Downtown Franklin Association

Nonprofit profile at a glance

EIN
260011687
IRS 990-EZ coverage
2021–2023
Forms available
Form 990 2020, Form 990-EZ 2023
Location
Franklin, VA, USA
Phone
7573045515
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$393
Expenses
$45,391
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • VICTOR STORY (PRESIDENT)

People named in this filing

  • VICTOR STORY (PRESIDENT)
  • JACKIE NEWSOME (VICE-PRESIDE)
  • BENETA COFIELD (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the historic district of franklin, va from an economic and aesthetic standpoint.

What it reported doing in 2023

Enhance the unique visual quality of downtown franklin, va by addressing all design elements to create an appealing environment.

Operating model

Revenue model
Investment-supported. 75% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 82
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 40%; rating input score 40

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -11,449.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -37.5% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -12.6% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -7.8% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 40% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 4 filed program accomplishments · $18K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.