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

Founders Forest INC FY2021 filing

Not tax-deductible

Blacksburg, VA501(c)(4)Since 1981EIN 54-1185224Revenue $1.5M in FY2021

On file with the IRSretire.org2607 Warm Hearth Dr Ste 100, 24060-6247 · Blacksburg, VATax-exempt since Nov 1982

This page gets seen. Tell your story. Claim this org.

Housing for elderly.

67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
3 of 5
filings with a surplus
Average surplus $80K a year · 5% 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
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.9M
77% of total assets
Worth a look: liabilities are 77% of assets; over 65%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+6% vs prior year
Spent
$1.5M
To programs
67%
Net assets
$2.4M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.5M
FY2023$1.7M
FY2024$1.9M
FY2024$1.9M
Expenses
$1.5M
FY2021▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.5M
FY2023$1.5M
FY2024$1.6M
FY2024$1.7M
Net assets
$2.4M
FY2021▲ +0.9%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.4M
FY2023$2.5M
FY2024$2.8M
FY2024$3.0M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · 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 Nov 1982.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $991K Management & general 33% · $486K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

22 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$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
$0Pt VII · Sec A
$0Pt VII · Sec A
Tara French
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Founders Forest INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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

Tap to ask. Founders Forest INC sees how many people are interested.

Your first name shows with your question. Founders Forest INC answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $991K · in their own filed words · FY2020
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.

$991Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$7K
Other incomeLn 4–11$4K
Money outPt IX
$1.5M
Ln 25
Programscol B$991K
Managementcol C$486K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$10.3M
LiabilitiesLn 26$7.9M
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$1.5M
Investment incomeLn 3$7K
Other incomeLn 4–11$4K
Gains on assetsLn 7$7K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.0M
Land, buildings, equipmentLn 10c$5.0M
Other assetsLn 15$4.3M
Total assetsLn 16$10.3M
LiabilitiesLn 26$7.9M
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
LineStart FY21End FY21
Cash and savingsLn 1–2$615K$1.0M
Land, buildings, equipmentLn 10c$4.9M$5.0M
Total assetsLn 16$10.6M$10.3M
LiabilitiesLn 26$8.2M$7.9M
Net assetsLn 32$2.4M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$31K$20K$10K
Advertising and promotionLn 12$25K$25K
Office expensesLn 13$22K$22K$307
Information technologyLn 14$29K$29K
OccupancyLn 16$167K$64K$102K
TravelLn 17$3K$3K$121
Conferences, conventions and meetingsLn 19$379$86$293
Depreciation, depletion and amortizationLn 22$502K$502K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$640K$349K$291K
All other expensesLn 24e$19K$7K$12K
Total functional expensesLn 25$1.5M$991K$486K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
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 Viewing $1.5M$1.5M$22K$2.4M 990 PDF
FY2020 $1.4M$1.4M−$11K$2.4M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2021 990 (6 parts)
Part I · Summary $1,499,289 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,406,144$1,488,121
I-10 Investment incomePrior year $105$7,357
I-11 Other revenuePrior year $7,059$3,811
I-12 Total revenuePrior year $1,413,308$1,499,289
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 $1,424,690$1,476,882
I-18 Total expensesPrior year $1,424,690$1,476,882
I-19 Revenue less expensesPrior year −$11,382$22,407
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 $1,499,289 across 4 lines filed
Lines not itemized here account for $3,811 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,488,121$1,488,121
VIII-3 Investment incomeExcluded from tax $171$171
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,186$7,186
VIII-12 Total revenueRelated to mission $1,488,121 · Unrelated business $0 · Excluded from tax $11,168$1,499,289
Part IX · Statement of functional expenses $1,476,882 across 13 lines filed
IX-11b Legal feesManagement $1,900$1,900
IX-11c Accounting feesManagement $12,467$12,467
IX-11g Other fees for servicesPrograms $20,429 · Management $10,403$30,832
IX-12 Advertising and promotionManagement $25,433$25,433
IX-13 Office expensesPrograms $21,655 · Management $307$21,962
IX-14 Information technologyManagement $29,216$29,216
IX-16 OccupancyPrograms $64,088 · Management $102,423$166,511
IX-17 TravelPrograms $2,770 · Management $121$2,891
IX-19 Conferences, conventions and meetingsPrograms $86 · Management $293$379
IX-22 Depreciation, depletion and amortizationPrograms $501,602$501,602
IX-23 InsurancePrograms $24,792$24,792
IX-24 Other expenses (24a–d)Programs $348,789 · Management $291,215$640,004
IX-24e All other expensesPrograms $6,822 · Management $12,071$18,893
IX-25 Total functional expensesPrograms $991,033 · Management $485,849 · Fundraising $0$1,476,882
Part X · Balance sheet $10,316,792 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $615,358$1,032,090
X-4 Accounts receivableStart of year $942$178
X-10c Land, buildings and equipment, netStart of year $4,935,844$5,004,800
X-15 Other assetsStart of year $5,025,940$4,279,724
X-16 Total assetsStart of year $10,579,770$10,316,792
X-17 Accounts payable and accrued expensesStart of year $100,053$85,697
X-19 Deferred revenueStart of year $3,489,686$3,173,888
X-25 Other liabilitiesStart of year $4,602,551$4,647,320
X-26 Total liabilitiesStart of year $8,192,290$7,906,905
X-27 Net assets without donor restrictionsStart of year $2,387,480$2,409,887
X-32 Total net assets or fund balancesStart of year $2,387,480$2,409,887
X-33 Total liabilities and net assetsStart of year $10,579,770$10,316,792
Part XI · Reconciliation of net assets $2,409,887 net assets at year end
XI-1 Total revenue$1,499,289
XI-2 Total expenses$1,476,882
XI-3 Revenue less expenses$22,407
XI-4 Net assets at start of year$2,387,480
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,409,887

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.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

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.