The Forge Initiative Inc
- Assets
- $92.3k
- Revenue
- $174.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Cary, NC
- Founding
- 07/2011
- Data as of
- 06/2022
- EIN
- 27-3380977
Organization Overview
The Forge Initiative Inc is located in Cary, NC. The organization was established in 2011. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forge Initiative 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 06/2022, Forge Initiative Inc generated $174.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $161.1k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER FAMILIES AND INDIVIDUALS OF ALL AGES TO COLLABORATIVELY EXPLORE, LEARN, AND LEAD USING TECHNOLOGY AND ENGINEERING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPETITIVE ROBOTICS TEAMS SERVE STUDENTS AGES 6-18 WORKING WITH ADULT MENTORS TO PARTICIPATE IN VARIOUS LEVELS OF COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Rock Director | Trustee | 1 | $0 |
Gabriele Hester Director | Trustee | 1 | $0 |
Adrian Powell Director | Trustee | 1 | $0 |
Sowmya Raw Director | Trustee | 1 | $0 |
Patrick Easters Director | Trustee | 1 | $0 |
Linda Whipker Treasurer | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,830 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,895 |
| 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 | $174,135 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,137 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,202 |
| Office expenses | $203 |
| Information technology | $9,110 |
| Royalties | $0 |
| Occupancy | $69,478 |
| Travel | $25,658 |
| 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 | $1,165 |
| Insurance | $5,227 |
| All other expenses | $0 |
| Total functional expenses | $161,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,240 |
| Savings and temporary cash investments | $5 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $168 |
| 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 |
| Investments—publicly traded securities | $54,495 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,225 |
| Total assets | $92,333 |
| Accounts payable and accrued expenses | $11,530 |
| 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 | $11,530 |
| Net assets without donor restrictions | $80,803 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $80,803 |