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Nonprofiteer
← BENEFICENT TECHNOLOGY INC

Form 990 for tax year 2022

Filed by BENEFICENT TECHNOLOGY INC.

Totals

Total revenue
$16,107,648
Total expenses
$16,300,016
Contributions and grants received
$14,900,969
Grants paid
$145,000
Program service revenue
$1,195,963
Investment income
$10,716
Other revenue
$0
Total assets, end of year
$6,571,567
Total liabilities, end of year
$2,381,195
Net assets or fund balances, end of year
$4,190,372
Program services expenses (Part IX)
$13,079,862
Management and general expenses
$3,093,093
Fundraising expenses
$127,061
Program service expenses (Part III)
$13,079,862

Program services were 80.2% 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)

    $10,732,305

  • 1f · All other contributions, gifts and grants

    $4,168,664

  • 2a · Program service revenue: GLOBAL LITERACY

    total $1,018,498 · related or exempt $1,018,498

  • 2b · Program service revenue: TECH MATTERS

    total $177,465 · related or exempt $177,465

  • 3 · Investment income

    total $10,716 · excluded $10,716

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 3 · Grants to foreign organizations and individuals

    total $125,000 · program services $125,000

  • 5 · Compensation of officers, directors and key employees

    total $2,432,092 · program services $1,722,283 · management and general $702,662 · fundraising $7,147

  • 7 · Other salaries and wages

    total $5,636,484 · program services $4,768,221 · management and general $797,122 · fundraising $71,141

  • 8 · Pension plan contributions

    total $106,934 · program services $90,461 · management and general $15,123 · fundraising $1,350

  • 9 · Other employee benefits

    total $2,231,616 · program services $1,887,850 · management and general $315,600 · fundraising $28,166

  • 13 · Office expenses

    total $392,692 · program services $317,193 · management and general $72,170 · fundraising $3,329

  • 17 · Travel

    total $208,339 · program services $178,649 · management and general $29,344 · fundraising $346

  • 19 · Conferences, conventions and meetings

    total $233,944 · program services $223,805 · management and general $9,884 · fundraising $255

  • 22 · Depreciation, depletion and amortization

    total $38,734 · program services $21,121 · management and general $17,282 · fundraising $331

  • 23 · Insurance

    total $30,873 · program services $25,184 · management and general $5,283 · fundraising $406

  • 24a · Other expenses: OUTSIDE SERVICES

    total $2,907,031 · program services $1,987,037 · management and general $916,226 · fundraising $3,768

  • 24b · Other expenses: COMMUNICATIONS

    total $632,459 · program services $597,501 · management and general $32,988 · fundraising $1,970

  • 24c · Other expenses: BOOK COLLECTION & DEVEL

    total $551,638 · program services $551,638

  • 24d · Other expenses: FACILITY & OTHER OFFICE

    total $332,707 · program services $267,951 · management and general $60,567 · fundraising $4,189

  • 24e · All other expenses

    total $419,473 · program services $295,968 · management and general $118,842 · fundraising $4,663

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,468,267 · end of year $2,495,839

  • 2 · Savings and temporary cash investments

    beginning of year $850,936 · end of year $861,652

  • 3 · Pledges and grants receivable

    beginning of year $3,001,351 · end of year $2,571,740

  • 4 · Accounts receivable

    beginning of year $656,573 · end of year $229,350

  • 9 · Prepaid expenses and deferred charges

    beginning of year $115,020 · end of year $204,992

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

    $97,163

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

    $97,163

  • 10c · Land, buildings and equipment, net

    beginning of year $44,940 · end of year $0

  • 14 · Intangible assets

    beginning of year $43,642 · end of year $32,001

  • 15 · Other assets

    beginning of year $58,595 · end of year $175,993

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,108,597 · end of year $1,118,788

