Forward Cities Inc is located in Durham, NC. The organization was established in 2006. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Forward Cities Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Cities 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 12/2021, Forward Cities Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 12.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE OPPORTUNITIES FOR SHARED PROSPERITY THROUGH INCLUSIVE AND EQUITABLE ENTREPENEURIAL ECOSYSTEM DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ENTREPRENEURSHIP ACCELERATORS (CEA): THROUGH ITS COMMUNITY ENTREPRENEURSHIP ACCELERATOR (CEA) IS A CAPACITY-BUILDING SERIES OF ENGAGEMENTS DESIGNED TO EQUIPS AND SUPPORT NETWORKS OF METROPOLITAN AND MICROPOLITAN COMMUNITIES ACROSS THE U.S. TO GROW AND SUSTAIN EQUITABLE ENTREPRENEURIAL ECOSYSTEMS. FORWARD CITIES CONVENES AND FACILITATES A DISCOVERY PROCESS TO GATHER INSIGHTS ABOUT ENTREPRENEURS, EQUIPPERS, AND THE ECOSYSTEM. WE COMPLETE AN ASSESSMENT OF THE HEALTH AND EQUITY OF THE LOCAL ENTREPRENEURIAL ECOSYSTEM VIA THE E3 SCORECARD USING FOUR KEY METRICS PRESENT IN EVERY ECOSYSTEM: PEOPLE, PROGRAMS, NETWORKS, AND NARRATIVES. USING THOSE FINDINGS, FORWARD CITIES ALIGNS CROSS-SECTOR ECOSYSTEM STAKEHOLDERS THROUGH AN IDEATION AND DESIGN PROCESS TO CO-CREATE AND IMPLEMENT STRATEGIES AIMED AT LOWERING THE BARRIERS TO SMALL BUSINESS GROWTH. FORWARD CITIES CUSTOMIZES AND DELIVERS A LONG-TERM ACTIONABLE STRATEGIC PLAN THAT COMMUNITIES USE TO ALIGN AND CATALYZE MARKET OPPORTUNITIES FOR ENTREPRENEURS, INCREASE THE EFFICACY OF SUPPORT ORGANIZATIONS WHO SERVE THEM, AND INCREASE COLLABORATION, CULTURAL COMPETENCE, AND DISTRIBUTED POWER ACROSS THE ECOSYSTEM.
ESHIP COMMUNITIES: THE KAUFFMAN FOUNDATION FUNDED ESHIP COMMUNITIES PROGRAM IS A COMMUNITY-DRIVEN APPROACH FOR BUILDING ENTREPRENEURIAL ECOSYSTEMS THAT FOSTER INCLUSION, RELATIONSHIPS, COLLABORATION, AND SOCIAL CAPITAL ACROSS NETWORKS OF ENTREPRENEURS AND THOSE WHO SUPPORT THEM. ACROSS ITS FOUR COMMUNITIES IN KANSAS CITY, BALTIMORE, LONG BEACH, AND THE RIO GRANDE AREA, NEW MEXICO, THE PROGRAM SUPPORTS THE CREATION AND EVALUATION OF A REPEATABLE, BOTTOM-UP APPROACH TO BUILDING AND STRENGTHENING ENTREPRENEURIAL ECOSYSTEMS. FORWARD CITIES HAS ASSISTED IN THE FORMATION OF FOUR COLLABORATIVE COUNCILS OF INDIVIDUALS WHO REPRESENT DIFFERENT STAKEHOLDERS FROM ACROSS THEIR COMMUNITY. THE COUNCILS HAVE DEVELOPED AND IMPLEMENTED PILOT PROJECTS THAT ADDRESS SPECIFIC BARRIERS OR GAPS IN THEIR ECOSYSTEM AS IDENTIFIED THROUGH RESEARCH EFFORTS IN THEIR COMMUNITIES. IN ALL COMMUNITIES WE HAVE SEEN PILOTS CATALYZE ADDITIONAL ECOSYSTEM EFFORTS AND INVESTMENTS AS WELL AS MEET DIRECT NEEDS OF UNDER-SERVED ENTREPRENEURS OR ENTREPRENEURIAL SUPPORT ORGANIZATIONS.
