BENEFICIAL STATE FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

ERIN KILMER NEEL

Phone

5104102036

Tax Period

2023-01-01 to 2023-12-31

BENEFICIAL STATE FOUNDATION, founded in 2006, is a community nonprofit in the Public & Societal Benefit sector that reported $7.5M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. Net assets of $115.3M represent 184 months of operating reserves.

Mission

TO CREATE, GUIDE, AND PROMOTE A BENEFICIAL BANKING MODEL THAT TRANSFORMS THE BANKING INDUSTRY; WE ACCELERATE THE TRANSFORMATION BY ATTRACTING HUMAN, FINANCIAL, AND INTELLECTUAL CAPITAL TO BENEFICIAL BANKING.

Program Service Accomplishments

Program 1

Expenses: $2,277,708 Revenue: $43,006

CREATE PROGRAMS AND DISTRIBUTE GRANTS TO COMBAT ECONOMIC DISTRESS AND ENCOURAGE COMMUNITY DEVELOPMENT, ENCOURAGE FINANCIAL LITERACY, PROMOTE AFFORDABLE HOUSING, AND ELIMINATE DISCRIMINATION BY...

CREATE PROGRAMS AND DISTRIBUTE GRANTS TO COMBAT ECONOMIC DISTRESS AND ENCOURAGE COMMUNITY DEVELOPMENT, ENCOURAGE FINANCIAL LITERACY, PROMOTE AFFORDABLE HOUSING, AND ELIMINATE DISCRIMINATION BY PROMOTING THE PROVISION OF LOANS AND INVESTMENTS, INCLUDING CONSUMER LOANS AND MICRO AND SMALL BUSINESS LOANS, AND DEPOSITORY SERVICES FOR DISADVANTAGED COMMUNITIES AND COMMUNITY SERVICE ORGANIZATIONS, AND BY ANY OTHER MEANS DETERMINED TO BE APPROPRIATE BY THE BOARD.

Program 2

Expenses: $4,254,748 Revenue: $0

SUPPORT CLEAN VEHICLE ASSISTANCE PROGRAM, INCLUDING, BUT NOT LIMITED TO, PROGRAMS AND GRANTS TO HELP LOWER-INCOME CALIFORNIA RESIDENTS PURCHASE A NEW OR USED HYBRID OR ELECTRIC VEHICLE. IN...

SUPPORT CLEAN VEHICLE ASSISTANCE PROGRAM, INCLUDING, BUT NOT LIMITED TO, PROGRAMS AND GRANTS TO HELP LOWER-INCOME CALIFORNIA RESIDENTS PURCHASE A NEW OR USED HYBRID OR ELECTRIC VEHICLE. IN PARTNERSHIP WITH CALIFORNIA CLIMATE INVESTMENTS (A PROGRAM OF THE CALIFORNIA AIR RESOURCES BOARD), THE COLLECTIVE GOAL IS TO MAKE ENVIRONMENTALLY FRIENDLY VEHICLES ACCESSIBLE AND AFFORDABLE TO ALL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,240,351

Program Service Revenue $0

Investment Income $241,930

Other Revenue $43,006

TOTAL REVENUE $7,525,287

Expense Breakdown

Grants Paid $2,741,062

Salaries & Benefits $3,029,926

Fundraising Expenses $0

Program Expenses $6,532,456

Other Expenses $1,899,456

TOTAL EXPENSES $7,670,444

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,525,287	$5,676,276	+0.3%
Expenses	$7,670,444	$6,761,798	+0.1%
Net Income	$-145,157	$-1,085,522	-0.9%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$389,884

Total Directors

Key Employees

$204,806

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT WILKINS	PRESIDENT	0.50	Officer Director	$0	$0	$0
ELMY BERMEJO	BOARD DIRECTOR	0.50	Director	$0	$0	$0
ANGELA GLOVER DAVIS	BOARD DIRECTOR	0.50	Director	$0	$0	$0
JANIECE EVANS-PAGE	BOARD DIRECTOR	0.50	Director	$0	$0	$0
KAT TAYLOR	BOARD DIRECTOR	0.50	Director	$0	$0	$0
ERIN KILMER NEEL	EXECUTIVE DIRECTOR	43.34	Officer	$200,146	$13,070	$213,216
ANNIE BAKKE CLAYBAUGH	SECRETARY/TREAS./VP, OPS & FINANCE	43.34	Officer	$142,085	$34,583	$176,668
DARNELL GRISBY	SVP, CLEAN VEHICLE ASST. PROGRAM	43.34	Key Emp	$192,490	$12,316	$204,806
WILLIAM AARON KRISTIN	STRATEGIC COMMUNICATION DIRECTOR	43.34	Highest	$136,634	$8,990	$145,624
FRANCIS DENNIS JANES	INDUSTRY RELATIONS/PARTNERSHIPS DIR.	43.34	Highest	$127,935	$26,427	$154,362
QUINNTAVIOUS WILLIAMS	DIRECTOR, EQUITABLE BANK STANDARDS	43.34	Highest	$124,104	$14,497	$138,601
RODRIGO SANDOVAL	OPERATIONS DIRECTOR	43.34	Highest	$122,869	$18,258	$141,127
EMILY ELLICKSON-BROWN	ASSOCIATE DIRECTOR, FINANCE	43.34	Highest	$114,406	$31,187	$145,593

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$7,525,287	$7,670,444	$117,915,206	$-145,157
2022	$5,676,276	$6,761,798	$122,226,419	$-1,085,522
2021	$22,406,818	$23,851,666	$119,858,062	$-1,444,848
2020	$14,451,736	$11,306,355	$116,691,991	$3,145,381
2019	$5,533,095	$5,257,343	$113,005,036	$275,752
2018	$21,563,772	$3,564,613	$112,496,822	$17,999,159