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Forest Springs INC

Tax-deductible

Great Barrington, MA501(c)(3)Since 2017HousingEIN 82-1035827Revenue $127K in FY2025

On file with the IRS316a State Rd, 01230-0000 · Great Barrington, MATax-exempt since Jul 2019Publicly supported — 509(a)(2)

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To change and save lives through housing options and related services. The organization provides rental housing units for persons of very low to 60% of median income to meet the critical need for housing in our community and in an effort to meet the state's affordable housing goals.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 18 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
0 of 6
filings with a surplus
Average deficit $55K a year · 44% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.5M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$127K
+0.3% vs prior year
Spent
$192K
To programs
92%
Net assets
$532K
By yearFY2020–FY2025
Revenue
$127K
FY2025+0.3%
Tap a bar for its year
Revenue by fiscal year
FY2020$124K
FY2021$121K
FY2022$135K
FY2023$119K
FY2024$127K
FY2025$127K
Expenses
$192K
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$159K
FY2021$166K
FY2022$183K
FY2023$197K
FY2024$187K
FY2025$192K
Net assets
$532K
FY2025▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$828K
FY2021$783K
FY2022$735K
FY2023$657K
FY2024$597K
FY2025$532K

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $177K Management & general 8% · $15K

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

19 people listed on the 990.

Part VII, Section A · reportable compensation
Betty Farbman
President
$0Pt VII · Sec A
Peter Dunphy
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Beede
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jane Glaser
Director
$0Pt VII · Sec A
See Forest Springs 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 in Great Barrington, Massachusetts.

Questions for Forest Springs INC

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Provided by the organization

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1 program · $177K · in their own filed words · FY2025
01

The organization provides affordable housing to low-income families. The housing complex includes 11 rental housing units; 4 low-income units, 5 very low-income units, and 2 extremely low-income units.

$177Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Fiat FoundationFY2024$5K
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$127K
Ln 12
Fees for servicesLn 2g$127K
Investment incomeLn 3$8
Money outPt IX
$192K
Ln 25
Programscol B$177K
Managementcol C$15K
Owns and owesPt X
$532K
net assets · Ln 32
Cash and savingsLn 1–2$173K
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$127K
Investment incomeLn 3$8
Total revenueLn 12$127K
Assets in detailPt X, end of year
CashLn 1$48K
SavingsLn 2$124K
Cash and savings togetherLn 1–2$173K
Land, buildings, equipmentLn 10c$2.9M
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.5M
Net assetsLn 32$532K
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$158K$173K
Land, buildings, equipmentLn 10c$3.0M$2.9M
Total assetsLn 16$3.1M$3.1M
LiabilitiesLn 26$2.5M$2.5M
Net assetsLn 32$597K$532K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$37K$29K$9K
InterestLn 20$11K$11K
Depreciation, depletion and amortizationLn 22$91K$91K
InsuranceLn 23$17K$17K
Other expenses (24a–d)Ln 24$25K$25K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$192K$177K$15K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $127K$192K−$65K$532K 990 PDF
FY2024 $127K$187K−$60K$597K 990 PDF
FY2023 $119K$197K−$78K$657K 990 PDF
FY2022 $135K$183K−$48K$735K 990 PDF
FY2021 $121K$166K−$45K$783K 990 PDF
FY2020 $124K$159K−$34K$828K 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 FY2025 990 (6 parts)
Part I · Summary $126,970 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $126,539$126,962
I-10 Investment incomePrior year $8$8
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $126,547$126,970
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 $186,542$191,900
I-18 Total expensesPrior year $186,542$191,900
I-19 Revenue less expensesPrior year −$59,995−$64,930
Part VI · Governance 18 of 18 board members independent, 4 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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 $126,970 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $126,962$126,962
VIII-3 Investment incomeExcluded from tax $8$8
VIII-12 Total revenueRelated to mission $126,962 · Unrelated business $0 · Excluded from tax $8$126,970
Part IX · Statement of functional expenses $191,900 across 8 lines filed
IX-11b Legal feesPrograms $2,240$2,240
IX-11c Accounting feesManagement $6,500$6,500
IX-11g Other fees for servicesPrograms $28,749 · Management $8,607$37,356
IX-20 InterestPrograms $11,477$11,477
IX-22 Depreciation, depletion and amortizationPrograms $91,384$91,384
IX-23 InsurancePrograms $17,115$17,115
IX-24 Other expenses (24a–d)Programs $24,783$24,783
IX-24e All other expensesPrograms $1,045$1,045
IX-25 Total functional expensesPrograms $176,793 · Management $15,107 · Fundraising $0$191,900
Part X · Balance sheet $3,058,728 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $31,990$48,274
X-2 Savings and temporary cash investmentsStart of year $126,066$124,368
X-4 Accounts receivableStart of year $7,074$2,385
X-10c Land, buildings and equipment, netStart of year $2,975,085$2,883,701
X-16 Total assetsStart of year $3,140,215$3,058,728
X-17 Accounts payable and accrued expensesStart of year $47,273$48,097
X-25 Other liabilitiesStart of year $12,036$10,331
X-26 Total liabilitiesStart of year $2,543,189$2,526,632
X-27 Net assets without donor restrictionsStart of year $592,026$527,096
X-28 Net assets with donor restrictionsStart of year $5,000$5,000
X-32 Total net assets or fund balancesStart of year $597,026$532,096
X-33 Total liabilities and net assetsStart of year $3,140,215$3,058,728
Part XI · Reconciliation of net assets $532,096 net assets at year end
XI-1 Total revenue$126,970
XI-2 Total expenses$191,900
XI-3 Revenue less expenses−$64,930
XI-4 Net assets at start of year$597,026
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$532,096

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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