Forward Community Investments Inc
- Assets
- $33.1m
- Revenue
- $3.4m
- Investments
- $2.3m
- Employees
- 0
- Location
- Madison, WI
- Founding
- 05/1995
- Data as of
- 12/2023
- EIN
- 39-1815578
Organization Overview
Forward Community Investments Inc is located in Madison, WI. The organization was established in 1995. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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 Community Investments 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 12/2023, Forward Community Investments Inc generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Forward Community Investments Inc has awarded 42 individual grants totaling $2,792,077. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1994, FORWARD COMMUNITY INVESTMENTS (FCI) HAS SUPPORTED MISSION-BASED, WISCONSIN-HEADQUARTERED ORGANIZATIONS BY PROVIDING LOAN CAPITAL, FINANCIAL EXPERTISE, AND ORGRANIZATIONAL CAPACITY BUILDING FOR AFFORDABLE HOUSING, COMMUNITY SERVICES, AND ECONOMIC DEVELOPMENT INITIATIVES. DURING THAT TIME PERIOD, FCI LENT CLOSE TO $106.8 MILLION TO 387+ MISSION-DRIVEN ORGANIZATIONS, MAKING A DIFFERENCE IN THE LIVES OF MORE THAN 721,000 PEOPLE. FCI'S LOANS HAVE SEEDED AND LEVERAGED ADDITIONAL PRIVATE AND GOVERNMENT FUNDING AT A RATE OF 3:1 FOR COMMUNITY PROJECTS ACROSS WISCONSIN, GENERATING MORE THAN 2,651 UNITS OF AFFORDABLE HOUSING, AND CREATING OR RETAINING CLOSE TO 6,870 JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LENDING SERVICES - FCI'S LENDING SERVICES INCORPORATE ACTIVITIES ESSENTIAL TO PROVIDING LOANS TO FCI'S CLIENTS. THOSE SERVICES INCLUDE DEVELOPING AND MAINTAINING CLIENT, LENDER AND INVESTOR RELATIONS; PROCESSING LOAN REQUESTS; UNDERWRITING; LOAN SERVICING; TECHNICAL ASSISTANCE AND CONSULTING FOR CLIENTS; AND RAISING AND SERVICING INVESTMENTS.
COMMUNITY INVESTMENTS - ACTIVITIES INCLUDE PLANNING, IMPLEMENTATION AND OVERSIGHT OF THE ANNUAL GRANTS PROCESS; OVERSIGHT OF ANNUAL DISTRIBUTIONS FROM DONOR ADVISED FUNDS; DEVELOPING AND MAINTAINING GRANTEE AND STAKEHOLDER RELATIONSHIPS; AND PROCESSING AND SERVICING GRANT REQUESTS. THIS ALSO INCLUDES PROGRAMS FUNDED BY LARGER GRANTS THAT HAVE A PASS-THROUGH GRANT ASPECT TO THEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jasmine Mercado Co-Chair | OfficerTrustee | 1 | $0 |
Mike Flynn Co-Chair | OfficerTrustee | 1 | $0 |
Pamela Guthman Secretary | OfficerTrustee | 1 | $0 |
Paul Fehrenbach Treasurer | OfficerTrustee | 1 | $0 |
Jeff Mack Jr Director | Trustee | 1 | $0 |
Raynetta Hill Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $140,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,048 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,048 |
| Total Program Service Revenue | $2,977,240 |
| Investment income | $225,378 |
| 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 | $3,357,666 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,000 |
| 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. | $253,711 |
| Compensation of current officers, directors, key employees. | $152,227 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $978,337 |
| Pension plan accruals and contributions | $39,670 |
| Other employee benefits | $35,891 |
| Payroll taxes | $86,002 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90,590 |
| Fees for services: Accounting | $49,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $199,460 |
| Advertising and promotion | $85,302 |
| Office expenses | $121,638 |
| Information technology | $107,563 |
| Royalties | $0 |
| Occupancy | $108,702 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,388 |
| Interest | $340,488 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,515 |
| Insurance | $19,359 |
| All other expenses | $1,316 |
| Total functional expenses | $2,652,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $515,010 |
| Savings and temporary cash investments | $5,164,705 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,724 |
| 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 | $64,233 |
| Net Land, buildings, and equipment | $354,563 |
| Investments—publicly traded securities | $2,213,617 |
| Investments—other securities | $2,310,084 |
| Investments—program-related | $21,548,043 |
| Intangible assets | $0 |
| Other assets | $835,074 |
| Total assets | $33,131,053 |
| Accounts payable and accrued expenses | $567,246 |
| Grants payable | $15,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $184,078 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $15,272,247 |
| Other liabilities | $1,078,655 |
| Total liabilities | $17,117,226 |
| Net assets without donor restrictions | $13,744,334 |
| Net assets with donor restrictions | $2,269,493 |
| 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 | $33,131,053 |
Grants Awarded
Over the last fiscal year, Forward Community Investments Inc has awarded $55,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAYTON BOULEVARD WEST NEIGHBORS INC PURPOSE: AFFORDABLE HOUSING LUSH HOME PROJECT | $40,000 |
MADISON READING PROJECT INC PURPOSE: NEW BUS PROGRAM EXTENSION | $15,000 |