Franklin Homestead Inc

Nonprofit profile at a glance

EIN
030323491
IRS 990 coverage
2016–2025
Forms available
Form 990 2025
Location
Franklin, VT, USA
Phone
8022852944
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$823,328
Expenses
$682,565
Assets
$2,011,220
Liabilities
$800,808

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JAY HARTMAN (PRESIDENT)
  • PATRICIA WHITTEMORE (VICE PRESIDENT)

Highest reported compensation

  • STACY SILLOWAY (MANAGER): $59,400 total reported compensation
  • JEAN RICHARD (TREASURER): $22,059 total reported compensation
  • ANNE FLEMING (DIRECTOR): $8,190 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide and promote affordable, safe and convenient housing for citizens fifty-five and over.

What it reported doing in 2025

To provide affordable senior housing

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 62
  • Sustainability: 59
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 70%; rating input score 70; 18th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 2.95; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 83.7% of spending went to programs
  • Governance: 7 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $571K in reported program spending
  • Leadership: top reported pay $59K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.