Frankfort Development Trust Inc

Nonprofit profile at a glance

EIN
300857304
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-EZ 2023
Location
Leavenworth, KS, USA
Phone
9136516081
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$134,981
Expenses
$135,211
Assets
$607,024
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Linda Fincham (President)

People named in this filing

  • Linda Fincham (President)
  • Roxanne Tilley (Secretary)
  • David Ferris (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. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Restoration/Revitalization of the Old Frankfort Grade School, an historic structure, that is on the national register of historic places. The building is a four-story structure that has existed for approximately 122 years. The school served the community until 1998, when it was sold to a private party. After about fifteen years of private ownership the building had been abandoned, fallen into disrepair, and was left open to the elements after suffering significant vandalism. The structure was in danger of demotion. The Frankfort Development Trust was formed to as a vehicle to restore and revitalize the building to serve a rural community. The goal is to provide a mix of housing, community space, learning environment, daycare, and historic commemoration in a multi-generational hub atmosphere.

What it reported doing in 2025

Renovation/restoration of the Old Frankfort Grade School. On-going work will provide for a structure that can be utilized by the Frankfort community and surrounding area. This will allow for the revitalization of the structure and promote commerce in the area. Service area is a population of 800-1,000 people. The project is a multi-phased undertaking that is supported by the ongoing activities of the trust. The cost estimate for the project is in the range of $3-4 million. The expenditures in this section reflect the direct costs of restoration of the building, specifically architect fees and services provided by building contractors. During the reporting period work on the second phase of a four-phase window restoration occurred. Previous projects have included replacement of roof structures, restoration of side porticos, asbestos removal, and guttering. The initial goal is to seal the envelope of the structure so interior work can occur. The work has been supported by contributions, fundraising, grants, loans, and state tax credits.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.2%; rating input score 90
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 4.49; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -13% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 32% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 90.2% of revenue deployed · 90% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $122K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 44 of 44 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.