The Forbes Funds is located in Pittsburgh, PA. The organization was established in 1982. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Forbes Funds employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forbes Funds 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, Forbes Funds generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Forbes Funds has awarded 174 individual grants totaling $3,605,435. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOCUS ON STRENGTHENING THE MANAGEMENT CAPACITY AND IMPACT OF COMMUNITY NONPROFITS INDIVIDUALLY AND COLLECTIVELY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPACITY BUILDING PROVIDING NONPROFITS WITH RESOURCES, THROUGH GRANTMAKING AND COHORTS, AND LEARNING FORUMS TO ENABLE THEM TO MANAGE A DISRUPTIVE EVENT, REFRAME THEIR THINKING ABOUT A SPECIFIC ISSUE THAT IMPACTS OPERATIONS, AND PREPARE FOR THE FUTURE. PRIORITY IS GIVEN TO HUMAN SERVICES AND COMMUNITY DEVELOPMENT ORGANIZATIONS IN ALLEGHENY COUNTY.YEARLY, THE FUND HAS INTERACTS WITH OR CONVENES APPROXIMATELY 2,500 THOUGHT LEADERS WITHIN THE NONPROFIT SECTOR THROUGH THE GREATER PITTSBURGH NONPROFIT PARTNERSHIP (GPNP), EXECUTIVE-IN-RESIDENCE (EIR), MANAGEMENT ASSISTANCE GRANTS (MAGS), CATALYTIC COMMUNITY COHORTS (C3), PERFORMANCE IMPERATIVE AND LARGE AND SMALL AGENCY COHORTS. THIS NUMBER REPRESENTS NEARLY HALF THE NUMBER OF CURRENT NONPROFIT ORGANIZATIONS IN ALLEGHENY COUNTY AND OVER 25% OF THE TEN-COUNTY REGIONAL'S NONPROFIT SECTOR.
THE FUND SITS AT THE INTERSECTION BETWEEN FUNDERS AND THE NONPROFIT COMMUNITY. THE FUND'S WORK HAS EVOLVED OVER THE YEARS TO BUILD A MORE SYSTEMIC TRANSFORMATIONAL MODEL ANCHORED IN A NEARLY 40-YEAR HISTORY OF ADVANCING THE WELL-BEING OF OUR REGION. THE MISSION OF THE FUND FOCUSES ON BUILDING THE MANAGEMENT CAPACITY AND IMPACT OF HUMAN SERVICES AND COMMUNITY-BASED NONPROFITS BOTH AS INDIVIDUAL ORGANIZATIONS AND AS A UNIFIED COALITION OF LEADERS, FUNDERS AND ADVOCATES WORKING COLLABORATIVELY THROUGHOUT SOUTHWESTERN PENNSYLVANIA.SINCE 2018, THE FUND HAS ALIGNED ITS TRADITIONAL PROGRAMMING TO INCREASE ENGAGEMENT WITH OUR REGIONAL PARTNERS AND TO IDENTIFY WHERE GAPS AND OVERLAPS OF SERVICES AND INVESTMENTS EXIST. ADDITIONALLY, IN 2020, TFF'S BOARD APPROVED A RACIAL JUSTICE EQUITY FRAMEWORK THAT INFORMS OUR PROGRAMMING TODAY AND IN THE FUTURE. THIS FRAMEWORK INCLUDES INVESTING IN DIVERSE LEADERSHIP, INCREASING THE CAPACITY OF MINORITY-LED ORGANIZATIONS, DEVELOPING SCENARIO PLANNING AND INCREASING COLLABORATIVE CAPACITY OF REGIONAL ORGANIZATIONS. THIS HAS LED TO THE DEVELOPMENT OF AN INTERNATIONAL ANTI-RACISM INSTITUTIONAL COHORT (ARC) THAT IS BEING LAUNCHED IN COLLABORATION WITH THE HEINZ ENDOWMENTS, THE UNIVERSITY OF PITTSBURGH, AND THE DEPARTMENT OF THE FUTURE IN SOUSSE, TUNISIA. BY CO-DESIGNING SOLUTIONS, OUR GRANTMAKING HAS INCREASED OVER 400% AND FOR EVERY $1 INVESTED IN TFF, THE RESULT IS A RETURN ON INVESTMENT OF MORE THAN $7 OR APPROXIMATELY $28 MILLION WORTH OF CAPACITY BUILDING RESOURCES IN THE TEN-COUNTY, SW PENNSYLVANIA REGION.SINCE THE ONSET OF COVID-19, TFF HAS HELD MORE THAN 4,198 VIRTUAL MEETINGS WITH MORE THAN 35,887 PARTICIPANTS ACROSS THE REGION AND ACROSS THE STATE, NATION, AND GLOBE.FINALLY, AS A RESULT OF COVID-19, TFF HAS BEEN WORKING WITH THE REGIONAL NONPROFIT SECTOR TO NOT ONLY HELP ORGANIZATIONS SURVIVE THE PANDEMIC BUT TO PREPARE FOR THE CHANGES THAT WILL LIKELY OCCUR INCLUDING CHANGES TO FUNDING CYCLES, PHILANTHROPIC PRIORITIES, AND AN INCREASE EMPHASIS ON COLLABORATION. THIS HAS LED TO THE LAUNCH OF VARIOUS LEARNING COHORTS WITH NONPROFITS ON TOPICS LIKE HUMAN RESOURCES, EQUITABLE ENTREPRENEURISM, FUNDRAISING AND ADVOCACY, AND SCENARIO PLANNING. TFF ALSO WORKED WITH A GROUP OF SKILLED PRACTITIONERS, EDUCATORS, DOCTORS, SCIENTISTS, AND PHILANTHROPISTS TO ADDRESS THE IMPACT ON THE PANDEMIC ON RESILIENT BLACK, BROWN, AND LGBQTIA+ COMMUNITIES AROUND THE COMMONWEALTH OF PENNSYLVANIA. THIS WORK WAS IN COLLABORATION WITH THE PA SECRETARY OF HEALTH AND IS FOCUSED ON ADDRESSING CURRENT HEALTH AND HEALTHCARE INEQUITIES, EQUIPPING FEDERALLY QUALIFIED HEALTH CENTERS WITH RESOURCES LIKE CONTACT TRACERS, AND SUPPORTING WORKFORCE AND SOCIAL SECTOR INVESTMENTS FOR ESSENTIAL WORKERS WHO ARE MORE LIKELY TO CONTRACT THE DISEASE.THE FUND NOW ALIGNS ALL SERVICES WITH THE SOCIAL DETERMINATES OF HEALTH AND UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS (UNSDGS) TO SHOW THE IMPACT OF THE REGION. THIS APPROACH TO SYSTEMS MANAGEMENT REQUIRES LEVERAGING PARTNERSHIP AND TOOLS AND ESTABLISHING SHARED GOALS. THE GOAL IS TO NOT ONLY IMPROVE ORGANIZATIONAL CAPACITY OF NONPROFITS BUT TO ENSURE THAT THE POPULATIONS SERVED BY ORGANIZATIONS WE SUPPORT BENEFIT AS WELL. THE PREMISE IS THAT INDIVIDUALS SERVED BY THE ORGANIZATIONS WE SUPPORT ARE OFTEN TIMES DEALING WITH MORE THAN ONE ISSUE AND A HOLISTIC APPROACH IS NECESSARY THAT INVOLVES MULTIPLE ORGANIZATIONS.TFF'S WORK IS CENTERED AROUND MORE THAN TRANSACTIONAL RELATIONSHIPS AND APPROACHES; THE AIM IS TO FOSTER TRANSFORMATIONAL PARTNERSHIPS AND TO OPTIMIZE HOW THE NONPROFIT ECOSYSTEM INTERACTS WITH FUNDERS, GOVERNMENT, PRIVATE SECTOR AND OTHERS IN THE PITTSBURGH REGION. THE FORBES FUNDS IS EXPLORING CO-DESIGNED APPROACHES THAT ARE ITERATIVE AND AGILE, ESPECIALLY AS OUR SECTOR ADDRESSES THE REALITIES OF SCENARIO PLANNING - ECONOMIC STRESSES AND SHOCKS TO THE REGION THAT WILL PUT UNTOLD STRAIN ON SOUTHWESTERN PENNSYLVANIA.
GREATER PITTSBURGH NONPROFIT PARTNERSHIP (GPNP) - LEVERAGING THE COLLECTIVE STRENGTH OF THE SECTOR TO INFORM POLICY, GIVE INPUT TO COMMUNITY PRIORITIES AND STRATEGIES, AND INCREASE THEIR PURCHASING POWER. BI-ANNUALLY GPNP ORGANIZES THE GREATER PITTSBURGH NON-PROFIT SUMMIT WHICH BRINGS TOGETHER LOCAL NONPROFIT STAFF AND BOARD MEMBERS PLUS OTHER INTERESTED PARTIES TO DISCUSS VARIOUS TOPICS OF INTEREST FOR NONPROFITS THAT FOSTERS CAPACITY BUILDING AND SOCIAL INNOVATION.
