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Nonprofiteer
← BOSTON SCHOOLS FUND INC

Form 990 for tax year 2023

Filed by BOSTON SCHOOLS FUND INC.

Totals

Total revenue
$2,132,351
Total expenses
$3,033,665
Contributions and grants received
$2,125,500
Grants paid
$868,642
Program service revenue
$0
Investment income
$3,651
Other revenue
$3,200
Total assets, end of year
$1,111,249
Total liabilities, end of year
$145,929
Net assets or fund balances, end of year
$965,320
Program services expenses (Part IX)
$2,691,592
Management and general expenses
$226,810
Fundraising expenses
$115,263
Program service expenses (Part III)
$2,691,592

Program services were 88.7% 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.

  • 1f · All other contributions, gifts and grants

    $2,125,500

  • 3 · Investment income

    total $3,651 · excluded $3,651

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $3,200 · excluded $3,200

  • 11e · Other revenue, total

    $3,200

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $868,642 · program services $868,642

  • 5 · Compensation of officers, directors and key employees

    total $634,440 · program services $507,552 · management and general $63,444 · fundraising $63,444

  • 7 · Other salaries and wages

    total $992,158 · program services $939,146 · management and general $26,506 · fundraising $26,506

  • 9 · Other employee benefits

    total $88,032 · program services $83,658 · management and general $2,187 · fundraising $2,187

  • 10 · Payroll taxes

    total $136,493 · program services $121,825 · management and general $7,334 · fundraising $7,334

  • 11b · Fees: legal

    total $9,502 · management and general $9,502

  • 11c · Fees: accounting

    total $82,009 · management and general $82,009

  • 11g · Fees: other

    total $107,424 · program services $86,044 · management and general $10,690 · fundraising $10,690

  • 12 · Advertising and promotion

    total $19,778 · program services $17,652 · management and general $1,063 · fundraising $1,063

  • 13 · Office expenses

    total $20,467 · program services $18,267 · management and general $1,100 · fundraising $1,100

  • 14 · Information technology

    total $16,263 · program services $14,515 · management and general $874 · fundraising $874

  • 16 · Occupancy

    total $5,151 · program services $4,597 · management and general $277 · fundraising $277

  • 17 · Travel

    total $22,119 · program services $19,741 · management and general $1,189 · fundraising $1,189

  • 23 · Insurance

    total $11,151 · program services $9,953 · management and general $599 · fundraising $599

  • 24a · Other expenses: BAD DEBT

    total $20,036 · management and general $20,036

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $70,845 · end of year $349,379

  • 2 · Savings and temporary cash investments

    beginning of year $1,098,094 · end of year $735,620

  • 3 · Pledges and grants receivable

    beginning of year $779,586 · end of year $26,250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,352

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,239 · end of year $145,929

  • 27 · Net assets without donor restrictions

    beginning of year $586,052 · end of year $562,048

  • 28 · Net assets with donor restrictions

    beginning of year $1,304,586 · end of year $403,272

Mission and programs · 2023

Mission

BOSTON SCHOOLS FUND (BSF) IS A NON-PROFIT ORGANIZATION THAT ADVANCES EDUCATIONAL EQUITY THROUGH OPPORTUNITY AND ACCESS TO HIGH-QUALITY SCHOOLS. THE BSF TEAM WAKES UP EVERY DAY WITH ONE GOAL: INCREASE THE NUMBER OF CHILDREN IN BOSTON ATTENDING A HIGH-QUALITY SCHOOL. WE ACCOMPLISH THIS BY PROVIDING CAPACITY AND RESOURCES FOR HIGH-QUALITY SCHOOLS TO EXPAND AND IMPROVE; SHARING DATA AND INFORMATION; COLLABORATING WITH FAMILIES AND PARTNERS; INFLUENCING POLICY; AND COMMITTING TO VALUES OF DIVERSITY, EQUITY, INCLUSION, AND ANTI-RACISM IN OUR WORK. WE HAVE WORKED CLOSELY WITH CITY AND STATE LEADERS TO ENSURE THAT BOSTON ADVANCES POLICIES WHICH EXPAND ACCESS TO HIGH-QUALITY SCHOOLS FOR HISTORICALLY MARGINALIZED STUDENTS.

Activities or mission (Part I)

BSF PROVIDES GRANTS AND TECHNICAL ASSISTANCE TO BOSTON SCHOOLS AND NON-PROFIT ORGANIZATIONS, ANALYZES AND SHARES BOSTON SCHOOL DATA AND INFORMATION OF THE PUBLIC, AND SUPPORTS PUBLIC POLICIES IN SUPPORT OF THIS MISSION AND VISION.

  • SCHOOL INVESTMENT - INCLUDES ALL OF BSF'S FINANCIAL AND NON-FINANCIALSUPPORT OF HIGH-QUALITY, BOSTON-BASED SCHOOLS, THAT SERVE A HIGHPROPORTION OF ECONOMICALLY DISADVANTAGED STUDENTS, BLACK AND/OR LATINOSTUDENTS, STUDENTS WITH DISABILITIES, OR ENGLISH LEARNERS, AS THEY PLANFOR GROWTH AND EXECUTE EXPANSION OR REDESIGN PLANS.

