BASIC FUND: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: BASIC FUND (EIN 94-3290699)
Tax period: 2018-07-01 to 2019-06-30
Filed: 2020-07-08
IRS object ID: 202041909349301914
Schema version: 2018v3.3
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
Form 990
Schedule A
Schedule B
Schedule D
Schedule I
Schedule M
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2020-07-08T13:52:49-05:00	ReturnTs
Tax Period End	2019-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	KPMG LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	55 Second Street 1400	AddressLine1Txt
City	San Francisco	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94105	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2018-07-01	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)
In Care Of	% RACHEL ELGINSMITH	InCareOfNm
Business Name Control	BASI	BusinessNameControlTxt
Phone	4159865650	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	475 14TH STREET SUITE 520	AddressLine1Txt
City	OAKLAND	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94612	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JEREMY PETERS	PersonNm
Person Title	Treasurer	PersonTitleTxt
Phone	4159865650	PhoneNum
Signature	2020-07-06	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Shalini Saidha	PreparerPersonNm
PTIN	P01959812	PTIN
Phone	4159635100	PhoneNum
Preparation	2020-07-06	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	199.207.253.101	IPv4AddressTxt

Field	Value	IRS element (for citing)
Federal Original Submission Id	94029720201905000007	FederalOriginalSubmissionId
Federal Original Submission Id	2020-07-08	FederalOriginalSubmissionIdDt
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	AFC1CABF2724952AFBFC3879A4882118A11459E7	AtSubmissionCreationDeviceId
At Submission Filing Device Id	AFC1CABF2724952AFBFC3879A4882118A11459E7	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	John Kerrigan	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	475 14TH STREET SUITE 520	AddressLine1Txt
City	OAKLAND	CityNm
State Abbreviation	OK	StateAbbreviationCd
ZIP	94612	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$30,984,171	GrossReceiptsAmt
Group Return For Affiliates	false	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 Broaden the educational opportunities for inner city children by helping low-income families afford tuition at private schools.	ActivityOrMissionDesc
Voting Members Governing Body	32	VotingMembersGoverningBodyCnt
Voting Members Independent	32	VotingMembersIndependentCnt
Total Employee	16	TotalEmployeeCnt
Total Volunteers	33	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$8,357,268	PYContributionsGrantsAmt
CY Contributions Grants	$6,944,838	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$265,190	PYInvestmentIncomeAmt
CY Investment Income	$442,112	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$8,622,458	PYTotalRevenueAmt
CY Total Revenue	$7,386,950	CYTotalRevenueAmt
PY Grants And Similar Paid	$5,198,692	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$6,133,232	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$814,935	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$895,707	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$560,002	CYTotalFundraisingExpenseAmt
PY Other Expenses	$398,591	PYOtherExpensesAmt
CY Other Expenses	$542,296	CYOtherExpensesAmt
PY Total Expenses	$6,412,218	PYTotalExpensesAmt
CY Total Expenses	$7,571,235	CYTotalExpensesAmt
PY Revenues Less Expenses	$2,210,240	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$184,285	CYRevenuesLessExpensesAmt
Total Assets BOY	$21,352,697	TotalAssetsBOYAmt
Total Assets EOY	$21,176,737	TotalAssetsEOYAmt
Total Liabilities BOY	$33,614	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$32,803	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$21,319,083	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$21,143,934	NetAssetsOrFundBalancesEOYAmt
Mission	THE BASIC FUND (BAY AREA SCHOLARSHIPS FOR INNER CITY CHILDREN) IS A PRIVATELY FUNDED PROGRAM WHOSE MISSION IS TO BROADEN THE EDUCATIONAL OPPORTUNITIES FOR INNER CITY CHILDREN BY HELPING LOW-INCOME FAMILIES AFFORD THE COST OF TUITION AT PRIVATE SCHOOLS IN THE BAY AREA.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$6,875,059	ExpenseAmt
Grant	$6,133,232	GrantAmt
Revenue	$0	RevenueAmt
Desc	THE BASIC FUND (BAY AREA SCHOLARSHIPS FOR INNER CITY CHILDREN) IS A PRIVATELY FUNDED PROGRAM WHOSE MISSION IS TO BROADEN THE EDUCATIONAL OPPORTUNITIES FOR INNER CITY CHILDREN BY HELPING LOW-INCOME FAMILIES AFFORD THE COST OF TUITION AT PRIVATE SCHOOLS IN THE BAY AREA.	Desc
Total Program Service Expenses	$6,875,059	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Temp Or Permanent Endowments	false	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	false	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	Yes (true)	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	false	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	Yes (true)	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	15	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	16	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Quid Pro Quo Contributions	false	QuidProQuoContributionsInd
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	32	GoverningBodyVotingMembersCnt
Independent Voting Member	32	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	CA	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	RACHEL ELGINSMITH	PersonNm
Phone	4159865650	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	475 14TH STREET SUITE 520	AddressLine1Txt
City	OAKLAND	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94612	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (34 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
J WILLIAM MORRIS III
PRESIDENT	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
STEVEN S KLEIN
VICE PRESIDENT	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
RICHARD BARKER
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
ROBERT BARRETT
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
RICHARD BERTERO
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
CABOT BROWN
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JAMES CONN
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JOHN COUCH
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
KENNETH DERR
CHAIRMAN	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
R STEPHEN DOYLE
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JEFFREY EDWARDS
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
BYRON GILL
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JAMES HERBERT II
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
RUPERT JOHNSON JR
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
EDWARD MCDERMOTT
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
STEPHEN MILLHAM
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
TIMOTHY RANZETTA
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
WILLIAM RING
Vice President	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
ERIC A SCHWARTZ
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
WARREN E SPIEKER JR
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
MICHAEL WILSEY
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JEREMY PETERS
Treasurer	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
CRAIG JOHNSON
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
THEODORE KRUTTSCHNITT
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
MICHAEL MCCARTHY
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
MARTIN ROMO
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
CRYSTAL BRYANT
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
RICHARD CHOW
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
GENET GARAMENDI
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
BRIAN GRIGGS
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
JOHN KERRIGAN JR
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
EDWARD JAMIESON
DIRECTOR	1.0	0.0	Yes (X)		$0	$0	$0
RACHEL ELGINSMITH
EXECUTIVE DIRECTOR	50.0	0.0		Yes (X)	$140,260	$0	$0
MICHELLE HARRIS
DEVELOPMENT DIRECTOR	50.0	0.0			$150,550	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$290,810	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	2	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Field	Value	IRS element (for citing)
Person	NONE	PersonNm