  • 19 · Deferred revenue

    beginning of year $297,987 · end of year $563,959

  • 25 · Other liabilities

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

  • 27 · Net assets without donor restrictions

    beginning of year $634,676 · end of year $513,940

  • 28 · Net assets with donor restrictions

    beginning of year $3,748,064 · end of year $3,676,432

Mission and programs · 2022

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 $10,229,939 · Revenue $1,018,498

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

    Expenses $315,670

  • 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. ASELO WAS DEPLOYED IN ELEVEN COUNTRIES AT THE END OF 2022. 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. TERRASO WAS IN ITS INITIAL SOFTWARE DEVELOPMENT PHASE DURING 2022 AND IS EXPECTED TO LAUNCH IN 2023.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 $2,482,565 · Grants $145,000 · Revenue $177,465

  • POVERTY: INEQUITY DEMANDS SOCIAL ACTION. LACK OF ACCESS TO EDUCATION, EMPLOYMENT, HEALTH, HOUSING, AND JUSTICE HINDERS HUMAN PROGRESS. WE'RE DRIVEN TO LEVEL THE PLAYING FIELD BY PROVIDING COLLABORATIVE SOFTWARE PLATFORMS. THROUGH INFORMATION AND DATA EXCHANGE WE CAN HELP CLOSE THE GAPS AND PROVIDE A BRIDGE TO NEW OPPORTUNITIES FOR THOSE WHO NEED IT. BENETECH SERVICE NET IS MAKING IT EASIER TO SHARE AND MAINTAIN INFORMATION ON SOCIAL AND HUMAN SERVICES.BENETECH LABS: BENETECH LABS IS OUR INNOVATION AND NEW PRODUCT DEVELOPMENT CENTER, WHERE WE EXPLORE AREAS OF NEED AND DEVELOP SOLUTIONS BY ENGAGING WITH COMMUNITIES, OTHER TECHNOLOGISTS, AND NONPROFITS. WE FOCUS ON FINDING AND DEVELOPING EFFECTIVE PLATFORMS THAT BENETECH AND THE COMMUNITIES WE SERVE CAN TAKE TO SCALE AND ACHIEVE LASTING SOCIAL IMPACT.

    Expenses $51,688

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christy Remey Chin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Gerardo Capiel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Theresa Fay-Bustillos

    DIRECTOR

    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
  • Kevin Lo

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1
  • James R Fruchterman

    CEO - TECH MATTERS

    Total calculated
    $326,023
    From this org
    $285,352
    From related orgs
    $0
    Other
    $40,671
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $285,352
    Bonus
    $0
    Other
    $0
    Deferred
    $5,531
    Nontaxable benefits
    $35,140
    Filer's total
    $326,023
  • Ayan Kishore

    CEO

    Total calculated
    $326,768
    From this org
    $320,000
    From related orgs
    $0
    Other
    $6,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $305,000
    Bonus
    $15,000
    Other
    $0
    Deferred
    $6,242
    Nontaxable benefits
    $526
    Filer's total
    $326,768
  • Aaron Firestone

    VP DATA INSIGHTS

    Total calculated
    $196,916
    From this org
    $167,633
    From related orgs
    $0
    Other
    $29,283
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,633
    Bonus
    $0
    Other
    $0
    Deferred
    $2,798
    Nontaxable benefits
    $26,485
    Filer's total
    $196,916
  • Joel Riciputi

    CBO

    Total calculated
    $196,327
    From this org
    $191,837
    From related orgs
    $0
    Other
    $4,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,837
    Bonus
    $0
    Other
    $0
    Deferred
    $3,994
    Nontaxable benefits
    $496
    Filer's total
    $196,327
  • Charles Lapierre

    PRINCIPAL ACCESSIBILITY

    Total calculated
    $215,189
    From this org
    $178,396
    From related orgs
    $0
    Other
    $36,793
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,396
    Bonus
    $0
    Other
    $0
    Deferred
    $3,632
    Nontaxable benefits
    $33,161
    Filer's total
    $215,189
  • John Brugge

