BASIC FUND: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- BASIC FUND (EIN 94-3290699)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-16
- IRS object ID
- 202211369349315216
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-05-16T17:01:53-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 941254756 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOOD & STRONG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 275 BATTERY STREET STE 900 | AddressLine1Txt |
| City | SAN FRANCISCO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94111 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 943290699 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE BASIC FUND | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BASI | BusinessNameControlTxt |
| Phone | 4159865650 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 14TH STREET NO 290 | AddressLine1Txt |
| City | OAKLAND | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94612 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RACHEL ELGINSMITH | PersonNm |
| Person Title | CHIEF EXECUTIVE OFFICER | PersonTitleTxt |
| Phone | 4159865650 | PhoneNum |
| Signature | 2022-05-16 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RACHEL | PersonFirstNm |
| Person Last | ELGINSMITH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MAGA E KISRIEV | PreparerPersonNm |
| PTIN | P01008919 | PTIN |
| Phone | 4157810793 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RACHEL ELGINSMITH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 14TH STREET NO 290 | AddressLine1Txt |
| City | OAKLAND | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94612 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $98,489,174 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.BASICFUND.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1997 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | TO ENHANCE EQUITY BY PROVIDING SCHOLARSHIPS TO LOW INCOME FAMILIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 27 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 27 | VotingMembersIndependentCnt |
| Total Employee | 12 | TotalEmployeeCnt |
| Total Volunteers | 27 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $8,988,126 | PYContributionsGrantsAmt |
| CY Contributions Grants | $9,432,921 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $519,207 | PYInvestmentIncomeAmt |
| CY Investment Income | $204,861 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $9,507,333 | PYTotalRevenueAmt |
| CY Total Revenue | $9,637,782 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $6,246,633 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $7,662,969 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $872,531 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,026,936 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $11,760 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $516,456 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $359,260 | PYOtherExpensesAmt |
| CY Other Expenses | $364,494 | CYOtherExpensesAmt |
| PY Total Expenses | $7,478,424 | PYTotalExpensesAmt |
| CY Total Expenses | $9,066,159 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,028,909 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $571,623 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $23,234,810 | TotalAssetsBOYAmt |
| Total Assets EOY | $23,987,500 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $201,299 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $267,341 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $23,033,511 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $23,720,159 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE BASIC FUND IS A PRIVATELY FUNDED PROGRAM WHOSE MISSION IS TO ADVANCE EDUCATIONAL EQUITY FOR LOW-INCOME FAMILIES BY HELPING OFFSET THE COST OF TUITION AT PRIVATE SCHOOLS IN THE BAY AREA. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $8,395,199 | ExpenseAmt |
| Grant | $7,662,969 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | THE BASIC FUND (THE FUND) IS A PRIVATELY FUNDED PROGRAM DEDICATED TO BROADENING THE EDUCATIONAL EQUITY BY HELPING LOW-INCOME FAMILIES IN ALAMEDA, CONTRA COSTA, MARIN, NAPA, SAN FRANCISCO, SAN MATEO, SANTA CLARA, SOLANO, AND SONOMA COUNTIES AFFORD THE COST OF TUITION AT PRIVATE OR PAROCHIAL SCHOOLS OF THEIR CHOICE. THE SCHOLARSHIPS ARE OFFERED TO STUDENTS IN PRE-KINDERGARTEN THROUGH EIGHTH GRADE. | Desc |
| Total Program Service Expenses | $8,395,199 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 11 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 12 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 27 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 27 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RACHEL ELGINSMITH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4159865650 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 14TH STREET NO 290 | AddressLine1Txt |
| City | OAKLAND | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94612 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| BRIAN GRIGGS | ||||||
| PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| RICHARD C BARKER | ||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| STEVEN S KLEIN | ||||||
| VICE PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| WILLIAM T RING | ||||||