Field	Value	IRS element (for citing)
Contractor Address		ContractorAddress

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$6,944,838	AllOtherContributionsAmt
Noncash Contributions	$293,168	NoncashContributionsAmt
Total Contributions	$6,944,838	TotalContributionsAmt
Total Program Service Revenue	$0	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$409,073	TotalRevenueColumnAmt
Exclusion	$409,073	ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt
Personal	$0	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Other	$23,630,260	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Other	$23,597,221	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Other	$33,039	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$33,039	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$0	FundraisingGrossIncomeAmt
Fundraising Direct Expenses	$0	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gaming Gross Income	$0	GamingGrossIncomeAmt
Gaming Direct Expenses	$0	GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$0	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$0	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$0	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$7,386,950	TotalRevenueColumnAmt
Exclusion	$409,073	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$6,133,232	TotalAmt
Program Services	$6,133,232	ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$140,260	TotalAmt
Program Services	$46,753	ProgramServicesAmt
Management And General	$46,753	ManagementAndGeneralAmt
Fundraising	$46,754	FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$650,448	TotalAmt
Program Services	$370,585	ProgramServicesAmt
Fundraising	$279,863	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$44,634	TotalAmt
Program Services	$23,558	ProgramServicesAmt
Management And General	$2,639	ManagementAndGeneralAmt
Fundraising	$18,437	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$60,365	TotalAmt
Program Services	$31,861	ProgramServicesAmt
Management And General	$3,569	ManagementAndGeneralAmt
Fundraising	$24,935	FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$34,106	TotalAmt
Management And General	$34,106	ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$39,699	TotalAmt
Program Services	$4,514	ProgramServicesAmt
Management And General	$270	ManagementAndGeneralAmt
Fundraising	$34,915	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$43,293	TotalAmt
Program Services	$29,006	ProgramServicesAmt
Management And General	$1,731	ManagementAndGeneralAmt
Fundraising	$12,556	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$178,993	TotalAmt
Program Services	$119,925	ProgramServicesAmt
Management And General	$7,160	ManagementAndGeneralAmt
Fundraising	$51,908	FundraisingAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$92,233	TotalAmt
Program Services	$61,796	ProgramServicesAmt
Management And General	$3,689	ManagementAndGeneralAmt
Fundraising	$26,748	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$17,500	TotalAmt
Program Services	$555	ProgramServicesAmt
Management And General	$15,987	ManagementAndGeneralAmt
Fundraising	$958	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$7,062	TotalAmt
Program Services	$4,732	ProgramServicesAmt
Management And General	$282	ManagementAndGeneralAmt
Fundraising	$2,048	FundraisingAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$10,108	TotalAmt
Program Services	$3,370	ProgramServicesAmt
Management And General	$3,369	ManagementAndGeneralAmt
Fundraising	$3,369	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	FundraisingFundraisingAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
FUNDRAISING	$57,511	$57,511
PROGRAM COSTS	$45,172		$45,172
MISCELLANEOUS EXPENSE	$11,201			$11,201
BOARD EXPENSE	$5,418			$5,418

