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Nonprofiteer
← BENEFICENT TECHNOLOGY INC

Form 990 for tax year 2023

Filed by BENEFICENT TECHNOLOGY INC.

Totals

Total revenue
$10,927,375
Total expenses
$14,038,123
Contributions and grants received
$9,778,173
Grants paid
$2,368,043
Program service revenue
$1,089,769
Investment income
$59,433
Other revenue
$0
Total assets, end of year
$2,547,397
Total liabilities, end of year
$1,467,773
Net assets or fund balances, end of year
$1,079,624
Program services expenses (Part IX)
$11,572,732
Management and general expenses
$2,200,547
Fundraising expenses
$264,844
Program service expenses (Part III)
$11,572,732

Program services were 82.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $8,723,783

  • 1f · All other contributions, gifts and grants

    $1,054,390

  • 2a · Program service revenue: GLOBAL LITERACY

    total $1,089,769 · related or exempt $1,089,769

  • 3 · Investment income

    total $59,433 · excluded $59,433

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,368,043 · program services $2,368,043

  • 5 · Compensation of officers, directors and key employees

    total $1,143,556 · program services $888,652 · management and general $222,505 · fundraising $32,399

  • 7 · Other salaries and wages

    total $5,605,835 · program services $4,356,266 · management and general $1,090,745 · fundraising $158,824

  • 8 · Pension plan contributions

    total $112,748 · program services $87,616 · management and general $21,938 · fundraising $3,194

  • 9 · Other employee benefits

    total $1,220,303 · program services $948,291 · management and general $237,438 · fundraising $34,574

  • 13 · Office expenses

    total $249,715 · program services $196,726 · management and general $49,772 · fundraising $3,217

  • 17 · Travel

    total $116,278 · program services $88,286 · management and general $26,906 · fundraising $1,086

  • 19 · Conferences, conventions and meetings

    total $159,290 · program services $138,692 · management and general $19,916 · fundraising $682

  • 22 · Depreciation, depletion and amortization

    total $15,910 · program services $2,245 · management and general $13,578 · fundraising $87

  • 23 · Insurance

    total $22,543 · program services $17,774 · management and general $4,235 · fundraising $534

  • 24a · Other expenses: OUTSIDE SERVICES

    total $1,577,875 · program services $1,098,197 · management and general $456,259 · fundraising $23,419

  • 24b · Other expenses: COMMUNICATIONS

    total $622,677 · program services $603,929 · management and general $16,026 · fundraising $2,722

  • 24c · Other expenses: BOOK COLLECTION & DEVEL

    total $566,547 · program services $566,547

  • 24d · Other expenses: FACILITY & OTHER OFFICE

    total $124,867 · program services $99,226 · management and general $23,896 · fundraising $1,745

  • 24e · All other expenses

    total $131,936 · program services $112,242 · management and general $17,333 · fundraising $2,361

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,495,839 · end of year $635,382

  • 2 · Savings and temporary cash investments

    beginning of year $861,652 · end of year $902,610

  • 3 · Pledges and grants receivable

    beginning of year $2,571,740 · end of year $748,330

  • 4 · Accounts receivable

    beginning of year $229,350 · end of year $92,281

  • 9 · Prepaid expenses and deferred charges

    beginning of year $204,992 · end of year $150,514

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $32,001 · end of year $16,091

  • 15 · Other assets

    beginning of year $175,993 · end of year $2,189

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,118,788 · end of year $734,146

  • 19 · Deferred revenue

    beginning of year $563,959 · end of year $283,627

  • 25 · Other liabilities

    beginning of year $698,448 · end of year $450,000

  • 27 · Net assets without donor restrictions

    beginning of year $513,940 · end of year $320,202

  • 28 · Net assets with donor restrictions

    beginning of year $3,676,432 · end of year $759,422

Mission and programs · 2023

Mission

BENETECH IS DRAMATICALLY IMPROVING EDUCATION EQUITY IN PARTNERSHIP WITH THE COMMUNITIES THAT IT SERVES THROUGH ITS TECHNOLOGY, PROGRAMS AND SERVICES, CATERING TO THE HISTORICALLY UNDERSERVED POPULATION OF 1 IN 5 STUDENTS WHO LEARN DIFFERENTLY. BENETECH BELIEVES THAT EQUITABLE

Activities or mission (Part I)

BENETECH IS A NONPROFIT THAT EMPOWERS COMMUNITIES WITH SOFTWARE FOR SOCIAL GOOD.

