THE BASIC FUND (EIN 943290699) - Form 990 Financial Analysis & Trantor Score

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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

1997

Legal Domicile

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

TO ENHANCE EQUITY BY PROVIDING SCHOLARSHIPS TO LOW INCOME FAMILIES.

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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 $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

Governance

Voting Members

Independent Members

Employees

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

$330,803

Total Directors

$330,803

Key Employees

Highest Compensated

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

THE BASIC FUND