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Franklin Institute

EIN 23-1370501 · Philadelphia, PA

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

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY.

Income
$51.2 million
Spending
$34.6 million
Spent on programs
85%
Reserves
6.2 months of spending
Largest source of income
fees for its services, 42%
Employees
222
Volunteers
78
Highest pay
$1.1 million, president & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 74% of charities in its peer group (arts and culture, $10m to $100m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.2 months of spending.

  • Debt

    20 of 20

    It owes 11% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 32% of income.

  • Income trend

    15 of 15

    Income rose 29% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 7 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 34% of charities in its peer group (arts and culture, $10m to $100m).

  • Independent board

    25 of 25

    46 of 47 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 December 31, 2024, 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 (4)
  1. $3.7 million spent. EDUCATIONAL 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, AS WELL AS COLLEGE EDUCATIONAL PROGRAMS AND SERVICES, APPLICATION AND FINANCIAL AID COUNSELING, EXPOSURE TO STEM CAREERS, AND ANNUAL ROBOTICS PROGRAMS. THESE TWO PROGRAMS DELIVER UNIQUE STEM PROGRAMMING TO A DIVERSE AUDIENCE.THE FRANKLIN INSTITUTE ALSO DEVELOPS MODEL PROGRAMS IN SCIENCE LEARNING FOR THE K-12 EDUCATION COMMUNITY THAT ARE DELIVERED BOTH INSIDE AND OUTSIDE THE MUSEUM WALLS, INCLUDING SCIENCE IN THE SUMMER AND MISSION2MARS WHICH SERVED 46,200 PARTICIPANTS ACROSS 21 STATES.
  2. $17.8 million spent. 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 EDUCATION EXCELLENCE. THE INSTITUTE WELCOMES VISITORS OF ALL AGES TO EXPLORE SCIENCE IN INTERACTIVE EXHIBITS AND PUBLIC PROGRAMS. THE INSTITUTE REMAINS FULLY COMMITTED TO PROVIDING AN EXCEPTIONAL EXPERIENCE FOR ITS MANY VISITORS AND INCREASING SERVICE TO ITS AUDIENCE, EXTENDING THE INSTITUTE'S MISSION- TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY-TO CHILDREN AND FAMILIES THROUGHOUT GREATER PHILADELPHIA, REGARDLESS OF MEANS, REMAINS, AS ALWAYS, AT THE HEART OF ITS PRIORITIES. IT DOES SO THROUGH OUTSTANDING EXHIBITS AND MANY EDUCATION AND OUTREACH PROGRAMS
  3. $1.5 million spent. 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.
  4. $6.3 million spent. INTEREST AND DEPRECIATION EXPENSE NOT INCLUDED ABOVE.INTEREST $292,659DEPRECIATION $5,989,816

Source: Form 990 for the year ending December 31, 2024, 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 October 13, 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 December 2024.

    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 1928.

    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 October 21, 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.