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 12/2022, 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 12/2022, Forbes Funds generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Forbes Funds has awarded 190 individual grants totaling $3,910,434. 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
2022
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.
SOCIAL INNOVATION: ACCELERATING THE DEVELOPMENT OF PARTNERING MODELS AND TECHNOLOGICAL INNOVATION TO REDUCE EXPENSES AND/OR INCREASE THE IMPACT OF COMMUNITY NONPROFIT ORGANIZATIONS.
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 41-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.CONTINUED ON SCHEDULE OOVER THE PAST FOUR YEARS, 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. TODAY, THE FUND HAS CONVENED 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"), THE COMMONS, PERFORMANCE IMPERATIVE, THE TRANSFORMATIONAL LEADERSHIP COHORT, AND LARGE AND SMALL AGENCY COHORTS, THE FUND WORKS WITH NONPROFIT ORGANIZATIONS IN ALLEGHENY COUNTY AND SOUTHWESTERN PENNSYLVANIA AND IS BUILDING A GROWING NETWORK OF PARTNERSHIPS ACROSS THE COMMONWEALTH OF PENNSYLVANIA, THE NATION, AND THE GLOBE.IN 2020, THE FUND'S BOARD OF DIRECTORS (THE "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. FINALLY, AS A RESULT OF COVID-19, THE FUND 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, SUCCESSION PLANNING, OPERATIONAL RESERVES, AND SCENARIO PLANNING. THE FUND 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 (SDOH) AND UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS (UNSDGS) TO SHOW THE LOCAL AND GLOBAL IMPACTS OF THE REGION. THIS NEW APPROACH TO ECOSYSTEMS DEVELOPMENT REQUIRES LEVERAGING PARTNERSHIPS AND TOOLS TO ESTABLISH SHARED GOALS. THE GOAL IS TO NOT ONLY IMPROVE THE ORGANIZATIONAL CAPACITY OF NONPROFITS BUT TO ENSURE THAT THE POPULATIONS SERVED BY ORGANIZATIONS THE FUND SUPPORTS WILL BENEFIT AS WELL. THE PREMISE IS THAT INDIVIDUALS SERVED BY THE ORGANIZATIONS THE FUND SUPPORTS ARE OFTENTIMES DEALING WITH MORE THAN ONE ISSUE, AND A HOLISTIC, COLLABORATIVE APPROACH INVOLVING THE INPUT OF MULTIPLE ORGANIZATIONS IS NECESSARY. THE FUND'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. CURRENTLY, THE FUND IS EXPLORING CO-DESIGNED APPROACHES THAT ARE ITERATIVE AND AGILE, ESPECIALLY AS THE NONPROFIT SECTOR ADDRESSES THE REALITIES OF ECONOMIC STRESSES AND SHOCKS TO THE REGION. RECOGNIZING THAT THESE STRESSES AND SHOCKS WILL PUT UNTOLD STRAIN ON SOUTHWESTERN PENNSYLVANIA, THE FUND'S INTENTION WILL BE MOVING FROM SYSTEMS CHANGE TO ECOSYSTEMS COCREATION--WHERE DIVERSE NETWORKS AND CROSS-SECTORAL PARTNERSHIPS CAN HAVE VIBRANT EXCHANGES OF IDEAS AND WHERE TRANSFORMATIONAL LEADERS CAN DRIVE SHARED SOLUTIONS.
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 OVER AN AFTERNOON, VARIOUS TOPICS OF INTEREST FOR NONPROFITS THAT FOSTERS CAPACITY BUILDING AND SOCIAL INNOVATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Elisabeth Schroeder Member At Large | Trustee | 1 | $0 |
Jonathan Brelsford Member At Large (eff. 12/22) | Trustee | 1 | $0 |
Jason Jones Treasurer | OfficerTrustee | 1 | $8,050 |
Kathy Humphrey Chair (thru 06/22), Member At Large | OfficerTrustee | 1 | $0 |
Bill Isler Vice Chair (thru 06/22), Chair (eff. 06/22) | OfficerTrustee | 1 | $0 |
Ann E Cudd Member At Large | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Influence Sg Accel Programming | 12/30/19 | $126,500 |
Catchafire Technology Hosting | 12/30/19 | $115,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $4,380 |
Membership dues | $56,621 |
Fundraising events | $0 |
Related organizations | $439,404 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $751,555 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,251,960 |
Total Program Service Revenue | $116,275 |
Investment income | $205,656 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $144,308 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,718,199 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $305,000 |
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. | $288,169 |
Compensation of current officers, directors, key employees. | $56,024 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $520,479 |
Pension plan accruals and contributions | $36,846 |
Other employee benefits | $127,394 |
Payroll taxes | $51,231 |
Fees for services: Management | $0 |
Fees for services: Legal | $263 |
Fees for services: Accounting | $14,682 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $13,975 |
Fees for services: Investment Management | $37,101 |
Fees for services: Other | $768,907 |
Advertising and promotion | $1,945 |
Office expenses | $10,222 |
Information technology | $4,135 |
Royalties | $0 |
Occupancy | $38,469 |
Travel | $6,627 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $74,945 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $8,793 |
All other expenses | $0 |
Total functional expenses | $2,499,418 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,805,295 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $49,225 |
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 | $6,934,298 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $31,260 |
Total assets | $9,820,078 |
Accounts payable and accrued expenses | $203,847 |
Grants payable | $361,871 |
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 | $15,520 |
Total liabilities | $581,238 |
Net assets without donor restrictions | $1,501,773 |
Net assets with donor restrictions | $7,737,067 |
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 | $9,820,078 |
Over the last fiscal year, The Forbes Funds has awarded $304,999 in support to 16 organizations.
Grant Recipient | Amount |
---|---|
SKYLINE RECOVERY PURPOSE: TO FORM A FORMAL STRATEGIC PARTNERSHIP TO REMOVES BARRIERS AND EMPOWERS INDIVIDUALS | $40,000 |
LARIMER CONSENSUS GROUP PURPOSE: DEVLOP A PHYSICAL/DIGITAL INFRASTRUCTURE TO ALLOW SENIORS TO RECORD VIDEO MESSAGES AT STORY-SITES | $30,000 |
OPERATION BETTER BLOCK PURPOSE: AID FOR FINANCIAL CRISIS TO CREATE A FINANCAL SPENDING TRACKING SYSTEM | $25,000 |
ALLEGHENY LAND TRUST PURPOSE: RETAIN DEI CONSULTANT TO DEVELOP POLICIES, PRACTICES, AND PROGRAMS | $25,000 |
AWAKEN PITTSBURGH PURPOSE: TO DEVELOP A SHARED COMMUNITY HEALTH, EDUCATION, AND WELLBEING SPACE | $30,000 |
RADIANT HALL STUDIOS PURPOSE: TO EXPLORE JOINT OPERATIONS | $20,000 |