    Expenses $2,079,148 · Grants $868,642

  • DATA AND RESEARCH - INTENDED TO PERFORM RESEARCH, BUILD ORGANIZATIONAL DATA CAPACITY, AND MAINTAIN BOSTON SCHOOL FINDER WEB TOOL TO ASSIST FAMILIES IN LEARNING ABOUT SCHOOLS AND FINDING THE SCHOOL THAT BEST MEETS THEIR NEEDS.

    Expenses $402,868

  • POLICY AND ADVOCACY - INCLUDES ALL OF BSF'S FINANCIAL AND NON-FINANCIALSUPPORT TO COMMUNITY-BASED ORGANIZATIONS TO ADVANCE EDUCATION AS APRIMARY ISSUE FOR BOSTON RESIDENTS AND SUPPORT POLICIES THAT WILL DRIVEGREATER ACCESS FOR BOSTON'S FAMILIES TO HIGH-QUALITY SCHOOLS,ESPECIALLY THOSE WHO HAVE THE LEAST ACCESS TODAY.

    Expenses $209,576

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

Listed in Part VII

  • William Austin

    FOUNDER & CEO

    Total calculated
    $240,804
    From this org
    $195,095
    From related orgs
    $0
    Other
    $45,709
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,095
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $23,209
    Filer's total
    $240,804

  • Lisa Jackson

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Andrea Wolfe

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tammy Tai

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Henry Boye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Claire Newton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rana Kannan

    CHIEF OPERATING OFFICER

    Total calculated
    $237,888
    From this org
    $192,179
    From related orgs
    $0
    Other
    $45,709
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,179
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $23,209
    Filer's total
    $237,888

  • Kerry Donahue

    CHIEF STRATEGY OFFICER

    Total calculated
    $223,248
    From this org
    $192,179
    From related orgs
    $0
    Other
    $31,069
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,179
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $8,569
    Filer's total
    $223,248

  • Meghan O'Keefe

    MANAGING DIRECTOR OF INVESTMENT

    Total calculated
    $199,614
    From this org
    $164,645
    From related orgs
    $0
    Other
    $34,969
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,645
    Bonus
    $0
    Other
    $0
    Deferred
    $26,400
    Nontaxable benefits
    $8,569
    Filer's total
    $199,614

  • Irene Dennison

    DIRECTOR OF SCHOOL SUPPORT

    Total calculated
    $119,069
    From this org
    $110,500
    From related orgs
    $0
    Other
    $8,569
    Hours/week
    40

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 · 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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION FOR BSF'S FOUNDER AND CHIEF EXECUTIVE OFFICER, AS WELL AS OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE REVIEW PROCESS CONDUCTED BY THE BOARD OF DIRECTORS IS BASED ON AN ANALYSIS OF COMPARABLE MARKET DATA WHICH CONSIDERS, AMONG OTHER CRITERIA, THE ROLES AND RESPONSIBILITIES OF THE POSITIONS BEING ASSESSED.

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

  • ATTUNED EDUCATION PARTNERS

    $179,940

    LEARNING ACCELERATION SUPPORT

  • CONSORTIUM ON REACHING EXCELLENCE IN EDUCATION INC

    $103,743

    TO SUPPORT THE ORGANIZATION'S MISSION

  • THE CANIZALES GROUP LLC

    $80,000

    TO PROVIDE CONSULTING SERVICES TO THE HERNANDEZ SCHOOL

  • BOSTON EDUCATIONAL DEVELOPMENT FUND

    $64,800

    SCHOOL GRANTS TO 4 SCHOOLS FOR PLANNING, IMPROVEMENT, AND EXPANSION

  • FRIENDS OF THE RAFAEL HERNNDEZ SCHOOL

    $10,000

    TO IMPROVE THE LEARNING OUTCOMES OF STUDENTS THROUGH EFFECTIVE IMPLEMENTATION OF HIGH QUALITY INSTRUCTIONAL MATERIALS WITH A FOCUS ON HISTORICALLY MARGINALIZED STUDENTS INCLUDING THOSE THAT IDENTIFY AS BLACK, LATINX, STUDENTS WITH DISABILITIES, AND ENGLISH LEARNERS

  • CONSERVATORY LAB CHARTER SCHOOL

    $10,000

    TO IMPROVE THE LEARNING OUTCOMES OF STUDENTS THROUGH EFFECTIVE IMPLEMENTATION OF HIGH QUALITY INSTRUCTIONAL MATERIALS WITH A FOCUS ON HISTORICALLY MARGINALIZED STUDENTS INCLUDING THOSE THAT IDENTIFY AS BLACK, LATINX, STUDENTS WITH DISABILITIES, AND ENGLISH LEARNERS

  • THE CENTER FOR COLLABORATIVE EDUCATION

    $10,000

    TO SUPPORT THE ORGANIZATION'S MISSION

Provenance

Return type
form_990
Tax year
2023
Filed
26 January 2025
IRS schema version
2023v6.0
Source object
202500279349301700

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