MINIMAL VIABLE SOLUTIONS (MVS), ALSO KNOWN AS PILOT PROGRAMS, ARE STRATEGIES THAT HAVE BEEN IDENTIFIED THROUGH A COMMUNITY-LED PROCESS TO ADDRESS BARRIERS TO INCREASING ENTREPRENEURIAL STARTS AND SMALL BUSINESS GROWTH IN UNDER-CONNECTED COMMUNITIES. MVS ARE CO-CREATED DURING A DATA-INFORMED FACILITATION PROCESS INVOLVING LOCAL WORKING GROUPS, LOCAL ENTREPRENEURS, ENTREPRENEURIAL SUPPORTERS, AND FORWARD CITIES. THEY ARE DESIGNED TO TEST A SET OF PILOT INTERVENTIONS THAT, IF SUCCESSFUL, CAN BE SCALED TO BENEFIT A BROADER SET OF ENTREPRENEURS IN SIMILAR NEIGHBORHOODS, THE CITY AND/OR THE REGION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Faye Horwitt CEO | Officer | 40 | $144,805 |
Adrian Smith Treasurer | OfficerTrustee | 10 | $0 |
Cathy Belk Chair | OfficerTrustee | 10 | $0 |
Pete Carlson Member | Trustee | 5 | $0 |
Trevor Smith Member | Trustee | 5 | $0 |
Chris Cain Member | Trustee | 5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $353,742 |
All other contributions, gifts, grants, and similar amounts not included above | $1,678,086 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,031,828 |
Total Program Service Revenue | $428,359 |
Investment income | $0 |
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 | $2,460,187 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $151,075 |
Compensation of current officers, directors, key employees. | $40,790 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,163,131 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $69,355 |
Payroll taxes | $101,318 |
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 | $139,294 |
Advertising and promotion | $15,430 |
Office expenses | $42,089 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $8,900 |
Travel | $15,483 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $15,894 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $5,463 |
All other expenses | $14,067 |
Total functional expenses | $2,092,074 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,184,173 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $11,700 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $500 |
Total assets | $1,196,373 |
Accounts payable and accrued expenses | $47,162 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $0 |
Total liabilities | $47,162 |
Net assets without donor restrictions | $277,275 |
Net assets with donor restrictions | $871,936 |
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 | $1,196,373 |
Over the last fiscal year, Forward Cities Inc has awarded $1,104,133 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
LIVING CITIES INC PURPOSE: TALENT DIVIDEND | $1,061,633 |
LOCAL PROJECTS LLC PURPOSE: CHANGE BY US - PHASE 1 | $42,500 |
Over the last fiscal year, we have identified 3 grants that Forward Cities Inc has recieved totaling $1,145,000.
Awarding Organization | Amount |
---|---|
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR IMPLEMENTING AND TESTING A REPLICABLE, GRASSROOTS-BASED APPROACH TO STRENGTHENING ENTREPRENEURIAL ECOSYSTEMS. 202002-8002 | $1,121,000 |
Pittsburgh Foundation Pittsburgh, PA PURPOSE: ECONOMIC DEVELOPMENT | $14,000 |
Nc Idea Durham, NC PURPOSE: ENGAGE GRANTS | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Charlotte Center City Partners Charlotte, NC | $3,090,178 | $6,164,890 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |
Catawba Regional Council Of Governments Rock Hill, SC | $18,118,741 | $10,188,786 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
Common Ground Alliance Alexandria, VA | $4,149,136 | $2,873,132 |
Metanoia North Charleston, SC | $10,676,090 | $4,102,984 |
Forward Cities Inc Durham, NC | $1,196,373 | $2,460,187 |
Industrial Commons Morganton, NC | $6,060,975 | $4,558,553 |
Partners In Ministry Laurinburg, NC | $1,633,972 | $2,541,350 |
Small Business Assistance Corp Savannah, GA | $17,970,431 | $1,539,306 |
Binghampton Development Corporation Memphis, TN | $12,365,463 | $1,404,895 |