10,694,950
X-32 Total net assets or fund balancesStart of year $108,349,446$116,984,316
X-33 Total liabilities and net assetsStart of year $133,471,037$143,856,355
Part XI · Reconciliation of net assets $116,984,316 net assets at year end
XI-1 Total revenue$94,699,869
XI-2 Total expenses$89,156,450
XI-3 Revenue less expenses$5,543,419
XI-4 Net assets at start of year$108,349,446
XI-5 Net unrealized gains (losses) on investments$3,091,451
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$116,984,316
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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