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Nonprofiteer
← THE FORBES FUNDS

Form 990 for tax year 2024

Filed by THE FORBES FUNDS.

Totals

Total revenue
$1,683,390
Total expenses
$2,320,380
Contributions and grants received
$519,055
Grants paid
$170,000
Program service revenue
$409,680
Investment income
$754,655
Other revenue
$0
Total assets, end of year
$9,820,901
Total liabilities, end of year
$395,503
Net assets or fund balances, end of year
$9,425,398
Program services expenses (Part IX)
$1,663,580
Management and general expenses
$536,704
Fundraising expenses
$120,096
Program service expenses (Part III)
$1,663,580

Program services were 71.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $16,529

  • 1d · Related organizations

    $502,526

  • 2a · Program service revenue: STOP THE VIOLENCE PROGRAM

    total $168,352 · related or exempt $168,352

  • 2b · Program service revenue: AI COHORTS

    total $118,766 · related or exempt $118,766

  • 2c · Program service revenue: BLACK EQUITY COHORT

    total $72,000 · related or exempt $72,000

  • 2d · Program service revenue: PEOPLE NEED PEOPLE

    total $13,000 · related or exempt $13,000

  • 2f · All other program service revenue

    total $37,562 · related or exempt $37,562

  • 3 · Investment income

    total $232,254 · excluded $232,254

  • 7a · Gross sales of assets other than inventory

    securities $1,505,489

  • 7b · Less cost or other basis and sales expenses

    securities $983,088

  • 7c · Gain or loss

    securities $522,401

  • 7d · Net gain or loss

    total $522,401 · excluded $522,401

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $170,000 · program services $170,000

  • 5 · Compensation of officers, directors and key employees

    total $298,365 · program services $180,849 · management and general $58,758 · fundraising $58,758

  • 7 · Other salaries and wages

    total $530,249 · program services $424,587 · management and general $83,242 · fundraising $22,420

  • 8 · Pension plan contributions

    total $42,831 · program services $34,845 · management and general $6,606 · fundraising $1,380

  • 9 · Other employee benefits

    total $126,943 · program services $99,716 · management and general $20,342 · fundraising $6,885

  • 10 · Payroll taxes

    total $53,254 · program services $39,408 · management and general $9,053 · fundraising $4,793

  • 11b · Fees: legal

    total $11,960 · management and general $11,960

  • 11c · Fees: accounting

    total $21,161 · management and general $21,161

  • 11e · Fees: professional fundraising services

    total $2,070 · fundraising $2,070

  • 11f · Fees: investment management

    total $40,439 · management and general $40,439

  • 11g · Fees: other

    total $606,643 · program services $515,013 · management and general $91,630

  • 12 · Advertising and promotion

    total $3,380 · program services $2,501 · management and general $575 · fundraising $304

  • 13 · Office expenses

    total $7,977 · program services $5,903 · management and general $1,356 · fundraising $718

  • 14 · Information technology

    total $111,865 · program services $95,614 · management and general $4,622 · fundraising $11,629

  • 16 · Occupancy

    total $10,387 · program services $7,686 · management and general $1,766 · fundraising $935

  • 17 · Travel

    total $13,381 · program services $9,902 · management and general $2,275 · fundraising $1,204

  • 19 · Conferences, conventions and meetings

    total $29,246 · program services $21,642 · management and general $4,972 · fundraising $2,632

  • 23 · Insurance

    total $12,603 · program services $3,554 · management and general $9,049

  • 24a · Other expenses: SHARED SERVICES EXPENSE

    total $86,580 · program services $0 · management and general $86,580 · fundraising $0

  • 24b · Other expenses: DUES/SUBSCRIPTIONS

    total $53,783 · program services $39,800 · management and general $9,143 · fundraising $4,840

  • 24c · Other expenses: PROFESSIONAL DEVELOPMNT

    total $15,934 · program services $11,791 · management and general $2,709 · fundraising $1,434

  • 24e · All other expenses

    total $71,329 · program services $769 · management and general $70,466 · fundraising $94

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,262,402 · end of year $1,532,215

