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Forward Arts Foundation INC FY2022 filing

Tax-deductible

Atlanta, GA501(c)(3)Arts & CultureEIN 58-6048113

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.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
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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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
36 mo
of spending, in cash
Looks good: 36.4 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
$272K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 30 voting members
Looks good: 30 of 30 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
+98% vs prior year
Spent
$1.8M
To programs
91%
Net assets
$6.0M
By yearFY2020–FY2025
Revenue
$2.9M
FY2022▲ +98%
Revenue by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$2.9M
FY2023$2.6M
FY2024$3.1M
FY2025$3.4M
Expenses
$1.8M
FY2022▲ +16%
Expenses by fiscal year
FY2020$2.0M
FY2021$1.5M
FY2022$1.8M
FY2023$2.1M
FY2024$2.5M
FY2025$2.7M
Net assets
$6.0M
FY2022▲ +24%
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CForward Arts Foundation INC
EINHdr · item D58-6048113
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFNov 1965
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CAtlanta, GA
NTEE classificationIRS BMFArts & Culture (A400)
WebsiteHdr · item Jwww.forwardartsatlanta.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.08 Fundraising $0.01
Program services91%$1.6M
Management & general8%$134K
Fundraising1%$19K
Total functional expensesLn 25$1.8M

Finances

Money in and out, what it owns and owes

Spent on programs
91%
of spending reaches programs
Months of spending covered by cash
39.9mo
months of spending covered by cash and easy-to-sell investments
Surplus or deficit
+39%
as % of revenue, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$6.3M
FY2022▲ +8%
Total assets by fiscal year
FY2020$5.2M
FY2021$5.8M
FY2022$6.3M
FY2023$6.8M
FY2024$7.3M
FY2025$8.2M
Total liabilities
$272K
FY2022▼ -72%
Total liabilities by fiscal year
FY2020$329K
FY2021$965K
FY2022$272K
FY2023$299K
FY2024$272K
FY2025$440K
Revenue less expensesPt I · Ln 19$1.1M
Total assetsPt X · Ln 16$6.3M
Spent on programsPt IX · col B91%
Voting members of governing bodyPt I · Ln 330
Independent voting membersPt I · Ln 430

Balance Sheet

Part X · end of year
CashLn 1$5.3M
Total assetsLn 16$6.3M
Total liabilitiesLn 26$272K
Total net assetsLn 32$6.0M
Months of cash on handcomputed36.4

Statement of Revenue

Part VIII
Contributions & grants$1.8M · 63%
Other revenue$1.1M · 37%
Contributions & grants63%$1.8M
Other revenue37%$1.1M
Investment income$404
— government grantsLn 1e$695K
Total revenueLn 12$2.9M

Money in detail

Form 990 · FY2022 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $5.3M · Operating expenses (Pt IX) $1.8M · Less non-cash grants $153K · Cash operating expenses/yr $1.6M
39.9 months
Where the money goes
Program services
Program services $1.6M · Total expenses $1.8M
91%
Management & General
Management & general $134K · Total expenses $1.8M
8%
Fundraising
Fundraising $19K · Total expenses $1.8M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $18K · Solicited contributions (3-yr avg) $808K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.8M · Total revenue $2.9M
63%
Government reliance
Government grants $695K · Total revenue $2.9M
24%
Earned-income share
Program service revenue $0 · Total revenue $2.9M
0%
Investment reliance
Investment income $404 · Total revenue $2.9M
+0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.8M
0%
Growth & trend
Revenue change from last year
This year $2.9M · Prior year $1.5M
+98%
Net assets change over the year
End of year $6.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $2.9M · Expenses $1.8M
+39%
Debts compared to what it owns
Total liabilities — · Total assets $6.3M
—
Net assets compared to what it owns
Net assets $6.0M · Total assets $6.3M
96%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.3M
0.07%
People & payroll
Highest Reported Total Compensation
Individual Jeanne Bowden · Reported title BOARD MEMBER, CHAIR · Highest reported compensation $0 · Total expenses $1.8M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $839K · Total expenses $1.8M
48%
Peer comparison

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

MetricThis orgPeer medianPercentile
Spent on programs 91%——
Spent on management, % of spending 8%——
Fundraising cost, % of gifts 1%——
Revenue growth 98%——
Legal fees, % of spending 0.2%——
Accounting fees, % of spending 2%——

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

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Jeanne Bowden
Board Member, Chair
$0Pt VII · Sec A
Kappy Debutts
Board Member, Secretary
$0Pt VII · Sec A
Karen H'Doubler
Board Member, Treasurer
$0Pt VII · Sec A
Mary Johnson
Board Member, Gallery
$0Pt VII · Sec A
Lorri McClain
Board Member, Gallery
$0Pt VII · Sec A
Betsy Glenn
Board Member, Gift Shop
$0Pt VII · Sec A
Sissy Davis
Board Member, Restaurant
$0Pt VII · Sec A
Betty Edge
Board Member
$0Pt VII · Sec A
See Forward Arts Foundation INC executive salaries →

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Governance & Policies

Part VI
  • 30Voting board membersPt VI · Ln 1a
  • 30Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

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

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $1.6M of program spending, described in the organization's own filed words · FY2021.
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.

