For-M Inc
- Assets
- $6.0m
- Revenue
- $1.6m
- Investments
- $3.8m
- Employees
- 12
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2022
- EIN
- 84-3213548
Organization Overview
For-M Inc is located in Milwaukee, WI. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, For-M Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. For-M Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, For-M Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. 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 INCLUSIVELY DOUBLE TECH TALENT IN SOUTHEAST WISCONSIN IN ORDER TO DRIVE ENDURING ECONOMIC PROSPERITY AND CREATE LIFE CHANGING OPPORTUNITIES IN TECHNOLOGY. OUR FOUR AREAS OF FOCUS INCLUDE: 1. ATTRACTION OF TECH TALENT AND COMPANIES TO THE REGION2. BUILDING A DIVERSE TECH TALENT PIPELINE3. SCALING THE INNOVATION ECOSYSTEM 4. BUILDING CONNECTIONS AND COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL BRANDINGADVANCE THE IMAGE OF THE MILWAUKEE REGION AS A TECHNOLOGY REGION WHICH ATTRACTS BOTH TECH COMPANIES AND WORKERS. THIS INCLUDES PROMOTING OUR STRENGTHS IN WATER/ENERGY TECHNOLOGY, HEALTHTECH, FINANCIAL PAYMENTS, AND INSURTECH.
TECH JOBSSUPPORT EFFORTS TO CREATE AN ENVIRONMENT ATTRACTIVE TO TECHNOLOGY COMPANIES WITH THE GOAL BEING TO PROVIDE CAREER OPPORTUNITIES. THIS INCLUDES OUR WORK TO DEVELOP OUR TECH-BASED INDUSTRY CLUSTERS, INCLUDING FEDERAL GRANT OPPORTUNITIES SUCH AS NSF ECONOMIC ENGINES (ENERGY/WATER RESILIENCY IN MANUFACTURING), AND EDA TECH HUBS (BIO-TECHNOLOGY)
PRE-INTERNSHIP - OVER 85 INDIVIDUALS SERVED, WITH 87% FROM DEMOGRAPHICS TRADITIONALLY UNDERREPRESENTED IN TECH
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Mulroy Chair | OfficerTrustee | 0.5 | $0 |
Sangeetha Rai Vice Chair | OfficerTrustee | 0.5 | $0 |
Dan Renouard Treasurer | OfficerTrustee | 0.5 | $0 |
Rebecca Janutis Director | Trustee | 0.5 | $0 |
Wendy Schafer Director | Trustee | 0.5 | $0 |
Eric Senn Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,668 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $360,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,112,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,507,868 |
| Total Program Service Revenue | $0 |
| Investment income | $112,501 |
| 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 | $1,633,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,250 |
| 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. | $297,340 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,884 |
| Fees for services: Accounting | $63,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,041 |
| Advertising and promotion | $4,842 |
| Office expenses | $2,065 |
| Information technology | $9,903 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,117 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,635 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,820 |
| Insurance | $3,358 |
| All other expenses | $997 |
| Total functional expenses | $1,046,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $935,124 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $720,404 |
| Accounts receivable, net | $0 |
| 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 | $8,087 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,828,345 |
| Investments—program-related | $0 |
| Intangible assets | $24,629 |
| Other assets | $440,737 |
| Total assets | $5,957,326 |
| Accounts payable and accrued expenses | $210,372 |
| Grants payable | $0 |
| Deferred revenue | $11,457 |
| 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 | $221,829 |
| Net assets without donor restrictions | $5,018,497 |
| Net assets with donor restrictions | $717,000 |
| 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 | $5,957,326 |
Grants Awarded
Over the last fiscal year, For-M Inc has awarded $180,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOR-M FOUNDATION PURPOSE: GENERAL SUPPORT | $175,000 |
MILWAUKEE WORLD FESTIVAL PURPOSE: SPONSORSHIP | $5,250 |