2020-10-06T11:21:47-05:00 2020-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-07-01 043235190 BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION INC BENJ 5085413434 500 FINANCIAL PARK FRANKLIN MA 02038 EDWARD BASILE PRESIDENT 5085413434 2020-10-06 1 JOHN R BUCKLEY P00830631 5083669100 2020-10-06 40.70.31.102 2020-10-06 09:55:05 ED P 87AE54C884FF003181B05E7BF84F4C93A3EEF9A3 4C0A05618CC0B48C30981F39FA21B32BDE8F8635 2019 2021-01-29 14:40:06Z EDWARD BASILE 500 FINANCIAL PARK FRANKLIN MA 02038 2301826 0 X N/A X 1994 MA FOUNDATION HAS CLOSED ON FINANCING TO CONSTRUCT A NEW SCHOOL BUILDING. CONSTRUCTION OF THE NEW SCHOOL IS COMPLETE AND WAS OCCUPIED BEGINNING IN FY20. 6 6 0 6 0 0 64185 24581 0 2243415 211266 33830 -2779 0 272672 2301826 0 44144 0 0 0 0 0 0 0 20737 2258134 20737 2302278 251935 -452 32741764 62821625 34576644 66478425 -1834880 -3656800 TO SUPPORT THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL WHICH PROMOTES A CLASSICAL EDUCATION. 0 0 2301089 44144 2243415 TO BUILD AN APPROXIMATELY 77,500 SQUARE FOOT, TWO-STORY FACILITY TO COMPRISE THE SCHOOL FOR 900 STUDENTS. THE BUILDING WAS OCCUPIED BEGINNING IN FY 20. 2301089 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 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 1.75 X X 0 0 0 ZACH CHEW TREASURER 1.75 X X 0 0 0 JASON FINE BOARD MEMBER 1.75 X 0 0 0 JOSEPH MULLEN 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 CONSTRUCTION CO INC 400 TOTTEN POND RD WALTHAM MA 02451 CONSTRUCTION SERVICE 11380146 DAEDALUS PROJECTS INC 1 FANEUIL HALL MARKETPLACE SOUTH M BOSTON MA 02109 PROJECT MANAGER 238705 ARROWSTREET INC 10 POST OFFICE SQUARE BOSTON MA 02109 ARCHITECTURE SERVICE 212490 WHALLEY COMPUTER ASSOCIATES ONE WHALLEY WAY SOUTHWICK MA 01077 INFORMATION TECHNOLOGY 112959 OCKERS COMPANY 830 W CHESTNUT STREET BROCKTON MA 02301 INFORMATION TECHNOLOGY 103238 5 24581 24581 RENTAL INCOME 532000 2243415 2243415 2243415 33830 33830 2301826 2243415 0 33830 44144 44144 1610149 1610149 646796 646796 MISCELLANEOUS 1189 1189 2302278 2301089 1189 0 210898 128385 6725063 2684556 10000 10000 26643397 646796 25795803 25996601 0 34002083 32741764 62821625 3148701 224524 33413270 24550000 24550000 1979567 1991270 4898376 6299361 34576644 66478425 X -1915180 -3656800 80300 0 -1834880 -3656800 32741764 62821625 X -452 -1821468 X X 0 1 X 1 0 X 7526 64185 24581 96292 7526 64185 24581 96292 2816 93476 52 39 17697 211266 33830 262884 359176 2243415 0.26030 0.22510 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 2020 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 SERVES OVER 445 STUDENTS 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 INCLUDE AN EVENT AND SOLICITATIONS FOR THE CONSTRUCTION OF ITS NEW GYM AND PLAYGROUND. ALTOGETHER THE FOUNDATION RAISED OVER $24,000 IN FISCAL YEAR 2020. THE FOUNDATION INVITES POTENTIAL DONORS TO VISIT THE SCHOOL AND TO ATTEND BOTH SPECIAL CULTIVATION EVENTS AND ROUTINE SCHOOL EVENTS. THE FOUNDATION HAS INITIATED A CAPITAL CAMPAIGN THAT IS EXPECTED TO ATTRACT NEW DONORS AND CONTINUE TO INCREASE PUBLIC SUPPORT OVER THE NEXT FEW YEARS. THE FOUNDATION HAS EXPANDED ITS FUNDRAISING PROGRAM OVER THE LAST FEW YEARS, INCREASING THE AMOUNT OF CONTRIBUTIONS RECEIVED AND EXPANDING ITS DONOR BASE, AND EXPECTS TO CONTINUE TO DO SO. FISCAL YEAR 2020 CAME OUT SHORT OF PROJECTIONS DUE TO THE OUTBREAK OF COVID-19 PANDEMIC IN MID MARCH 2020. PERCENTAGE OF FINANCIAL SUPPORT: AS SHOWN IN THE 2017 AND 2018 TAX RETURNS, THE PUBLIC SUPPORT PERCENTAGE FOR THE FOUNDATION WAS OVER 30% AND 22%, 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 EXPECTS 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 377005 377005 25871853 646796 25225057 394539 394539 25996601 LEASE RECEIVABLE 34002083 34002083 DUE TO SCHOOL 2731323 INTEREST RATE SWAP LIABILITY 3568038 6299361 1 BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL 500 FINANCIAL PARK FRANKLIN MA 02038 043235190 509(A)(2) 44144 OPERATING SUPPORT TO THE SCHOOL 1 PART I, LINE 2: THE GRANT FUNDS ARE MONITORED AND APPROVED BY THE BOARD OF TRUSTEES. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2018-01-04 24550000 TO FUND CAPITAL PROJECTS 0 0 0 A 24550000 651357 1340862 50100 21311937 1195744 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 1 CITIZENS BANK 10.000000000000 0 0 0 0 0 A 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: LOSSES ON INTEREST RATE SWAP AGREEMENT -1,821,468. FORM 990, PART VII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.