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The Build Forward Foundation FY2022 filing

Tax-deductible

Richmond, VA501(c)(3)Since 2017Education EIN 82-2947851Revenue $97K in FY2022

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · 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
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$150K
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
0
of 8 voting members
Concern: none of 8 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$97K
+10% vs prior year
Spent
$91K
To programs
0%
Net assets
$51K
By yearFY2020–FY2025
Revenue
$97K
FY2022▲ +10%
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
$91K
FY2022▼ -8%
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
$51K
FY2022▲ +12%
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 FY2022 Form 990 (year ending November 2022) · see the original

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You’re viewing the FY2022 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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Seth Estep
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Bruce Davies
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Samuel Rugg
Director
$0Pt VII · Sec A
$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

Programs and updates

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

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Provided by the organization

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1 program · $74K · in their own filed words · FY2021
01

Community STEM Access

$74Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$97K
Ln 12
Gifts and grantsLn 1h$97K
Money outPt IX
$91K
Ln 25
Owns and owesPt X
$51K
net assets · Ln 32
Cash and savingsLn 1–2$49K
Total assetsLn 16$201K
LiabilitiesLn 26$150K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$97K
Total revenueLn 12$97K
Assets in detailPt X, end of year
CashLn 1$48K
SavingsLn 2$125
Cash and savings togetherLn 1–2$49K
Land, buildings, equipmentLn 10c$43K
Total assetsLn 16$201K
LiabilitiesLn 26$150K
Net assetsLn 32$51K
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 FY22End FY22
Cash and savingsLn 1–2$25K$49K
Land, buildings, equipmentLn 10c$53K$43K
Total assetsLn 16$195K$201K
LiabilitiesLn 26$150K$150K
Net assetsLn 32$45K$51K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$378
Office expensesLn 13$152
Information technologyLn 14$2K
OccupancyLn 16$58K
Depreciation, depletion and amortizationLn 22$20K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$7K
Total functional expensesLn 25$91K$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 Viewing $97K$91K$6K$51K 990 PDF
FY2021 $88K$99K−$11K$45K 990 PDF
FY2020 $102K$109K−$7K$56K 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 O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $96,785 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,040$96,785
I-9 Program service revenue$0
I-10 Investment incomePrior year $11$0
I-11 Other revenue$0
I-12 Total revenuePrior year $88,051$96,785
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $14,000$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $85,142$91,128
I-18 Total expensesPrior year $99,142$91,128
I-19 Revenue less expensesPrior year −$11,091$5,657
Part VI · Governance 0 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members0
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 $96,785 across 5 lines filed
VIII-1b Membership dues$91,259
VIII-1f All other contributions, gifts and grants$5,526
VIII-1h Total contributions, gifts and grants$96,785
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$96,785
Part IX · Statement of functional expenses $91,128 across 7 lines filed
IX-11b Legal fees$378
IX-13 Office expenses$152
IX-14 Information technology$2,375
IX-16 Occupancy$58,270
IX-22 Depreciation, depletion and amortization$19,808
IX-23 Insurance$3,140
IX-24 Other expenses (24a–d)$7,005
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$91,128
Part X · Balance sheet $201,019 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $25,233$48,481
X-2 Savings and temporary cash investmentsStart of year $125$125
X-8 Inventories for sale or useStart of year $5,813$5,813
X-10c Land, buildings and equipment, netStart of year $52,858$43,267
X-14 Intangible assetsStart of year $111,333$103,333
X-16 Total assetsStart of year $195,362$201,019
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 $45,362$51,019
X-32 Total net assets or fund balancesStart of year $45,362$51,019
X-33 Total liabilities and net assetsStart of year $195,362$201,019
Part XI · Reconciliation of net assets $51,019 net assets at year end
XI-1 Total revenue$96,785
XI-2 Total expenses$91,128
XI-3 Revenue less expenses$5,657
XI-4 Net assets at start of year$45,362
XI-10 Net assets at end of year$51,019

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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