$1.6Mprogram 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

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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
Roy and Janet Dorsey Foundation INCFY2025$4K
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
Atlanta Beltline Partnership INCGA · FY2024$30,000
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
The Museum of Contemporary Art of Georgia INCGA · FY2023$20,000
Atlanta Historical Society INCGA · FY2023$15,000
Dashboard Co-Op INCGA · FY2023$10,000
Agnes Scott CollegeGA · FY2023$10,000
Atlanta Contemporary Art Center INCGA · FY2022$25,000
Unitemized GrantFY2022$24,500
High Museum of ArtGA · FY2022$14,300
The University of Georgia FoundationGA · FY2021$25,000
Unitemized GrantFY2021$21,700
Georgia Committee of the National Museum of Women in the Arts INCGA · FY2021$15,000
See all 25 grants →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $3.4M$2.7M+8% 990 PDF
FY2024 $3.1M$2.5M+18% 990 PDF
FY2023 $2.6M$2.1M-9% 990 PDF
FY2022 Viewing $2.9M$1.8M+98% 990 PDF
FY2021 $1.5M$1.5M-11% 990 PDF
FY2020 $1.6M$2.0M 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

Full filing: Form 990 for FY2022

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $2,883,622 across 12 lines filed
Lines not itemized here account for $1,079,818 of total revenue; see the IRS return.
VIII-1b Membership dues$105,000
VIII-1c Fundraising events$777,001
VIII-1e Government grants$694,881
VIII-1f All other contributions, gifts and grants$250,036
VIII-1g Noncash contributions (included above)$153,284
VIII-1h Total contributions, gifts and grants$1,826,918
VIII-3 Investment incomeExcluded from tax $3,301$3,301
VIII-6 Net rental income or lossUnrelated business $189,314$189,314
VIII-7 Net gain or loss on sales of assetsUnrelated business −$2,897−$2,897
VIII-8 Net income from fundraising eventsExcluded from tax −$218,546−$218,546
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,174 · Unrelated business $4,540$5,714
VIII-12 Total revenueRelated to mission $49,432 · Unrelated business $1,222,517 · Excluded from tax −$215,245$2,883,622
Part IX · Statement of functional expenses $1,752,089 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $53,500$53,500
IX-2 Grants to domestic individualsPrograms $21,700$21,700
IX-7 Other salaries and wagesPrograms $697,781 · Management $53,750 · Fundraising $16,960$768,491
IX-9 Other employee benefitsPrograms $5,410 · Management $417 · Fundraising $131$5,958
IX-10 Payroll taxesPrograms $59,022 · Management $4,546 · Fundraising $1,435$65,003
IX-11b Legal feesPrograms $2,888 · Management $927$3,815
IX-11c Accounting feesPrograms $21,150 · Management $6,786$27,936
IX-11g Other fees for servicesPrograms $32,598 · Management $10,459$43,057
IX-12 Advertising and promotionPrograms $12,139$12,139
IX-13 Office expensesPrograms $105,083 · Management $3,420$108,503
IX-14 Information technologyPrograms $36,712 · Management $1,195$37,907
IX-16 OccupancyPrograms $50,420 · Management $314$50,734
IX-17 TravelManagement $15,066$15,066
IX-22 Depreciation, depletion and amortizationPrograms $134,025 · Management $28,679$162,704
IX-23 InsurancePrograms $47,719 · Management $3,227$50,946
IX-24 Other expenses (24a–d)Programs $319,267 · Management $5,363$324,630
IX-25 Total functional expensesPrograms $1,599,414 · Management $134,149 · Fundraising $18,526$1,752,089
Part X · Balance sheet $6,263,507 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,819,158$5,318,118
X-4 Accounts receivableStart of year $22,780$31,917
X-8 Inventories for sale or useStart of year $111,239$104,980
X-9 Prepaid expenses and deferred chargesStart of year $23,166$35,426
X-10c Land, buildings and equipment, netStart of year $802,922$743,952
X-11 Publicly traded securitiesStart of year $999,815$4,114
X-15 Other assetsStart of year $25,000$25,000
X-16 Total assetsStart of year $5,804,080$6,263,507
X-17 Accounts payable and accrued expensesStart of year $145,828$124,555
X-19 Deferred revenueStart of year $819,477$147,648
X-26 Total liabilitiesStart of year $965,305$272,203
X-27 Net assets without donor restrictionsStart of year $4,838,775$5,896,104
X-28 Net assets with donor restrictionsStart of year $0$95,200
X-32 Total net assets or fund balancesStart of year $4,838,775$5,991,304
X-33 Total liabilities and net assetsStart of year $5,804,080$6,263,507
Part XI · Reconciliation of net assets $5,991,304 net assets at year end
XI-1 Total revenue$2,883,622
XI-2 Total expenses$1,752,089
XI-3 Revenue less expenses$1,131,533
XI-4 Net assets at start of year$4,838,775
XI-9 Other changes in net assets$20,996
XI-10 Net assets at end of year$5,991,304

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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