Since its founding, the Forward Arts Foundation has provided significant support to the visual Arts in atlanta, ga, including: (I) leadership grants for art exhibitions, (II) donations for specific art acquisitions by other local publicly supported Arts organizations, and (III) annual scholarships for local artists.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
4 of 6
filings with a surplus
Average surplus $399K a year · 16% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
30 mo
of spending, in cash
Looks good: 30.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$965K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 32 voting members
Looks good: 32 of 32 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
-11% vs prior year
Spent
$1.5M
To programs
90%
Net assets
$4.8M
By yearFY2020–FY2025
Revenue
$1.5M
FY2021▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$2.9M
FY2023$2.6M
FY2024$3.1M
FY2025$3.4M
Expenses
$1.5M
FY2021▼ -25%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$1.5M
FY2022$1.8M
FY2023$2.1M
FY2024$2.5M
FY2025$2.7M
Net assets
$4.8M
FY2021▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.9M
FY2021$4.8M
FY2022$6.0M
FY2023$6.5M
FY2024$7.1M
FY2025$7.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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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 Nov 1965.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $1.4M Management & general 9% · $137K Fundraising 1% · $16K

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

32 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Member, Chair
$0Pt VII · Sec A
Board Member, Secretary
$0Pt VII · Sec A
Board Member, Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member, Gallery
$0Pt VII · Sec A
Board Member, Gallery
$0Pt VII · Sec A
Board Member, Gift Shop
$0Pt VII · Sec A
Board Member, Restaurant
$0Pt VII · Sec A
See Forward Arts 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 15aYes

Programs and updates

Supports visual arts through exhibition grants, art acquisitions, and artist scholarships.

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Provided by the organization

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3 programs · $1.4M · in their own filed words · FY2020
01

Besides receiving member dues the foundation operates an art gallery to show and sell artwork as part of the foundation's primary purpose to support and further the arts in atlanta.

$1.4Mprogram expense
02

Operation of the swan coach house restaurant run by the foundation. The restaurant is also open to the public and available for use for special events and banquets for individuals and groups.

Pt IX · col B
03

Operation of a gift shop run by the foundation for the retail sale of gifts.

