THE BASIC FUND

EIN: 943290699 501(c)(3) Education

OAKLAND, CA

Total Revenue
$15,579,251
Total Expenses
$17,216,390
Total Assets
$21,853,396
Net Assets
$21,288,198
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
CA
Principal Officer
RACHEL ELGINSMITH
Phone
4159865650
Tax Period
2023-07-01 to 2024-06-30

THE BASIC FUND, founded in 1997, is a mid-sized nonprofit in the Education sector that reported $15.6M in total revenue in fiscal year 2023. Revenue surged 82% from the prior year, signaling strong growth momentum. Expenses of $17.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

THE BASIC FUND IS A PRIVATELY FUNDED PROGRAM WHOSE MISSION IS TO ADVANCE EDUCATIONAL EQUITY FOR LOW-INCOME FAMILIES BY HELPING OFFSET THE COST OF TUITION AT PRIVATE SCHOOLS IN THE BAY AREA.

Program Service Accomplishments

Program 1
Expenses: $16,175,210 Revenue: $0

THE BASIC FUND (THE FUND) IS A PRIVATELY FUNDED PROGRAM DEDICATED TO BROADENING THE EDUCATIONAL EQUITY BY HELPING LOW-INCOME FAMILIES IN ALAMEDA, CONTRA COSTA, MARIN, NAPA, SAN FRANCISCO, SAN MATEO...

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THE BASIC FUND (THE FUND) IS A PRIVATELY FUNDED PROGRAM DEDICATED TO BROADENING THE EDUCATIONAL EQUITY BY HELPING LOW-INCOME FAMILIES IN ALAMEDA, CONTRA COSTA, MARIN, NAPA, SAN FRANCISCO, SAN MATEO, SANTA CLARA, SOLANO, AND SONOMA COUNTIES AFFORD THE COST OF TUITION AT PRIVATE OR PAROCHIAL SCHOOLS OF THEIR CHOICE. THE SCHOLARSHIPS ARE OFFERED TO STUDENTS IN PRE-KINDERGARTEN THROUGH EIGHTH GRADE.

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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 $14,873,471
Program Service Revenue $0
Investment Income $705,780
Other Revenue $0
TOTAL REVENUE $15,579,251

Expense Breakdown

Grants Paid $15,261,255
Salaries & Benefits $1,364,805
Fundraising Expenses $875,590
Program Expenses $16,175,210
Other Expenses $590,330
TOTAL EXPENSES $17,216,390

Year-over-Year Comparison

2023 2022 Change
Revenue $15,579,251 $8,573,960 +0.8%
Expenses $17,216,390 $9,630,729 +0.8%
Net Income $-1,637,139 $-1,056,769 +0.5%
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

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Governance

Voting Members
23
Independent Members
23
Employees
16
Volunteers
N/A

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
6
$330,803
Total Directors
25
$330,803
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RACHEL ELGINSMITH CHIEF EXECUTIVE OFFICER 50.00
Officer Director
$194,800 $0 $194,800
CHRISTINE WEISS CHIEF ADVANCEMENT OFFICER 50.00
Officer Director
$136,003 $0 $136,003
JAMES H HERBERT II CHAIRMAN 1.00
Officer Director
$0 $0 $0
BRIAN GRIGGS PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN COUCH VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JEREMY PETERS TREASURER 1.00
Officer Director
$0 $0 $0
JANISHA SABNANI DEPUTY GENERAL COUNSEL 1.00
Director
$0 $0 $0
RICHARD C BARKER DIRECTOR 1.00
Director
$0 $0 $0
LAUREL BROWMAN DIRECTOR 1.00
Director
$0 $0 $0
CRYSTAL BRYANT DIRECTOR 1.00
Director
$0 $0 $0
JEFFREY G EDWARDS DIRECTOR 1.00
Director
$0 $0 $0
JONO GRAYSON DIRECTOR 1.00
Director
$0 $0 $0
JURGEN HUCK DIRECTOR 1.00
Director
$0 $0 $0
RUPERT H JOHNSON JR DIRECTOR 1.00
Director
$0 $0 $0
JOHN C KERN JR DIRECTOR 1.00
Director
$0 $0 $0
JOHN E KERRIGAN JR DIRECTOR 1.00
Director
$0 $0 $0
TED KRUTTSCHNITT DIRECTOR 1.00
Director
$0 $0 $0
RONNIE LOTT DIRECTOR 1.00
Director
$0 $0 $0
MARISSA MAR DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL MCCARTHY DIRECTOR 1.00
Director
$0 $0 $0
TIM RANZETTA DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM T RING DIRECTOR 1.00
Director
$0 $0 $0
MARTIN ROMO DIRECTOR 1.00
Director
$0 $0 $0
ERIC A SCHWARTZ DIRECTOR 1.00
Director
$0 $0 $0
WARREN E SPIEKER JR 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 $15,579,251 $17,216,390 $21,853,396 $-1,637,139
2023 $8,573,960 $9,630,729 $23,129,936 $-1,056,769
2022 $9,421,973 $9,556,741 $23,502,708 $-134,768
2021 $9,637,782 $9,066,159 $23,987,500 $571,623
2020 $9,507,333 $7,478,424 $23,234,810 $2,028,909
2019 $7,386,950 $7,571,235 $21,176,737 $-184,285
2018 $8,622,458 $6,412,218 $21,352,697 $2,210,240
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