Forward Inc
- Assets
- $7.1m
- Revenue
- $435.5k
- Investments
- $1.6m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 03/1987
- Data as of
- 12/2021
- EIN
- 04-2771148
Organization Overview
Forward Inc is located in Boston, MA. The organization was established in 1987. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Forward Inc generated $435.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $946.2k during the year ending 12/2021. While expenses have increased by 9.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 34 UNITS OF HOUSING TO ELDERLY AND HANDICAPPED INDIVIDUALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria Williams Co-President | 2 | $0 | |
Rudolph R Russell Jr Co-President | 2 | $0 | |
Royal L Bowling Director | 2 | $0 | |
Richard Brown Director | 2 | $0 | |
Nancy Emerson-Lombardo Clerk | 2 | $0 | |
Marilyn Flowers Marion Assistant Clerk | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $435,501 |
| Total Revenue | $435,501 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $58,248 |
| Pension plans, employee benefits | $0 |
| Interest | $55,272 |
| Taxes | $27,278 |
| Depreciation | $181,988 |
| Occupancy | $84,060 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $467,621 |
| Total operating and administrative expenses | $946,235 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $946,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,318 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $1,204,148 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,167 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,552,424 |
| Net Land, buildings, and equipment | $3,703,109 |
| Other assets | $303,433 |
| Total assets | $7,125,599 |
| Accounts payable and accrued expenses | $36,876 |
| Grants payable | $0 |
| Deferred revenue | $535,819 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $3,699,308 |
| Other liabilities | $890,263 |
| Total liabilities | $5,162,266 |
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