Herman Forbes Charitable Trust
- Assets
- $5.4m
- Revenue
- $284.4k
- Investments
- $5.2m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 00/0000
- Data as of
- 03/2023
- EIN
- 13-6814404
Organization Overview
Herman Forbes Charitable Trust is located in Chicago, IL. The organization was established in 0000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Herman Forbes Charitable Trust 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 03/2023, Herman Forbes Charitable Trust generated $284.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $480.6k during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Herman Forbes Charitable Trust has awarded 120 individual grants totaling $1,759,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 10 | $75,824 | |
Benjamin A Hering ESQ Co-Trustee | 1 | $7,598 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $130,047 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $154,316 |
| Capital Gain Net Income | $154,316 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8 |
| Total Revenue | $284,371 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $83,422 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,055 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $250 |
| Total operating and administrative expenses | $100,092 |
| Contributions, gifts, grants paid | $380,500 |
| Total expenses and disbursements | $480,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,688 |
| Savings and temporary cash investments | $139,970 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $374,730 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,445,548 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Herman Forbes Charitable Trust has awarded $380,500 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
JEWISH FAMILY SERVICES PURPOSE: GENERAL | $10,000 |
YESHIVA UNIVERSITY PURPOSE: GENERAL | $5,000 |
CAMP RAMAH IN THE BERKSHIRES PURPOSE: GENERAL | $2,500 |
CONGREGATION SONS OF ISRAEL PURPOSE: GENERAL | $5,000 |
SAR ACADEMY PURPOSE: GENERAL | $40,000 |
THE FLORIDA ORCHESTRA PURPOSE: GENERAL | $25,000 |