Civic Intelligence

Benjamin Franklin Educational Foundation

EIN 04-3235190 • 501(c)3 • Franklin, MA

Profile

To support the benjamin franklin classical charter public school which promotes a classical education.

500 Financial ParkFranklin, MA 02038

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

6th percentile

-48%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

8th percentile

-31%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets4th percentile

Assets

Down

$1,610

Down $60,530,994 (-100%) from 2022

Liabilities

Down

$0

Down $60,792,164 (-100%) from 2022

Net Assets

Up

$1,610

Up $261,170 (+101%) from 2022

Operations
Liabilities / Revenue5th percentileNet Margin6th percentile

Revenue

Down

$1,534,482

Down $685,175 (-31%) from 2022

Expenses

Down

$2,267,443

Down $23,225 (-1.0%) from 2022

Net Income

Down

-$732,961

Down $661,950 (-932%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth1st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0-$20MAssets 2011: $476,293Liabilities 2011: $279,288Net Assets 2011: $197,0052011Assets 2012: $467,738Liabilities 2012: $281,100Net Assets 2012: $186,6382012Assets 2013: $453,992Liabilities 2013: $275,675Net Assets 2013: $178,3172013Assets 2014: $441,153Liabilities 2014: $275,000Net Assets 2014: $166,1532014Assets 2015: $429,789Liabilities 2015: $288,460Net Assets 2015: $141,3292015Assets 2016: $1,197,454Liabilities 2016: $1,117,894Net Assets 2016: $79,5602016Assets 2017: $1,619,547Liabilities 2017: $1,551,609Net Assets 2017: $67,9382017Assets 2018: $30,377,284Liabilities 2018: $30,949,512Net Assets 2018: -$572,2282018Assets 2019: $32,741,764Liabilities 2019: $34,576,644Net Assets 2019: -$1,834,8802019Assets 2020: $62,821,625Liabilities 2020: $66,478,425Net Assets 2020: -$3,656,8002020Assets 2021: $62,114,339Liabilities 2021: $64,512,661Net Assets 2021: -$2,398,3222021Assets 2022: $60,532,604Liabilities 2022: $60,792,164Net Assets 2022: -$259,5602022Assets 2023: $1,610Liabilities 2023: $0Net Assets 2023: $1,6102023

Highlighted filing

2023

Assets$1,610
Liabilities$0
Net Assets$1,610
Open 2023 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $5,443Expenses 2011: $10,338Net Income 2011: -$4,8952011Revenue 2012: $5,055Expenses 2012: $15,422Net Income 2012: -$10,3672012Revenue 2013: $2,325Expenses 2013: $10,646Net Income 2013: -$8,3212013Revenue 2014: $253Expenses 2014: $12,417Net Income 2014: -$12,1642014Revenue 2015: $55Expenses 2015: $24,879Net Income 2015: -$24,8242015Revenue 2016: $52Expenses 2016: $61,821Net Income 2016: -$61,7692016Revenue 2017: $39Expenses 2017: $11,661Net Income 2017: -$11,6222017Revenue 2018: $25,223Expenses 2018: $433,406Net Income 2018: -$408,1832018Revenue 2019: $272,672Expenses 2019: $20,737Net Income 2019: $251,9352019Revenue 2020: $2,301,826Expenses 2020: $2,302,278Net Income 2020: -$4522020Revenue 2021: $2,234,692Expenses 2021: $2,240,348Net Income 2021: -$5,6562021Revenue 2022: $2,219,657Expenses 2022: $2,290,668Net Income 2022: -$71,0112022Revenue 2023: $1,534,482Expenses 2023: $2,267,443Net Income 2023: -$732,9612023

Highlighted filing

2023

Revenue$1,534,482
Expenses$2,267,443
Net Income-$732,961
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,610
Liabilities
$0
Net assets
$1,610
Revenue
$1,534,482
Expenses
$2,267,443
Net income
-$732,961
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.53$2.27$0.73
2022Detailed filing. Detailed filing data is available for this year.$60.5$60.8$0.26$2.22$2.29$0.07
2021Detailed filing. Detailed filing data is available for this year.$62.1$64.5$2.40$2.23$2.24$0.01
2020Detailed filing. Detailed filing data is available for this year.$62.8$66.5$3.66$2.30$2.30$0.00
2019Detailed filing. Detailed filing data is available for this year.$32.7$34.6$1.83$0.27$0.02$0.25
2018Detailed filing. Detailed filing data is available for this year.$30.4$30.9$0.57$0.03$0.43$0.41
2017Detailed filing. Detailed filing data is available for this year.$1.62$1.55$0.07$0.00$0.01$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.20$1.12$0.08$0.00$0.06$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.29$0.14$0.00$0.02$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.28$0.17$0.00$0.01$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.28$0.18$0.00$0.01$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.28$0.19$0.01$0.02$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.28$0.20$0.01$0.01$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 27, 2023
Return Version
2022v5.0
Gross Receipts
$27,919,832
Mission and Program Overview

