THE BASIC FUND SCHOLARSHIP FOUNDAT… - Form 990 Financial Data

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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

2023

Legal Domicile

Principal Officer

MICHAEL MCCARTHY

Phone

4159544400

Tax Period

2023-07-01 to 2024-06-30

THE BASIC FUND SCHOLARSHIP FOUNDATION, founded in 2023, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $15.2M in total revenue in fiscal year 2023. The organization ran a surplus of $15.2M, a strong 100% operating margin.

Mission

WITH A PURPOSE OF SUPPORTING AND SUSTAINING THE SCHOLARSHIP PROGRAMS OF THE BASIC FUND, AND GUIDED BY THE BASIC FUND SCHOLARSHIP FOUNDATION'S BOARD OF DIRECTORS, THE FOUNDATION WILL STRATEGICALLY DEPLOY FUNDS RAISED INTO CAREFULLY MANAGED INVESTMENTS.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

FUNDRAISING FOR, HOLDING AND MANAGING AN ENDOWMENT FOR ITS SUPPORTED ORGANIZATION, THE BASIC FUND. MAKE PERIODIC GRANTS TO THE BASIC FUND WHICH IT WILL USE TO MAKE SCHOLARSHIP GRANTS FOR THE PURPOSES...

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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 $15,016,027

Program Service Revenue $0

Investment Income $183,236

Other Revenue $0

TOTAL REVENUE $15,199,263

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $10,019

TOTAL EXPENSES $10,019

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,199,263	N/A	N/A
Expenses	$10,019	N/A	N/A
Net Income	$15,189,244	$0	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MCCARTHY	PRESIDENT	1.00	Officer Director	$0	$0	$0
JANISHA SABNANI	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD BARKER	DIRECTOR	1.00	Director	$0	$0	$0
JAMES H HERBERT II	DRIECTOR	1.00	Director	$0	$0	$0
JOHN E KERRIGAN JR	DIRECTOR	1.00	Director	$0	$0	$0
JOHN COUCH	DIRECTOR	1.00	Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$15,199,263	$10,019	$15,214,444	$15,189,244

THE BASIC FUND SCHOLARSHIP FOUNDATION