Nonprofit · EIN 93-1637027
BASIC FUND SCHOLARSHIP FOUNDATION
Tax-exempt · OAKLAND, CA 94612
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $6,241,043 | $634,213 | $5,606,830 | $21,629,399 | $0 | $21,629,399 |
| June 30, 2024 | 990 | $15,199,263 | $10,019 | $15,189,244 | $15,214,444 | $0 | $15,214,444 |
| June 30, 2023 | 990-EZ | $0 | $0 | $0 | $0 | $0 | $0 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $5,885,212
- Program service revenue
- $0
- Investment income
- $355,831
- Net gain from sales of assets
- $4,915
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $587,238
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $1,325
- Occupancy
- $15,033
- Program services (functional)
- $587,238
- Management and general (functional)
- $6,838
- Fundraising (functional)
- $40,137
Balance sheet and other
- Total assets, start of year
- $15,214,444
- Total assets, end of year
- $21,629,399
- Total liabilities, end of year
- $0
- Net assets, end of year
- $21,629,399
- Net assets without donor restrictions
- $827,403
- Net assets with donor restrictions
- $20,801,996
- Gross receipts
- $6,246,873
- Employees
- 0
- Volunteers
- 6
- Year formed
- 2023
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL MCCARTHY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| JANISHA SABNANI | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 |
| RICHARD BARKER | DIRECTOR Trustee or director | 1 | $0 |
| JAMES H HERBERT II | DRIECTOR Trustee or director | 1 | $0 |
| JOHN E KERRIGAN JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN COUCH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL MCCARTHY | PRESIDENT Trustee or director, Officer | 1 | $0 |
| JANISHA SABNANI | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 |
| RICHARD BARKER | DIRECTOR Trustee or director | 1 | $0 |
| JAMES H HERBERT II | DRIECTOR Trustee or director | 1 | $0 |
| JOHN E KERRIGAN JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN COUCH | DIRECTOR Trustee or director | 1 | $0 |
990-EZ for the year ended June 30, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD BARKER | DIRECTOR | 1 | $0 |
| JAMES H HERBERT II | DIRECTOR | 1 | $0 |
| JOHN E KERRIGAN JR | DIRECTOR | 1 | $0 |
| JOHN COUCH | DIRECTOR | 1 | $0 |
| MICHAEL MCCARTHY | PRESIDENT | 1 | $0 |
| JANISHA SABNANI | SECRETARY/TREASURER | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 475 14TH ST STE 290, OAKLAND, CA 94612-1936
- Principal officer (990 for 2024)
- MICHAEL MCCARTHY, 475 14TH STREET 290, OAKLAND, CA 94612
- Signed the 990
- MICHAEL MCCARTHY, CHAIRMAN & PRESIDENT
- Phone
- (415) 954-4400
- Return prepared by
- HOOD & STRONG LLP
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 accomplishments
- FUNDRAISING FOR, HOLDING AND MANAGING A FOUNDATION 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 FOR WHICH THE BASIC FUND WAS CREATED.Expenses $587,238 · grants $587,238
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 93-1637027
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2024
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T11)
- Assets (IRS master file)
- $21,629,399
- Income (IRS master file)
- $6,246,873
Filing history
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about BASIC FUND SCHOLARSHIP FOUNDATION
- What is the EIN of BASIC FUND SCHOLARSHIP FOUNDATION?
- The employer identification number (EIN) of BASIC FUND SCHOLARSHIP FOUNDATION is 93-1637027.
- Is BASIC FUND SCHOLARSHIP FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to BASIC FUND SCHOLARSHIP FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does BASIC FUND SCHOLARSHIP FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BASIC FUND SCHOLARSHIP FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BASIC FUND SCHOLARSHIP FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of BASIC FUND SCHOLARSHIP FOUNDATION?
- The 990 for the year ended June 30, 2025 names MICHAEL MCCARTHY.
- Who are the officers and directors of BASIC FUND SCHOLARSHIP FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does BASIC FUND SCHOLARSHIP FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $6,241,043, expenses of $634,213 and total assets of $21,629,399 at year end.
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