  • 4 · Accounts receivable

    beginning of year $673,201 · end of year $259,303

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $7,500

  • 11 · Investments: publicly traded securities

    beginning of year $7,338,751 · end of year $7,947,698

  • 15 · Other assets

    beginning of year $53,446 · end of year $74,185

  • 17 · Accounts payable and accrued expenses

    beginning of year $271,072 · end of year $119,903

  • 18 · Grants payable

    beginning of year $301,200 · end of year $275,600

  • 27 · Net assets without donor restrictions

    beginning of year $1,460,655 · end of year $1,274,962

  • 28 · Net assets with donor restrictions

    beginning of year $8,294,873 · end of year $8,150,436

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO FOCUS ON STRENGTHENING THE MANAGEMENT CAPACITY AND IMPACT OF COMMUNITY NONPROFITS INDIVIDUALLY AND COLLECTIVELY.

  • CAPACITY BUILDING: PROVIDING NONPROFITS WITH RESOURCES, THROUGH GRANTMAKING AND COHORTS, AND LEARNING FORUMS TO ENABLE THEM TO MANAGE A DISRUPTIVE EVENT, REFRAME THEIR THINKING ABOUT A SPECIFIC ISSUE THAT IMPACTS OPERATIONS, AND PREPARE FOR THE FUTURE. PRIORITY IS GIVEN TO HUMAN SERVICES AND COMMUNITY DEVELOPMENT ORGANIZATIONS IN ALLEGHENY COUNTY.

    Expenses $883,017 · Grants $170,000 · Revenue $291,160

  • GPNP: LEVERAGING THE COLLECTIVE STRENGTH OF THE SECTOR TO INFORM POLICY, GIVE INPUT TO COMMUNITY PRIORITIES AND STRATEGIES, AND INCREASE THEIR PURCHASING POWER. BIENNIALLY, GPNP ORGANIZES AI COHORTS WHICH BRINGS TOGETHER LOCAL NONPROFIT STAFF AND BOARD MEMBERS PLUS OTHER INTERESTED PARTIES TO DISCUSS OVER AN AFTERNOON, VARIOUS TOPICS OF INTEREST FOR NONPROFITS THAT FOSTERS CAPACITY BUILDING AND SOCIAL INNOVATION.

