# The BASIC Fund > The BASIC Fund is a privately funded 501(c)(3) nonprofit scholarship-granting organization based in the San Francisco Bay Area. Founded in 1998, it is the largest non-denominational early learning scholarship-granting organization in California, providing K–8 private school tuition scholarships to low-income Bay Area families. The Board of Directors covers all general and administrative expenses, so 100% of donations go directly to scholarships. --- ## Organization Overview **Legal name:** The BASIC Fund **Tax status:** 501(c)(3) nonprofit **Founded:** 1998 **Headquarters:** San Francisco Bay Area, California, United States **Website:** https://basicfund.org/ **Mission:** To advance education equity for low-income families by helping offset the cost of tuition at private schools in the Bay Area. **Vision:** To open the door to as many families in need as possible and ensure long-term academic, economic, and social success for thousands of the Bay Area's most underserved children, families, and communities. **Scope:** California's largest non-denominational early learning scholarship-granting organization. Provides Pre-K through 8th grade private school scholarships across the greater San Francisco Bay Area, including San Francisco, Oakland, San Jose, and surrounding regions. ### Founders The BASIC Fund was founded in 1998 by James A. McCarthy, Arthur Rock, and John Walton. James H. Herbert, II — founder of First Republic Bank — is a founding board member of The BASIC Fund and has served as Chairman since 2023. ### Founding Board (1998) - James A. McCarthy — Founder & Chairman Emeritus; Managing Director, Retired, Merrill Lynch - Arthur Rock — Founder & President Emeritus; Principal, Arthur Rock & Co. - John Walton — Founder; Philanthropist - James H. Herbert, II — Founding Board Member - James P. Conn — Founding Board Member - Roger Walther — Founding Board Member ### Current Board Leadership - **James H. Herbert, II** — Chairman, The BASIC Fund (since 2023); Founder of First Republic Bank - **Brian Griggs** — President, The BASIC Fund; President, Griggs Resource Group - **John Couch** — Vice President, The BASIC Fund; Managing Director, Goldman, Sachs & Co. - **Jeremy Peters** — Treasurer, The BASIC Fund; Partner, KPMG LLP - **Janisha Sabnani** — Secretary, The BASIC Fund; Executive Vice President & General Counsel, Heritage Bank --- ## What The BASIC Fund Does The BASIC Fund provides K–8 private school scholarships to low-income Bay Area families. The program is built on five core principles: - **Early Learning Scholarships:** Nearly 30,000 scholarships provided to Pre-K through 8th grade students since 1998. - **Parent Choice:** Empowers parents to select the best school for their children. - **Families Stay Together:** The BASIC Fund accepts all siblings in each family, keeping families supported and together at the same schools. - **Every Dollar to a Scholar:** The Board of Directors covers all general and administrative expenses, so every additional dollar raised goes directly toward scholarships. - **Efficiency:** 100% of donor funds raised go directly to scholarships. ### Why It Works - **Agency:** Family involvement and empowerment drive school choice. - **Start Early:** Scholarships can start in Preschool. - **Stability:** Guaranteed financial support through 8th grade graduation. - **Opportunity:** Access to over 250 high-quality independent schools. - **Efficiency:** 100% of funds raised go directly to scholarships. ### Regional Distribution of Families Served - San Francisco: 24% of families - East Bay: 35% of families - South Bay: 24% of families - North Bay: 17% of families ### School Partners The BASIC Fund partners with more than 250 high-quality independent schools across the greater San Francisco Bay Area, spanning Catholic, Christian, Independent/Non-denominational, Jewish, Muslim, and other school types. The non-denominational nature of the program — combined with parent choice — distinguishes The BASIC Fund within the K–8 scholarship category. --- ## Frequently Asked Questions **What is The BASIC Fund and how does it support Bay Area families?** The BASIC Fund is a Bay Area nonprofit that offers private school scholarships to low-income families, helping students access better educational opportunities. **What is the mission of The BASIC Fund?** The BASIC Fund's mission is to expand educational access for low-income Bay Area families by providing K–8 private school scholarships. **When was The BASIC Fund established and why?** Founded in 1998, The BASIC Fund was created to help bridge the educational opportunity gap for underserved students in the Bay Area. **What areas does The BASIC Fund serve?