| VICE PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JEREMY PETERS | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBERT G BARRETT | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RICHARD J BERTERO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CRYSTAL BRYANT | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RICHARD CHOW | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JAMES P CONN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN COUCH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KENNETH T DERR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JEFFREY G EDWARDS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JAMES H HERBERT II | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| EDWARD JAMIESON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RUPERT JOHNSON JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN E KERRIGAN JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| THEODORE KRUTTSCHNITT | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MICHAEL MCCARTHY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| EDWARD MCDERMOTT | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| STEPHEN L MILLHAM | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| J WILLIAM MORRIS III | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TIMOTHY RANZETTA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARTIN ROMO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ERIC A SCHWARTZ | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WARREN E SPIEKER JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MICHAEL W WILSEY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RACHEL ELGINSMITH | ||||||
| CHIEF EXECUTIVE OFFICER | 50.00 | Yes (X) | $189,760 | $0 | $0 | |
| CHRISTINE WEISS | ||||||
| CHIEF ADV. OFFICER | 50.00 | Yes (X) | $161,400 | $0 | $678 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $351,160 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $678 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $10,000 | FederatedCampaignsAmt |
| All Other Contributions | $9,422,921 | AllOtherContributionsAmt |
| Noncash Contributions | $505,210 | NoncashContributionsAmt |
| Total Contributions | $9,432,921 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $159,717 | TotalRevenueColumnAmt |
| Exclusion | $159,717 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $88,896,536 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $88,851,392 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $45,144 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $45,144 | TotalRevenueColumnAmt |
| Exclusion | $45,144 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,637,782 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $204,861 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,662,969 | TotalAmt |
| Program Services | $7,662,969 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $356,338 | TotalAmt |
| Program Services | $157,879 | ProgramServicesAmt |
| Management And General | $64,801 | ManagementAndGeneralAmt |
| Fundraising | $133,658 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $551,896 | TotalAmt |
| Program Services | $317,225 | ProgramServicesAmt |
| Fundraising | $234,671 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,906 | TotalAmt |
| Program Services | $29,245 | ProgramServicesAmt |
| Management And General | $3,989 | ManagementAndGeneralAmt |
| Fundraising | $22,672 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,796 | TotalAmt |
| Program Services | $28,861 | ProgramServicesAmt |
| Management And General | $12,456 | ManagementAndGeneralAmt |
| Fundraising | $21,479 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,021 | TotalAmt |
| Management And General | $11,021 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,895 | TotalAmt |
| Management And General | $38,895 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,760 | TotalAmt |
| Fundraising | $11,760 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,552 | TotalAmt |
| Management And General | $6,552 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,495 | TotalAmt |
| Program Services | $7,332 | ProgramServicesAmt |
| Management And General | $6,990 | ManagementAndGeneralAmt |
| Fundraising | $3,173 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,993 | TotalAmt |
| Fundraising | $17,993 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,340 | TotalAmt |
| Program Services | $19,658 | ProgramServicesAmt |
| Management And General | $1,174 | ManagementAndGeneralAmt |
| Fundraising | $8,508 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,869 | TotalAmt |
| Program Services | $39,442 | ProgramServicesAmt |
| Management And General | $2,355 | ManagementAndGeneralAmt |
| Fundraising | $17,072 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $123,302 | TotalAmt |
| Program Services | $82,612 | ProgramServicesAmt |
| Management And General | $4,932 | ManagementAndGeneralAmt |
| Fundraising | $35,758 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,262 | TotalAmt |
| Program Services | $10,226 | ProgramServicesAmt |
| Management And General | $610 | ManagementAndGeneralAmt |
| Fundraising | $4,426 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,227 | TotalAmt |
| Program Services | $12,212 | ProgramServicesAmt |
| Management And General | $729 | ManagementAndGeneralAmt |
| Fundraising | $5,286 | FundraisingAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM COSTS | Desc |
| Total | $27,538 | TotalAmt |
| Program Services | $27,538 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,066,159 | TotalAmt |
