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Franklin & Marshall College

EIN 23-1352635 · Lancaster, PA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair66 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

FRANKLIN & MARSHALL COLLEGE IS A RESIDENTIAL COLLEGE DEDICATED TO EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION. ITS AIMS ARE TO INSPIRE IN YOUNG PEOPLE OF HIGH PROMISE AND DIVERSE BACKGROUNDS A GENUINE AND ENDURING LOVE FOR LEARNING, TO TEACH THEM TO READ, WRITE, AND THINK CRITICALLY, TO INSTILL IN THEM THE CAPACITY FOR BOTH INDEPENDENT AND COLLABORATIVE ACTION, AND TO EDUCATE THEM TO EXPLORE AND UNDERSTAND THE NATURAL, SOCIAL, AND CULTURAL WORLDS IN WHICH THEY LIVE. IN SO DOING, THE COLLEGE SEEKS TO FOSTER IN ITS STUDENTS QUALITIES OF INTELLECT, CREATIVITY, AND CHARACTER, THAT THEY MAY LIVE FULFILLING LIVES AND CONTRIBUTE MEANINGFULLY TO THEIR OCCUPATIONS, THEIR COMMUNITIES, AND THEIR WORLD.

Income
$199.4 million
Spending
$194.7 million
Spent on programs
76%
Reserves
1.6 months of spending
Largest source of income
fees for its services, 77%
Employees
1,936
Volunteers
1,120
Highest pay
$1.0 million, president

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 66 out of 100. Higher than 58% of charities in its peer group (education, over $100m).

  • Reserves

    10 of 35

    Spendable reserves would cover 1.6 months of spending.

  • Debt

    16 of 20

    It owes 22% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 2% of income.

  • Income trend

    10 of 15

    Income fell 1% on the year before.

  • Spending floor

    15 of 15

    76% of spending went to programs and raising each dollar of donations cost 35 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 41% of charities in its peer group (education, over $100m).

  • Independent board

    25 of 25

    35 of 36 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $63.8 million spent. FINANCIAL AID: THE COLLEGE COMMITS TO MEETING 100% OF EVERY STUDENT'S INSTITUTIONALLY DETERMINED FINANCIAL NEED FOR ALL FOUR YEARS OF THEIR EDUCATION. THE COLLEGE PROVIDES FINANCIAL AID TO 86% OF OUR STUDENTS, ALLOWING THE COLLEGE TO RECRUIT EXTRAORDINARY TALENT FROM ALL BACKGROUNDS. THE CLASS OF 2028 ENROLLED 477 STUDENTS WITH AN AVERAGE SAT SCORE OF 1379.
  2. $37.0 million spent. INSTRUCTION: THROUGH A DISTINCTIVELY EXPERIENTIAL LIBERAL ARTS MODEL, F&M OFFERS 52 FIELDS OF STUDY IN A SUPPORTIVE, DYNAMIC ENVIRONMENT. WITH A 9:1 STUDENT TO FACULTY RATIO, THE COLLEGE'S 1,857 FULL-TIME, UNDERGRADUATE STUDENTS HAVE THE OPPORTUNITY TO COLLABORATE DIRECTLY WITH F&M'S DISTINGUISHED FACULTY, WHO EARN NUMEROUS NATIONAL AND INTERNATIONAL HONORS, INCLUDING PRESTIGIOUS GRANTS, FELLOWSHIPS, AND CAREER AWARDS. F&M ALSO IS AMONG AN ELITE GROUP OF LIBERAL ARTS COLLEGES THAT MAINTAIN EXCEPTIONAL ACADEMIC STANDARDS, INCLUDING CLASSIFICATION AS A CARNEGIE RESEARCH COLLEGE. F&M STUDENTS LEARN TO BECOME LEADERS AND DEVELOP THE SKILLS THEY NEED TO HANDLE REAL-WORLD CHALLENGES WITH CREATIVITY, AGILITY AND EMPATHY.
  3. $46.6 million spent. STUDENT AND AUXILIARY SERVICES: F&M IS A RESIDENTIAL CAMPUS THAT HOLISTICALLY SUPPORTS STUDENT GROWTH AND SUCCESS. THE STUDENT SUPPORT HUB BRINGS TOGETHER THE MAJORITY OF THE COLLEGE'S STUDENT SUPPORT SERVICES, INCLUDING THE WRITING CENTER, QUANTITATIVE AND SCIENCE CENTER, DIPCARES WELLNESS PROGRAM, FIRST-YEAR ADVISING MENTORS, INTERNATIONAL AND MULTILINGUAL SUPPORT, AND ACCESSIBILITY SERVICES. THE COLLEGE HAS A FULLY INTEGRATED STUDENT WELLNESS CENTER IN PARTNERSHIP WITH PENN MEDICINE LANCASTER GENERAL HEALTH. 33% OF STUDENTS COMPETE IN DIVISION III ATHLETICS ON 28 VARSITY TEAMS. STUDENTS ALSO PARTICIPATE IN MORE THAN 110 ACTIVE STUDENT CLUBS AND ORGANIZATIONS, INCLUDING GREEK LIFE AND DOZENS OF CLUBS AND INTRAMURAL SPORTS TEAMS. ACADEMIC SUPPORT, RESEARCH, PUBLIC SERVICE, AND INSTITUTIONAL SUPPORT ARE ALL CONSIDERED AUXILIARY SERVICES THAT ARE PROVIDED TO STUDENTS THROUGHOUT THEIR COLLEGE CAREERS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1934.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.