Mission

To support the benjamin franklin classical charter public school which promotes a classical education.

Foundation was formed to provide support for the mission of the school through undertaking a capital campaign to secure land and a building for a permanent facility and through capital investments in the school's library and other academic enrichment programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,621,790--
Savings and Temporary Cash Investments$652,217--
Prepaid Expenses and Deferred Charges$10,000--
Cash and Non-Interest-Bearing Accounts$119,058$1,610▼ $117,448
Other Assets Total$33,129,539$0▼ $33,129,539
Total Assets$60,532,604$1,610▼ $60,530,994
Liabilities
Deferred Revenue$31,699,766--
Tax Exempt Bond Liabilities$24,360,418--
Other Liabilities$2,883,732$0▼ $2,883,732
Mortgage Notes Payable Secured by Investment Property$1,824,105--
Accounts Payable and Accrued Expenses$24,143--
Total Liabilities$60,792,164$0▼ $60,792,164
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-259,560$1,610▲ $261,170
Total Net Assets Fund Balance$-259,560$1,610▲ $261,170
Total Liabilities and Net Assets / Fund Balance$60,532,604$1,610▼ $60,530,994
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Edward BasilePresident and Secretary
Heather ZolnowskiBoard Member
Jason FineBoard Member
Joe PernaBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Cta Constructions Managers LLCConstruction Service400 TOTTEN POND ROAD 2ND FLOOR, Waltham, MA 02451$138,069
Revenue and Support

Revenue Composition

Contributions and Grants
$135
Program Service Revenue
$915,283
Investment Income
$619,064
Other Revenue
$0
All Other Contributions
$135
Change in Net Assets
$-732,961
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,267,443
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$565,027--$565,027
Depreciation Depletion$236,440--$236,440
Other Expenses-$10,493-$10,493
Total Functional Expenses$801,467$1,465,976$0$2,267,443
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is prepared by the foundation's audit firm. The completed copy is made available to and approved by the board.”

Form 990, Part VI, Section B, Line 12

“The foundation regularly monitors conflicts of interest through board meeting review.”

Form 990, Part VI, Section C, Line 19

“The foundation is included in the annual audit of the benjamin franklin classical public charter school's audit filed with the commonwealth of massachusetts and is available upon request. Other governing documents and policies are available to the public upon request.”

Form 990, Part VII, Line 2C

“The process has not changed from the prior year.”

Filing and Contact Details

Filer

Filer Name
Benjamin Franklin Educational Foundation
EIN
04-3235190
Phone
5085413434
Address
500 FINANCIAL PARK, FRANKLIN, MA 02038

Signing Officer

Name
Edward Basile
Title
President
Phone
5085413434
Signed
2023-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Basile
Formed
1994
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
John Buckley CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on interest rate swap agreement 994,131.”

