Bassett Education Foundation

Nonprofit profile at a glance

EIN
451660040
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
La Puente, CA, USA
Phone
6269313045
Rating
54
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$17,116
Expenses
$4,921
Assets
$7,407
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • NICHOLAS DRAKOS (PRESIDENT)

People named in this filing

  • NICHOLAS DRAKOS (PRESIDENT)
  • TIM SEAL (SECRETARY)
  • LUCIO PEREZ JR (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o.

What it reported doing in 2024

Requested input from community in awarding grants for various educational promotional activities. Grants were awarded after complete review of the board and review of the need in the school district. Foundation followed through to make sure recipients used the funds for the intended purposes. No exceptions were found.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 58
  • Accountability: 70
  • Sustainability: 68
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.8%; rating input score 29
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 71.2%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 1.51; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -21.2% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -21.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: -11.5% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 28.8% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 9 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 29/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Growth: Asset growth scored 0/100.