    Expenses $333,098 · Revenue $118,520

  • THE FUND SITS AT THE INTERSECTION BETWEEN PHILANTHROPY AND THE NONPROFIT COMMUNITY. BUILDING UPON OUR 40 PLUS YEAR HISTORY OF SUPPORTING OUR REGION, THE FUND HAS SHIFTED TOWARDS A SYSTEMIC, ECOSYSTEMS DEVELOPMENT APPROACH TO DRIVE TRANSFORMATIVE CHANGE. THE MISSION OF THE FUND FOCUSES ON IMPROVING AND EMPOWERINGTHE MANAGEMENT CAPACITY AND IMPACT OF HUMAN SERVICES AND COMMUNITY-BASED NONPROFITS BOTH AS INDIVIDUAL ORGANIZATIONS AND AS A UNIFIED COALITION OF LEADERS, FUNDERS AND ADVOCATES WORKING COLLABORATIVELY THROUGHOUT SOUTHWESTERN PENNSYLVANIA. CONTINUES ON SCHEDULE O OVER THE PAST SIX YEARS THE FUND HAS ALIGNED ITS TRADITIONAL PROGRAMMING TO INCREASE ENGAGEMENT WITH THE FUND'S REGIONAL PARTNERS AND TO IDENTIFY WHERE GAPS AND OVERLAPS OF SERVICES AND INVESTMENTS EXIST. TODAY, THE FUND HAS CONVENED THOUGHT LEADERS WITHIN THE NONPROFIT SECTOR THROUGH THE GREATER PITTSBURGH NONPROFIT PARTNERSHIP ("GPNP"), LEARNING AND EDUCATION , EXECUTIVE-IN-RESIDENCE ("EIR"), MANAGEMENT ASSISTANCE GRANTS ("MAGS"), CATALYTIC COMMUNITY COHORTS ("C3"), THE COMMONS, AND LARGE AND SMALL AGENCY COHORTS, THE FUND WORKS WITH NONPROFIT ORGANIZATIONS IN ALLEGHENY COUNTY AND SOUTHWESTERN PENNSYLVANIA AND IS BUILDING A GROWING NETWORK OF PARTNERSHIPS ACROSS THE COMMONWEALTH OF PENNSYLVANIA, THE NATION, AND THE GLOBE. IN 2020, THE FUND'S BOARD OF DIRECTORS (THE "BOARD") APPROVED A RACIAL JUSTICE EQUITY FRAMEWORK.. THIS FRAMEWORK INCLUDES INVESTING IN DIVERSE LEADERSHIP, INCREASING THE CAPACITY OF MINORITY-LED ORGANIZATIONS, DEVELOPING SCENARIO PLANNING AND INCREASING COLLABORATIVE CAPACITY OF REGIONAL ORGANIZATIONS. THIS HAS LED TO THE DEVELOPMENT OF AN INTERNATIONAL ANTI-RACISM INSTITUTIONAL COHORT ("ARC") AND THE TRANSFORMATIVE LEADERSHIP COHORT. THE FUND WORKS WITH THE REGIONAL NONPROFIT SECTOR TO NOT ONLY HELP ORGANIZATIONS SURVIVE THE PANDEMIC BUT TO PREPARE FOR THE CHANGES THAT WILL LIKELY OCCUR INCLUDING CHANGES TO FUNDING CYCLES, PHILANTHROPIC PRIORITIES, AND AN INCREASE EMPHASIS ON COLLABORATION. THIS HAS LED TO THE LAUNCH OF VARIOUS LEARNING COHORTS WITH NONPROFITS ON TOPICS SUCH ASARTIFICIAL INTELLIGENCE, HUMAN RESOURCES, EQUITABLE ENTREPRENEURISM, FUNDRAISING AND ADVOCACY, REVENUE DIVERSIFICATION, SUCCESSION PLANNING, OPERATIONAL RESERVES, AND SCENARIO PLANNING. THE FUND HAS WORKED WITH A GROUP OF SKILLS PRACTITIONERS, EDUCATORS, DOCTORS, SCIENTISTS, AND PHILANTHROPISTS TO ADDRESS THE IMPACT ON THE PANDEMIC ON RESILIENT COMMUNITIES AROUND THE COMMONWEALTH OF PENNSYLVANIA. THIS WORK WAS IN COLLABORATION WITH THE PA SECRETARY OF HEALTH AND IS FOCUSED ON ADDRESSING CURRENT HEALTH AND HEALTHCARE INEQUITIES, EQUIPPING FEDERALLY QUALIFIED HEALTH CENTERS WITH RESOURCES LIKE CONTACT TRACERS, AND SUPPORTING WORKFORCE AND SOCIAL SECTOR INVESTMENTS FOR ESSENTIAL WORKERS WHO ARE MORE LIKELY TO CONTRACT THE DISEASE.THE FUND HAS ALSO PARTNERED WITH TECHNOLOGY COMPANIES TO SUPPORT NONPROFIT ADOPTION TO EMERGING TECHNOLOGIES LIKE ASSISTED INTELLIGENCE. THE FUND NOW ALIGNS ALL SERVICES WITH THE SOCIAL DETERMINATES OF HEALTH ("SDOH") AND UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS ("UNSDG") TO SHOW THE LOCAL AND GLOBAL IMPACTS OF THE REGION. THIS NEW APPROACH TO ECOSYSTEMS DEVELOPMENT REQUIRES LEVERAGING PARTNERSHIPS AND TOOLS TO ESTABLISH SHARED GOALS. THE GOAL IS TO NOT ONLY IMPROVE ORGANIZATIONAL CAPACITY OF NONPROFITS BUT TO ENSURE THAT THE POPULATIONS SERVED BY ORGANIZATIONS THE FUND SUPPORTS WILL BENEFIT AS WELL. THE PREMISE IS THAT INDIVIDUALS SERVED BY THE ORGANIZATIONS THE FUND SUPPORTS ARE OFTENTIMES DEALING WITH MORE THAN ONE ISSUE, AND A HOLISTIC, COLLABORATIVE APPROACH INVOLVING THE INPUT OF MULTIPLE ORGANIZATIONS IS NECESSARY. THE FUND'S WORK IS CENTERED AROUND MORE THAN TRANSACTIONAL RELATIONSHIPS AND APPROACHES; THE AIM IS TO FOSTER TRANSFORMATIONAL PARTNERSHIPS AND TO OPTIMIZE HOW THE NONPROFIT ECOSYSTEM INTERACTS WITH FUNDERS, GOVERNMENT, PRIVATE SECTOR AND OTHERS IN THE PITTSBURGH REGION. CURRENTLY, THE FUND IS EXPLORING CO-DESIGNED APPROACHES THAT ARE ITERATIVE AND AGILE, ESPECIALLY AS THE NONPROFIT SECTOR ADDRESSES THE REALITIES OF ECONOMIC STRESSES AND SHOCKS TO THE REGION. RECOGNIZING THAT THESE STRESSES AND SHOCKS WILL PUT UNTOLD STRAIN ON SOUTHWESTERN PENNSYLVANIA, THE FUND'S INTENTION WILL BE MOVING FROM SYSTEMS CHANGE TO ECOSYSTEMS COCREATION--WHERE DIVERSE NETWORKS AND CROSS-SECTORAL PARTNERSHIPS CAN HAVE VIBRANT EXCHANGES OF IDEAS AND WHERE LEADERS CAN DRIVE SHARED SOLUTIONS.

