Franklin Fellows FY2024 filing

Tax-deductible

Franklin, TN501(c)(3)Youth DevelopmentEIN 92-3227020Revenue $178K in FY2024

On file with the IRSfranklinfellows.com1215 Hillsboro Rd, 37069-4642 · Franklin, TNTax-exempt since Sep 2023Publicly supported charity — 170(b)(1)(A)(vi)

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The Franklin Fellows Program exists to help young professionals explore their vocational calling, grow holistically as leaders, and build meaningful careers that promote thriving and flourishing in their community.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$93K 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

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
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
2 of 2
filings with a surplus
Average surplus $15K a year · 9% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$93K
to officers and key staff · 62% of spending
Concern: pay to officers and key staff is 62% of spending; over 30%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $48K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$38K
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 10 voting members
Concern: none of 10 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$178K
+317% vs prior year
Spent
$151K
To programs
100%
Net assets
$59K
By yearFY2023–FY2025
Revenue
$178K
FY2024▲ +317%
Tap a bar for its year
Revenue by fiscal year
FY2023$43K
FY2024$178K
FY2025$184K
Expenses
$151K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2023Not on file
FY2024$151K
FY2025$180K
Net assets
$59K
FY2024▲ +85%
Tap a bar for its year
Net assets by fiscal year
FY2023$32K
FY2024$59K
FY2025$63K

From the FY2024 Form 990 · see the original

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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 Sep 2023.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $151K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $93K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$93,333Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Chris Musgrove’s $111K as Executive Director is at the 91st percentile of top reported officer pay among 1993 $100K–1M youth development 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.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Chris Musgrove$111,375$93,333$8,333

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.

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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

Helps young professionals discover their calling, grow as leaders, and build careers that benefit their community.

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Provided by the organization

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1 program · $151K · in their own filed words · FY2024
01

Through 9 months of work, study, community, and service, we develop participants personally, professionally, and spiritually while growing their imaginations for how God uses their everyday work to bring about goodness and blessing to the city.

$151Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$48K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$178K
Ln 12
Gifts and grantsLn 1h$134K
Fees for servicesLn 2g$38K
Other incomeLn 4–11$7K
Money outPt IX
$151K
Ln 25
Programscol B$151K
Owns and owesPt X
$59K
net assets · Ln 32
Cash and savingsLn 1–2$83K
Total assetsLn 16$97K
LiabilitiesLn 26$38K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$134K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$7K
Fees for servicesLn 2g$38K
Other incomeLn 4–11$7K
Total revenueLn 12$178K
Assets in detailPt X, end of year
CashLn 1$83K
Cash and savings togetherLn 1–2$83K
Total assetsLn 16$97K
LiabilitiesLn 26$38K
Net assetsLn 32$59K
OperationsPt I, VI
EmployeesI 51
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$32K$83K
Total assetsLn 16$32K$97K
LiabilitiesLn 26$250$38K
Net assetsLn 32$32K$59K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
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$93K$93K
Pay of disqualified personsLn 6$0$0
Other salaries and wagesLn 7$0$0
Pension plan contributionsLn 8$0$0
Other employee benefitsLn 9$0$0
Payroll taxesLn 10$9K$9K
Management feesLn 11a$0$0
Legal feesLn 11b$0$0
Accounting feesLn 11c$0$0
Lobbying feesLn 11d$0$0
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$4K$4K
Conferences, conventions and meetingsLn 19$20K$20K
Other expenses (24a–d)Ln 24$13K$13K$0$0
All other expensesLn 24e$7K$7K
Total functional expensesLn 25$151K$151K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $184K$180K$4K$63K 990 PDF
FY2024 Viewing $178K$151K$27K$59K 990 PDF
FY2023 $43K$32K 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 $178,492 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $42,822$134,207
I-9 Program service revenuePrior year $0$37,725
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$6,560
I-12 Total revenuePrior year $42,822$178,492
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,962$102,473
I-16a Professional fundraising feesPrior year $114$0
I-17 Other expensesPrior year $1,881$48,883
I-18 Total expensesPrior year $10,957$151,356
I-19 Revenue less expensesPrior year $31,865$27,136
Part VI · Governance 0 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $178,492 across 11 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$6,560
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$127,647
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$134,207
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $37,725 · Unrelated business $0 · Excluded from tax $0$37,725
VIII-8 Net income from fundraising eventsUnrelated business $6,560 · Excluded from tax $0$6,560
VIII-12 Total revenueRelated to mission $37,725 · Unrelated business $6,560 · Excluded from tax $0$178,492
Part IX · Statement of functional expenses $151,356 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
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 $93,333$93,333
IX-6 Pay of disqualified personsPrograms $0$0
IX-7 Other salaries and wagesPrograms $0$0
IX-8 Pension plan contributionsPrograms $0$0
IX-9 Other employee benefitsPrograms $0$0
IX-10 Payroll taxesPrograms $9,140$9,140
IX-11a Management feesPrograms $0$0
IX-11b Legal feesPrograms $0$0
IX-11c Accounting feesPrograms $0$0
IX-11d Lobbying feesPrograms $0$0
IX-11f Investment management feesPrograms $0$0
IX-11g Other fees for servicesPrograms $5,519$5,519
IX-12 Advertising and promotionPrograms $3,585$3,585
IX-19 Conferences, conventions and meetingsPrograms $20,083$20,083
IX-24 Other expenses (24a–d)Programs $12,909 · Management $0 · Fundraising $0$12,909
IX-24e All other expensesPrograms $6,787$6,787
IX-25 Total functional expensesPrograms $151,356 · Management $0 · Fundraising $0$151,356
Part X · Balance sheet $96,976 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $32,115$82,591
X-4 Accounts receivable$14,385
X-16 Total assetsStart of year $32,115$96,976
X-17 Accounts payable and accrued expensesStart of year $0$0
X-19 Deferred revenueStart of year $250$37,975
X-26 Total liabilitiesStart of year $250$37,975
X-27 Net assets without donor restrictionsStart of year $31,865$59,001
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $31,865$59,001
X-33 Total liabilities and net assetsStart of year $32,115$96,976
Part XI · Reconciliation of net assets $59,001 net assets at year end
XI-1 Total revenue$178,492
XI-2 Total expenses$151,356
XI-3 Revenue less expenses$27,136
XI-4 Net assets at start of year$31,865
XI-5 Net unrealized gains (losses) on investments$0
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$59,001

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

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