Business Forward INC FY2022 filing

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To build support for policies that promote america's economic competitiveness.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$916K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $803K a year · 25% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$916K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
17 mo
of spending, in cash
Looks good: 17.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $520K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.7M
-11% vs prior year
Spent
$2.5M
Net assets
$3.6M
By yearFY2020–FY2024
Revenue
$3.7M
FY2022▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$4.1M
FY2022$3.7M
FY2023$3.3M
FY2024$3.3M
Expenses
$2.5M
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$1000K
FY2021$2.3M
FY2022$2.5M
FY2023$2.7M
FY2024$3.4M
Net assets
$3.6M
FY2022▲ +48%
Tap a bar for its year
Net assets by fiscal year
FY2020$634K
FY2021$2.4M
FY2022$3.6M
FY2023$4.2M
FY2024$4.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

7 people listed on the 990; $916K paid to officers and key staff.

Part VII, Section A · reportable compensation
Officer-Director
$628,000Pt VII · Sec A
Employee
$157,500Pt VII · Sec A
$130,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

James Doyle’s $950K as Officer-Director is at the 100th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
James Doyle$950,000$625,000$628,000$479,497$364,085
Carrie Gay$132,000—$157,500——
Elizabeth Fairchild$146,250$150,000$130,000$100,000—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Advocates for policies that boost America's economic competitiveness.

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

The organization conducts press briefings and outreach to gainpositive and effective dissemination of the organization'sactivities, to encourage participation, and to promote theorganization's content.

Pt IX · col B
02

The organization sponsors briefings, panels and otherevents throughout the country focusing on health care, cleanenergy, education, environmental reforms and other public policyareas.

Pt IX · col B
03

The organization communicates with the business community and itsmembers on issues important to the organization.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$520K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$3.7M
Ln 12
Gifts and grantsLn 1h$3.7M
Investment incomeLn 3$5K
Money outPt IX
$2.5M
Ln 25
Owns and owesPt X
$3.6M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$3.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.7M
Investment incomeLn 3$5K
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$3.5M
Land, buildings, equipmentLn 10c$13K
Other assetsLn 15$11K
Total assetsLn 16$3.6M
LiabilitiesLn 26$0
Net assetsLn 32$3.6M
OperationsPt I, VI
EmployeesI 513
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$2.4M$3.5M
Land, buildings, equipmentLn 10c$30K$13K
Total assetsLn 16$2.4M$3.6M
LiabilitiesLn 26$3K$0
Net assetsLn 32$2.4M$3.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$628K
Other salaries and wagesLn 7$734K
Pension plan contributionsLn 8$28K
Other employee benefitsLn 9$43K
Payroll taxesLn 10$83K
Legal feesLn 11b$3K
Accounting feesLn 11c$37K
Other fees for servicesLn 11g$509K
Advertising and promotionLn 12$134K
Office expensesLn 13$31K
OccupancyLn 16$53K
TravelLn 17$66K
Depreciation, depletion and amortizationLn 22$6K
InsuranceLn 23$10K
Other expenses (24a–d)Ln 24$99K
All other expensesLn 24e$28K
Total functional expensesLn 25$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.3M$3.4M−$98K$4.1M 990 PDF
FY2023 $3.3M$2.7M$620K$4.2M 990 PDF
FY2022 Viewing $3.7M$2.5M$1.2M$3.6M 990 PDF
FY2021 $4.1M$2.3M$1.8M$2.4M 990 PDF
FY2020 $1.6M$1000K$557K$634K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $3,662,919 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,093,500$3,658,400
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$4,519
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $4,093,500$3,662,919
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,007,172$1,515,633
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,321,048$975,095
I-18 Total expensesPrior year $2,328,220$2,490,728
I-19 Revenue less expensesPrior year $1,765,280$1,172,191
Part VI · Governance 6 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,662,919 across 5 lines filed
VIII-1b Membership dues$3,658,000
VIII-1f All other contributions, gifts and grants$400
VIII-1h Total contributions, gifts and grants$3,658,400
VIII-3 Investment incomeUnrelated business $4,519$4,519
VIII-12 Total revenueRelated to mission $0 · Unrelated business $4,519 · Excluded from tax $0$3,662,919
Part IX · Statement of functional expenses $2,490,728 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$628,000
IX-7 Other salaries and wages$733,959
IX-8 Pension plan contributions$27,825
IX-9 Other employee benefits$42,566
IX-10 Payroll taxes$83,283
IX-11b Legal fees$3,003
IX-11c Accounting fees$36,540
IX-11g Other fees for services$508,989
IX-12 Advertising and promotion$134,453
IX-13 Office expenses$30,525
IX-16 Occupancy$52,729
IX-17 Travel$65,580
IX-22 Depreciation, depletion and amortization$6,341
IX-23 Insurance$10,153
IX-24 Other expenses (24a–d)$99,169
IX-24e All other expenses$27,613
IX-25 Total functional expenses$2,490,728
Part X · Balance sheet $3,560,315 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $2,358,582$1,032,495
X-2 Savings and temporary cash investments$2,504,519
X-10c Land, buildings and equipment, netStart of year $30,118$12,577
X-15 Other assetsStart of year $10,724$10,724
X-16 Total assetsStart of year $2,402,476$3,560,315
X-25 Other liabilitiesStart of year $3,152$0
X-26 Total liabilitiesStart of year $3,152$0
X-32 Total net assets or fund balancesStart of year $2,399,324$3,560,315
X-33 Total liabilities and net assetsStart of year $2,402,476$3,560,315
Part XI · Reconciliation of net assets $3,560,315 net assets at year end
XI-1 Total revenue$3,662,919
XI-2 Total expenses$2,490,728
XI-3 Revenue less expenses$1,172,191
XI-4 Net assets at start of year$2,399,324
XI-8 Prior period adjustments−$11,200
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,560,315

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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