2023-10-30T16:04:06-05:00 2023-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-07-01 043235190 BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION INC BENJ 5085413434 500 FINANCIAL PARK FRANKLIN MA 02038 EDWARD BASILE PRESIDENT 5085413434 2023-10-27 1 EDWARD BASILE XXX-XX-XXXX 1 JOHN BUCKLEY CPA P00830631 5083669100 2023-10-27 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z EDWARD BASILE 500 FINANCIAL PARK FRANKLIN MA 02038 27919832 0 X N/A X 1994 MA FOUNDATION WAS FORMED TO PROVIDE SUPPORT FOR THE MISSION OF THE SCHOOL THROUGH UNDERTAKING A CAPITAL CAMPAIGN TO SECURE LAND AND A BUILDING FOR A PERMANENT FACILITY AND THROUGH CAPITAL INVESTMENTS IN THE SCHOOL'S LIBRARY AND OTHER ACADEMIC ENRICHMENT PROGRAMS. X 4 4 0 4 0 0 2200 135 2217085 915283 372 619064 0 0 2219657 1534482 2000 0 0 0 0 0 0 0 0 2288668 2267443 2290668 2267443 -71011 -732961 60532604 1610 60792164 0 -259560 1610 TO SUPPORT THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL WHICH PROMOTES A CLASSICAL EDUCATION. 0 0 801467 915283 TO PROMOTE THE FINANCIAL WELL-BEING OF THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL. 801467 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 MA X HEATHER ZOLNOWSKI 5085413434 500 FINANCIAL PARK FRANKLIN MA 02038 X EDWARD BASILE PRESIDENT AND SECRETARY 1.75 X X 0 0 0 JASON FINE BOARD MEMBER 1.75 X 0 0 0 HEATHER ZOLNOWSKI BOARD MEMBER 1.75 X 0 0 0 JOE PERNA BOARD MEMBER 1.75 X 0 0 0 0 0 0 0 0 0 0 CTA CONSTRUCTIONS MANAGERS LLC 400 TOTTEN POND ROAD 2ND FLOOR WALTHAM MA 02451 CONSTRUCTION SERVICE 138069 1 135 135 RENTAL INCOME 532000 915283 915283 915283 803 803 27003611 26385350 618261 618261 618261 1534482 915283 0 619064 565027 565027 236440 236440 LOSS ON CANCELLATION OF 1455483 1455483 MISCELLANEOUS 10493 10493 2267443 801467 1465976 0 119058 1610 652217 10000 0 26621790 33129539 0 60532604 1610 24143 31699766 24360418 1824105 2883732 0 60792164 0 X -259560 1610 -259560 1610 60532604 1610 X -732961 994131 X X 0 1 X 1 0 X 64185 24581 285 2200 135 91386 64185 24581 285 2200 135 91386 3205 88181 211266 33830 2074 372 803 248345 339731 7608116 0.25960 0.26390 X BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION, INC. (THE "FOUNDATION") QUALIFIES AS A PUBLICLY SUPPORTED ORGANIZATION BECAUSE IT COMFORTABLY SATISFIES THE FACTS AND CIRCUMSTANCES TEST, PURSUANT TO TREAS. REG. 1.170A-9(F)(3). TEN-PERCENT SUPPORT LIMITATION: THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE FOR FISCAL YEAR 2023 WAS APPROXIMATELY 26%. ATTRACTION OF PUBLIC SUPPORT: THE FOUNDATION IS ORGANIZED AND OPERATED TO ATTRACT NEW AND ADDITIONAL PUBLIC SUPPORT ON A CONTINUOUS BASIS DUE TO ITS PUBLIC CHARITABLE MISSION. THE FOUNDATION IS ORGANIZED AND OPERATED TO SUPPORT BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL, A MASSACHUSETTS PUBLIC CHARTER SCHOOL (THE "SCHOOL"). THE SCHOOL IS A PUBLIC INSTITUTION WHICH SERVED 863 STUDENTS DURING FISCAL YEAR 2023 CHOSEN BY RANDOM PUBLIC LOTTERY. DUE TO ITS RELATIONSHIP WITH THE SCHOOL, THE FOUNDATION IS ALSO SUBJECT TO PUBLIC OVERSIGHT; ITS FINANCIALS ARE COMBINED WITH THE SCHOOL'S FINANCIALS, AND ARE SUBMITTED TO THE MASSACHUSETTS DEPARTMENT OF ELEMENTARY AND SECONDARY EDUCATION ON AN ANNUAL BASIS.CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITATION OF FUNDS: THE FOUNDATION'S FUNDRAISING ACTIVITIES INCLUDED AN EVENT AND SOLICITATIONS FOR THE CONSTRUCTION OF ITS NEW GYM AND PLAYGROUND. THE FOUNDATION INVITED POTENTIAL DONORS TO VISIT THE SCHOOL AND TO ATTEND BOTH SPECIAL CULTIVATION EVENTS AND ROUTINE SCHOOL EVENTS. THE FOUNDATION HAD INITIATED A CAPITAL CAMPAIGN THAT WAS EXPECTED TO ATTRACT NEW DONORS AND CONTINUE TO INCREASE PUBLIC SUPPORT OVER THE NEXT FEW YEARS. PERCENTAGE OF FINANCIAL SUPPORT: AS SHOWN IN THE 2020 AND 2021 TAX RETURNS, THE PUBLIC SUPPORT PERCENTAGE FOR THE FOUNDATION WAS APPROXIMATELY 26% AND 26%, RESPECTIVELY. THE FOUNDATION EXPECTS ITS PUBLIC SUPPORT PERCENTAGE TO CONTINUE TO EXCEED 10% BY A SIGNIFICANT MARGIN IN THE FUTURE. THE MAIN REASON WHY THE PUBLIC SUPPORT PERCENTAGE IS BELOW 33 1/3% IS DUE TO INTEREST INCOME EARNED ON TAX EXEMPT BONDS DURING THE CONSTRUCTION PERIOD.SOURCES OF SUPPORT: MOVING FORWARD, THE FOUNDATION EXPECTED TO RECEIVE FEWER FUNDS FROM REVENUE SOURCES THAT DO NOT QUALIFY AS PUBLIC SUPPORT AND EXPECTS TO RECEIVE A GREATER PERCENTAGE OF ITS REVENUE FROM GIFTS, GRANTS, AND CONTRIBUTIONS. REPRESENTATIVE GOVERNING BODY: THE FOUNDATION'S BOARD OF DIRECTORS REPRESENTS THE BROAD INTERESTS OF THE PUBLIC, RATHER THAN THE PERSONAL OR PRIVATE INTERESTS OF A LIMITED NUMBER OF DONORS. BUILDING AND LAND 2022-11-08 26385350 BOOK VALUE OF THE BUILDING AND LAND 562393622 BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL 500 FINANCIAL PARK FRANKLIN MA 02038 CHARTER SCHOOL 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE FOUNDATION'S AUDIT FIRM. THE COMPLETED COPY IS MADE AVAILABLE TO AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12 THE FOUNDATION REGULARLY MONITORS CONFLICTS OF INTEREST THROUGH BOARD MEETING REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION IS INCLUDED IN THE ANNUAL AUDIT OF THE BENJAMIN FRANKLIN CLASSICAL PUBLIC CHARTER SCHOOL'S AUDIT FILED WITH THE COMMONWEALTH OF MASSACHUSETTS AND IS AVAILABLE UPON REQUEST. OTHER GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP AGREEMENT 994,131. FORM 990, PART VII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.