Forbes Avenue Foundation

Tax-deductible

Pittsburgh, PA501(c)(3)Arts & CultureEIN 82-4121313Revenue $494K in FY2025

On file with the IRSbeatriceinstitute.org339 6th Ave Ste 1400, 15222-2507 · Pittsburgh, PATax-exempt since Apr 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To provide programs that encourage the university students to experience the christian intellectual experience.

501(c)(3) charity; gifts are tax-deductible.
58¢ of each $1 spent went to programs.
Run by 24 volunteers and 12 employees.
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
3 of 5
filings with a surplus
Average surplus $26K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
58%
of spending
Worth a look: 58% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$130K
to officers and key staff · 36% of spending
Top officer’s pay higher than 85% of similar orgs
Concern: pay to officers and key staff is 36% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $225K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$494K
+15% vs prior year
Spent
$364K
To programs
58%
Net assets
$145K
By yearFY2020–FY2025
Revenue
$494K
FY2025▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$101K
FY2021$254K
FY2023$332K
FY2024$431K
FY2025$494K
Expenses
$364K
FY2025▼ -25%
Tap a bar for its year
Expenses by fiscal year
FY2020$150K
FY2021$169K
FY2023$311K
FY2024$486K
FY2025$364K
Net assets
$145K
FY2025▲ +882%
Tap a bar for its year
Net assets by fiscal year
FY2020$5K
FY2021$90K
FY2023$70K
FY2024$15K
FY2025$145K

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

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

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

Where the money goes

58 cents of each dollar spent went to programs.

Program services 58% · $210K Management & general 22% · $79K Fundraising 20% · $74K

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

6 people listed on the 990; $130K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Di
$93,250Pt VII · Sec A
Founder, SR
$36,668Pt VII · Sec A
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

James Demasi’s $93K as Executive Di is at the 85th percentile of top reported officer pay among 2216 $100K–1M arts & culture 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.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2021FY2020
James Demasi$93,250$84,647$82,147$32,362—
John Buchmann————$64,167
Ryan McDermott$36,668$31,250$29,500$37,563$20,938
Megan Pepin———$8,625—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 II2 listed

Programs and updates

Encourages university students to explore Christian intellectual thought through engaging programs.

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Provided by the organization

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1 program · $210K · in their own filed words · FY2024
01

Christian Studies Fellowship

Provide advising, extracurricular events, lectures and seminars to undergraduate and graduate fellows.

$210Kprogram 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 · FY2025
Total grants receivedfrom 2 funders$225K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$494K
Ln 12
Gifts and grantsLn 1h$481K
Other incomeLn 4–11$13K
Money outPt IX
$364K
Ln 25
Programscol B$210K
Managementcol C$79K
Fundraisingcol D$74K
Owns and owesPt X
$145K
net assets · Ln 32
Cash and savingsLn 1–2$148K
Total assetsLn 16$149K
LiabilitiesLn 26$3K
PeoplePt VI, VII
6
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$481K
Government grantsLn 1e$14K
Other incomeLn 4–11$13K
Total revenueLn 12$494K
Assets in detailPt X, end of year
CashLn 1$148K
Cash and savings togetherLn 1–2$148K
Total assetsLn 16$149K
LiabilitiesLn 26$3K
Net assetsLn 32$145K
OperationsPt I, VI
EmployeesI 512
VolunteersI 624
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
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$17K$148K
Total assetsLn 16$17K$149K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$15K$145K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$130K$73K$9K$48K
Other salaries and wagesLn 7$118K$55K$45K$19K
Payroll taxesLn 10$22K$10K$5K$8K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$9K$9K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$9K$2K$7K
TravelLn 17$7K$7K
Conferences, conventions and meetingsLn 19$1K$1K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$48K$44K$4K
Total functional expensesLn 25$364K$210K$79K$74K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $494K$364K$131K$145K 990 PDF
FY2024 $431K$486K−$55K$15K 990 PDF
FY2023 $332K$311K$21K$70K 990 PDF
FY2022 Not on file
FY2021 $254K$169K$85K$90K 990 PDF
FY2020 $101K$150K−$50K$5K 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 $494,105 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $428,937$480,731
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $2,315$13,374
I-12 Total revenuePrior year $431,252$494,105
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $278,697$269,937
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $207,721$93,618
I-18 Total expensesPrior year $486,418$363,555
I-19 Revenue less expensesPrior year −$55,166$130,550
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $494,105 across 5 lines filed
VIII-1e Government grants$13,813
VIII-1f All other contributions, gifts and grants$466,918
VIII-1h Total contributions, gifts and grants$480,731
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,374$13,374
VIII-12 Total revenueRelated to mission $13,374$494,105
Part IX · Statement of functional expenses $363,555 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $72,609 · Management $9,325 · Fundraising $47,984$129,918
IX-7 Other salaries and wagesPrograms $54,767 · Management $44,662 · Fundraising $18,858$118,287
IX-10 Payroll taxesPrograms $9,573 · Management $4,605 · Fundraising $7,554$21,732
IX-11c Accounting feesManagement $9,566$9,566
IX-11g Other fees for servicesPrograms $9,231$9,231
IX-12 Advertising and promotionPrograms $4,959$4,959
IX-13 Office expensesPrograms $2,155 · Management $7,220$9,375
IX-17 TravelPrograms $6,524$6,524
IX-19 Conferences, conventions and meetingsPrograms $1,368$1,368
IX-23 InsurancePrograms $4,931$4,931
IX-24 Other expenses (24a–d)Programs $43,693 · Management $3,971$47,664
IX-25 Total functional expensesPrograms $209,810 · Management $79,349 · Fundraising $74,396$363,555
Part X · Balance sheet $148,579 assets, 7 lines filed
Asset lines not itemized here account for $140; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $17,193$148,439
X-16 Total assetsStart of year $17,333$148,579
X-17 Accounts payable and accrued expensesStart of year $2,526$3,222
X-26 Total liabilitiesStart of year $2,526$3,222
X-27 Net assets without donor restrictionsStart of year $14,807$145,357
X-32 Total net assets or fund balancesStart of year $14,807$145,357
X-33 Total liabilities and net assetsStart of year $17,333$148,579
Part XI · Reconciliation of net assets $145,357 net assets at year end
XI-1 Total revenue$494,105
XI-2 Total expenses$363,555
XI-3 Revenue less expenses$130,550
XI-4 Net assets at start of year$14,807
XI-10 Net assets at end of year$145,357

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

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