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$7,571,235	TotalAmt
Program Services	$6,875,059	ProgramServicesAmt
Management And General	$136,174	ManagementAndGeneralAmt
Fundraising	$560,002	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$88,374	BOYAmt
EOY	$10,322	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$451,223	BOYAmt
EOY	$758,698	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$1,884,932	BOYAmt
EOY	$1,572,415	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$95,202	BOYAmt
EOY	$44,526	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$83,422	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$63,419	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$16,913	BOYAmt
EOY	$20,003	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$18,754,761	BOYAmt
EOY	$18,693,876	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$61,292	BOYAmt
EOY	$76,897	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$21,352,697	BOYAmt
EOY	$21,176,737	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$33,614	BOYAmt
EOY	$32,803	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$33,614	BOYAmt
EOY	$32,803	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$21,319,083	BOYAmt
EOY	$21,143,934	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$21,352,697	BOYAmt
EOY	$21,176,737	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	-$184,285	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$9,136	NetUnrlzdGainsLossesInvstAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	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 (true)	AuditCommitteeInd
Federal Grant Audit Required	false	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	$5,760,777	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$6,858,826	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$6,580,735	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$8,357,269	CurrentTaxYearMinus1YearAmt
Current Tax Year	$6,651,670	CurrentTaxYearAmt
Total	$34,209,277	TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$5,760,777	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$6,858,826	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$6,580,735	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$8,357,269	CurrentTaxYearMinus1YearAmt
Current Tax Year	$6,651,670	CurrentTaxYearAmt
Total	$34,209,277	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$8,642,263	SubstantialContributorsTotAmt
Public Support Total170	$25,567,014	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$82,760	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$81,500	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$136,854	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$247,154	CurrentTaxYearMinus1YearAmt
Current Tax Year	$409,073	CurrentTaxYearAmt
Total	$957,341	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$35,166,618	TotalSupportAmt
Public Support CY170	0.72703	PublicSupportCY170Pct
Public Support PY170	0.71340	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

Field	Value	IRS element (for citing)
Art Public Exhibition Amounts		ArtPublicExhibitionAmountsGrp
Held Works Art		HeldWorksArtGrp
CY Minus3 Yr Endwmt Fund		CYMinus3YrEndwmtFundGrp
CY Minus4 Yr Endwmt Fund		CYMinus4YrEndwmtFundGrp
Land		LandGrp
Buildings		BuildingsGrp
Leasehold Improvements		LeaseholdImprovementsGrp

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$83,422	OtherCostOrOtherBasisAmt
Depreciation	$63,419	DepreciationAmt
Book Value	$20,003	BookValueAmt

Field	Value	IRS element (for citing)
Other Land Buildings		OtherLandBuildingsGrp
Total Book Value Land Buildings	$20,003	TotalBookValueLandBuildingsAmt
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt
Total Liability	$0	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$7,396,086	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$9,136	NetUnrealizedGainsInvstAmt
Revenue Not Reported	$9,136	RevenueNotReportedAmt
Revenue Subtotal	$7,386,950	RevenueSubtotalAmt
Total Revenue Per Form990	$7,386,950	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$7,571,235	TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal	$7,571,235	ExpensesSubtotalAmt
Total Expenses Per Form990	$7,571,235	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	ASC 740	FormAndLineReferenceDesc
Explanation	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 STATEMENT OF FINANCIAL POSITION TO COMPLY WITH PROVISIONS OF THIS GUIDANCE.	ExplanationTxt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (true)	GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Field	Value	IRS element (for citing)
Grant Type	Scholarships	GrantTypeTxt
Recipient	3590	RecipientCnt
Cash Grant	$6,133,232	CashGrantAmt
Valuation Method Used	n/a	ValuationMethodUsedDesc
Non Cash Assistance	n/a	NonCashAssistanceDesc

