philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Forsgate Foundation INC FY2021 filing

Tax-deductible

Monroe Twp, NJ501(c)(3)Foundations & GrantmakersEIN 27-0067456Revenue $157K in FY2021

On file with the IRSforsgatecc.com375 Forsgate Dr, 08831-1560 · Monroe Twp, NJTax-exempt since Dec 2006Publicly supported charity — 170(b)(1)(A)(vi)

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

The Foundation was formed exclusively to receive and administer funds for scientific, educational and charitable purposes. The Foundation sponsors special events to support local not-for-profit charities.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 2
filings with a surplus
Average surplus $8K a year · 4% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$45K
149% of total assets
Concern: liabilities are 149% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$157K
×27 vs prior year
Spent
$152K
To programs
97%
Net assets
−$15K
By yearFY2020–FY2024
Revenue
$157K
FY2021▲ ×27
Tap a bar for its year
Revenue by fiscal year
FY2020$6K
FY2021$157K
FY2022$230K
FY2023$136K
FY2024$128K
Expenses
$152K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$152K
FY2022$219K
FY2023Not on file
FY2024Not on file
Net assets
−$15K
FY2021▲ +23%
Tap a bar for its year
Net assets by fiscal year
FY2020−$19K
FY2021−$15K
FY2022−$4K
FY2023−$404
FY2024$3K

From the FY2021 Form 990 · see the original

Give Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2006.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $149K Management & general 3% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Christopher Schiavone
Chairman & Trustee
$0Pt VII · Sec A
Ronald a Schiavone
Executive Director & Trust
$0Pt VII · Sec A
Lemia Marinelli
Treasurer & Trustee
$0Pt VII · Sec A
See Forsgate Foundation INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Administers funds and sponsors events for scientific, educational, and charitable causes.

Questions for Forsgate Foundation INC

Tap to ask. Forsgate Foundation INC sees how many people are interested.

Your first name shows with your question. Forsgate Foundation INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $149K · in their own filed words · FY2021
01

Proceeds from the organization's fundraisers are used to support local not-for-profit charities in support of their scientific, educational and charitable purposes. The foundation sponsors special events to support local not-for-profit charities.

$149Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
United States Maritime Alliance LimitedFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 3 grants · $352K · 2021–2022
Troops First Foundation IncorporatedMD · FY2022$139,085
Annika FoundationMA · FY2022$64,231
Individual RecipientFY2021$148,580

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$157K
Ln 12
Other incomeLn 4–11$126K
Gifts and grantsLn 1h$31K
Money outPt IX
$152K
Ln 25
Programscol B$149K
Managementcol C$4K
Owns and owesPt X
−$15K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$31K
LiabilitiesLn 26$45K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$31K
Fundraising eventsLn 1c$16K
Other incomeLn 4–11$126K
Total revenueLn 12$157K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Total assetsLn 16$31K
LiabilitiesLn 26$45K
Net assetsLn 32−$15K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$22K$31K
Total assetsLn 16$22K$31K
LiabilitiesLn 26$42K$45K
Net assetsLn 32−$19K−$15K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$149K$149K
Accounting feesLn 11c$4K$4K
Other expenses (24a–d)Ln 24$335$335
Total functional expensesLn 25$152K$149K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $128K$3K 990 PDF
FY2023 $136K−$404 990 PDF
FY2022 $230K$219K$11K−$4K 990 PDF
FY2021 Viewing $157K$152K$5K−$15K 990 PDF
FY2020 $6K−$19K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $156,972 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,732$30,858
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$126,114
I-12 Total revenuePrior year $5,732$156,972
I-13 Grants and similar amounts paidPrior year $0$148,580
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,133$3,856
I-18 Total expensesPrior year $2,133$152,436
I-19 Revenue less expensesPrior year $3,599$4,536
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $156,972 across 5 lines filed
VIII-1c Fundraising events$16,100
VIII-1f All other contributions, gifts and grants$14,758
VIII-1h Total contributions, gifts and grants$30,858
VIII-8 Net income from fundraising eventsExcluded from tax $126,114$126,114
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $126,114$156,972
Part IX · Statement of functional expenses $152,436 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $148,580$148,580
IX-11c Accounting feesManagement $3,521$3,521
IX-24 Other expenses (24a–d)Management $335$335
IX-25 Total functional expensesPrograms $148,580 · Management $3,856 · Fundraising $0$152,436
Part X · Balance sheet $30,533 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $22,460$30,533
X-16 Total assetsStart of year $22,460$30,533
X-17 Accounts payable and accrued expensesStart of year $7,346$10,883
X-26 Total liabilitiesStart of year $41,946$45,483
X-27 Net assets without donor restrictionsStart of year −$19,486−$14,950
X-32 Total net assets or fund balancesStart of year −$19,486−$14,950
X-33 Total liabilities and net assetsStart of year $22,460$30,533
Part XI · Reconciliation of net assets −$14,950 net assets at year end
XI-1 Total revenue$156,972
XI-2 Total expenses$152,436
XI-3 Revenue less expenses$4,536
XI-4 Net assets at start of year−$19,486
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$14,950

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.