  • ACCESSIBLE EDUCATION CONTENT AND TECHNOLOGY:BENETECH HAS BEEN DELIVERING INCLUSIVE LEARNING SOLUTIONS FOR OVER 20 YEARS AS THE DEVELOPER OF BOOKSHARE, THE WORLD'S LARGEST SERVICE FOR ACCESSIBLE EDUCATION MATERIALS. BENETECH IS TRANSFORMING HOW EDUCATIONAL CONTENT IS MADE ACCESSIBLE THROUGH INITIATIVES LIKE BOOKSHARE AND ITS GLOBAL CERTIFIED ACCESSIBLE (GCA) PROGRAM. THROUGH THE BOOKSHARE PLATFORM, BENETECH PROVIDES THE WORLD'S LARGEST ONLINE SERVICE FOR ACCESSIBLE E-BOOKS DELIVERING MORE THAN 20 MILLION E-BOOKS AND MATERIALS THAT HAVE SERVED OVER 1.5 MILLION LEARNERS. BENETECH BOOKSHARE MEMBERS READ BOOKS IN FORMATS THAT WORK BEST FOR THEM, WHETHER IT BE AUDIO, TYPOGRAPHY MANIPULATION, WORD HIGHLIGHTS SYNCED WITH AUDIO AND SO ON THROUGH THE BROWSER, MOBILE APPLICATION OR OTHER ASSISTIVE TECHNOLOGY (AT) OF CHOICE. BENETECH'S GOAL FOR ALL LEARNERS IS TO IMPROVE LITERACY AND FOSTER A LOVE FOR LIFE-LONG LEARNING. BENETECH CONTINUES TO SCALE AND INNOVATE, INCLUDING TAKING ON THE NEXT FRONTIER OF LEARNING CONTENT BY MAKING STEM ACCESSIBLE AND EQUITABLE FOR ALL LEARNERS. THE BORN ACCESSIBLE, GCA INITIATIVE CONTINUES TO DRIVE SYSTEM CHANGE IN THE PUBLISHING INDUSTRY, PARTNERING WITH PUBLISHERS TO MAKE BOOKS ACCESSIBLE WHEN THEY ARE CREATED.INCLUSIVE EDUCATION CAPACITY BUILDING AND COMMUNITY ENGAGEMENT:BENETECH IS DEEPENING ITS IMPACT ON EQUITY IN EDUCATION BY WORKING CLOSELY WITH COMMUNITY-BASED ORGANIZATIONS, SCHOOLS, DISTRICTS AND MORE, TO IDENTIFY AND PROVIDE STUDENTS AND THOSE SERVING THEM, SUCH AS AFTER SCHOOL PROGRAMS, THE SUPPORT THEY NEED. DOMESTICALLY, BENETECH IS EXPANDING ITS LOCAL OUTREACH PROGRAMS ACROSS URBAN AND RURAL COMMUNITIES IN NEED - SUCH AS ATLANTA, ALBUQUERQUE, DETROIT, LAS VEGAS AND MEMPHIS - AND ARE BUILDING A MODEL FOR PLACE-BASED CHANGE TO CLOSE LEARNING GAPS.BENETECH SERVES LEARNERS IN OVER 90 COUNTRIES DIRECTLY OR THROUGH PARTNERS AND PROVIDE CAPACITY BUILDING SERVICES FOR INCLUSIVE EDUCATION AND EDUCATION FOR STUDENTS WITH DISABILITIES, PARTICULARLY IN LOW AND MIDDLE INCOME COUNTRIES. BENETECH SUPPORTS SCHOOLS FOR DIGITAL TRANSFORMATION TO EMBRACE INCLUSIVE EDUCATION THROUGH DIGITAL LITERACY AND DIGITAL PEDAGOGY. BENETECH PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO EDUCATORS TO EFFECTIVELY USE ACCESSIBLE CONTENT AND TECHNOLOGY.

    Expenses $9,192,527 · Revenue $1,089,769

  • HUMAN RIGHTS: BENETECH'S PRIOR, ADDITIONAL WORK SPECIFIC TO HUMAN RIGHTS HAS TRANSITIONED TO PARTNERS IN THOSE COMMUNITIES.

