Forman Family Foundation
- Assets
- $6.8m
- Revenue
- $263.4k
- Investments
- $6.5m
- Employees
- 0
- Location
- Cherry Hill, NJ
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 47-5669066
Organization Overview
Forman Family Foundation is located in Cherry Hill, NJ. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forman Family Foundation 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 12/2022, Forman Family Foundation generated $263.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (33.3%) each year. All expenses for the organization totaled $540.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard P Forman Trustee | 1 | $0 | |
Donna E Forman Trustee | 1 | $0 | |
Jack Forman Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $31,196 |
| Dividends & Interest | $171,097 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $61,072 |
| Capital Gain Net Income | $61,072 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $263,365 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $7,241 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,356 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,705 |
| Total operating and administrative expenses | $57,250 |
| Contributions, gifts, grants paid | $482,810 |
| Total expenses and disbursements | $540,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $300,790 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,752,675 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |