Civic Intelligence

Benjamin Franklin Educational Foundation Inc

990 • Fiscal year 2020 • EIN 04-3235190

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 06, 2020

Organization ProfileN/A
500 Financial ParkFranklin, MA 02038

(508) 541-3434

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

1.06x

Higher debt load relative to assets than 94% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

28.88x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

33rd percentile

-0.0%

Higher net margin than 33% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

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

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

96th percentile

92%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

744%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$62,821,625

Up $30,079,861 (+92%) from 2019

Net Assets

Down

-$3,656,800

Down $1,821,920 (-99%) from 2019

Liabilities

Up

$66,478,425

Up $31,901,781 (+92%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin33rd percentile

Revenue

Up

$2,301,826

Up $2,029,154 (+744%) from 2019

Expenses

Up

$2,302,278

Up $2,281,541 (+11002%) from 2019

Net Income

Down

-$452

Down $252,387 (-100%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2020

Assets$62,821,625
Liabilities$66,478,425
Net Assets-$3,656,800
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$2,301,826
Expenses$2,302,278
Net Income-$452
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 6, 2020
Return Version
2019v5.1
Gross Receipts
$2,301,826
Mission and Program Overview

Mission

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

Foundation has closed on financing to construct a new school building. Construction of the new school is complete and was occupied beginning in fy20.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,795,803$25,996,601▲ $200,798
Savings and Temporary Cash Investments$6,725,063$2,684,556▼ $4,040,507
Cash and Non-Interest-Bearing Accounts$210,898$128,385▼ $82,513
Prepaid Expenses and Deferred Charges$10,000$10,000→ $0
Total Assets$32,741,764$62,821,625▲ $30,079,861
Other Assets Total$0$34,002,083▲ $34,002,083
Liabilities
Deferred Revenue-$33,413,270-
Tax Exempt Bond Liabilities$24,550,000$24,550,000→ $0
Other Liabilities$4,898,376$6,299,361▲ $1,400,985
Mortgage Notes Payable Secured by Investment Property$1,979,567$1,991,270▲ $11,703
Accounts Payable and Accrued Expenses$3,148,701$224,524▼ $2,924,177
Total Liabilities$34,576,644$66,478,425▲ $31,901,781
Net Assets / Fund Balance
Net Assets With Donor Restrictions$80,300$0▼ $80,300
Net Assets Without Donor Restrictions$-1,915,180$-3,656,800▼ $1,741,620
Total Net Assets Fund Balance$-1,834,880$-3,656,800▼ $1,821,920
Total Liabilities and Net Assets / Fund Balance$32,741,764$62,821,625▲ $30,079,861

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,225,057$646,796$25,871,853
Other Land Buildings$394,539-$394,539
Land$377,005-$377,005
Other Assets Org$34,002,083--
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Edward BasilePresident
Heather ZolnowskiBoard Member
Jason FineBoard Member
Joe PernaBoard Member
Joseph MullenBoard Member
Zach ChewTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Cta Construction Co INCConstruction Service400 TOTTEN POND RD, Waltham, MA 02451$11,380,146
Daedalus Projects INCProject Manager1 FANEUIL HALL MARKETPLACE SOUTH M, Boston, MA 02109$238,705
Arrowstreet INCArchitecture Service10 POST OFFICE SQUARE, Boston, MA 02109$212,490
Whalley Computer AssociatesInformation TechnologyONE WHALLEY WAY, Southwick, MA 01077$112,959
Ockers CompanyInformation Technology830 W CHESTNUT STREET, Brockton, MA 02301$103,238
Revenue and Support

Revenue Composition

Contributions and Grants
$24,581
Program Service Revenue
$2,243,415
Investment Income
$33,830
Other Revenue
$0
All Other Contributions
$24,581
Change in Net Assets
$-452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,258,134
Grants and Similar Amounts Paid$44,144
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,610,149--$1,610,149
Depreciation Depletion$646,796--$646,796
Grants to Domestic Orgs$44,144--$44,144
Other Expenses-$1,189-$1,189
Total Functional Expenses$2,301,089$1,189$0$2,302,278
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Benjamin Franklin Classical Charter Public SchoolFranklin, MA509(a)(2)Operating Support to the School$44,144
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Liability$3,568,038
Due to School$2,731,323

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2018-01-04$24,550,000TO FUND CAPITAL PROJECTS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,550,000--$50,100

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
2020-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Basile
Formed
1994
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

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

Additional Explanations

FORM 990, PART XI, LINE 9:

“Losses on interest rate swap agreement -1,821,468.”