    Expenses $49,311

  • SOCIAL INNOVATION: ACCELERATING THE DEVELOPMENT OF PARTNERING MODELS AND TECHNOLOGICAL INNOVATION, LIKE ARTIFICIAL INTELLIGENCE, TO REDUCE EXPENSES AND/OR INCREASE THE IMPACT OF COMMUNITY NONPROFIT ORGANIZATIONS.

    Expenses $398,154

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ELISABETH SCHROEDER

    MEMBER AT LARGE

    Total calculated
    $720,300
    From this org
    $0
    From related orgs
    $647,859
    Other
    $72,441
    Hours/week
    1 + 51.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $576,186 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $11,673 related
    Deferred
    $0 + $55,200 related
    Nontaxable benefits
    $0 + $17,241 related
    Filer's total
    $0 + $720,300 related

  • JONATHAN BRELSFORD

    MEMBER AT LARGE

    Total calculated
    $379,505
    From this org
    $0
    From related orgs
    $307,282
    Other
    $72,223
    Hours/week
    1 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $304,833 related
    Bonus
    $0
    Other
    $0 + $2,449 related
    Deferred
    $0 + $31,255 related
    Nontaxable benefits
    $0 + $40,968 related
    Filer's total
    $0 + $379,505 related

  • JASON JONES

    TREASURER

    Total calculated
    $4,575
    From this org
    $4,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • BILL ISLER

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JAMES E TAYLOR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • KATHY HUMPHREY

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • SYLVIA FIELDS

    MEMBER AT LARGE (EXIT 3/24)

    Total calculated
    $0
    Hours/week
    1

  • JEREMIAH BROOKER

    MEMBER AT LARGE (ENTER 6/24)

    Total calculated
    $0
    Hours/week
    1

  • STANLEY LITOW

    MEMBER AT LARGE (ENTER 6/24)

    Total calculated
    $0
    Hours/week
    1

  • FRED BROWN

    PRESIDENT/CEO

    Total calculated
    $293,789
    From this org
    $230,023
    From related orgs
    $0
    Other
    $63,766
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $217,316
    Bonus
    $7,000
    Other
    $5,707
    Deferred
    $22,496
    Nontaxable benefits
    $41,270
    Filer's total
    $293,789

  • OLIVIA BENSON GALLINA

    CHIEF OPERATING OFFICER

    Total calculated
    $156,787
    From this org
    $104,152
    From related orgs
    $0
    Other
    $52,635
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $100,505
    Bonus
    $3,500
    Other
    $147
    Deferred
    $10,927
    Nontaxable benefits
    $41,708
    Filer's total
    $156,787

  • HANNAH KAROLAK

    CHIEF PROGRAM OFFICER

    Total calculated
    $147,328
    From this org
    $102,896
    From related orgs
    $0
    Other
    $44,432
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION PROVIDED COUNTRY CLUB MEMBERSHIP DUES FOR THE PRESIDENT/CEO TO CONDUCT BUSINESS.
PART I, LINE 7
DURING 2024, THE PRESIDENT/CEO RECEIVED A BONUS OF $7,000 AND THE CHIEF OPERATING OFFICER RECEIVED A BONUS OF $3,500.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202533179349306673

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