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Franklin County Community Foundation

Tax-deductible

Franklin, NE501(c)(3)Foundations & GrantmakersEIN 47-0785730Revenue $74K in FY2024

On file with the IRSPo Box 173, 68939-0173 · Franklin, NETax-exempt since Jun 1995Publicly supported charity — 170(b)(1)(A)(vi)

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To provide a fiscal intermediary that might direct scholarships for the Franklin public schools.

501(c)(3) charity; gifts are tax-deductible.
51¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $2K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
51%
of spending
Worth a look: 51% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
64 mo
of spending, in cash
Looks good: 64.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$495K
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$74K
+130% vs prior year
Spent
$46K
To programs
51%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$74K
FY2024▲ +130%
Tap a bar for its year
Revenue by fiscal year
FY2020$42K
FY2021$63K
FY2022$47K
FY2023$32K
FY2024$74K
Expenses
$46K
FY2024▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$51K
FY2021$54K
FY2022$57K
FY2023$38K
FY2024$46K
Net assets
$1.1M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.0M
FY2023$1.1M
FY2024$1.1M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1995.

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

Where the money goes

51 cents of each dollar spent went to programs.

Program services 51% · $23K Management & general 48% · $22K Fundraising 1% · $462

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Stuart Wilsman
VP (thru Jan)
$0Pt VII · Sec A
Kim Grams
VP (from Jan)
$0Pt VII · Sec A
Shelley Kahrs
Secretary
$0Pt VII · Sec A
Tom Moore
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Franklin County Community Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Facilitates scholarships for Franklin Public Schools.

Questions for Franklin County Community Foundation

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Provided by the organization

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1 program · $23K · in their own filed words · FY2024
01

The foundation holds and manages investments of other institutions, groups, or associations. In connection with donor-restricted stipulations, the foundation administers and provides annual educational scholarships to provide financial support to both graduating high school students and nontraditional students.

$23Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 82 grants · $149K · 2020–2024
Unitemized GrantFY2024$23,302
Unitemized GrantFY2023$21,176
Franklin County Ag SocietyFY2022$5,000
Franklin Senior CenterFY2022$3,500
Golden Years Center (hildreth Senior Center)FY2022$2,500
Franklin Co Historical SocietyFY2022$2,500
Individual RecipientFY2022$2,000
CwfFY2022$2,000
Individual RecipientFY2022$2,000
Individual RecipientFY2022$1,500
Individual RecipientFY2022$1,500
Individual RecipientFY2022$1,250
Individual RecipientFY2022$1,250
Individual RecipientFY2022$1,200
Individual RecipientFY2022$1,100
Franklin County HospitalFY2022$1,000
Individual RecipientFY2022$1,000
Individual RecipientFY2022$1,000
See all 82 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$74K
Ln 12
Investment incomeLn 3$51K
Gifts and grantsLn 1h$23K
Money outPt IX
$46K
Ln 25
Programscol B$23K
Managementcol C$22K
Fundraisingcol D$462
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$246K
Total assetsLn 16$1.6M
LiabilitiesLn 26$495K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Investment incomeLn 3$51K
Gains on assetsLn 7$13K
Total revenueLn 12$74K
Assets in detailPt X, end of year
CashLn 1$246K
Cash and savings togetherLn 1–2$246K
InvestmentsLn 11–13$1.4M
Total assetsLn 16$1.6M
LiabilitiesLn 26$495K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$98K$246K
InvestmentsLn 11–13$1.4M$1.4M
Total assetsLn 16$1.5M$1.6M
LiabilitiesLn 26$379K$495K
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$23K$23K
Legal feesLn 11b$32$32
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$1K$700$300
Advertising and promotionLn 12$58$58
Conferences, conventions and meetingsLn 19$104$104
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$46K$23K$22K$462

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $74K$46K$28K$1.1M 990 PDF
FY2023 $32K$38K−$6K$1.1M 990 PDF
FY2022 $47K$57K−$10K$1.0M 990 PDF
FY2021 $63K$54K$9K$1.2M 990 PDF
FY2020 $42K$51K−$9K$1.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $73,730 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,315$23,073
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $25,802$50,657
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $32,117$73,730
I-13 Grants and similar amounts paidPrior year $21,176$23,302
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $17,164$22,618
I-18 Total expensesPrior year $38,340$45,920
I-19 Revenue less expensesPrior year −$6,223$27,810
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $73,730 across 5 lines filed
VIII-1f All other contributions, gifts and grants$23,073
VIII-1h Total contributions, gifts and grants$23,073
VIII-3 Investment incomeExcluded from tax $37,326$37,326
VIII-7 Net gain or loss on sales of assetsExcluded from tax $13,331$13,331
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $50,657$73,730
Part IX · Statement of functional expenses $45,920 across 8 lines filed
IX-2 Grants to domestic individualsPrograms $23,302$23,302
IX-11b Legal feesManagement $32$32
IX-11c Accounting feesManagement $13,945$13,945
IX-11f Investment management feesManagement $3,942$3,942
IX-11g Other fees for servicesManagement $700 · Fundraising $300$1,000
IX-12 Advertising and promotionFundraising $58$58
IX-19 Conferences, conventions and meetingsFundraising $104$104
IX-24 Other expenses (24a–d)Management $3,537$3,537
IX-25 Total functional expensesPrograms $23,302 · Management $22,156 · Fundraising $462$45,920
Part X · Balance sheet $1,642,265 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $98,255$246,109
X-11 Publicly traded securitiesStart of year $1,380,679$1,396,156
X-16 Total assetsStart of year $1,478,934$1,642,265
X-25 Other liabilitiesStart of year $378,701$494,545
X-26 Total liabilitiesStart of year $378,701$494,545
X-27 Net assets without donor restrictionsStart of year $54,212$66,800
X-28 Net assets with donor restrictionsStart of year $1,046,021$1,080,920
X-32 Total net assets or fund balancesStart of year $1,100,233$1,147,720
X-33 Total liabilities and net assetsStart of year $1,478,934$1,642,265
Part XI · Reconciliation of net assets $1,147,720 net assets at year end
XI-1 Total revenue$73,730
XI-2 Total expenses$45,920
XI-3 Revenue less expenses$27,810
XI-4 Net assets at start of year$1,100,233
XI-5 Net unrealized gains (losses) on investments$19,677
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,147,720

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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