SOCIAL INNOVATION - ACCELERATING THE DEVELOPMENT OF OPERATING MODELS AND TECHNOLOGICAL INNOVATION TO REDUCE EXPENSE AND/OR INCREASE IMPACT OF OUR COMMUNITY NONPROFIT ORGANIZATIONS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Fred Brown President | Officer | 65 | $197,502 |
Jason Jones Treasurer | OfficerTrustee | 1 | $11,525 |
Bill Isler Vice Chair | OfficerTrustee | 1 | $0 |
Kathy Humphrey Chair | OfficerTrustee | 1 | $0 |
Nancy Rackoff Secretary | OfficerTrustee | 1 | $0 |
Anne Cudd Entered 121621 Member At Large | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Catchafire Technology Hosting | 12/30/19 | $115,000 |
Influence Sg Accel Programming | 12/30/19 | $126,500 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $63,075 |
Fundraising events | $0 |
Related organizations | $444,699 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $2,200,924 |
Noncash contributions included in lines 1a–1f | $77,028 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,708,698 |
Total Program Service Revenue | $278,249 |
Investment income | $161,488 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $338,306 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,486,741 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $240,350 |
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. | $254,869 |
Compensation of current officers, directors, key employees. | $48,869 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $590,260 |
Pension plan accruals and contributions | $54,448 |
Other employee benefits | $121,573 |
Payroll taxes | $54,710 |
Fees for services: Management | $0 |
Fees for services: Legal | $122 |
Fees for services: Accounting | $14,511 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $37,494 |
Fees for services: Other | $799,539 |
Advertising and promotion | $4,144 |
Office expenses | $21,093 |
Information technology | $58,993 |
Royalties | $0 |
Occupancy | $32,043 |
Travel | $3,705 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $52,007 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $7,404 |
All other expenses | $0 |
Total functional expenses | $2,450,807 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,392,468 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $153,255 |
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 | $7,972,166 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $14,291 |
Total assets | $11,532,180 |
Accounts payable and accrued expenses | $124,656 |
Grants payable | $239,481 |
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 | $79,310 |
Total liabilities | $443,447 |
Net assets without donor restrictions | $1,282,999 |
Net assets with donor restrictions | $9,805,734 |
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 | $11,532,180 |
Over the last fiscal year, The Forbes Funds has awarded $232,500 in support to 12 organizations.
Grant Recipient | Amount |
---|---|
Pittsburgh, PA PURPOSE: HOUSING AND SHELTER | $40,000 |
Pittsburgh, PA PURPOSE: HUMAN SERVICES | $27,500 |
Pittsburgh, PA PURPOSE: MEDICAL DISCIPLINES | $25,000 |
Homestead, PA PURPOSE: COMMUNITY IMPROVEMENT | $25,000 |
Pittsburgh, PA PURPOSE: COMMUNITY LEGAL AID | $25,000 |
Pittsburgh, PA PURPOSE: RELIGION RELATED | $20,500 |
Over the last fiscal year, we have identified 19 grants that The Forbes Funds has recieved totaling $2,112,949.
Awarding Organization | Amount |
---|---|
The Heinz Endowments Pittsburgh, PA PURPOSE: TO CREATE A THRIVING NON-PROFIT ENVIRONMENT TO RESPOND TO THE CHANGING ECONOMIC LANDSCAPE IN OUR REGION. THE FORBES FUNDS (TFF) WILL DIRECTLY IMPACT OVER 500 ORGANIZATIONS PROVIDING CAPACITY BUILDING SERVICES TO 21,000 NONPROFIT PROFESSIONALS | $500,000 |
The Heinz Endowments Pittsburgh, PA PURPOSE: TO SUPPORT CAPACITY BUILDING PROGRAMS (LIKE ENHANCED FISCAL MANAGING AND ORGANIZATIONAL ACCOUNTABILITY) AMONG SWPA NONPROFITS THROUGH TECHNICAL ASSISTANCE, COACHING, AND CAPACITY BUILDING GRANTS. | $500,000 |
Pittsburgh Foundation Pittsburgh, PA PURPOSE: PHILANTHROPY, VOLUNTARISM, AND GRANTMAKING | $402,199 |
Hillman Family Foundations Pittsburgh, PA PURPOSE: STANDARDIZING, STRENGTHENING, AND SUSTAINING MEALS ON WHEELS GREATER PITTSBURGH COLLABORATION | $150,000 |
Hillman Family Foundations Pittsburgh, PA PURPOSE: STANDARDIZING, STRENGTHENING, AND SUSTAINING MEALS ON WHEELS GREATER PITTSBURGH COLLABORATION | $150,000 |
Benter Foundation Pittsburgh, PA PURPOSE: A TWO YEAR GRANT TO SUPPORT ACCEL FUNDRAISING TRAINING AND A SPECIAL TECHNICAL ASSISTANCE FUND FOR 2021, 1ST OF 2 PAYMENTS | $60,000 |
Beg. Balance | $6,950,454 |
Earnings | $1,223,809 |
Other Expense | $428,618 |
Ending Balance | $7,745,645 |
Organization Name | Assets | Revenue |
---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |