Founders Forest INC: FY2020 Nonprofit Profile & Form 990 (EIN 54-1185224)

Revenue by fiscal year
FY2020	$1.4M
FY2021	$1.5M
FY2022	$1.5M
FY2023	$1.7M
FY2024	$1.9M
FY2025	$1.9M

Expenses by fiscal year
FY2020	$1.4M
FY2021	$1.5M
FY2022	$1.5M
FY2023	$1.5M
FY2024	$1.6M
FY2025	$1.7M

Net assets by fiscal year
FY2020	$2.4M
FY2021	$2.4M
FY2022	$2.4M
FY2023	$2.5M
FY2024	$2.8M
FY2025	$3.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1982.

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

Part of a larger organization · Schedule R

Founders Forest INC files its own Form 990, but Schedule R discloses 9 related entities — figures on this page are for this EIN only, not the whole group.

Warm Hearth INC · Nrv Nursing Center Incorporated · New Century Housing INC · Warm Hearth Hospice INC + 5 more · see all

Combined filings · FY2020 · 9 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 6% of group revenue.

Group revenue

$21.9M

Group expenses

$21.9M

Group net assets

$428K

Warm Hearth INC · $1.6M rev · −$489K net assets

Nrv Nursing Center Incorporated · $10.3M rev · −$2.2M net assets

New Century Housing INC · $635K rev · −$18K net assets

Warm Hearth at Home INC · $1.1M rev · −$566K net assets

Trolinger House INC · $1.2M rev · −$919K net assets

New River House INC · $522K rev · −$610K net assets

Where the money goes

65 cents of each dollar spent went to programs.

65%

35%

Program services 65% · $930K Management & general 35% · $495K

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

22 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Ed Spencer

Chair

$0Pt VII · Sec A

William Price

Vice Chairman

$0Pt VII · Sec A

Hing-Har Lo

Secretary

$0Pt VII · Sec A

Jason Pospichal

Vice Chairman/Treasurer

$0Pt VII · Sec A

Katherine Allen

Director

$0Pt VII · Sec A

Stephen Chandler

Director

$0Pt VII · Sec A

William Haithcock

Director

$0Pt VII · Sec A

Charles Johnson

Director

$0Pt VII · Sec A

See Founders Forest 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

Provides affordable housing and services for elderly individuals.

Questions for Founders Forest INC

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Provided by the organization

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1 program · $930K · in their own filed words · FY2019

01

The corporation provides housing facilities and services specially designed to meet the needs of elderly persons. The corporation provides housing and services to approximately 100 persons.

$930Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.4M

Ln 12

Fees for servicesLn 2g$1.4M

Other incomeLn 4–11$7K

Investment incomeLn 3$105

Money outPt IX

$1.4M

Ln 25

Programscol B$930K

Managementcol C$495K

Owns and owesPt X

$2.4M

net assets · Ln 32

Cash and savingsLn 1–2$615K

Total assetsLn 16$10.6M

LiabilitiesLn 26$8.2M

PeoplePt VI, VII

22

listed · VII A

PaidVII A0

Voting boardVI 1a17

IndependentVI 1b17

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$1.4M

Investment incomeLn 3$105

Other incomeLn 4–11$7K

Total revenueLn 12$1.4M

Assets in detailPt X, end of year

SavingsLn 2$615K

Cash and savings togetherLn 1–2$615K

Land, buildings, equipmentLn 10c$4.9M

Other assetsLn 15$5.0M

Total assetsLn 16$10.6M

LiabilitiesLn 26$8.2M

Net assetsLn 32$2.4M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderSeptember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$371K	$615K
Land, buildings, equipmentLn 10c	$5.2M	$4.9M
Total assetsLn 16	$11.3M	$10.6M
LiabilitiesLn 26	$7.0M	$8.2M
Net assetsLn 32	$4.3M	$2.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Legal feesLn 11b	$3K		$3K
Accounting feesLn 11c	$10K		$10K
Other fees for servicesLn 11g	$49K	$33K	$16K
Advertising and promotionLn 12	$18K		$18K
Office expensesLn 13	$21K	$21K	$255
Information technologyLn 14	$33K		$33K
OccupancyLn 16	$185K	$84K	$101K
TravelLn 17	$4K	$3K	$639
Conferences, conventions and meetingsLn 19	$2K	$483	$1K
Depreciation, depletion and amortizationLn 22	$409K	$409K
InsuranceLn 23	$20K	$20K
Other expenses (24a–d)Ln 24	$652K	$354K	$298K
All other expensesLn 24e	$20K	$6K	$14K
Total functional expensesLn 25	$1.4M	$930K	$495K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.9M	$1.7M	$223K	$3.0M	990 PDF
FY2024	$1.9M	$1.6M	$287K	$2.8M	990 PDF
FY2023	$1.7M	$1.5M	$128K	$2.5M	990 PDF
FY2022	$1.5M	$1.5M	−$25K	$2.4M	990 PDF
FY2021	$1.5M	$1.5M	$22K	$2.4M	990 PDF
FY2020 Viewing	$1.4M	$1.4M	−$11K	$2.4M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2020 990 (6 parts)

