Forward Foundation Inc
- Assets
- $2.6m
- Revenue
- $183.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Janesville, WI
- Founding
- 12/1987
- Data as of
- 02/2021
- EIN
- 39-1571083
Organization Overview
Forward Foundation Inc is located in Janesville, WI. The organization was established in 1987. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Foundation 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 02/2021, Forward Foundation Inc generated $183.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $627.6k during the year ending 02/2021. 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
THE PURPOSE IS TO ENCOURAGE ECONOMIC DEVELOPMENT BY MARKETING AND PROMOTING ACTIVITIES AIMED AT ATTRACTING NEW INDUSTRIES TO JANESVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT: THE PURPOSE IS TO ENCOURAGE ECONOMIC DEVELOPMENT BY MARKETING & PROMOTING ACTIVITIES AIMED AT ATTRACTING NEW INDUSTRIES TO JANESVILLE.
DOWNTOWN DEVELOPMENT: THE PURPOSE IS TO ENCOURAGE DEVELOPMENT OF THE DOWNTOWN OF JANESVILLE BY MARKETING & PROMOTING ACTIVITIES.
ROCK COUNTY 5.0 PROJECT: THIS IS A JOINT-COUNTY EFFORT TO IMPROVE THE ECONOMIC CONDITION OF THE AREA. THIS EFFORT WILL CONSIST OF 5 ECONOMIC DEVELOPMENT STRATEGIES - BUSINESS RETENTION & EXPANSION, BUSINESS & INVESTMENT ATTRACTION, REAL ESTATE POSITIONING, SMALL BUSINESS & ENTREPRENEURSHIP, & WORKFORCE PROFILING.
GOODWILL AMBASSADOR GRANTS: CONDUIT TO PROVIDE GRANTS TO LOCAL NON-PROFIT ENTITIES FROM DONATIONS PROVIED BY FORWARD JANESVILLE'S GOODWILL AMBASSADORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Gardinier Chair | OfficerTrustee | 1 | $0 |
Tim Lindau Vice Chair | OfficerTrustee | 1 | $0 |
Oakleigh Ryan Treasurer/secretary | OfficerTrustee | 1 | $0 |
John Beckord President | Officer | 1 | $0 |
Craig Degarmo Director | Trustee | 1 | $0 |
Larry Squire Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $194,009 |
| Investment income | $99 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$9,052 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,056 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $183,000 |
| 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 | $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 | $29,497 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $552 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,138 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $627,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,969 |
| Savings and temporary cash investments | $556,925 |
| Pledges and grants receivable | $786,372 |
| Accounts receivable, net | $9,836 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,555,599 |
| Accounts payable and accrued expenses | $8,098 |
| Grants payable | $0 |
| Deferred revenue | $899 |
| 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 | $613,052 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $622,049 |
| Net assets without donor restrictions | $0 |
| 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 | $1,933,550 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Forward Foundation Inc has recieved totaling $124,000.
| Awarding Organization | Amount |
|---|---|
Janesville Foundation Inc Janesville, WI PURPOSE: SUPPORT THE WOODMAN'S SPORTS & CONVENTION CENTER | $75,000 |
Janesville Foundation Inc Janesville, WI PURPOSE: DIRECTOR SEARCH FOR FORWARD JANESVILLE | $49,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Reinvestment Fund Inc Minneapolis, MN | $272,393,749 | $53,118,127 |
Iec Hotel Corporation West Des Moines, IA | $103,529,195 | $16,531,928 |
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
Black Hawk County Gaming Assoc Waterloo, IA | $18,246,475 | $5,898,126 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
Midtown Detroit Inc Detroit, MI | $6,098,841 | $4,938,478 |
Detriot Economic Growth Association Detroit, MI | $6,651,865 | $5,567,044 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Renaissance Development Fund Benton Harbor, MI | $26,943,889 | $2,827,375 |
Humans First Detroit Detroit, MI | $6,650,332 | $4,303,626 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |