Forward Inc
- Assets
- $7.4m
- Revenue
- $459.8k
- Investments
- $1.9m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 03/1987
- Data as of
- 12/2022
- EIN
- 04-2771148
Organization Overview
Forward Inc is located in Boston, MA. The organization was established in 1987. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Inc 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 12/2022, Forward Inc generated $459.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $255.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 34 UNITS OF HOUSING TO ELDERLY AND HANDICAPPED INDIVIDUALS DIRECTLY AS WELL AS 44 UNITS OF HOUSING TO ELDERLY THROUGH ITS 99.99% OWNERSHIP IN 2055 COLUMBUS AVENUE LIMITED PARTNERSHIP (EIN: 20-0426070) AND 144 LOW-INCOME HOUSING UNITS TO ELDERLY PERSONS THROUGH ITS 99.99% INTEREST IN COUNCIL TOWER LIMITED PARTNERSHIP (EIN: 85-4297852)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria Williams Co-President | 2 | $0 | |
Rudolph R Russell Jr Co-President | 2 | $0 | |
Royal L Bowling Director | 2 | $0 | |
Nancy Emerson-Lombardo Clerk | 2 | $0 | |
Marilyn Flowers Marion Assistant Clerk | 2 | $0 | |
Marie E Coleman Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $459,818 |
| Total Revenue | $459,818 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $55,338 |
| Pension plans, employee benefits | $0 |
| Interest | $53,052 |
| Taxes | $27,556 |
| Depreciation | $180,616 |
| Occupancy | $78,979 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$165,195 |
| Total operating and administrative expenses | $255,711 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $255,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,965 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $1,252,180 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,397 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,879,343 |
| Net Land, buildings, and equipment | $3,523,060 |
| Other assets | $331,038 |
| Total assets | $7,352,983 |
| Accounts payable and accrued expenses | $53,439 |
| Grants payable | $0 |
| Deferred revenue | $535,819 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $3,682,424 |
| Other liabilities | $913,861 |
| Total liabilities | $5,185,543 |