Overview
What is Benjamin Franklin Educational Foundation Inc?
Benjamin Franklin Educational Foundation Inc is a nonprofit organization situated in Franklin, Massachusetts, specifically at 500 Financial Park. Its main purpose is to bolster the financial stability of the Benjamin Franklin Classical Charter Public School by undertaking initiatives such as securing land and building a permanent facility, as well as investing in the school's library and other academic enrichment programs. The foundation's mission aligns with the school's commitment to promoting a classical education.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 82% (Three-Star out of Four Star rating)
The Benjamin Franklin Educational Foundation Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score reflects a strong emphasis on financial transparency and effective governance, which are crucial for maintaining donor trust. The organization scored particularly well in areas such as the independence of its board members and the absence of material diversion of assets.
The foundation's financial health is further highlighted by a program expense ratio of 78.41%, suggesting that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the organization demonstrates robust oversight practices, having an Audit and Oversight Committee in place, and regularly documents board meeting minutes, contributing to its accountability.
While the organization has shown commendable performance in financial metrics, the rating is solely based on accountability and finance, leaving other potential areas of impact and effectiveness unassessed. Prospective donors may wish to consider this limitation when evaluating the foundation's overall effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Benjamin Franklin Educational Foundation Inc legitimate?
Benjamin Franklin Educational Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Benjamin Franklin Educational Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Benjamin Franklin Educational Foundation Inc?
The Benjamin Franklin Educational Foundation Inc was established with the mission to support the Benjamin Franklin Classical Charter Public School. This support is primarily achieved through undertaking a capital campaign to secure land and construct a permanent facility, as well as making capital investments in the school's library and academic enrichment programs. The foundation's ultimate goal is to contribute to the financial well-being of the Benjamin Franklin Classical Charter Public School, which promotes a classical education.
Who is the CEO of Benjamin Franklin Educational Foundation Inc?
Edward Basile is the President And Secretary of Benjamin Franklin Educational Foundation Inc.
What is the revenue of Benjamin Franklin Educational Foundation Inc?
Benjamin Franklin Educational Foundation Inc's revenue in 2023 was $1,534,482.
Who are the executives of Benjamin Franklin Educational Foundation Inc and what are their salaries?
There 4 volunteers at Benjamin Franklin Educational Foundation Inc.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Benjamin Franklin Educational Foundation Inc?
Benjamin Franklin Educational Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Benjamin Franklin Educational Foundation Inc
The Benjamin Franklin Educational Foundation Inc was established with a mission to support the Benjamin Franklin Classical Charter Public School. This nonprofit organization aims to promote a classical education, which is its primary focus. To achieve this, the foundation undertakes various initiatives. One of its key tasks is to secure financial support for the school. This involves launching a capital campaign to acquire land and construct a permanent facility for the school. Additionally, the foundation invests in the school's library and other academic enrichment programs, enhancing the learning environment for the students. The ultimate goal of the Benjamin Franklin Educational Foundation Inc is to ensure the financial well-being of the Benjamin Franklin Classical Charter Public School, thereby contributing to its long-term success and the provision of quality education.
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Impact
July, 2024
The Benjamin Franklin Educational Foundation Inc plays a crucial role in supporting the Benjamin Franklin Classical Charter Public School in Franklin, MA. The foundation focuses on promoting a classical education for students by providing financial support for the school's mission. This includes undertaking capital campaigns to secure land and a building for a permanent facility, as well as making capital investments in the school's library and other academic enrichment programs. Through these efforts, the foundation contributes to the academic growth and success of students at the Benjamin Franklin Classical Charter Public School.
This information is meant to be a general summary of Benjamin Franklin Educational Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $619,064
- Program Service Revenue: $915,283
- Gross Receipts: $27,919,832
Assets and Liabilities:
- Total Assets: $1,610
- Total Liabilities: $0
- Net Assets: $1,610
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$915,283
Organization Details
Founding Year
1994
Phone
(508) 541-3434Principal Officer
Edward Basile
Main Address
500 FINANCIAL PARK, FRANKLIN, MA, 02038
NTEE Category
Code: B112 - Education
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