THE FRANKLIN ACADEMY INC
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$8,634,571
Property, Plant, & Equipment (net)
93%
Cash & Equivalents
3%
Receivables (Non-Related)
2%
Other Assets
2%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Investments
0%
Liabilities in 2024 (Year End)
$11,549,147
Notes Payable / Debt (Non-Related)
74%
Deferred Revenue
19%
Payables & Accruals
4%
Related-Party Payables
1%
Other Liabilities
1%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$693,285
$270,620
-61%
Receivables (Non-Related)
$242,521
$195,480
-19%
Related-Party Receivables
-
-
-
Inventories
$40
$57
+43%
Prepaid Expenses
$85,474
$38,906
-54%
Investments
-
-
-
Property, Plant, & Equipment (net)
$8,096,619
$7,988,893
-1%
Other Assets
$41,376
$140,615
+240%
Total Assets
$9,159,315
$8,634,571
-6%
Liabilities
2023
2024
Change
Payables & Accruals
$208,609
$497,794
+139%
Grants Payable
-
-
-
Deferred Revenue
$2,697,600
$2,245,981
-17%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$8,586,140
$8,532,007
-1%
Related-Party Payables
-
$150,000
-
Other Liabilities
$21,126
$123,365
+484%
Total Liabilities
$11,513,475
$11,549,147
+0%
Net assets
2023
2024
Change
Restricted Net Assets
$92,413
$15,770
-83%
Unrestricted Net Assets
-$2,446,573
-$2,930,346
-20%
Net assets
2023
2024
Change
Net assets
-$2,354,160
-$2,914,576
-24%
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