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For-M Foundation INC FY2020 filing

Tax-deductible

West Bend, WI501(c)(3)Community DevelopmentEIN 84-4165560Revenue $1.0M in FY2020

On file with the IRSmketech.orgPo Box 34, 53095-0034 · West Bend, WITax-exempt since Jun 2020Publicly supported charity — 170(b)(1)(A)(vi)

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Develop diverse sources of tech talent and startups from k-12, university, and non-traditional career pathways

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $11K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $411K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$48K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
Spent
$231K
To programs
86%
Net assets
$818K
By yearFY2020–FY2024
Revenue
$1.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$96K
FY2022$587K
FY2023$737K
FY2024$734K
Expenses
$231K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$231K
FY2021$411K
FY2022$951K
FY2023$871K
FY2024$683K
Net assets
$818K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$818K
FY2021$503K
FY2022$139K
FY2023$5K
FY2024$57K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2020.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $199K Management & general 14% · $32K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Karl Gouveneur
Chairperson
$0Pt VII · Sec A
Michael Rodgers
Secretary/Treasurer
$0Pt VII · Sec A
Scott Vifquain
Vice Chairperson
$0Pt VII · Sec A
Molly Mulroy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dipa Meta
Director
$0Pt VII · Sec A
Rasi Khosla
Director
$0Pt VII · Sec A
Jason Fields
Director
$0Pt VII · Sec A
See For-M Foundation 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

Cultivates diverse tech talent and startups from schools and varied career paths.

Questions for For-M Foundation INC

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Provided by the organization

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2 programs · $199K · in their own filed words · FY2020
01

Mke Tech Talent Accelerator

The mke tech talent accelerator provides a holistic suite of programs that aims to build milwaukee's early tech talent pipeline. From programs that introduce students to tech to an educator in-service and a career expo - the goal of the mke tech talent accelerator is to help students with diverse backgrounds understand their potential…

$156Kprogram expense
02

Mke Tech Apprenticeships Program

The for-m foundation has fostered relationships with major employers across the region as well as top level technology training organizations to train and place technology talent traditionally from underrepresented demographics.

$44Kprogram 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
For-M INCFY2024$275K
The Water Council INCFY2024$126K
West Bend Community Foundation INCFY2024$10K
Total grants receivedfrom 3 funders$411K
See all 3 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$1.0M
Money outPt IX
$231K
Ln 25
Programscol B$199K
Managementcol C$32K
Owns and owesPt X
$818K
net assets · Ln 32
Cash and savingsLn 1–2$153K
Total assetsLn 16$866K
LiabilitiesLn 26$48K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$153K
Cash and savings togetherLn 1–2$153K
Total assetsLn 16$866K
LiabilitiesLn 26$48K
Net assetsLn 32$818K
OperationsPt I, VI
EmployeesI 50
VolunteersI 640
Fiscal year endsHeaderDecember
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 FY20End FY20
Cash and savingsLn 1–2$0$153K
Total assetsLn 16$0$866K
LiabilitiesLn 26$0$48K
Net assetsLn 32$0$818K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$108K$108K
Pension plan contributionsLn 8$9K$9K
Payroll taxesLn 10$6K$6K
Other fees for servicesLn 11g$75K$44K$32K
Other expenses (24a–d)Ln 24$32K$32K
Total functional expensesLn 25$231K$199K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $734K$683K$51K$57K 990 PDF
FY2023 $737K$871K−$134K$5K 990 PDF
FY2022 $587K$951K−$364K$139K 990 PDF
FY2021 $96K$411K−$315K$503K 990 PDF
FY2020 Viewing $1.0M$231K$818K$818K 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 $1,048,500 revenue, 12 lines filed
I-8 Contributions and grants$1,048,500
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$1,048,500
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$123,733
I-16a Professional fundraising fees$0
I-17 Other expenses$106,827
I-18 Total expenses$230,560
I-19 Revenue less expenses$817,940
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,048,500 across 4 lines filed
VIII-1b Membership dues$1,500
VIII-1f All other contributions, gifts and grants$1,047,000
VIII-1h Total contributions, gifts and grants$1,048,500
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,048,500
Part IX · Statement of functional expenses $230,560 across 5 lines filed
IX-7 Other salaries and wagesPrograms $108,375$108,375
IX-8 Pension plan contributionsPrograms $8,883$8,883
IX-10 Payroll taxesPrograms $6,475$6,475
IX-11g Other fees for servicesPrograms $43,500 · Management $31,500$75,000
IX-24 Other expenses (24a–d)Programs $31,827$31,827
IX-25 Total functional expensesPrograms $199,060 · Management $31,500 · Fundraising $0$230,560
Part X · Balance sheet $866,018 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $0$152,518
X-3 Pledges and grants receivable$583,500
X-4 Accounts receivableStart of year $0$130,000
X-16 Total assetsStart of year $0$866,018
X-25 Other liabilitiesStart of year $0$48,078
X-26 Total liabilitiesStart of year $0$48,078
X-27 Net assets without donor restrictionsStart of year $0$109,440
X-28 Net assets with donor restrictionsStart of year $0$708,500
X-32 Total net assets or fund balancesStart of year $0$817,940
X-33 Total liabilities and net assetsStart of year $0$866,018
Part XI · Reconciliation of net assets $817,940 net assets at year end
XI-1 Total revenue$1,048,500
XI-2 Total expenses$230,560
XI-3 Revenue less expenses$817,940
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$817,940

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

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