    ENGINEER MANAGER

    Total calculated
    $220,628
    From this org
    $168,761
    From related orgs
    $0
    Other
    $51,867
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,761
    Bonus
    $0
    Other
    $0
    Deferred
    $3,539
    Nontaxable benefits
    $48,328
    Filer's total
    $220,628
  • Ronald K Ellis III

    SENIOR ENGINEER

    Total calculated
    $177,767
    From this org
    $166,766
    From related orgs
    $0
    Other
    $11,001
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,766
    Bonus
    $0
    Other
    $0
    Deferred
    $2,940
    Nontaxable benefits
    $8,061
    Filer's total
    $177,767
  • Michael Johnson

    VP CONTENT

    Total calculated
    $207,478
    From this org
    $169,904
    From related orgs
    $0
    Other
    $37,574
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,904
    Bonus
    $0
    Other
    $0
    Deferred
    $3,473
    Nontaxable benefits
    $34,101
    Filer's total
    $207,478
  • Lisa Wadors Verne

    VP PROGRAMS

    Total calculated
    $207,738
    From this org
    $168,814
    From related orgs
    $0
    Other
    $38,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,814
    Bonus
    $0
    Other
    $0
    Deferred
    $3,000
    Nontaxable benefits
    $35,924
    Filer's total
    $207,738
  • Paul Schreiber

    DIRECTOR OF ENGINEERING - TERRASO

    Total calculated
    $180,433
    From this org
    $167,342
    From related orgs
    $0
    Other
    $13,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,342
    Bonus
    $0
    Other
    $0
    Deferred
    $3,015
    Nontaxable benefits
    $10,076
    Filer's total
    $180,433
  • Hurlburt Nicholas R

    DIRECTOR OF ENGINEERING - ASELO

    Total calculated
    $176,823
    From this org
    $164,177
    From related orgs
    $0
    Other
    $12,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,177
    Bonus
    $0
    Other
    $0
    Deferred
    $3,352
    Nontaxable benefits
    $9,294
    Filer's total
    $176,823
  • Brownell Jocob A

    SENIOR ENGINEER

    Total calculated
    $178,133
    From this org
    $166,013
    From related orgs
    $0
    Other
    $12,120
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,013
    Bonus
    $0
    Other
    $0
    Deferred
    $3,367
    Nontaxable benefits
    $8,753
    Filer's total
    $178,133
  • Anderson Paul

    SENIOR ENGINEER

    Total calculated
    $167,842
    From this org
    $154,408
    From related orgs
    $0
    Other
    $13,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,408
    Bonus
    $0
    Other
    $0
    Deferred
    $3,110
    Nontaxable benefits
    $10,324
    Filer's total
    $167,842
  • Kennedy Blake L

    SENIOR ENGINEER

    Total calculated
    $164,135
    From this org
    $152,232
    From related orgs
    $0
    Other
    $11,903
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,232
    Bonus
    $0
    Other
    $0
    Deferred
    $3,092
    Nontaxable benefits
    $8,811
    Filer's total
    $164,135
  • David Murphy

    DIRECTOR OF ENGINEERING

    Total calculated
    $175,216
    From this org
    $147,735
    From related orgs
    $0
    Other
    $27,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,735
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,481
    Filer's total
    $175,216
  • Hu Jenny

    IT MANAGER

    Total calculated
    $164,888
    From this org
    $148,601
    From related orgs
    $0
    Other
    $16,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,601
    Bonus
    $0
    Other
    $0
    Deferred
    $2,625
    Nontaxable benefits
    $13,662
    Filer's total
    $164,888

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 · 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

  • SJAC

    $20,000

    TESTING OF JUSTICE AI TOOL FUNCTIONALITY

Provenance

Return type
form_990
Tax year
2022
Filed
6 September 2023
IRS schema version
2022v5.0
Source object
202302499349300220

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