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The Build Forward Foundation FY2020 filing

Tax-deductible

Richmond, VA501(c)(3)Since 2017EducationEIN 82-2947851Revenue $102K in FY2020

On file with the IRSrvabuild.com3301 Rosedale Ave Ste D, 23230-4233 · Richmond, VATax-exempt since Oct 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To promote hands-on STEM access for the greater metro Richmond area, with a focus on innovation & ideation, modern manufacturing, additive manufacturing, and more.

501(c)(3) charity; gifts are tax-deductible.
$38K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2020 · 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
2 of 5
filings with a surplus
Average deficit $4K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$38K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$150K
73% of total assets
Worth a look: liabilities are 73% of assets; over 65%.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$102K
Spent
$109K
To programs
0%
Net assets
$56K
By yearFY2020–FY2025
Revenue
$102K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$102K
FY2021$88K
FY2022$97K
FY2023$148K
FY2024$190K
FY2024$181K
FY2025$225K
Expenses
$109K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$109K
FY2021$99K
FY2022$91K
FY2023$175K
FY2024Not on file
FY2024$20K
FY2025$207K
Net assets
$56K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$56K
FY2021$45K
FY2022$51K
FY2023$24K
FY2024$10K
FY2024$170K
FY2025$188K

From the FY2020 Form 990 (year ending November 2020) · see the original

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You’re viewing the FY2020 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 Oct 2018.

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

Who runs it and what they're paid

9 people listed on the 990; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Seth Estep
Chairman
$37,800Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Bruce Davies
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Samuel Rugg
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Seth Estep’s $38K as Chairman is at the 29th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See The Build Forward Foundation 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Promotes hands-on STEM access and innovation through modern manufacturing in Richmond.

Questions for The Build Forward Foundation

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Provided by the organization

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1 program · $98K · in their own filed words · FY2019
01

The main program of this foundation is to provide STEM access to the greater Richmond area through training and education, and by providing the tools, equipment, and space to accomplish this. Approximately 95% of expenditures and income are related to this program.

$98Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$102K
Ln 12
Gifts and grantsLn 1h$102K
Money outPt IX
$109K
Ln 25
Owns and owesPt X
$56K
net assets · Ln 32
Cash and savingsLn 1–2$19K
Total assetsLn 16$206K
LiabilitiesLn 26$150K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$102K
Government grantsLn 1e$1K
Total revenueLn 12$102K
Assets in detailPt X, end of year
CashLn 1$19K
Cash and savings togetherLn 1–2$19K
Land, buildings, equipmentLn 10c$62K
Total assetsLn 16$206K
LiabilitiesLn 26$150K
Net assetsLn 32$56K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$21K$19K
Land, buildings, equipmentLn 10c$49K$62K
Total assetsLn 16$195K$206K
LiabilitiesLn 26$150K$150K
Net assetsLn 32$45K$56K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$41K
Advertising and promotionLn 12$268
Office expensesLn 13$956
Information technologyLn 14$3K
OccupancyLn 16$47K
Depreciation, depletion and amortizationLn 22$5K
Other expenses (24a–d)Ln 24$11K
All other expensesLn 24e$338
Total functional expensesLn 25$109K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $225K$207K$18K$188K 990 PDF
FY2024 $190K$10K 990 PDF
FY2023 $148K$175K−$27K$24K 990 PDF
FY2022 $97K$91K$6K$51K 990 PDF
FY2021 $88K$99K−$11K$45K 990 PDF
FY2020 Viewing $102K$109K−$7K$56K 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 $101,837 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $93,086$101,837
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $93,086$101,837
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $29,720$108,750
I-18 Total expensesPrior year $29,720$108,750
I-19 Revenue less expensesPrior year $63,366−$6,913
Part VI · Governance 8 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $101,837 across 6 lines filed
VIII-1b Membership dues$83,994
VIII-1e Government grants$1,000
VIII-1f All other contributions, gifts and grants$16,843
VIII-1h Total contributions, gifts and grants$101,837
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$101,837
Part IX · Statement of functional expenses $108,750 across 8 lines filed
IX-11a Management fees$40,700
IX-12 Advertising and promotion$268
IX-13 Office expenses$956
IX-14 Information technology$3,035
IX-16 Occupancy$47,066
IX-22 Depreciation, depletion and amortization$5,407
IX-24 Other expenses (24a–d)$10,980
IX-24e All other expenses$338
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$108,750
Part X · Balance sheet $206,453 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $20,966$19,460
X-8 Inventories for sale or useStart of year $5,096$6,014
X-10c Land, buildings and equipment, netStart of year $48,654$61,646
X-14 Intangible assets$119,333
X-16 Total assetsStart of year $194,716$206,453
X-25 Other liabilitiesStart of year $150,000$150,000
X-26 Total liabilitiesStart of year $150,000$150,000
X-27 Net assets without donor restrictionsStart of year $44,716$56,453
X-32 Total net assets or fund balancesStart of year $44,716$56,453
X-33 Total liabilities and net assetsStart of year $194,716$206,453
Part XI · Reconciliation of net assets $56,453 net assets at year end
XI-1 Total revenue$101,837
XI-2 Total expenses$108,750
XI-3 Revenue less expenses−$6,913
XI-4 Net assets at start of year$44,716
XI-10 Net assets at end of year$56,453

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

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