For-M Inc
- Assets
- $6.0m
- Revenue
- $1.4m
- Investments
- $4.0m
- Employees
- 11
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2021
- 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 12/2021, For-M Inc employed 11 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 12/2021, For-M Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
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
GROWTH OF THE STARTUP ECOSYSTEM (EARLY STAGE STARTUP INCUBATOR, REVERSE PITCH), K-20 (SUMMER TALENT INTERNSHIP PROGRAM, STRATEGIC PLANNING ON INCLUSIVE COMPUTER SCIENCE EDUCATION), RESKILLING (STATE APPROVAL OF APPRENTICESHIP PROGRAM), REGIONAL IMAGE (NATIONAL PROMOTION OF THE REGION AS A TECH REGION)
INCUBATOR - OVER 200 FOUNDERS SERVED AND OVER 100 IDEAS PROGRESSED
PRE-INTERNSHIP - OVER 85 INDIVIDUALS SERVED, WITH 87% FROM DEMOGRAPHICS TRADITIONALLY UNDERREPRESENTED IN TECH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Henrich Chief Executive Officer | Officer | 40 | $256,367 |
Laura Schmidt Chief Talent Development Officer | 40 | $148,015 | |
Dan Renouard Treasurer | OfficerTrustee | 0.5 | $0 |
James Jischke Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Molly Mulroy Chairperson | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $23,625 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $244,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,066,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,334,510 |
| Total Program Service Revenue | $0 |
| Investment income | $83,475 |
| 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 | $1,425,191 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,000 |
| Grants and other assistance to domestic individuals. | $120,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $302,222 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,482 |
| Pension plan accruals and contributions | $1,474 |
| Other employee benefits | $0 |
| Payroll taxes | $40,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,017 |
| Fees for services: Accounting | $50,059 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $172,209 |
| Advertising and promotion | $4,539 |
| Office expenses | $2,767 |
| Information technology | $10,157 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,080 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,227 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,820 |
| Insurance | $2,889 |
| All other expenses | $0 |
| Total functional expenses | $1,186,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,342,667 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $304,000 |
| 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 | $232 |
| Net Land, buildings, and equipment | $57,449 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,030,429 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $311,255 |
| Total assets | $6,046,032 |
| Accounts payable and accrued expenses | $554,339 |
| Grants payable | $0 |
| Deferred revenue | $13,625 |
| 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 | $567,964 |
| Net assets without donor restrictions | $5,094,068 |
| Net assets with donor restrictions | $384,000 |
| 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 | $6,046,032 |
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