    Expenses $12,162

  • TECH MATTERS: THIS FISCALLY SPONSORED PROJECT WORKS IN THREE AREAS: BUILDING THE TECH FOR SOCIAL GOOD FIELD, ASSISTING CRISIS RESPONSE HELPLINES, AND SUPPORTING LOCAL LEADERS AROUND THE WORLD. FIELD-BUILDING WORK INCLUDES NO-CHARGE CONSULTING TO NONPROFIT LEADERS, A PODCAST FEATURING TECH FOR GOOD LEADERS, PUBLIC SPEAKING AND WRITTEN ARTICLES. ASELO IS AN OPEN-SOURCE CONTACT CENTER PLATFORM DESIGNED SPECIFICALLY FOR THE NEEDS OF CRISIS RESPONSE HELPLINES WHICH DO COUNSELING, REFERRAL AND CASE MANAGEMENT. TERRASO IS AN OPEN SOURCE, ONLINE PLATFORM BEING BUILT FOR LOCAL LEADERS TO ACCESS THE TOOLS, DATA AND FUNDING THEY NEED TO BUILD MORE SUSTAINABLE AND REGENERATIVE LOCAL ECONOMIES AGAINST THE BACKDROP OF CLIMATE CHANGE.ON JANUARY 24, 2023, TECH MATTERS OBTAINED ITS TAX-EXEMPT STATUS UNDER IRS 501(C), AS SUCH, BENETECH ENDED ITS FISCAL SPONSORSHIP AGREEMENT WITH TECH MATTERS.BENETECH IS VULNERABLE TO THE INHERENT RISKS ASSOCIATED WITH REVENUE THAT IS SUBSTANTIALLY DEPENDENT ON GOVERNMENT FUNDING, PUBLIC SUPPORT, AND CONTRIBUTIONS. THE CONTINUED GROWTH AND WELL-BEING OF BENETECH IS CONTINGENT UPON SUCCESSFUL ACHIEVEMENT OF ITS LONG-TERM REVENUE-RAISING GOALS.

    Expenses $2,368,043 · Grants $2,368,043

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GERARDO CAPIEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAYANNE DARENSBOURG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIM ELDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THERESA FAY-BUSTILLOS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEVIN LO

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • YOKO NAKAO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEMA SUNDARRAJ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHERINE SCHNEIDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TAMARA RORIE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JUNE KLEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES FRUCHTERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AYAN KISHORE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $335,084
    From this org
    $302,254
    From related orgs
    $0
    Other
    $32,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,254
    Bonus
    $0
    Other
    $0
    Deferred
    $6,200
    Nontaxable benefits
    $26,630
    Filer's total
    $335,084

  • MICHAEL JOHNSON

    VP CONTENT

    Total calculated
    $218,014
    From this org
    $178,255
    From related orgs
    $0
    Other
    $39,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,255
    Bonus
    $0
    Other
    $0
    Deferred
    $3,640
    Nontaxable benefits
    $36,119
    Filer's total
    $218,014

  • LISA WADORS VERNE

    VP PROGRAMS

    Total calculated
    $219,718
    From this org
    $178,011
    From related orgs
    $0
    Other
    $41,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,011
    Bonus
    $0
    Other
    $0
    Deferred
    $3,288
    Nontaxable benefits
    $38,419
    Filer's total
    $219,718

  • AARON FIRESTONE

    VP DATA INSIGHTS

    Total calculated
    $199,597
    From this org
    $168,214
    From related orgs
    $0
    Other
    $31,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,214
    Bonus
    $5,000
    Other
    $0
    Deferred
    $3,013
    Nontaxable benefits
    $28,370
    Filer's total
    $199,597

  • MATTHEW YIP

    VP PRODUCT & ENGINEERING

    Total calculated
    $171,145
    From this org
    $157,125
    From related orgs
    $0
    Other
    $14,020
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,125
    Bonus
    $0
    Other
    $0
    Deferred
    $2,167
    Nontaxable benefits
    $11,853
    Filer's total
    $171,145

  • CHARLES MARK LAPIERRE

    ARCHITECT

    Total calculated
    $217,115
    From this org
    $179,990
    From related orgs
    $0
    Other
    $37,125
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,990
    Bonus
    $0
    Other
    $0
    Deferred
    $3,775
    Nontaxable benefits
    $33,350
    Filer's total
    $217,115

  • JOHN BRUGGE

    ENGINEERING MANAGER

    Total calculated
    $225,665
    From this org
    $170,389
    From related orgs
    $0
    Other
    $55,276
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,389
    Bonus
    $0
    Other
    $0
    Deferred
    $3,552
    Nontaxable benefits
    $51,724
    Filer's total
    $225,665

  • JACOB A BROWNELL

    PRINCIPAL ENGINEER

    Total calculated
    $184,778
    From this org
    $172,061
    From related orgs
    $0
    Other
    $12,717
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,061
    Bonus
    $0
    Other
    $0
    Deferred
    $3,490
    Nontaxable benefits
    $9,227
    Filer's total
    $184,778

  • RONALD K ELLIS III

    SENIOR ENGINEER

    Total calculated
    $178,926
    From this org
    $165,770
    From related orgs
    $0
    Other
    $13,156
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,770
    Bonus
    $0
    Other
    $0
    Deferred
    $3,365
    Nontaxable benefits
    $9,791
    Filer's total
    $178,926

  • KATHRYN BEEHLER

    SENIOR PRODUCT MANAGER

    Total calculated
    $166,075
    From this org
    $155,177
    From related orgs
    $0
    Other
    $10,898
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,177
    Bonus
    $0
    Other
    $0
    Deferred
    $3,125
    Nontaxable benefits
    $7,773
    Filer's total
    $166,075

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443209349300634

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