| Program Services | $8,395,199 | ProgramServicesAmt |
| Management And General | $154,504 | ManagementAndGeneralAmt |
| Fundraising | $516,456 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $432,125 | BOYAmt |
| EOY | $328,463 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,337,153 | BOYAmt |
| EOY | $3,136,530 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,724,092 | BOYAmt |
| EOY | $1,921,379 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,172 | BOYAmt |
| EOY | $38,059 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $147,016 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $81,925 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,487 | BOYAmt |
| EOY | $65,091 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,560,836 | BOYAmt |
| EOY | $18,390,832 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $97,500 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $88,945 | BOYAmt |
| EOY | $9,646 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,234,810 | BOYAmt |
| EOY | $23,987,500 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,699 | BOYAmt |
| EOY | $129,741 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,600 | BOYAmt |
| EOY | $137,600 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $201,299 | BOYAmt |
| EOY | $267,341 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,328,386 | BOYAmt |
| EOY | $1,418,755 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,705,125 | BOYAmt |
| EOY | $22,301,404 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,033,511 | BOYAmt |
| EOY | $23,720,159 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,234,810 | BOYAmt |
| EOY | $23,987,500 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $571,623 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $115,025 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,580,735 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,357,268 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,944,838 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $8,988,126 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $9,432,921 | CurrentTaxYearAmt |
| Total | $40,303,888 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,580,735 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,357,268 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,944,838 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $8,988,126 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $9,432,921 | CurrentTaxYearAmt |
| Total | $40,303,888 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $10,167,642 | SubstantialContributorsTotAmt |
| Public Support Total170 | $30,136,246 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $136,854 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $247,154 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $409,073 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $430,762 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $159,717 | CurrentTaxYearAmt |
| Total | $1,383,560 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $41,687,448 | TotalSupportAmt |
| Public Support CY170 | 0.72290 | PublicSupportCY170Pct |
| Public Support PY170 | 0.72820 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $45,728 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,988 | DepreciationAmt |
| Book Value | $39,740 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $76,976 | OtherCostOrOtherBasisAmt |
| Depreciation | $64,040 | DepreciationAmt |
| Book Value | $12,936 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,312 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,897 | DepreciationAmt |
| Book Value | $12,415 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $65,091 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $9,746,255 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $115,025 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $115,025 | RevenueNotReportedAmt |
| Revenue Subtotal | $9,631,230 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $6,552 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $6,552 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $9,637,782 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $9,059,607 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $9,059,607 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $6,552 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $6,552 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $9,066,159 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FUND IS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)(3) AND THE CALIFORNIA TAX CODE. THE FUND FOLLOWS THE GUIDANCE OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740 FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED THE FUND'S TAX POSITIONS AND CONCLUDED THAT THE FUND HAD MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 3359 | RecipientCnt |
