Friends of Franklin

Overview

Mission

The friends of franklin foundation's primary program is to fundraise for the benefit and support of advocate for academic excellence in education, inc. (aaee), which operates benjamin franklin high school.

What it reported doing in 2024

The ultimate goal is to nurture existing relationships with alumni, parents, past parents and grandparents, foundations, and other current donors while also exploring new avenues for fundraising opportunities. The friends of franklin foundation will help benjamin franklin high school to be more strategic, intentional, and efficient in fundraising efforts and the management of funds, as well as more authentic in relationship-building with donors and prospects.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
832479067
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Headquarters
New Orleans, LA, USA
Phone
5042862600
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.8%; rating input score 38
  • Program expense ratio: 48.5%; rating input score 48
  • Fundraising efficiency: $6.48 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.6%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 2.17; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 34.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 16.8% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 37.4% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 44.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 37.8% of revenue deployed · 48.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $469K in reported program spending
  • Leadership: top reported pay $238K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 annual filings from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

11 people listed

Highest reported compensation

  • ALEXANDER JARRELL (CEO): $238,276 total reported compensation
  • ANDREA PERKINS (CFO): $175,716 total reported compensation
  • JOHN PARAUKA (COORD. OF STUDENT & ALUMNI SERVICES): $150,387 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.