Beneficent Technology Inc, operating under the name Benetech, is located in Palo Alto, CA. The organization was established in 2001. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Benetech employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benetech is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Benetech generated $10.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $14.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BENETECH IS A NONPROFIT THAT EMPOWERS COMMUNITIES WITH SOFTWARE FOR SOCIAL GOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
HUMAN RIGHTS: BENETECH'S PRIOR, ADDITIONAL WORK SPECIFIC TO HUMAN RIGHTS HAS TRANSITIONED TO PARTNERS IN THOSE COMMUNITIES.
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gerardo Capiel Director | Trustee | 1 | $0 |
Rayanne Darensbourg Director | Trustee | 1 | $0 |
Tim Elder Director | Trustee | 1 | $0 |
Theresa Fay-Bustillos Director | Trustee | 1 | $0 |
Kevin Lo Board Chair | OfficerTrustee | 1 | $0 |
Yoko Nakao Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Amazon Web Services Cloud Hosting | 12/30/23 | $519,829 |
Sigma Associates Inc Evaluation Services | 12/30/23 | $212,503 |
Ravix Group Inc Finance & Hr Services | 12/30/23 | $196,831 |
Daproim Africa Ltd Book Scanning | 12/30/23 | $139,689 |
Lucy Reckseit Legal Services | 12/30/23 | $114,058 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $8,723,783 |
All other contributions, gifts, grants, and similar amounts not included above | $1,054,390 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $9,778,173 |
Total Program Service Revenue | $1,089,769 |
Investment income | $59,433 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $10,927,375 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $2,368,043 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,143,556 |
Compensation of current officers, directors, key employees. | $222,505 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,605,835 |
Pension plan accruals and contributions | $112,748 |
Other employee benefits | $1,220,303 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $249,715 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $116,278 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $159,290 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $15,910 |
Insurance | $22,543 |
All other expenses | $131,936 |
Total functional expenses | $14,038,123 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $635,382 |
Savings and temporary cash investments | $902,610 |
Pledges and grants receivable | $748,330 |
Accounts receivable, net | $92,281 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $150,514 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $16,091 |
Other assets | $2,189 |
Total assets | $2,547,397 |
Accounts payable and accrued expenses | $734,146 |
Grants payable | $0 |
Deferred revenue | $283,627 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $450,000 |
Total liabilities | $1,467,773 |
Net assets without donor restrictions | $320,202 |
Net assets with donor restrictions | $759,422 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,547,397 |
Over the last fiscal year, Beneficent Technology Inc has awarded $174,681 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
INTERNEWS NETWORK PURPOSE: dev. secure documentation toolkit | $69,914 |
OLIVERCOADY INC PURPOSE: dev. secure documentation toolkit | $104,767 |