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Education : Scholarship and Financial Support

Basic Fund

Giving parents a choice. Giving children a chance.

four stars

96.02

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 96.02 four stars
  Financial 96.06 four stars
  Accountability & Transparency 96.00 four stars
This rating was published 05/01/2021 and includes data from FY2019, 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.

Financial

four stars

96.06

Accountability & Transparency

four stars

96.00

This rating was published 05/01/2021 and includes data from FY2019, 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)
91.0%
  Administrative Expenses 1.7%
  Fundraising Expenses 7.2%
  Fundraising Efficiency $0.06
  Working Capital Ratio (years) 3.13
  Program Expenses Growth 6.1%
  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) 96.02 four stars
Uncommon Schools (NY) 87.96 three stars
Big Shoulders Fund (IL) 97.87 four stars
Mark Wahlberg Youth Foundation (MA) 89.79 three stars
American Friends of the Hebrew University (NY) 91.73 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $6,944,838
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $6,944,838
   Program Service Revenue $0
Total Primary Revenue $6,944,838
   Other Revenue $442,112
TOTAL REVENUE $7,386,950
   
EXPENSES  
   Program Expenses $6,875,059
   Administrative Expenses $136,174
   Fundraising Expenses $560,002
TOTAL FUNCTIONAL EXPENSES $7,571,235
   
Payments to Affiliates $0
Excess (or Deficit) for the year $-184,285
   
Net Assets $21,143,934

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 $6,875,059 100.0%

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

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2019-06 05/01/2021 96.02 four stars
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, 2018
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
Compensation % of Expenses Paid to Title
$140,260 1.85% Rachel Elginsmith Executive Director
Other Salaries of Note
$150,550 1.98% Michelle Harris Development Director

Highly Rated

Charity Name & State Overall Score Overall Rating
Basic Fund (CA) 96.02 four stars
Big Shoulders Fund (IL) 97.87 four stars
The NASCAR Foundation (FL) 85.96 three stars
Uncommon Schools (NY) 87.96 three stars
Cape Eleuthera Foundation (PA) 88.47 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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