2019-11-15T07:27:14-06:00 2019-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2018-07-01 043235190 BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION INC BENJ 5085413434 500 FINANCIAL PARK FRANKLIN MA 02038 EDWARD BASILE PRESIDENT 5085413434 2019-11-13 1 JOHN R BUCKLEY P00830631 5083669100 2019-11-07 40.70.31.102 2019-11-13 14:17:47 ES P 98886D9C2EE2353E64B4721720E2EA877921E95E DD4E7B209644E916744C6AD2A8F749A4D1C29958 2018 2020-04-17 16:48:07Z X EDWARD BASILE 500 FINANCIAL PARK FRANKLIN MA 02038 292566 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 WILL BE OCCUPIED FOR FY20. 10 10 0 10 0 0 7526 64185 0 0 17697 211266 0 -2779 25223 272672 0 0 0 0 0 0 0 0 0 433406 20737 433406 20737 -408183 251935 30377284 32741764 30949512 34576644 -572228 -1834880 TO SUPPORT THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL WHICH PROMOTES A CLASSICAL EDUCATION. 0 0 TO BUILD AN APPROXIMATELY 77,500 SQUARE FOOT, TWO-STORY FACILITY TO COMPRISE THE SCHOOL FOR 900 STUDENTS. 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 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 1 7 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 10 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 DONALD TAPPIN PRESIDENT 1.75 X X 0 0 0 EDWARD BASILE - FY20 PRESIDENT BOARD MEMBER 1.75 X 0 0 0 JERRY CIMMINO TREASURER 1.75 X X 0 0 0 SAGAR KAMARTHI BOARD MEMBER 1.75 X 0 0 0 JASON FINE BOARD MEMBER 1.75 X 0 0 0 LAX IYER BOARD MEMBER 1.75 X 0 0 0 JOSEPH MULLEN BOARD MEMBER 1.75 X 0 0 0 JOHN WILLIAMS 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 15571908 ARROWSTREET INC 10 POST OFFICE SQUARE BOSTON MA 02109 ARCHITECTURE SERVICE 387435 DAEDALUS PROJECTS INC 1 FANEUIL HALL MARKETPLACE SOUTH M BOSTON MA 02109 PROJECT MANAGER 268250 3 28402 35783 64185 211266 211266 17115 28402 19894 -2779 -2779 272672 0 0 208487 X 500 500 17596 17596 MISCELLANEOUS 2641 2641 20737 0 20737 0 214343 210898 24366645 6725063 10000 10000 25795803 0 5786296 25795803 30377284 32741764 1368347 3148701 24550000 24550000 1601105 1979567 3430060 4898376 30949512 34576644 X -572228 -1915180 80300 -572228 -1834880 30377284 32741764 X 251935 -1514587 X X 0 1 X 1 0 X 7526 64185 71711 7526 64185 71711 3984 67727 55 52 39 17697 211266 229109 300820 0.22510 0.30120 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 2019 WAS APPROXIMATELY 23%. 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 $81,000 IN FISCAL YEAR 2019. 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. PERCENTAGE OF FINANCIAL SUPPORT: AS SHOWN IN THE 2017 TAX RETURN, THE PUBLIC SUPPORT PERCENTAGE FOR THE FOUNDATION WAS OVER 30%. THE FOUNDATION EXPECTS ITS PUBLIC SUPPORT PERCENTAGE TO CONTINUE TO EXCEED 10% BY A SIGNIFICANT MARGIN IN THE FUTURE.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 25418798 25418798 25795803 DUE TO SCHOOL 3151806 INTEREST RATE SWAP LIABILITY 1746570 4898376 GALA 45517 28402 17115 19894 45517 28402 17115 19894 19894 -2779 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2018-01-04 24550000 TO FUND CAPITAL PROJECTS 0 0 0 A 24550000 650706 1340862 50100 19048011 3460321 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 IX, LINE 11G OTHER CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 17,596. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,596. FORM 990, PART XI, LINE 9: LOSSES ON INTEREST RATE SWAP AGREEMENT -1,514,587. FORM 990, PART VII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.