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Forward Foundation INC FY2021 filing

Tax-deductible

Janesville, WI501(c)(3)Community Development EIN 39-1571083Revenue $183K in FY2021

On file with the IRS14 S Jackson St Ste 200, 53548-3878 · Janesville, WITax-exempt since Dec 1987Publicly supported — 509(a)(2)

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The purpose is to encourage economic development by marketing and promoting activities aimed at attracting new industries to janesville.

501(c)(3) charity; gifts are tax-deductible.
93¢ 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $50K a year · 12% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $77K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$622K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183K
Spent
$628K
To programs
93%
Net assets
$1.9M
By yearFY2021–FY2025
Revenue
$183K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$183K
FY2022$221K
FY2023$407K
FY2024$979K
FY2025$357K
Expenses
$628K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$628K
FY2022$433K
FY2023$336K
FY2024$666K
FY2025$334K
Net assets
$1.9M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$1.9M
FY2022$1.7M
FY2023$1.8M
FY2024$2.1M
FY2025$2.1M

From the FY2021 Form 990 (year ending February 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1987.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $586K Management & general 7% · $41K

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

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
John Beckord
President
$0Pt VII · Sec A
Rich Gruber
Director
$0Pt VII · Sec A
David Hiller
Director
$0Pt VII · Sec A
Larry Squire
Director
$0Pt VII · Sec A
David Bagley
Director
$0Pt VII · Sec A
Tim Lindau
Director
$0Pt VII · Sec A
Tim Weber
Director
$0Pt VII · Sec A
Mitch Benson
Director
$0Pt VII · Sec A
See Forward Foundation INC executive salaries →

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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 15aNo

Programs and updates

Attracts new industries to Janesville to boost economic development.

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Provided by the organization

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3 programs · $586K · in their own filed words · FY2020
01

Downtown Development

The purpose is to encourage development of the downtown of janesville by marketing & promoting activities.

$565Kprogram expense
02

Rock County 5.0 Project

This is a joint-county effort to improve the economic condition of the area. This effort will consist of 5 economic development strategies - business retention & expansion, business & investment attraction, real estate positioning, small business & entrepreneurship, & workforce profiling.

$22Kprogram expense
03

Economic Development

The purpose is to encourage economic development by marketing & promoting activities aimed at attracting new industries to janesville.

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 · received and paid
Grants received · FY2024
Kennedy Family Foundation INCFY2024$30K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$18K
The Chicago Community TrustFY2024$12K
American Endowment FoundationFY2024$10K
The US Charitable Gift TrustFY2024$7K
Total grants receivedfrom 5 funders$77K
See all 5 funders →
Grants paid · 2 grants · $126K · 2023–2023
Forward Janesville INCWI · FY2023$86,200
Downtown Janesville INCWI · FY2023$40,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$183K
Ln 12
Gifts and grantsLn 1h$194K
Investment incomeLn 3$99
Money outPt IX
$628K
Ln 25
Programscol B$586K
Managementcol C$41K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$568K
Total assetsLn 16$2.6M
LiabilitiesLn 26$622K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$194K
Investment incomeLn 3$99
Total revenueLn 12$183K
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$557K
Cash and savings togetherLn 1–2$568K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$2.6M
LiabilitiesLn 26$622K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderFebruary
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$662K$568K
Land, buildings, equipmentLn 10c$729K$1.2M
Total assetsLn 16$2.7M$2.6M
LiabilitiesLn 26$294K$622K
Net assetsLn 32$2.4M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$29K$29K
Other fees for servicesLn 11g$552$552
OccupancyLn 16$11K$11K
Other expenses (24a–d)Ln 24$586K$586K
Total functional expensesLn 25$628K$586K$41K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $357K$334K$23K$2.1M 990 PDF
FY2024 $979K$666K$313K$2.1M 990 PDF
FY2023 $407K$336K$71K$1.8M 990 PDF
FY2022 $221K$433K−$213K$1.7M 990 PDF
FY2021 Viewing $183K$628K−$445K$1.9M 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 O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $183,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $867,125$194,009
I-9 Program service revenuePrior year $52,950$0
I-10 Investment incomePrior year $1,040$99
I-11 Other revenuePrior year −$68,069−$11,108
I-12 Total revenuePrior year $853,046$183,000
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $912,520$627,629
I-18 Total expensesPrior year $912,520$627,629
I-19 Revenue less expensesPrior year −$59,474−$444,629
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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 $183,000 across 6 lines filed
VIII-1f All other contributions, gifts and grants$194,009
VIII-1h Total contributions, gifts and grants$194,009
VIII-3 Investment incomeExcluded from tax $99$99
VIII-6 Net rental income or lossRelated to mission −$1,016 · Unrelated business −$8,036−$9,052
VIII-8 Net income from fundraising eventsExcluded from tax −$2,056−$2,056
VIII-12 Total revenueRelated to mission −$1,016 · Unrelated business −$8,036 · Excluded from tax −$1,957$183,000
Part IX · Statement of functional expenses $627,629 across 4 lines filed
IX-11c Accounting feesManagement $29,497$29,497
IX-11g Other fees for servicesManagement $552$552
IX-16 OccupancyManagement $11,138$11,138
IX-24 Other expenses (24a–d)Programs $586,442$586,442
IX-25 Total functional expensesPrograms $586,442 · Management $41,187 · Fundraising $0$627,629
Part X · Balance sheet $2,555,599 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $21,999$10,969
X-2 Savings and temporary cash investmentsStart of year $639,778$556,925
X-3 Pledges and grants receivableStart of year $1,205,648$786,372
X-4 Accounts receivableStart of year $75,839$9,836
X-10c Land, buildings and equipment, netStart of year $728,675$1,191,497
X-16 Total assetsStart of year $2,671,939$2,555,599
X-17 Accounts payable and accrued expensesStart of year $64,859$8,098
X-19 Deferred revenueStart of year $899$899
X-26 Total liabilitiesStart of year $293,760$622,049
X-27 Net assets without donor restrictionsStart of year $525,092$519,282
X-28 Net assets with donor restrictionsStart of year $1,853,087$1,414,268
X-32 Total net assets or fund balancesStart of year $2,378,179$1,933,550
X-33 Total liabilities and net assetsStart of year $2,671,939$2,555,599
Part XI · Reconciliation of net assets $1,933,550 net assets at year end
XI-1 Total revenue$183,000
XI-2 Total expenses$627,629
XI-3 Revenue less expenses−$444,629
XI-4 Net assets at start of year$2,378,179
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,933,550

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

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