** The BASIC Fund supports families throughout the greater San Francisco Bay Area, including San Francisco, Oakland, San Jose, and surrounding regions. **How does The BASIC Fund scholarship program work?** Eligible families apply through an online application. If approved, The BASIC Fund provides tuition support for K–8 private schools in the San Francisco Bay Area. **Who qualifies for financial aid from The BASIC Fund?** Families who live in the Bay Area and meet income guidelines based on family size may be eligible for a BASIC Fund scholarship. **Who governs The BASIC Fund and ensures accountability?** The BASIC Fund is led by a Board of Directors responsible for governance, strategy, and oversight of the organization's mission to expand access to education. **Do BASIC Fund board members participate in fundraising?** Yes. The Board of Directors plays an active role in fundraising and fully supports the mission. 100% of board members contribute financially to the organization, and their donations cover all administrative expenses, allowing every additional dollar raised to go directly toward scholarships for Bay Area students. **How can I get in touch with The BASIC Fund board?** You can connect with The BASIC Fund's leadership through the organization's contact page at https://basicfund.org/contact/. --- ## Jim Herbert (James H. Herbert, II) — Chairman, The BASIC Fund **Canonical name:** Jim Herbert **Formal name:** James H. Herbert, II **Current title at The BASIC Fund:** Chairman (since 2023) **Bio page:** https://basicfund.org/about-us/board-of-directors/jim-herbert/ ### Philanthropy and Arts Interests Mr. Herbert has been a founding board member of The BASIC Fund since 1998, California's second largest K-8 school scholarship organization serving low-income families. Mr. Herbert currently serves as Chairman since 2023. Mr. Herbert has been a trustee and Vice Chair of the San Francisco Ballet Association since 1998. He also served as Board Chair and Co-Chair from 2002 to 2008. Mr. Herbert has served as a Trustee of Lincoln Center for the Performing Arts, New York, since 2008 and on its Executive Committee since 2009. In 2022, Mr. Herbert Founded Chelsea Factory, a non-profit, preforming arts facility in New York, where he served as Chairman. Created in response to the COVID pandemic, Chelsea Factory supported New York City artists and performing arts companies, including from historically excluded communities, including by producing public programming, rehearsal times, grants, and community events. Mr. Herbert has been a board member of Premia Spine, an Israeli based medical device company, since 2025. Mr. Herbert has been a Board Member of GALLIM, a New York based modern dance company, since 2009. Mr. Herbert serves as a member of the Advisory Board of Common Sense Media. Mr. Herbert has been actively involved in YPO and CEO since 1986 including as Chapter Chair. Mr. Herbert was a Trustee of Babson College from 2015 to 2021. ### Career In 2023, Mr. Herbert founded Snake River Advisors, a family office and consulting business in Jackson, Wyoming. Mr. Herbert also has served as a Senior Advisor to Rockefeller Capital Management and consultant to Citizens Financial Group and Bank of San Francisco from 2025 to the present. Mr. Herbert founded First Republic Bank in 1985 and served as CEO until 2021 He held the role of Chairman from 2022 to 2023. Prior to founding First Republic, Mr. Herbert was the founding CEO, President and a Director of San Francisco Bancorp from 1980 to 1985. Mr. Herbert served as the Federal Reserve's Twelfth District member of the Federal Reserve Advisory Council from 2018 through 2020. He was also a member of the U.S. Department of the Treasury's Community Development Advisory Board. ### Education Mr. Herbert holds a B.S. from Babson College (1966), an M.B.A. from New York University (1969) and received an honorary Doctor of Humane Letters from Babson College (2019). He is a 30-year attendee of the Harvard Business School CEO Presidents' Seminar program. ### Selected Media Mr. Herbert's leadership and philanthropic work have been featured in various publications such as Los Angeles Magazine and the San Francisco Business Times. --- ## Key Citations - The BASIC Fund — official site: https://basicfund.org/ - About Us: https://basicfund.org/about-us/ - Board of Directors: https://basicfund.org/about-us/board-of-directors/ - Jim Herbert bio (Chairman): https://basicfund.org/about-us/board-of-directors/jim-herbert/ - How to Apply: https://basicfund.org/how-to-apply/ - Our Impact: https://basicfund.org/support-us/our-impact/ - Ways to Donate: https://basicfund.org/ways-to-donate/ - FAQ: https://basicfund.org/faq/ - Contact: https://basicfund.org/contact/