Part I · Summary $1,413,308 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,283$0

I-9 Program service revenuePrior year $1,589,808$1,406,144

I-10 Investment incomePrior year $425$105

I-11 Other revenuePrior year $0$7,059

I-12 Total revenuePrior year $1,591,516$1,413,308

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 $542,821$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $829,063$1,424,690

I-18 Total expensesPrior year $1,371,884$1,424,690

I-19 Revenue less expensesPrior year $219,632−$11,382

Part VI · Governance 17 of 17 board members independent, 1 to look at

VI-1a Voting members of the governing body17

VI-1b Independent voting members17

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $1,413,308 across 3 lines filed

Lines not itemized here account for $7,059 of total revenue; see the IRS return.

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,406,144$1,406,144

VIII-3 Investment incomeExcluded from tax $105$105

VIII-12 Total revenueRelated to mission $1,406,144 · Unrelated business $0 · Excluded from tax $7,164$1,413,308

Part IX · Statement of functional expenses $1,424,690 across 13 lines filed

IX-11b Legal feesManagement $3,474$3,474

IX-11c Accounting feesManagement $10,018$10,018

IX-11g Other fees for servicesPrograms $32,945 · Management $16,261$49,206

IX-12 Advertising and promotionManagement $17,577$17,577

IX-13 Office expensesPrograms $20,730 · Management $255$20,985

IX-14 Information technologyManagement $32,612$32,612

IX-16 OccupancyPrograms $84,006 · Management $101,104$185,110

IX-17 TravelPrograms $3,388 · Management $639$4,027

IX-19 Conferences, conventions and meetingsPrograms $483 · Management $1,356$1,839

IX-22 Depreciation, depletion and amortizationPrograms $408,671$408,671

IX-23 InsurancePrograms $19,772$19,772

IX-24 Other expenses (24a–d)Programs $354,093 · Management $297,735$651,828

IX-24e All other expensesPrograms $5,903 · Management $13,668$19,571

IX-25 Total functional expensesPrograms $929,991 · Management $494,699 · Fundraising $0$1,424,690

Part X · Balance sheet $10,579,770 assets, 13 lines filed

X-2 Savings and temporary cash investmentsStart of year $370,946$615,358

X-4 Accounts receivableStart of year $318$942

X-9 Prepaid expenses and deferred chargesStart of year $3,371$1,686

X-10c Land, buildings and equipment, netStart of year $5,206,206$4,935,844

X-15 Other assetsStart of year $0$5,025,940

X-16 Total assetsStart of year $11,324,840$10,579,770

X-17 Accounts payable and accrued expensesStart of year $91,035$100,053

X-19 Deferred revenueStart of year $2,132,660$3,489,686

X-25 Other liabilitiesStart of year $4,803,334$4,602,551

X-26 Total liabilitiesStart of year $7,027,029$8,192,290

X-27 Net assets without donor restrictionsStart of year $4,297,811$2,387,480

X-32 Total net assets or fund balancesStart of year $4,297,811$2,387,480

X-33 Total liabilities and net assetsStart of year $11,324,840$10,579,770

Part XI · Reconciliation of net assets $2,387,480 net assets at year end

XI-1 Total revenue$1,413,308

XI-2 Total expenses$1,424,690

XI-3 Revenue less expenses−$11,382

XI-4 Net assets at start of year$4,297,811

XI-9 Other changes in net assets−$1,898,949

XI-10 Net assets at end of year$2,387,480

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Founders Forest INC FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Founders Forest INC

Funders

By the numbers

Filing history

Schedules filed Part IV

Founders Forest INC FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Founders Forest INC

Funders

Related Organizations

By the numbers

Filing history

Schedules filed Part IV