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Nonprofiteer
← THE FORBES FUNDS

Form 990 for tax year 2023

Filed by THE FORBES FUNDS.

Totals

Total revenue
$2,655,431
Total expenses
$2,593,246
Contributions and grants received
$1,960,108
Grants paid
$210,000
Program service revenue
$230,091
Investment income
$465,232
Other revenue
$0
Total assets, end of year
$10,327,800
Total liabilities, end of year
$572,272
Net assets or fund balances, end of year
$9,755,528
Program services expenses (Part IX)
$1,931,750
Management and general expenses
$536,185
Fundraising expenses
$125,311
Program service expenses (Part III)
$1,931,750

Program services were 74.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ELISABETH SCHROEDER

    MEMBER AT LARGE

    Total calculated
    $690,102
    From this org
    $0
    From related orgs
    $616,727
    Other
    $73,375
    Hours/week
    1 + 51.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $545,283 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $11,444 related
    Deferred
    $0 + $56,000 related
    Nontaxable benefits
    $0 + $17,375 related
    Filer's total
    $0 + $690,102 related

  • JONATHAN BRELSFORD

    MEMBER AT LARGE

    Total calculated
    $361,451
    From this org
    $0
    From related orgs
    $293,187
    Other
    $68,264
    Hours/week
    1 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,865 related
    Bonus
    $0
    Other
    $0 + $2,322 related
    Deferred
    $0 + $29,766 related
    Nontaxable benefits
    $0 + $38,498 related
    Filer's total
    $0 + $361,451 related

  • JASON JONES

    TREASURER

    Total calculated
    $12,100
    From this org
    $12,100
    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

  • ANN E CUDD

    MEMBER AT LARGE (EXITED 6/23)

    Total calculated
    $0
    Hours/week
    1

  • SYLVIA FIELDS

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • FRED BROWN

    PRESIDENT/CEO

    Total calculated
    $284,187
    From this org
    $221,272
    From related orgs
    $0
    Other
    $62,915
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $209,554
    Bonus
    $10,000
    Other
    $1,718
    Deferred
    $21,841
    Nontaxable benefits
    $41,074
    Filer's total
    $284,187

  • OLIVIA BENSON

    CHIEF OPERATING OFFICER

    Total calculated
    $153,203
    From this org
    $102,909
    From related orgs
    $0
    Other
    $50,294
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $98,268
    Bonus
    $4,500
    Other
    $141
    Deferred
    $10,608
    Nontaxable benefits
    $39,686
    Filer's total
    $153,203

  • HANNAH KAROLAK

    CHIEF PROGRAM OFFICER

    Total calculated
    $145,336
    From this org
    $100,595
    From related orgs
    $0
    Other
    $44,741
    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

  • 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 7
THE PRESIDENT/CEO RECEIVED A BONUS OF $10,000.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349313486

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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