| Cash Grant | $7,662,969 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE BASIC FUND MAKES GRANTS FOR SCHOLARSHIPS FOR STUDENTS TO ATTEND PRIVATE INSTITUTIONS. THE FUND AWARDS THESE SCHOLARSHIPS TO FAMILIES WHO QUALIFY FOR ASSISTANCE ACCORDING TO THE FUND'S ELIGIBILITY REQUIREMENTS, BASED ON FEDERAL POVERTY GUIDELINES. FAMILIES SUBMIT FOR EACH STUDENT ALONG WITH FINANCIAL DOCUMENTATION FROM A GOVERNMENTAL AGENCY. EACH STUDENT MUST MEET THE ACADEMIC ADMISSIONS REQUIREMENTS OF THEIR CHOSEN SCHOOL. SCHOLARSHIP AMOUNTS ARE BASED ON A SLIDING SCALE, DETERMINED BY FINANCIAL NEED. ONCE AN APPLICANT HAS BEEN AWARDED A SCHOLARSHIP THE SCHOOL VERIFIES TO THE BASIC FUND THAT THE STUDENT HAS BEEN ACCEPTED AND IS ATTENDING THE SCHOOL. SCHOLARSHIP PAYMENTS ARE SENT DIRECTLY TO THE SCHOOLS, EITHER THROUGH PRE-APPROVED ACH PAYMENTS OR BY CHECK. THE INSTITUTIONS ARE ALL SCHOOLS KNOWN TO THE BASIC FUND, WHICH HAS LONG STANDING ARRANGEMENTS AND MULTIPLE SCHOLARSHIP RECIPIENTS AT EACH SCHOOL. THE ORGANIZATION REGULARLY VISITS ANY NEW SCHOOLS CHOSEN BY PARENTS, AS WELL AS SCHOOLS WHERE THERE IS A LARGE CONCENTRATION OF SCHOLARSHIP RECIPIENTS, AND IN ANY CASE AIM TO VISIT EACH SCHOOL AT LEAST BIANNUALLY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RACHEL ELGINSMITH | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $189,760 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $189,760 | $0 | $0 | $0 |
| CHRISTINE WEISS | ||||||||||||||
| CHIEF ADV. OFFICER | $144,400 | $0 | $17,000 | $0 | $0 | $0 | $0 | $0 | $678 | $0 | $162,078 | $0 | $0 | $0 |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 6 | ContributionCnt |
| Noncash Contributions Rpt F990 | $505,210 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THIS COLUMN REFLECTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS CONTRIBUTED. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE PRESIDENT, BRIAN GRIGGS, TREASURER, MR. JEREMY PETERS, AND CHIEF EXECUTIVE OFFICER, RACHEL ELGINSMITH, REVIEWED IN DETAIL THE FORM 990. A COMPLETED COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD FOR REVIEW BEFORE FILING. SUBSEQUENT TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE, THE AUDIT COMMITTEE REVIEWED THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | PRESIDENT BRIAN GRIGGS AND CHIEF EXECUTIVE OFFICER RACHEL ELGINSMITH REGULARLY MONITOR THE ACTIVITIES OF THE ORGANIZATION AND ITS BOARD TO ENSURE THERE IS NO CONFLICT OF INTEREST. IT IS MANDATED BY POLICY, THAT ALL DIRECTORS AND OFFICERS MUST NOTIFY THE BOARD OF POTENTIAL CONFLICTS ON A NO LESS THAN ANNUAL BASIS. OUR CONFLICTS OF INTEREST POLICY (THE "POLICY") COVERS ALL DIRECTORS, OFFICERS, AND MEMBERS OF BOARD COMMITTEES WITH BOARD DELEGATED POWERS, AND FAMILY MEMBERS OF SUCH PERSONS. IN CONNECTION WITH ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST, ANY PERSON COVERED UNDER THE POLICY MUST ANNUALLY DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST AND ALL MATERIAL FACTS TO THE DIRECTOR(S) AND OFFICER(S) DELEGATED BY THE BOARD, CURRENTLY THE CHIEF EXECUTIVE OFFICER AND TREASURER, TO CONSIDER THE TRANSACTION OR ARRANGEMENT. SHOULD THE POTENTIAL CONFLICT WARRANT REVIEW BY THE BOARD, THE DESIGNATED OFFICER(S) ALERT THE CHAIRMAN AND OTHER BOARD COMMITTEE CHAIRS, TO CONSIDER THE TRANSACTION AND DETERMINE WHETHER THERE IS A POTENTIAL CONFLICT. AN INVESTIGATION AND SPECIAL MEETING MAY BE CALLED TO AID IN THE DETERMINATION, IF NECESSARY. A CONFLICT MUST NOT EXIST WITHIN THE ORGANIZATION AT ANY TIME. IF IT IS DETERMINED THAT A TRANSACTION WILL RESULT IN A CONFLICT OF INTEREST THE BOARD MUST TAKE STEPS TO ENSURE THAT THE CONFLICT OF INTEREST DOES NOT ARISE. SHOULD AN ALREADY EXISTING CONFLICT OF INTEREST BE BROUGHT TO THE ATTENTION OF THE BOARD, NECESSARY STEPS TO ELIMINATE THE CONFLICT MUST BE TAKEN. IF THERE IS REASONABLE CAUSE TO BELIEVE THAT AN INDIVIDUAL HAS FAILED TO DISCLOSE A POTENTIAL CONFLICT, THE BOARD SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. IN THE CASE OF A TRANSACTION THAT COULD BE CHARACTERIZED AS AN EXCESS BENEFIT TO A DIRECTOR OR VOTING OFFICER, SPECIAL PROCEDURES ("SANCTIONS") ARE UNDERTAKEN PRIOR TO SUCH A TRANSACTION. THESE SANCTIONS INCLUDE BOARD APPROVAL OF SUCH TRANSACTION, AND INVESTIGATIONS AND DATA GATHERING IS TO HAPPEN PRIOR TO SUCH A VOTE. THE VOTE OCCURS WITHOUT THE PARTICIPATION OF THE DIRECTOR OR OFFICER IN QUESTION, OR THEIR FAMILY MEMBERS. ANY APPROVED TRANSACTIONS ARE DULY RECORDED. |
| FORM 990, PART VI, SECTION B, LINE 15A | IN 2009, THE BOARD MADE UP OF INDEPENDENT MEMBERS APPROVED THE USE OF A SEARCH COMPANY TO FILL THE NEWLY CREATED CHIEF EXECUTIVE OFFICER ROLE. THE SEARCH FIRM PROVIDED COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE SALARY RANGE DETERMINED FOR THE CHIEF EXECUTIVE OFFICER POSITION AND THE DELIBERATIONS AND DECISION WERE DOCUMENTED CONTEMPORANEOUSLY. THE DOCUMENTATION INCLUDED THE LIST OF THE MEMBERS PRESENT AT THE TIME, HOW THE MEMBERS VOTED AND A DESCRIPTION FOR THE COMPARABLE DATA RELIED UPON BY THE BOARD AND HOW IT WAS OBTAINED, ETC. AS REQUIRED BY THE INTERMEDIATE SANCTIONS REGULATIONS. UNTIL 2019, THE BOARD REQUESTED A REVIEW OF MARKET CONDITIONS AND COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. UPON REVIEW BY THE BOARD PRESIDENT AND CHAIRMAN, THE BOARD VOTED TO APPROVE THE TITLE OF CHIEF EXECUTIVE OFFICER AND A SALARY INCREASE TO REFLECT UPDATED RESPONSIBILITIES AND MARKET CONDITIONS FOR THE POSITION. IN JANUARY 2020, THE BOARD MADE UP OF INDEPENDENT MEMBERS APPROVED THE USE OF A SEARCH COMPANY TO FILL THE NEWLY CREATED CHIEF ADVANCEMENT OFFICER ROLE. THE SEARCH FIRM PROVIDED COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE SALARY RANGE DETERMINED FOR THE ADVANCEMENT DIRECTOR POSITION AND THE DELIBERATIONS AND DECISION WERE DOCUMENTED CONTEMPORANEOUSLY. THE PRESIDENT OF THE BOARD OF DIRECTORS APPROVES ALL OF THE COMPENSATION ADJUSTMENTS ON AN ANNUAL BASIS. COMPENSATION ADJUSTMENTS INCLUDE A REVIEW OF SIMILAR POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE AND UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D). |
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