Raw XML AppendixShowing 400 of 462 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.

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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0211266
IRS990/PYOtherExpensesAmt020737
IRS990/PYOtherRevenueAmt0-2779
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0251935
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt020737
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0272672
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-452
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02243415
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06725063
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02684556
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 2020 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 SERVES OVER 445 STUDENTS 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 INCLUDE AN EVENT AND SOLICITATIONS FOR THE CONSTRUCTION OF ITS NEW GYM AND PLAYGROUND. ALTOGETHER THE FOUNDATION RAISED OVER $24,000 IN FISCAL YEAR 2020. THE FOUNDATION INVITES POTENTIAL DONORS TO VISIT THE SCHOOL AND TO ATTEND BOTH SPECIAL CULTIVATION EVENTS AND ROUTINE SCHOOL EVENTS. THE FOUNDATION HAS INITIATED A CAPITAL CAMPAIGN THAT IS EXPECTED TO ATTRACT NEW DONORS AND CONTINUE TO INCREASE PUBLIC SUPPORT OVER THE NEXT FEW YEARS. THE FOUNDATION HAS EXPANDED ITS FUNDRAISING PROGRAM OVER THE LAST FEW YEARS, INCREASING THE AMOUNT OF CONTRIBUTIONS RECEIVED AND EXPANDING ITS DONOR BASE, AND EXPECTS TO CONTINUE TO DO SO. FISCAL YEAR 2020 CAME OUT SHORT OF PROJECTIONS DUE TO THE OUTBREAK OF COVID-19 PANDEMIC IN MID MARCH 2020. PERCENTAGE OF FINANCIAL SUPPORT: AS SHOWN IN THE 2017 AND 2018 TAX RETURNS, THE PUBLIC SUPPORT PERCENTAGE FOR THE FOUNDATION WAS OVER 30% AND 22%, 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 EXPECTS 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/CurrentTaxYearAmt024581
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt064185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt07526
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt096292
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt033830
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0211266
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt017697
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt039
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0262884
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02243415
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.26030
IRS990ScheduleA/PublicSupportPY170Pct00.22510
IRS990ScheduleA/PublicSupportTotal170Amt093476
IRS990ScheduleA/SubstantialContributorsTotAmt02816
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt024581
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt064185
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt07526
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt096292
IRS990ScheduleA/TotalSupportAmt0359176
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt025225057
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0646796
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt025871853
IRS990ScheduleD/LandGrp/BookValueAmt0377005
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0377005
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt034002083
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASE RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0394539
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0394539
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02731323
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13568038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SCHOOL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST RATE SWAP LIABILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt025996601
IRS990ScheduleD/TotalBookValueOtherAssetsAmt034002083
IRS990ScheduleD/TotalLiabilityAmt06299361
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt044144
IRS990ScheduleI/RecipientTable/IRCSectionDesc0509(A)(2)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATING SUPPORT TO THE SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BENJAMIN FRANKLIN CLASSICAL CHARTER PUBLIC SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0043235190
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0500 FINANCIAL PARK
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FRANKLIN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002038
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE GRANT FUNDS ARE MONITORED AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeProviderName/BusinessNameLine1Txt0CITIZENS BANK
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeTerminatedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/SuperintegratedHedgeInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfHedgePct010.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02018-01-04
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0043431814
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt024550000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0TO FUND CAPITAL PROJECTS
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt021311937
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt01340862
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0651357
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt050100
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt024550000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt01195744
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/ExplanationTxt3LOSSES ON INTEREST RATE SWAP AGREEMENT -1,821,468.
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/BOYAmt024550000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt024550000
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt032741764
IRS990/TotalAssetsEOYAmt062821625
IRS990/TotalAssetsGrp/BOYAmt032741764
IRS990/TotalAssetsGrp/EOYAmt062821625
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt024581
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01189
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02301089
IRS990/TotalFunctionalExpensesGrp/TotalAmt02302278
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt034576644
IRS990/TotalLiabilitiesEOYAmt066478425
IRS990/TotalLiabilitiesGrp/BOYAmt034576644
IRS990/TotalLiabilitiesGrp/EOYAmt066478425

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$62,821,625
Liabilities
$66,478,425
Net assets
-$3,656,800
Revenue
$2,301,826
Expenses
$2,302,278
Net income
-$452
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