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Forty-One Foundation EIN 38-7127320 Form 990 (PDF) Claim this org

Forty-One Foundation

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A private foundation based in Greenville, DE. It reported about $18K in revenue for 2025. For fiscal year 2025 it reported $18K in revenue, $35K in expenses, and $318K in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Greenville, DE
Filings
6 on file (2020–2025)
Revenue
$18KFY2025
Expenses
$35K
Net assets
$318K
People
5
Filings
6
Updates
0
More identity details & actions ⌄
EIN  38-7127320 Private foundation / grantmaker Greenville, DE
Form 990 (PDF)
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Size
<$100K
What they do
A private foundation based in Greenville, DE. It reported about $18K in revenue for 2025.
Leadership
David B Ripsom · Trustee
Money in and out
$18K revenue, $35K expenses
Bottom line
—
Grants paid & assets · FY2025
Total revenue
$18K
Pt VIII · Ln 12
Total expenses
$35K
Pt IX · Ln 25
Net assets
$318K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$17K
Total assets
318K
deployed as grants and operations
Grants paid
30K
in FY2025
Grants made
2grants
total in period
Payout rate
9%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 2 grants · $30K · 2025–2025
Ursuline Academy INCDE · FY2025$25,000
The American University of RomeDC · FY2025$5,000

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV2
Average grantPart XV$15K
Median grantPart XV$25K
Largest grantPart XV$25K
Top cause focusNTEEColleges & Universities (50%)

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$18K
FY2025▼ -39%
Expenses
$35K
FY2025▲ +197%
Total assets
$318K
FY2025▼ -5%
Total liabilities
$0
FY2025
Total revenue
$18K
Pt VIII · Ln 12
Total expenses
$35K
Pt IX · Ln 25
Net assets
$318K
Pt X · Ln 32
Total assetsPt II$318K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CForty-One Foundation
EINHdr · item D38-7127320
Principal addressHdr · item CGreenville, DE
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MDE
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20)
Ruling yearIRS BMFDec 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income100%$18K
Total revenueLn 12$18K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.87 Operating & administrative $0.13
Grants & contributions paid87%$30K
Operating & administrative13%$5K
Total functional expensesLn 25$35K

Balance Sheet

Part X · end of year
CashLn 1$12K
Total assetsLn 16$318K
Total liabilitiesLn 26$0
Total net assetsLn 32$318K
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $318K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $18K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $18K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $18K · Prior year $30K
-39%
Net-asset trend (YoY)
End of year $318K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $18K · Expenses $35K
-92%
Liabilities-to-Assets
Total liabilities — · Total assets $318K
—
Net-asset ratio
Net assets $318K · Total assets $318K
100%
People & payroll
Highest Reported Total Compensation
Individual David B Ripsom · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $35K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -39%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$18K revenue · viewing · ⤓ 990 PDF
FY2024$30K revenue · ⤓ 990 PDF
FY2023$11K revenue · ⤓ 990 PDF
FY2022$2K revenue · ⤓ 990 PDF
FY2021$15K revenue · ⤓ 990 PDF
FY2020$21K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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