Raw XML Appendix350 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt024143
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0FOUNDATION WAS FORMED TO PROVIDE SUPPORT FOR THE MISSION OF THE SCHOOL THROUGH UNDERTAKING A CAPITAL CAMPAIGN TO SECURE LAND AND A BUILDING FOR A PERMANENT FACILITY AND THROUGH CAPITAL INVESTMENTS IN THE SCHOOL'S LIBRARY AND OTHER ACADEMIC ENRICHMENT PROGRAMS.
IRS990/AllOtherContributionsAmt0135
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0HEATHER ZOLNOWSKI
IRS990/BooksInCareOfDetail/PhoneNum05085413434
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0500 FINANCIAL PARK
IRS990/BooksInCareOfDetail/USAddress/CityNm0FRANKLIN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd002038
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0119058
IRS990/CashNonInterestBearingGrp/EOYAmt01610
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/ContractorCompensationGrp/CompensationAmt0138069
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0400 TOTTEN POND ROAD 2ND FLOOR
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0WALTHAM
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd002451
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0CTA CONSTRUCTIONS MANAGERS LLC
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION SERVICE
IRS990/ContractTerminationInd0X
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0135
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0619064
IRS990/CYOtherExpensesAmt02267443
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0915283
IRS990/CYRevenuesLessExpensesAmt0-732961
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt02267443
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01534482
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt031699766
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0236440
IRS990/DepreciationDepletionGrp/TotalAmt0236440
IRS990/Desc0TO PROMOTE THE FINANCIAL WELL-BEING OF THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0801467
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.75
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.75
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.75
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.75
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/PersonNm0EDWARD BASILE
IRS990/Form990PartVIISectionAGrp/PersonNm1JASON FINE
IRS990/Form990PartVIISectionAGrp/PersonNm2HEATHER ZOLNOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm3JOE PERNA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT AND SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01994
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0618261
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt04
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt027003611
IRS990/GrossReceiptsAmt027919832
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt0803
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt0803
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/ProgramServicesAmt0565027
IRS990/InterestGrp/TotalAmt0565027
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt026621790
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt026385350
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO SUPPORT THE BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL WHICH PROMOTES A CLASSICAL EDUCATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01824105
IRS990/NetAssetsOrFundBalancesBOYAmt0-259560
IRS990/NetAssetsOrFundBalancesEOYAmt01610
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0618261
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0618261
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-259560
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01610
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt033129539
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0994131
IRS990/OtherExpensesGrp/Desc0LOSS ON CANCELLATION OF
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01455483
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110493
IRS990/OtherExpensesGrp/TotalAmt01455483
IRS990/OtherExpensesGrp/TotalAmt110493
IRS990/OtherLiabilitiesGrp/BOYAmt02883732
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/PartialLiquidationInd01
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt010000
IRS990/PrincipalOfficerNm0EDWARD BASILE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0915283
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0915283
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02200
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt02000
IRS990/PYInvestmentIncomeAmt0372
IRS990/PYOtherExpensesAmt02288668
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02217085
IRS990/PYRevenuesLessExpensesAmt0-71011
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02290668
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02219657
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-732961
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0915283
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0652217
IRS990ScheduleA/FactsAndCircumstancesTestTxt0BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION, INC. (THE "FOUNDATION") QUALIFIES AS A PUBLICLY SUPPORTED ORGANIZATION BECAUSE IT COMFORTABLY SATISFIES THE FACTS AND CIRCUMSTANCES TEST, PURSUANT TO TREAS. REG. 1.170A-9(F)(3). TEN-PERCENT SUPPORT LIMITATION: THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE FOR FISCAL YEAR 2023 WAS APPROXIMATELY 26%. ATTRACTION OF PUBLIC SUPPORT: THE FOUNDATION IS ORGANIZED AND OPERATED TO ATTRACT NEW AND ADDITIONAL PUBLIC SUPPORT ON A CONTINUOUS BASIS DUE TO ITS PUBLIC CHARITABLE MISSION. THE FOUNDATION IS ORGANIZED AND OPERATED TO SUPPORT BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL, A MASSACHUSETTS PUBLIC CHARTER SCHOOL (THE "SCHOOL"). THE SCHOOL IS A PUBLIC INSTITUTION WHICH SERVED 863 STUDENTS DURING FISCAL YEAR 2023 CHOSEN BY RANDOM PUBLIC LOTTERY. DUE TO ITS RELATIONSHIP WITH THE SCHOOL, THE FOUNDATION IS ALSO SUBJECT TO PUBLIC OVERSIGHT; ITS FINANCIALS ARE COMBINED WITH THE SCHOOL'S FINANCIALS, AND ARE SUBMITTED TO THE MASSACHUSETTS DEPARTMENT OF ELEMENTARY AND SECONDARY EDUCATION ON AN ANNUAL BASIS.CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITATION OF FUNDS: THE FOUNDATION'S FUNDRAISING ACTIVITIES INCLUDED AN EVENT AND SOLICITATIONS FOR THE CONSTRUCTION OF ITS NEW GYM AND PLAYGROUND. THE FOUNDATION INVITED POTENTIAL DONORS TO VISIT THE SCHOOL AND TO ATTEND BOTH SPECIAL CULTIVATION EVENTS AND ROUTINE SCHOOL EVENTS. THE FOUNDATION HAD INITIATED A CAPITAL CAMPAIGN THAT WAS EXPECTED TO ATTRACT NEW DONORS AND CONTINUE TO INCREASE PUBLIC SUPPORT OVER THE NEXT FEW YEARS. PERCENTAGE OF FINANCIAL SUPPORT: AS SHOWN IN THE 2020 AND 2021 TAX RETURNS, THE PUBLIC SUPPORT PERCENTAGE FOR THE FOUNDATION WAS APPROXIMATELY 26% AND 26%, RESPECTIVELY. THE FOUNDATION EXPECTS ITS PUBLIC SUPPORT PERCENTAGE TO CONTINUE TO EXCEED 10% BY A SIGNIFICANT MARGIN IN THE FUTURE. THE MAIN REASON WHY THE PUBLIC SUPPORT PERCENTAGE IS BELOW 33 1/3% IS DUE TO INTEREST INCOME EARNED ON TAX EXEMPT BONDS DURING THE CONSTRUCTION PERIOD.SOURCES OF SUPPORT: MOVING FORWARD, THE FOUNDATION EXPECTED TO RECEIVE FEWER FUNDS FROM REVENUE SOURCES THAT DO NOT QUALIFY AS PUBLIC SUPPORT AND EXPECTS TO RECEIVE A GREATER PERCENTAGE OF ITS REVENUE FROM GIFTS, GRANTS, AND CONTRIBUTIONS. REPRESENTATIVE GOVERNING BODY: THE FOUNDATION'S BOARD OF DIRECTORS REPRESENTS THE BROAD INTERESTS OF THE PUBLIC, RATHER THAN THE PERSONAL OR PRIVATE INTERESTS OF A LIMITED NUMBER OF DONORS.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0135
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0285
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt024581
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt064185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt091386
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0803
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0372
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02074
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt033830
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0211266
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0248345
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt07608116
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.25960
IRS990ScheduleA/PublicSupportPY170Pct00.26390
IRS990ScheduleA/PublicSupportTotal170Amt088181
IRS990ScheduleA/SubstantialContributorsTotAmt03205
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0135
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02200
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0285
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt024581
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt064185
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt091386
IRS990ScheduleA/TotalSupportAmt0339731
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0BUILDING AND LAND
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02022-11-08
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0562393622
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt026385350
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0CHARTER SCHOOL
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE OF THE BUILDING AND LAND
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0500 FINANCIAL PARK
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0FRANKLIN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0MA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd002038
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PREPARED BY THE FOUNDATION'S AUDIT FIRM. THE COMPLETED COPY IS MADE AVAILABLE TO AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION REGULARLY MONITORS CONFLICTS OF INTEREST THROUGH BOARD MEETING REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION IS INCLUDED IN THE ANNUAL AUDIT OF THE BENJAMIN FRANKLIN CLASSICAL PUBLIC CHARTER SCHOOL'S AUDIT FILED WITH THE COMMONWEALTH OF MASSACHUSETTS AND IS AVAILABLE UPON REQUEST. OTHER GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GAIN ON INTEREST RATE SWAP AGREEMENT 994,131.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt024360418
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt060532604
IRS990/TotalAssetsEOYAmt01610
IRS990/TotalAssetsGrp/BOYAmt060532604
IRS990/TotalAssetsGrp/EOYAmt01610
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0135
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01465976
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0801467
IRS990/TotalFunctionalExpensesGrp/TotalAmt02267443
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt060792164
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt060792164
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-259560
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01610
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0801467
IRS990/TotalProgramServiceRevenueAmt0915283
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0619064
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0915283
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01534482
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt060532604
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01610
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 FINANCIAL PARK
IRS990/USAddress/CityNm0FRANKLIN
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002038
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWARD BASILE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05085413434
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BENJAMIN FRANKLIN EDUCATIONAL FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0BENJ
ReturnHeader/Filer/EIN0043235190
ReturnHeader/Filer/PhoneNum05085413434
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 FINANCIAL PARK
ReturnHeader/Filer/USAddress/CityNm0FRANKLIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002038
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AAFCPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05083669100
ReturnHeader/PreparerPersonGrp/PreparationDt02023-10-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN BUCKLEY CPA
ReturnHeader/ReturnTs02023-10-30T16:04:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EDWARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BASILE
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.