Forrest Spence Fund
- Assets
- $1.5m
- Revenue
- $829.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Memphis, TN
- Founding
- 08/2010
- Data as of
- 12/2021
- EIN
- 27-0151429
Organization Overview
Forrest Spence Fund is located in Memphis, TN. The organization was established in 2010. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 12/2021, Forrest Spence Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forrest Spence Fund 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, Forrest Spence Fund generated $829.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $461.6k during the year ending 12/2021. While expenses have increased by 21.9% 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
ASSIST WITH NONMEDICAL NEEDS OF CRITICALLY OR CHRONICALLY ILL CHILDREN AND THEIR FAMILIES THROUGHOUT THE MIDSOUTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST WITH NONMEDICAL NEEDS OF CRITICALLY OR CHRONICALLY ILL CHILDREN AND THEIR FAMILIES THROUGHOUT THE MIDSOUTH
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leah Greene Secretary | Officer | 3 | $0 |
David Spence President | Officer | 5 | $0 |
Brittany Spence Executive Director | Officer | 10 | $0 |
Gregg Smith Treasurer | Officer | 3 | $0 |
William Martin Director | Trustee | 3 | $0 |
Richard Vining Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $312,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $406,311 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $719,209 |
| Total Program Service Revenue | $0 |
| Investment income | $110,698 |
| 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 | $829,907 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $112,760 |
| Grants and other assistance to domestic individuals. | $119,463 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $93,059 |
| Compensation of current officers, directors, key employees. | $24,474 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,069 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,910 |
| Advertising and promotion | $0 |
| Office expenses | $51,612 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,574 |
| Insurance | $2,864 |
| All other expenses | $3,722 |
| Total functional expenses | $461,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $643,207 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $17,879 |
| Net Land, buildings, and equipment | $2,277 |
| Investments—publicly traded securities | $795,484 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,458,847 |
| Accounts payable and accrued expenses | $13,903 |
| 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 | $13,903 |
| Net assets without donor restrictions | $1,290,846 |
| Net assets with donor restrictions | $154,098 |
| 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 | $1,458,847 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Forrest Spence Fund has recieved totaling $56,050.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $22,000 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: CHATTANOOGA GENERAL OPERATING FUND | $15,000 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $9,550 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $9,000 |
Equitable Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeastern Community Action Partnership Inc Lumberton, NC | $11,958,279 | $19,896,705 |
The Arc Of Southwest Georgia Inc Albany, GA | $6,771,229 | $11,186,192 |
North Carolina Justice Center Raleigh, NC | $7,153,656 | $8,035,969 |
National Council Of The United States Society Of St Vincent De Pa Maryland Heights, MO | $13,687,159 | $9,469,574 |
Nuestros Pequenos Hermanosinternational Round Hill, VA | $4,147,042 | $6,283,043 |
The Orphanetwork Virginia Beach, VA | $3,197,466 | $6,293,778 |
Georgia Southern University Athletic Foundation Inc Statesboro, GA | $44,746,506 | $10,941,210 |
Camp Southern Ground Inc Fayetteville, GA | $42,360,262 | $6,762,157 |
Third Option Foundation Reston, VA | $24,876,503 | $12,300,421 |
Make-A-Wish Foundation Of Missouri And Kansas Ballwin, MO | $7,006,477 | $5,966,300 |
Hope For Justice Inc Nashville, TN | $1,240,056 | $3,979,236 |
Nurses For Newborns Maplewood, MO | $4,515,132 | $4,457,590 |