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The Franklin Institute
The Franklin Institute reported $51.2 million in revenue and $34.6 million in expenses for calendar year 2024. Of every $100 it spent, $84.64 went to program services, $10.05 to management and general costs and $5.31 to fundraising. Its largest source of revenue was contributions and grants: 49.4% of the total. Government grants made up 9.5%. The highest compensation it reported for one person was $1,063,589 (PRESIDENT & CEO). 26 people received more than $100,000 in reportable compensation. Revenue rose 7% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $35MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $51MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.6% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.1% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 5.3% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.07 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 49.4% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 9.5% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 41.6% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $1,063,589 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.08% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 26 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 69.7 | 36.6 |
| Independent voting board members Part VI 1a–1b | 46 of 47 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseEducational programs, services & grants: completing its 32nd year in 2024, the partners for achieving careers in technology and science (pacts) program is one of the region's oldest and most comprehensive science immersion programs for middle school students. Pacts served 87 students from area public schools during the 2023-2024 school year. In its 24th year, the institute's STEM scholars program, a concentrated program of high school students who show high interest in and aptitude for STEM fields, served 82 students. Pacts and STEM scholars provide students with access to STEM professionals…
Museum admissions & operations: as the most visited museum in the commonwealth and a top-five tourist destination in the city of philadelphia, the Franklin Institute serves as both a prominent education and cultural resource, and as an anchor of the local economy. In 2024, the institute welcomed 640,000 visitors to the museum, including 177,300 free and discounted visits provided to underserved schools and families through the access program. The Franklin Institute's longstanding reputation helps to elevate the commonwealth and the city of philadelphia as models for cultural and informal…
The journal of the Franklin Institute, the second oldest scholarly journal in continuous publication in the united states, has increased the volume of articles per issue,, as well as the readership. All 199 years of the journal are available online through libraries and research institutions
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 37.50 hrs/week | $997,884 | $0 | $65,705 | $1,063,589 |
| SVP OF SCIENCE & EDUCATION & HR Key employee, 37.50 hrs/week | $312,906 | $0 | $28,293 | $341,199 |
| CHIEF EXPERIENCE & STRATEGY OFFICER Key employee, 37.50 hrs/week | $295,836 | $0 | $29,856 | $325,692 |
| VP EXTERNAL AFFAIRS Officer, 37.50 hrs/week | $273,445 | $0 | $50,016 | $323,461 |
| VP OF BUSINESS OPERATIONS Key employee, 37.50 hrs/week | $215,034 | $0 | $46,153 | $261,187 |
| VP MKT COMM. & DIGITAL MED Officer, 37.50 hrs/week | $227,153 | $0 | $27,174 | $254,327 |
| VP OF OPERATIONS Key employee, 37.50 hrs/week | $196,614 | $0 | $45,233 | $241,847 |
| DIRECTOR OF IT Highest compensated employee, 37.50 hrs/week | $164,155 | $0 | $43,389 | $207,544 |
26 people received more than $100,000 in reportable compensation from The Franklin Institute (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b47 · 46 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5222
- Volunteers Part I, line 678
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| ABM INDUSTRY GROUPS LLC Janitorial | $1,011,129 |
| LEVY PREMIUM FOODSERVICE LP Catering & food service | $549,101 |
| HARVARD PROTECTION SERVICES LLC Security services | $511,714 |
| NCONTEXT LLC Advertising | $414,300 |
| UNIVERSAL PROTECTON SVC LP Security services | $409,946 |
Individuals listed as contractors are left out. 23 contractors were paid more than $100,000 in all.
Private foundation grants it received
83 private foundations reported grants to The Franklin Institute totaling $4.5M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Franklin Institute's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Franklin Institute, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Franklin Institute spent in 2024, $84.64 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Twin Cities Public TelevisionSaint Paul, MN · revenue $51M · programs 73.4% · FY2025
- Pittsburgh SymphonyPittsburgh, PA · revenue $51M · programs 85.3% · FY2025
- The San Diego Symphony Orchestra AssociationSan Diego, CA · revenue $51M · programs 77.8% · FY2025
- The Cici and Hyatt Brown Museum of Art Science & HistoryDaytona Beach, FL · revenue $52M · programs 66.1% · 2025
- Window to the World CommunicationsChicago, IL · revenue $50M · programs 66.9% · FY2025
All arts, culture & humanities charities · Largest charities in Pennsylvania
Questions people ask
How much of The Franklin Institute's spending goes to programs?
In calendar year 2024, The Franklin Institute reported that 84.6% of its $34.6 million in expenses went to program services, 10.1% to management and general and 5.3% to fundraising (Form 990, Part IX).
How much does The Franklin Institute pay its top executive?
The largest total compensation The Franklin Institute reported for one person in calendar year 2024 was $1,063,589, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Franklin Institute get its money?
Of $51.2 million in revenue in calendar year 2024, 49.4% came from contributions and grants (including 9.5% from government grants) and 41.6% from program service revenue (Form 990, Part VIII).
Is The Franklin Institute a registered charity?
The IRS lists EIN 23-1370501 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202523109349301972 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423139349303407 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313149349303621 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233139349301323 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143149349303219 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003119349301405 · read the filing
All filings for EIN 23-1370501: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.