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Franklin Housing Collaborative

Tax-deductible

Franklin, TN501(c)(3)HousingEIN 47-0901382Revenue $1.7M in FY2024

On file with the IRS200 Spring St, 37064-3337 · Franklin, TNTax-exempt since Aug 2004Publicly supported charity — 170(b)(1)(A)(vi)

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Our mission is to promote affordable/workforce Housing to various income levels and provide assistance to low-income individuals to impart better life, social, economic and personal skills to foster self-improvement and self-sufficiency through education, instruction and guidance

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Run by 15 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
3 of 5
filings with a surplus
Average surplus $127K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
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
$1.7M
+35% vs prior year
Spent
$2.2M
To programs
85%
Net assets
$3.8M
By yearFY2020–FY2024
Revenue
$1.7M
FY2024▲ +35%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$1.2M
FY2022$1.2M
FY2023$1.3M
FY2024$1.7M
Expenses
$2.2M
FY2024▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2020$817K
FY2021$1.2M
FY2022$1.2M
FY2023$1.5M
FY2024$2.2M
Net assets
$3.8M
FY2024▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.1M
FY2021$3.0M
FY2022$3.3M
FY2023$3.0M
FY2024$3.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2004.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $1.9M Management & general 15% · $316K

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
Darlene Morton
Vice-Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Black
Chairman
$0Pt VII · Sec A
Bob Barrett
Director
$0Pt VII · Sec A
Donnell Lane
Director
$0Pt VII · Sec A
Derwin Jackson
President/CEO
$0Pt VII · Sec A

Derwin Jackson’s $55K as President/CEO is at the 8th percentile of top reported officer pay among 2037 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Franklin Housing Collaborative 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 15aNo

Programs and updates

Builds affordable housing and teaches life skills for self-sufficiency.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2024
01

To promote AFFORDABLE/WORKFORCE housing to various income levels and provide assistance to low-income individuals to impart better life, social, economic and personal skills to foster self-improvement and self-sufficiency through education, instruction and guidance.

$1.9Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Fees for servicesLn 2g$1.6M
Gifts and grantsLn 1h$62K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.9M
Managementcol C$316K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$80K
Total assetsLn 16$5.4M
LiabilitiesLn 26$1.6M
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$62K
Fees for servicesLn 2g$1.6M
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$80K
Cash and savings togetherLn 1–2$80K
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$1.0M
Total assetsLn 16$5.4M
LiabilitiesLn 26$1.6M
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$252K$80K
Land, buildings, equipmentLn 10c$1.9M$2.6M
Total assetsLn 16$4.1M$5.4M
LiabilitiesLn 26$1.1M$1.6M
Net assetsLn 32$3.0M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$1.4M$1.2M$211K$0
Legal feesLn 11b$11K$10K$2K$0
Accounting feesLn 11c$41K$35K$6K$0
Investment management feesLn 11f$238K$202K$36K$0
Office expensesLn 13$42K$36K$6K$0
Information technologyLn 14$3K$2K$397$0
TravelLn 17$14K$6K$8K$0
InterestLn 20$41K$41K$0$0
Depreciation, depletion and amortizationLn 22$99K$84K$15K$0
InsuranceLn 23$54K$46K$8K$0
Other expenses (24a–d)Ln 24$221K$197K$24K$0
Total functional expensesLn 25$2.2M$1.9M$316K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.7M$2.2M−$474K$3.8M 990 PDF
FY2023 $1.3M$1.5M−$220K$3.0M 990 PDF
FY2022 $1.2M$1.2M$13K$3.3M 990 PDF
FY2021 $1.2M$1.2M$43K$3.0M 990 PDF
FY2020 $2.1M$817K$1.3M$3.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,694,553 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $48,223$62,191
I-9 Program service revenuePrior year $1,208,168$1,632,362
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $1,256,391$1,694,553
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,476,185$2,168,826
I-18 Total expensesPrior year $1,476,185$2,168,826
I-19 Revenue less expensesPrior year −$219,794−$474,273
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $1,694,553 across 4 lines filed
Lines not itemized here account for $26,095 of total revenue; see the IRS return.
VIII-1d Related organizations$62,191
VIII-1h Total contributions, gifts and grants$62,191
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,606,267
VIII-12 Total revenueRelated to mission $1,632,362 · Unrelated business $0 · Excluded from tax $0$1,694,553
Part IX · Statement of functional expenses $2,168,826 across 11 lines filed
IX-11a Management feesPrograms $1,194,729 · Management $210,835 · Fundraising $0$1,405,564
IX-11b Legal feesPrograms $9,593 · Management $1,693 · Fundraising $0$11,286
IX-11c Accounting feesPrograms $34,765 · Management $6,135 · Fundraising $0$40,900
IX-11f Investment management feesPrograms $202,314 · Management $35,703 · Fundraising $0$238,017
IX-13 Office expensesPrograms $35,612 · Management $6,285 · Fundraising $0$41,897
IX-14 Information technologyPrograms $2,252 · Management $397 · Fundraising $0$2,649
IX-17 TravelPrograms $5,656 · Management $8,483 · Fundraising $0$14,139
IX-20 InterestPrograms $40,527 · Management $0 · Fundraising $0$40,527
IX-22 Depreciation, depletion and amortizationPrograms $83,940 · Management $14,813 · Fundraising $0$98,753
IX-23 InsurancePrograms $46,150 · Management $8,144 · Fundraising $0$54,294
IX-24 Other expenses (24a–d)Programs $197,051 · Management $23,749 · Fundraising $0$220,800
IX-25 Total functional expensesPrograms $1,852,589 · Management $316,237 · Fundraising $0$2,168,826
Part X · Balance sheet $5,425,015 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $252,178$80,223
X-4 Accounts receivableStart of year $991,106$1,686,449
X-9 Prepaid expenses and deferred chargesStart of year $35,319$5,668
X-10c Land, buildings and equipment, netStart of year $1,928,893$2,644,857
X-15 Other assetsStart of year $913,350$1,007,818
X-16 Total assetsStart of year $4,120,846$5,425,015
X-17 Accounts payable and accrued expensesStart of year $207,933$124,140
X-19 Deferred revenueStart of year $31,245$4,170
X-25 Other liabilitiesStart of year $111,052$781,414
X-26 Total liabilitiesStart of year $1,105,629$1,606,980
X-27 Net assets without donor restrictionsStart of year $3,015,217$3,818,035
X-32 Total net assets or fund balancesStart of year $3,015,217$3,818,035
X-33 Total liabilities and net assetsStart of year $4,120,846$5,425,015
Part XI · Reconciliation of net assets $3,818,035 net assets at year end
XI-1 Total revenue$1,694,553
XI-2 Total expenses$2,168,826
XI-3 Revenue less expenses−$474,273
XI-4 Net assets at start of year$3,015,217
XI-9 Other changes in net assets$1,277,091
XI-10 Net assets at end of year$3,818,035

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

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