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Education : Scholarship and Financial Support

Basic Fund

Giving parents a choice. Giving children a chance.

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Impact Information is available from our partner, GuideStar

four stars

92.38

1301 Clay Street #70450
Oakland, CA 94612
tel: (415) 986-5650   Web Site
EIN: 94-3290699

Board Leadership
Richard C. Barker
Chairman

CEO
Rachel Elginsmith
Executive Director

  Score
(out of 100)
Rating
Overall Score & Rating 92.38 four stars
  Financial 90.00 four stars
  Accountability & Transparency 96.00 four stars
This rating was published 09/03/2019 and includes data from FY2018, the most recent 990 received at that time.

Our mission is to broaden the educational opportunities for low-income families around the Bay Area by helping them afford the cost of tuition at the private school of their choice. Scholarships are available to students entering K-8th grade to attend private schools in all nine Bay Area Counties.

Our mission is to broaden the educational opportunities for low-income families around the Bay Area by helping them afford the cost of tuition at the private school of their choice. Scholarships are available to students entering K-8th grade to attend private schools in all nine Bay Area Counties.

Impact Information

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Reported Results
Total in 2017
Number of students enrolled
3,413
This impact information is current as of September 2019, when it was provided to us by GuideStar. At this time, Impact information published on this organization's page has no effect on its rating per our methodology.

Financial

four stars

90.00

Accountability & Transparency

four stars

96.00

This rating was published 09/03/2019 and includes data from FY2018, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
91.5%
  Administrative Expenses 1.6%
  Fundraising Expenses 6.8%
  Fundraising Efficiency $0.05
  Working Capital Ratio (years) 3.37
  Program Expenses Growth -0.4%
  Liabilities to Assets 0.1%
All data for Financial Performance Metrics calculations was provided by Basic Fund on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Basic Fund on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Basic Fund (CA) 92.38 four stars
The Public Education Foundation (NV) 88.53 three stars
Uncommon Schools (NY) 88.40 three stars
The Foundation for Oklahoma City Public Schools (OK) 91.16 four stars
Schoolseed Foundation (TN) 91.20 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $8,357,268
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $8,357,268
   Program Service Revenue $0
Total Primary Revenue $8,357,268
   Other Revenue $265,190
TOTAL REVENUE $8,622,458
   
EXPENSES  
   Program Expenses $5,824,150
   Administrative Expenses $110,152
   Fundraising Expenses $477,916
TOTAL FUNCTIONAL EXPENSES $6,412,218
   
Payments to Affiliates $0
Excess (or Deficit) for the year $2,210,240
   
Net Assets $21,319,083

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Scholarships $5,824,150 100.0%

Ratings History
Basic Fund has received 3 consecutive 4-star ratings from Charity Navigator.

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2018-06 09/03/2019 92.38 four stars
2017-06 09/01/2018 91.36 four stars
2016-06 02/01/2018 91.36 four stars
2015-06 12/01/2016 89.48 three stars
2014-06 06/01/2016 88.95 three stars
 
CN 2.0
2014-06 04/01/2016 83.23 three stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 94-3290699
Name in IRS Master File BASIC FUND
NTEE Code B82
NTEE Classification Scholarships, Student Financial Aid Services, Awards
NTEE Type Educational Institutions and Related Activities
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (994) Described in section 170(b)1)(a)(vi) of the Code
(40) Scholarships (other)
Foundation Status Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date February, 1998
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
  • June, 2013
Compensation % of Expenses Paid to Title
$133,160 2.07% Rachel Elginsmith Executive Director

Highly Rated

Charity Name & State Overall Score Overall Rating
Basic Fund (CA) 92.38 four stars
South Carolina Governor's School for Science and Math Foundation (SC) 86.01 three stars
West Point Association of Graduates (NY) 93.17 four stars
Rosenberg Fund for Children (MA) 91.81 four stars
Jesuit College Preparatory School of Dallas Foundation (TX) 89.91 three stars

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This charity has an official representative registered with Charity Navigator.

Charity Contact Info

Basic Fund
1301 Clay Street
#70450
Oakland, CA 94612
tel: (415) 986-5650
fax: (415) 986-5358
EIN: 94-3290699

Visit Web Site

Board Leadership

Richard C. Barker
Chairman

CEO

Rachel Elginsmith
Executive Director

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