Forever Learning Institute Inc
- Assets
- $265.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- South Bend, IN
- Founding
- 03/1946
- Data as of
- 05/2023
- EIN
- 35-1878405
Organization Overview
Forever Learning Institute Inc is located in South Bend, IN. The organization was established in 1946. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Forever Learning Institute 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 05/2023, Forever Learning Institute Inc generated $151.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $137.6k during the year ending 05/2023. While expenses have increased by 4.0% per year over the past 5 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
FOREVER LEARNING INSTITUTE WAS FOUNDED IN 1974, AND FOR 49 YEARS WE HAVE SERVED AREA SENIOR ADULTS BY PROVIDING THEM WITH CONTINUING EDUCATION AND INCREASED SOCIAL INTERACTION OPPORTUNITIES. WE ARE A NONPROFIT 501(C)3 SCHOOL, WITH ALL-VOLUNTEER FACULTY THAT IS POPULATED BY A DEDICATED GROUP OF PROFESSIONAL INSTRUCTORS. FOREVER LEARNINGS AVERAGE STUDENTS AGE IS 74; WE SERVE STUDENTS WHO HAVE LIVED WELL INTO THEIR 90S; BUT WE DO ACCEPT STUDENTS AS YOUNG AS AGE 50. FIFTY-FIVE PERCENT OF OUR STUDENTS RESIDE IN SOUTH BEND, 17 PERCENT IN GRANGER AND 12 PERCENT IN MISHAWAKA. FOREVER LEARNING HAS JOINED WITH MULTIPLE COMMUNITY PARTNERS TO HELP WITH PROVIDING CLASSROOM SPACE AND PROGRAMMING. OUR PARTNERS INCLUDE: THE JEWISH FEDERATION OF ST. JOSEPH VALLEY, HOWARD PARK EVENT CENTER, ST. JOSEPH COUNTY PARKS, SOUTHFIELD VILLAGE, THE MUSIC VILLAGE, THE UNIVERSITY OF NOTRE DAME, SOUTH BEND CIVIC THEATER, AND REAL SERVICES. OUR SPRING 2023 SEMESTER OFFERED 90 COURSES, SERVING 800 STUDENTS THAT REGISTERED FOR 1100 CLASS SEATS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eve Finnessy Executive Di | 40 | $47,831 | |
Mark Beudert Director | 1 | $0 | |
Jessica Brock Director | 1 | $0 | |
Raymond J Camosy Director | 1 | $0 | |
Mary Jane Chase Director | 1 | $0 | |
James Kapsa Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,266 |
| Total Program Service Revenue | $112,264 |
| Membership dues | $0 |
| Investment income | $4,931 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $151,461 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $72,067 |
| Professional fees and other payments to independent contractors | $2,975 |
| Occupancy, rent, utilities, and maintenance | $23,250 |
| Printing, publications, postage, and shipping | $10,019 |
| Other expenses | $29,338 |
| Total expenses | $137,649 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $234,094 |
| Other assets | $0 |
| Total assets | $265,148 |
| Total liabilities | $0 |
| Net assets or fund balances | $265,148 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aaim Education Center Inc Saint Louis, MO | $596,076 | $2,072,321 |
Labor Institute For Training Inc Indianapolis, IN | $182,579 | $294,584 |
Have-A-Heart Inc River Falls, WI | $350,839 | $199,386 |
Forever Learning Institute Inc South Bend, IN | $265,148 | $0 |
Alpha Phi Omega Endowment Inc Kansas City, MO | $7,173,988 | $557,417 |
American Revenue Association Rockford, IL | $43,040 | $0 |