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 · FY2025
Total grants receivedfrom 1 funder$4K
Grants paid · 25 grants · $849K · 2019–2024
Michael C Carlos MuseumFY2024$150,000
Ernest G Welch School of Art and DesignFY2024$50,000
Unitemized GrantFY2024$22,500
Atlanta Center for PhotographyFY2024$10,000
High Museum of ArtGA · FY2023$100,000
Oglethorpe University Museum of ArtFY2023$25,000
Unitemized GrantFY2023$22,500
Dashboard Co-Op INCGA · FY2023$10,000
Agnes Scott CollegeGA · FY2023$10,000
Unitemized GrantFY2022$24,500
High Museum of ArtGA · FY2022$14,300
Unitemized GrantFY2021$21,700
See all 25 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$729K
Other incomeLn 4–11$701K
Investment incomeLn 3$29K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.4M
Managementcol C$137K
Fundraisingcol D$16K
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$3.8M
Total assetsLn 16$5.8M
LiabilitiesLn 26$965K
PeoplePt VI, VII
32
listed · VII A
PaidVII A0
Voting boardVI 1a32
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$729K
Government grantsLn 1e$202K
Noncash giftsLn 1g$39K
Fundraising eventsLn 1c$39K
Investment incomeLn 3$29K
Other incomeLn 4–11$701K
Gains on assetsLn 7$5K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$3.8M
Cash and savings togetherLn 1–2$3.8M
InvestmentsLn 11–13$1000K
Land, buildings, equipmentLn 10c$803K
Other assetsLn 15$25K
Total assetsLn 16$5.8M
LiabilitiesLn 26$965K
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 548
VolunteersI 6132
Fiscal year endsHeaderJune
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$2.1M$3.8M
InvestmentsLn 11–13$2.0M$1000K
Land, buildings, equipmentLn 10c$911K$803K
Total assetsLn 16$5.2M$5.8M
LiabilitiesLn 26$329K$965K
Net assetsLn 32$4.9M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Grants to domestic individualsLn 2$22K$22K
Other salaries and wagesLn 7$672K$611K$47K$15K
Other employee benefitsLn 9$3K$2K$185$59
Payroll taxesLn 10$51K$47K$4K$1K
Legal feesLn 11b$21K$14K$7K
Accounting feesLn 11c$51K$34K$17K
Other fees for servicesLn 11g$67K$45K$23K
Advertising and promotionLn 12$18K$18K$90
Office expensesLn 13$77K$74K$2K
Information technologyLn 14$33K$32K$1K
OccupancyLn 16$42K$42K$262
TravelLn 17$2K$2K
Depreciation, depletion and amortizationLn 22$151K$124K$27K
InsuranceLn 23$60K$57K$4K
Other expenses (24a–d)Ln 24$236K$233K$3K
Total functional expensesLn 25$1.5M$1.4M$137K$16K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.4M$2.7M$642K$7.7M 990 PDF
FY2024 $3.1M$2.5M$561K$7.1M 990 PDF
FY2023 $2.6M$2.1M$477K$6.5M 990 PDF
FY2022 $2.9M$1.8M$1.1M$6.0M 990 PDF
FY2021 Viewing $1.5M$1.5M−$53K$4.8M 990 PDF
FY2020 $1.6M$2.0M−$366K$4.9M 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 M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,459,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $764,382$729,475
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $10,399$29,189
I-11 Other revenuePrior year $874,123$701,058
I-12 Total revenuePrior year $1,648,904$1,459,722
I-13 Grants and similar amounts paidPrior year $238,500$27,700
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $947,984$726,525
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $828,177$758,893
I-18 Total expensesPrior year $2,014,661$1,513,118
I-19 Revenue less expensesPrior year −$365,757−$53,396
Part VI · Governance 32 of 32 board members independent, no flags
VI-1a Voting members of the governing body32
VI-1b Independent voting members32
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,459,722 across 12 lines filed
Lines not itemized here account for $632,229 of total revenue; see the IRS return.
VIII-1b Membership dues$107,253
VIII-1c Fundraising events$38,865
VIII-1e Government grants$201,701
VIII-1f All other contributions, gifts and grants$381,656
VIII-1g Noncash contributions (included above)$38,965
VIII-1h Total contributions, gifts and grants$729,475
VIII-3 Investment incomeExcluded from tax $23,896$23,896
VIII-6 Net rental income or lossUnrelated business $99,121$99,121
VIII-7 Net gain or loss on sales of assetsUnrelated business $5,293$5,293
VIII-8 Net income from fundraising eventsExcluded from tax −$59,976−$59,976
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $22,119 · Unrelated business $7,565$29,684
VIII-12 Total revenueRelated to mission $58,441 · Unrelated business $707,886 · Excluded from tax −$36,080$1,459,722
Part IX · Statement of functional expenses $1,513,118 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $6,000$6,000
IX-2 Grants to domestic individualsPrograms $21,700$21,700
IX-7 Other salaries and wagesPrograms $610,607 · Management $46,937 · Fundraising $14,833$672,377
IX-9 Other employee benefitsPrograms $2,413 · Management $185 · Fundraising $59$2,657
IX-10 Payroll taxesPrograms $46,761 · Management $3,594 · Fundraising $1,136$51,491
IX-11b Legal feesPrograms $13,934 · Management $7,133$21,067
IX-11c Accounting feesPrograms $33,646 · Management $17,222$50,868
IX-11g Other fees for servicesPrograms $44,644 · Management $22,852$67,496
IX-12 Advertising and promotionPrograms $17,779 · Management $90$17,869
IX-13 Office expensesPrograms $74,494 · Management $2,425$76,919
IX-14 Information technologyPrograms $31,989 · Management $1,041$33,030
IX-16 OccupancyPrograms $42,043 · Management $262$42,305
IX-17 TravelManagement $1,896$1,896
IX-22 Depreciation, depletion and amortizationPrograms $124,359 · Management $26,610$150,969
IX-23 InsurancePrograms $56,545 · Management $3,824$60,369
IX-24 Other expenses (24a–d)Programs $232,891 · Management $3,214$236,105
IX-25 Total functional expensesPrograms $1,359,805 · Management $137,285 · Fundraising $16,028$1,513,118
Part X · Balance sheet $5,804,080 assets, 18 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,090,346$3,819,158
X-3 Pledges and grants receivableStart of year $25,000$0
X-4 Accounts receivableStart of year $24,922$22,780
X-8 Inventories for sale or useStart of year $156,168$111,239
X-9 Prepaid expenses and deferred chargesStart of year $10,054$23,166
X-10c Land, buildings and equipment, netStart of year $910,711$802,922
X-11 Publicly traded securitiesStart of year $1,998,440$999,815
X-15 Other assetsStart of year $25,000$25,000
X-16 Total assetsStart of year $5,240,641$5,804,080
X-17 Accounts payable and accrued expensesStart of year $41,665$145,828
X-18 Grants payableStart of year $25,000$0
X-19 Deferred revenueStart of year $60,727$819,477
X-24 Unsecured notes and loans payableStart of year $201,700$0
X-26 Total liabilitiesStart of year $329,092$965,305
X-27 Net assets without donor restrictionsStart of year $4,881,549$4,838,775
X-28 Net assets with donor restrictionsStart of year $30,000$0
X-32 Total net assets or fund balancesStart of year $4,911,549$4,838,775
X-33 Total liabilities and net assetsStart of year $5,240,641$5,804,080
Part XI · Reconciliation of net assets $4,838,775 net assets at year end
XI-1 Total revenue$1,459,722
XI-2 Total expenses$1,513,118
XI-3 Revenue less expenses−$53,396
XI-4 Net assets at start of year$4,911,549
XI-9 Other changes in net assets−$19,376
XI-10 Net assets at end of year$4,838,775

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

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