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule I, part I, line 2	FormAndLineReferenceDesc
Explanation	THE BASIC FUND MAKES GRANTS FOR SCHOLARSHIPS FOR STUDENTS TO ATTEND PRIVATY INSTITUTIONS. THE FUND AWARDS THESE SCHOLARSHIPS TO FAMILIES WHO QUALIFY FOR ASSISTANCE UNDER THE GUIDELINES SET FOR THE FREE OR REDUCED PRICE FEDERAL LUNCH PROGRAM. THE STUDENT SUBMITS AN APPLICATION AND THE FINANCIAL DOCUMENTATION FROM A GOVERNMENTAL AGENCY. THE STUDENT MUST MEET THE ACADEMIC AND ADMISSIONS REQUIREMENTS OF THEIR CHOSEN SCHOOL. APPLICANTS ARE AWARDED SCHOLARSHIPS BASED ON 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 INSTITUTION. SCHOLARSHIP CHECKS ARE THEN SENT DIRECTLY TO THE SCHOOLS. THE INSTITUTIONS ARE ALL SCHOOLS KNOWN TO THE BASIC FUND AND WE GENERALLY HAVE NUMEROUS SCHOLARSHIP ATTENDEES AT EACH OF THESE INNER CITY SCHOOLS. WE VISIT ANY SCHOOLS THAT ARE NEW TO OUR ORGANIZATION, AND WE REGULARLY VISIT SCHOOLS WITH THE HIGHEST CONCENTRATION OF STUDENTS. WE ENDEAVOR TO VISIT EACH OF THE SMALLER SCHOOLS ON A BIANNUAL BASIS.	ExplanationTxt

Schedule M IRS990ScheduleM

Field	Value	IRS element (for citing)
Works Of Art		WorksOfArtGrp
Art Historical Treasures		ArtHistoricalTreasuresGrp
Art Fractional Interest		ArtFractionalInterestGrp
Books And Publications		BooksAndPublicationsGrp
Clothing And Household Goods		ClothingAndHouseholdGoodsGrp
Cars And Other Vehicles		CarsAndOtherVehiclesGrp
Boats And Planes		BoatsAndPlanesGrp
Intellectual Property		IntellectualPropertyGrp

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	160	ContributionCnt
Noncash Contributions Rpt F990	$293,168	NoncashContributionsRptF990Amt
Method Of Determining Revenues	AVERAGE MARKET	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Securities Closely Held Stock		SecuritiesCloselyHeldStockGrp
Secur Prtnrshp Trust Intrsts		SecurPrtnrshpTrustIntrstsGrp
Securities Miscellaneous		SecuritiesMiscellaneousGrp
Qualified Contrib Hist Struct		QualifiedContribHistStructGrp
Qualified Contrib Other		QualifiedContribOtherGrp
Real Estate Residential		RealEstateResidentialGrp
Real Estate Commercial		RealEstateCommercialGrp
Real Estate Other		RealEstateOtherGrp
Collectibles		CollectiblesGrp
Food Inventory		FoodInventoryGrp
Drugs And Medical Supplies		DrugsAndMedicalSuppliesGrp
Taxidermy		TaxidermyGrp
Historical Artifacts		HistoricalArtifactsGrp
Scientific Specimens		ScientificSpecimensGrp
Archaeological Artifacts		ArchaeologicalArtifactsGrp
Any Property That Must Be Held	false	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	false	ReviewProcessUnusualNCGiftsInd
Third Parties Used	false	ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE M, PART I, LINE 9	FormAndLineReferenceDesc
Explanation	THE NUMBER OF INDIVIDUAL CONTRIBUTORS IS BEING REPORTED.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART VI, SECTION B, LINE 11B	The President, Brian Griggs, and Treasurer, Mr. Jeremy Peters, reviewed in detail the Form 990. A complete copy of the Form 990 is provided to the board for review. Subsequent to filing the return with the internal revenue service, the audit committee will review the form 990.
PART VI, SECTION B, LINE 12C	President Brian Griggs and Executive Director 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 Executive Director 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.
PART VI, SECTION B, LINE 15	In 2009, the board made up of independent members approved the use of a search company to fill the newly created Executive Director 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 Executive Director position and the deliberations and decsion were documented contemporaneously. The documentation included the list of the members present at the time, how the members voted and a description of the comparable data relied upon by the board and how it was obtained, etc. as required by the intermediate sanctions regulations. THE BOARD HAS DETERMINED THAT THE RELEVANT MARKET CONDITIONS HAVE NOT CHANGED MATERIALLY, AND IT POSSESSES NO OTHER INFORMATION INDICATING THAT THE RESULTS OF THE PRIOR YEAR'S COMPARABILITY DATA ARE NO LONGER VALID. THUS, OTHER THAN A SMALL COST OF LIVING INCREASE, THERE HAS BEEN NO SUBsEQUENT CHANGE IN THE EXECUTIVE DIRECTOR'S COMPENSATION PACKAGE. THE ORGANIZATION DOES NOT HAVE ANY OTHER COMPENSATED OFFICERS OR KEY EMPLOYEES. The president of the board of directors approves all the compensation adjustments on an annual basis. The compensation adjustments include a review of similar positions.
PART VI, SECTION C, LINE 19	Federal Tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection. The organization makes its financial statements available on its website and upon request.