Overview
What is The Basic Fund?
The Basic Fund, based in Oakland, California, is a privately funded program dedicated to promoting educational equity. It operates in Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma Counties. By offering scholarships to families of low income, The Basic Fund enables children from pre-kindergarten to eighth grade to attend their preferred private or parochial schools in the Bay Area. This initiative aims to level the educational playing field and enhance opportunities for these families. The program employs a team of 13 individuals, working tirelessly to support its mission.
Official website here: www.basicfund.org
What are the reviews and ratings of this charity?
**The Basic Fund (EIN: 943290699)**
**Charity Navigator Rating: 4 Stars (100%)**
The Basic Fund has achieved a commendable 4-star rating from Charity Navigator, reflecting its exceptional accountability and financial transparency. With a perfect score in this area, the organization demonstrates strong governance practices, including an independent board and robust financial oversight mechanisms. The recent updates to their Accountability and Transparency data indicate a commitment to maintaining high standards in the nonprofit sector.
Strengths of The Basic Fund include an impressive program expense ratio of nearly 92%, indicating that the majority of funds are directed towards its missions rather than administrative expenses. Furthermore, the organization has a very low fundraising cost, showing efficient use of resources to generate support. While there is no current scoring on Impact & Measurement, Culture & Community, or Leadership & Adaptability, the financial metrics suggest a solid operational foundation.
Unfortunately, user reviews from GreatNonprofits were not retrievable, leaving a gap in gauging community sentiment or individual experiences with the organization. Overall, The Basic Fund stands out as a financially responsible nonprofit, with a strong focus on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is The Basic Fund legitimate?
The Basic Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Basic Fund 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: $404,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $772,065
For more financial information, click here
Official website here: www.basicfund.org
What is the mission statement of The Basic Fund?
The Basic Fund is a privately funded program that pursues educational equity by providing scholarships to low-income families. Its mission is to help offset the cost of tuition at private schools, enabling these families to afford quality education for their children in grades pre-kindergarten through eighth grade, in various Bay Area counties. The Basic Fund strives to broaden opportunities and promote equality in education for economically disadvantaged families.
Official website here: www.basicfund.org
Who is the CEO of The Basic Fund?
Rachel Elginsmith is the CEO of The Basic Fund The CEO's salary of The Basic Fund is $194,800 and their total compensation is $194,800.
Official website here: www.basicfund.org
What is the revenue of The Basic Fund?
The Basic Fund's revenue in 2024 was $15,579,251.
Official website here: www.basicfund.org
Who are the executives of The Basic Fund and what are their salaries?
The average compensation at The Basic Fund during 2024 was $73,504. There are 16 employees at The Basic Fund.
Here are 25 key members and their salaries (The Basic Fund's CEO's salary is $194,800 and their total compensation is $194,800):
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Official website here: www.basicfund.org
Where can I find the form 990 for The Basic Fund?
The Basic Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.basicfund.org
Learn more at the official website: www.basicfund.org
Mission Statement of The Basic Fund
The Basic Fund, a privately funded program, is committed to enhancing equity by providing scholarships to low-income families. Its mission is to advance educational equity in various Bay Area counties, including Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma. The organization assists these families in affording tuition at their preferred private or parochial schools, offering scholarships to students from pre-kindergarten through eighth grade. By providing this financial assistance, The Basic Fund aims to broaden educational opportunities for low-income families, ensuring that their children can access quality education and have a fair start in life.
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Impact
July, 2024
The Basic Fund's impact is evident in the lives of low-income families in the Bay Area who are able to access quality education through scholarships offered to students from pre-kindergarten through eighth grade. By providing financial assistance for tuition at private or parochial schools, The Basic Fund is actively enhancing educational equity and creating opportunities for underserved communities to receive a quality education. Through these initiatives, The Basic Fund is helping to break down barriers and improve access to education for those who may not have had the opportunity otherwise.
This information is meant to be a general summary of The Basic Fund. 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 2024.
- Investment Income: $705,984
- Gross Receipts: $15,598,931
Assets and Liabilities:
- Total Assets: $23,502,708
- Total Liabilities: $107,485
- Net Assets: $23,395,223
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Organization Details
Founding Year
1997
Principal Officer
Rachel Elginsmith
Website
www.basicfund.orgNTEE Category
Code: B820 - Education
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