BENEFICENT TECHNOLOGY INC

EIN: 770555413 501(c)(3) Human Services

PALO ALTO, CA

Total Revenue
$10,927,375
Total Expenses
$14,038,123
Total Assets
$2,547,397
Net Assets
$1,079,624
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
CA
Principal Officer
AYAN KISHORE
Phone
6506443400
Tax Period
2023-01-01 to 2023-12-31

BENEFICENT TECHNOLOGY INC, founded in 2000, is a mid-sized nonprofit in the Human Services sector that reported $10.9M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $14.0M exceeded revenue, resulting in a 28% operating deficit.

Mission

BENETECH IS DRAMATICALLY IMPROVING EDUCATION EQUITY IN PARTNERSHIP WITH THE COMMUNITIES THAT IT SERVES THROUGH ITS TECHNOLOGY, PROGRAMS AND SERVICES, CATERING TO THE HISTORICALLY UNDERSERVED POPULATION OF 1 IN 5 STUDENTS WHO LEARN DIFFERENTLY. BENETECH BELIEVES THAT EQUITABLE

Program Service Accomplishments

Program 1
Expenses: $9,192,527 Revenue: $1,089,769

ACCESSIBLE EDUCATION CONTENT AND TECHNOLOGY:BENETECH HAS BEEN DELIVERING INCLUSIVE LEARNING SOLUTIONS FOR OVER 20 YEARS AS THE DEVELOPER OF BOOKSHARE, THE WORLD'S LARGEST SERVICE FOR ACCESSIBLE...

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ACCESSIBLE EDUCATION CONTENT AND TECHNOLOGY:BENETECH HAS BEEN DELIVERING INCLUSIVE LEARNING SOLUTIONS FOR OVER 20 YEARS AS THE DEVELOPER OF BOOKSHARE, THE WORLD'S LARGEST SERVICE FOR ACCESSIBLE EDUCATION MATERIALS. BENETECH IS TRANSFORMING HOW EDUCATIONAL CONTENT IS MADE ACCESSIBLE THROUGH INITIATIVES LIKE BOOKSHARE AND ITS GLOBAL CERTIFIED ACCESSIBLE (GCA) PROGRAM. THROUGH THE BOOKSHARE PLATFORM, BENETECH PROVIDES THE WORLD'S LARGEST ONLINE SERVICE FOR ACCESSIBLE E-BOOKS DELIVERING MORE THAN 20 MILLION E-BOOKS AND MATERIALS THAT HAVE SERVED OVER 1.5 MILLION LEARNERS. BENETECH BOOKSHARE MEMBERS READ BOOKS IN FORMATS THAT WORK BEST FOR THEM, WHETHER IT BE AUDIO, TYPOGRAPHY MANIPULATION, WORD HIGHLIGHTS SYNCED WITH AUDIO AND SO ON THROUGH THE BROWSER, MOBILE APPLICATION OR OTHER ASSISTIVE TECHNOLOGY (AT) OF CHOICE. BENETECH'S GOAL FOR ALL LEARNERS IS TO IMPROVE LITERACY AND FOSTER A LOVE FOR LIFE-LONG LEARNING. BENETECH CONTINUES TO SCALE AND INNOVATE, INCLUDING TAKING ON THE NEXT FRONTIER OF LEARNING CONTENT BY MAKING STEM ACCESSIBLE AND EQUITABLE FOR ALL LEARNERS. THE BORN ACCESSIBLE, GCA INITIATIVE CONTINUES TO DRIVE SYSTEM CHANGE IN THE PUBLISHING INDUSTRY, PARTNERING WITH PUBLISHERS TO MAKE BOOKS ACCESSIBLE WHEN THEY ARE CREATED.INCLUSIVE EDUCATION CAPACITY BUILDING AND COMMUNITY ENGAGEMENT:BENETECH IS DEEPENING ITS IMPACT ON EQUITY IN EDUCATION BY WORKING CLOSELY WITH COMMUNITY-BASED ORGANIZATIONS, SCHOOLS, DISTRICTS AND MORE, TO IDENTIFY AND PROVIDE STUDENTS AND THOSE SERVING THEM, SUCH AS AFTER SCHOOL PROGRAMS, THE SUPPORT THEY NEED. DOMESTICALLY, BENETECH IS EXPANDING ITS LOCAL OUTREACH PROGRAMS ACROSS URBAN AND RURAL COMMUNITIES IN NEED - SUCH AS ATLANTA, ALBUQUERQUE, DETROIT, LAS VEGAS AND MEMPHIS - AND ARE BUILDING A MODEL FOR PLACE-BASED CHANGE TO CLOSE LEARNING GAPS.BENETECH SERVES LEARNERS IN OVER 90 COUNTRIES DIRECTLY OR THROUGH PARTNERS AND PROVIDE CAPACITY BUILDING SERVICES FOR INCLUSIVE EDUCATION AND EDUCATION FOR STUDENTS WITH DISABILITIES, PARTICULARLY IN LOW AND MIDDLE INCOME COUNTRIES. BENETECH SUPPORTS SCHOOLS FOR DIGITAL TRANSFORMATION TO EMBRACE INCLUSIVE EDUCATION THROUGH DIGITAL LITERACY AND DIGITAL PEDAGOGY. BENETECH PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO EDUCATORS TO EFFECTIVELY USE ACCESSIBLE CONTENT AND TECHNOLOGY.

Program 2
Expenses: $12,162

HUMAN RIGHTS: BENETECH'S PRIOR, ADDITIONAL WORK SPECIFIC TO HUMAN RIGHTS HAS TRANSITIONED TO PARTNERS IN THOSE COMMUNITIES.

