Nonprofit · EIN 94-3290699
BASIC FUND
Tax-exempt · OAKLAND, CA 94612
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $12,189,550 | $9,964,545 | $2,225,005 | $24,161,414 | $306,095 | $23,855,319 |
| June 30, 2024 | 990 | $15,579,251 | $17,216,390 | -$1,637,139 | $21,853,396 | $565,198 | $21,288,198 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $11,691,478
- Program service revenue
- $0
- Investment income
- $498,072
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $7,758,315
- Compensation of officers, directors and key employees
- $434,760
- Other salaries and wages
- $863,093
- Salaries, compensation and benefits (total)
- $1,529,829
- Professional fundraising fees
- $0
- Legal fees
- $543
- Accounting fees
- $3,000
- Occupancy
- $133,290
- Travel
- $6,271
- Depreciation
- $12,246
- Program services (functional)
- $8,712,795
- Management and general (functional)
- $305,397
- Fundraising (functional)
- $946,353
Balance sheet and other
- Total assets, start of year
- $21,853,396
- Total assets, end of year
- $24,161,414
- Total liabilities, end of year
- $306,095
- Net assets, end of year
- $23,855,319
- Land, buildings and equipment
- $19,439
- Publicly traded securities
- $14,138,329
- Net assets without donor restrictions
- $4,581,552
- Net assets with donor restrictions
- $19,273,767
- Gross receipts
- $42,828,423
- Employees
- 13
- Volunteers
- 23
- Year formed
- 1997
- 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 |
|---|---|---|---|
| LAURA REED | CHIEF ADVANCEMENT OFFICER Key employee | 50 | $205,800 |
| RACHEL ELGINSMITH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 50 | $199,900 |
| JAMES H HERBERT II | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| BRIAN GRIGGS | PRESIDENT Trustee or director, Officer | 1 | $0 |
| JOHN COUCH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JEREMY PETERS | TREASURER Trustee or director, Officer | 1 | $0 |
| JANISHA SABNANI | DEPUTY GENERAL COUNSEL Trustee or director | 1 | $0 |
| LAUREL BROWMAN | DIRECTOR Trustee or director | 1 | $0 |
| CRYSTAL BRYANT | DIRECTOR Trustee or director | 1 | $0 |
| JONO GRAYSON | DIRECTOR Trustee or director | 1 | $0 |
| JURGEN HUCK | DIRECTOR Trustee or director | 1 | $0 |
| RUPERT H JOHNSON JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN C KERN JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN E KERRIGAN JR | DIRECTOR Trustee or director | 1 | $0 |
| TED KRUTTSCHNITT | DIRECTOR Trustee or director | 1 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RONNIE LOTT | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL MCCARTHY | DIRECTOR Trustee or director | 1 | $0 |
| TIM RANZETTA | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM T RING | DIRECTOR Trustee or director | 1 | $0 |
| MARTIN ROMO | DIRECTOR Trustee or director | 1 | $0 |
| ERIC A SCHWARTZ | DIRECTOR Trustee or director | 1 | $0 |
| WARREN E SPIEKER JR | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 25 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RACHEL ELGINSMITH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 50 | $194,800 |
| CHRISTINE WEISS | CHIEF ADVANCEMENT OFFICER Trustee or director, Officer | 50 | $136,003 |
| JAMES H HERBERT II | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| BRIAN GRIGGS | PRESIDENT Trustee or director, Officer | 1 | $0 |
| JOHN COUCH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| JEREMY PETERS | TREASURER Trustee or director, Officer | 1 | $0 |
| JANISHA SABNANI | DEPUTY GENERAL COUNSEL Trustee or director | 1 | $0 |
| RICHARD C BARKER | DIRECTOR Trustee or director | 1 | $0 |
| LAUREL BROWMAN | DIRECTOR Trustee or director | 1 | $0 |
| CRYSTAL BRYANT | DIRECTOR Trustee or director | 1 | $0 |
| JEFFREY G EDWARDS | DIRECTOR Trustee or director | 1 | $0 |
| JONO GRAYSON | DIRECTOR Trustee or director | 1 | $0 |
| JURGEN HUCK | DIRECTOR Trustee or director | 1 | $0 |
| RUPERT H JOHNSON JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN C KERN JR | DIRECTOR Trustee or director | 1 | $0 |
| JOHN E KERRIGAN JR | DIRECTOR Trustee or director | 1 | $0 |
| TED KRUTTSCHNITT | DIRECTOR Trustee or director | 1 | $0 |
| RONNIE LOTT | DIRECTOR Trustee or director | 1 | $0 |
| MARISSA MAR | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL MCCARTHY | DIRECTOR Trustee or director | 1 | $0 |
| TIM RANZETTA | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM T RING | DIRECTOR Trustee or director | 1 | $0 |
| MARTIN ROMO | DIRECTOR Trustee or director | 1 | $0 |
| ERIC A SCHWARTZ | DIRECTOR Trustee or director | 1 | $0 |
| WARREN E SPIEKER JR | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1301 CLAY ST UNIT 70450, OAKLAND, CA 94612-5514
- In care of
- % RACHEL ELGINSMITH
- Principal officer (990 for 2024)
- RACHEL ELGINSMITH, 475 14TH STREET 290, OAKLAND, CA 94612
- Signed the 990
- RACHEL ELGINSMITH, CHIEF EXECUTIVE OFFICER
- Phone
- (415) 986-5650
- Return prepared by
- HOOD & STRONG LLP
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 accomplishments
- 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.Expenses $8,712,795 · grants $7,758,315
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
- 94-3290699
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B820)
- Assets (IRS master file)
- $24,161,414
- Income (IRS master file)
- $42,828,423
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | – | – | – | IRS |
| 990 | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $8,573,960 | $9,630,729 | $23,129,936 | IRS |
| 990 | June 2022 | $9,421,973 | $9,556,741 | $23,502,708 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
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
- What is the EIN of BASIC FUND?
- The employer identification number (EIN) of BASIC FUND is 94-3290699.
- Is BASIC FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to BASIC FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BASIC FUND 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 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 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?
- The 990 for the year ended June 30, 2025 names RACHEL ELGINSMITH.
- Who are the officers and directors of BASIC FUND?
- The 990 for the year ended June 30, 2025 lists 22 people; 2 received compensation from the organization, the highest $205,800 (LAURA REED, CHIEF ADVANCEMENT OFFICER).
- How much revenue does BASIC FUND have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $12,189,550, expenses of $9,964,545 and total assets of $24,161,414 at year end.
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