Program 3
Expenses: $2,368,043

TECH MATTERS: THIS FISCALLY SPONSORED PROJECT WORKS IN THREE AREAS: BUILDING THE TECH FOR SOCIAL GOOD FIELD, ASSISTING CRISIS RESPONSE HELPLINES, AND SUPPORTING LOCAL LEADERS AROUND THE WORLD...

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TECH MATTERS: THIS FISCALLY SPONSORED PROJECT WORKS IN THREE AREAS: BUILDING THE TECH FOR SOCIAL GOOD FIELD, ASSISTING CRISIS RESPONSE HELPLINES, AND SUPPORTING LOCAL LEADERS AROUND THE WORLD. FIELD-BUILDING WORK INCLUDES NO-CHARGE CONSULTING TO NONPROFIT LEADERS, A PODCAST FEATURING TECH FOR GOOD LEADERS, PUBLIC SPEAKING AND WRITTEN ARTICLES. ASELO IS AN OPEN-SOURCE CONTACT CENTER PLATFORM DESIGNED SPECIFICALLY FOR THE NEEDS OF CRISIS RESPONSE HELPLINES WHICH DO COUNSELING, REFERRAL AND CASE MANAGEMENT. TERRASO IS AN OPEN SOURCE, ONLINE PLATFORM BEING BUILT FOR LOCAL LEADERS TO ACCESS THE TOOLS, DATA AND FUNDING THEY NEED TO BUILD MORE SUSTAINABLE AND REGENERATIVE LOCAL ECONOMIES AGAINST THE BACKDROP OF CLIMATE CHANGE.ON JANUARY 24, 2023, TECH MATTERS OBTAINED ITS TAX-EXEMPT STATUS UNDER IRS 501(C), AS SUCH, BENETECH ENDED ITS FISCAL SPONSORSHIP AGREEMENT WITH TECH MATTERS.BENETECH IS VULNERABLE TO THE INHERENT RISKS ASSOCIATED WITH REVENUE THAT IS SUBSTANTIALLY DEPENDENT ON GOVERNMENT FUNDING, PUBLIC SUPPORT, AND CONTRIBUTIONS. THE CONTINUED GROWTH AND WELL-BEING OF BENETECH IS CONTINGENT UPON SUCCESSFUL ACHIEVEMENT OF ITS LONG-TERM REVENUE-RAISING GOALS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,778,173
Program Service Revenue $1,089,769
Investment Income $59,433
Other Revenue $0
TOTAL REVENUE $10,927,375

Expense Breakdown

Grants Paid $2,368,043
Salaries & Benefits $8,082,442
Fundraising Expenses $264,844
Program Expenses $11,572,732
Other Expenses $3,587,638
TOTAL EXPENSES $14,038,123

Year-over-Year Comparison

2023 2022 Change
Revenue $10,927,375 $16,107,648 -0.3%
Expenses $14,038,123 $16,300,016 -0.1%
Net Income $-3,110,748 $-192,368 +15.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
80
Volunteers
35

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
2
$335,084
Total Directors
11
$0
Key Employees
4
$808,474
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GERARDO CAPIEL DIRECTOR 1.00
Director
$0 $0 $0
RAYANNE DARENSBOURG DIRECTOR 1.00
Director
$0 $0 $0
TIM ELDER DIRECTOR 1.00
Director
$0 $0 $0
THERESA FAY-BUSTILLOS DIRECTOR 1.00
Director
$0 $0 $0
KEVIN LO BOARD CHAIR 1.00
Officer Director
$0 $0 $0
YOKO NAKAO DIRECTOR 1.00
Director
$0 $0 $0
HEMA SUNDARRAJ DIRECTOR 1.00
Director
$0 $0 $0
KATHERINE SCHNEIDER DIRECTOR 1.00
Director
$0 $0 $0
TAMARA RORIE DIRECTOR 1.00
Director
$0 $0 $0
JUNE KLEIN DIRECTOR 1.00
Director
$0 $0 $0
JAMES FRUCHTERMAN DIRECTOR 1.00
Director
$0 $0 $0
AYAN KISHORE CHIEF EXECUTIVE OFFICER 40.00
Officer
$302,254 $32,830 $335,084
MICHAEL JOHNSON VP CONTENT 40.00
Key Emp
$178,255 $39,759 $218,014
LISA WADORS VERNE VP PROGRAMS 40.00
Key Emp
$178,011 $41,707 $219,718
AARON FIRESTONE VP DATA INSIGHTS 40.00
Key Emp
$168,214 $31,383 $199,597
MATTHEW YIP VP PRODUCT & ENGINEERING 40.00
Key Emp
$157,125 $14,020 $171,145
CHARLES MARK LAPIERRE ARCHITECT 40.00
Highest
$179,990 $37,125 $217,115
JOHN BRUGGE ENGINEERING MANAGER 40.00
Highest
$170,389 $55,276 $225,665
JACOB A BROWNELL PRINCIPAL ENGINEER 40.00
Highest
$172,061 $12,717 $184,778
RONALD K ELLIS III SENIOR ENGINEER 40.00
Highest
$165,770 $13,156 $178,926
KATHRYN BEEHLER SENIOR PRODUCT MANAGER 40.00
Highest
$155,177 $10,898 $166,075
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 $10,927,375 $14,038,123 $2,547,397 $-3,110,748
2022 $16,107,648 $16,300,016 $6,571,567 $-192,368
2021 $16,053,151 $14,643,213 $6,239,324 $1,409,938
2020 $15,504,546 $15,323,008 $7,372,573 $181,538
2019 $14,815,412 $14,771,631 $5,233,252 $43,781
2018 $13,780,014 $12,728,000 $5,238,161 $1,052,014
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