Forward Community Investments Inc
- Assets
- $29.4m
- Revenue
- $3.7m
- Investments
- $595.9k
- Employees
- 0
- Location
- Madison, WI
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 39-1815578
Organization Overview
Forward Community Investments Inc is located in Madison, WI. The organization was established in 1995. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Community Investments 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 Community Investments Inc generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1994, FORWARD COMMUNITY INVESTMENTS (FCI) HAS SUPPORTED MISSION-BASED, WISCONSIN-HEADQUARTERED ORGANIZATIONS BY PROVIDING LOAN CAPITAL, FINANCIAL EXPERTISE, AND ORGRANIZATIONAL CAPACITY BUILDING FOR AFFORDABLE HOUSING, COMMUNITY SERVICES, AND ECONOMIC DEVELOPMENT INITIATIVES. DURING THAT TIME PERIOD, FCI LENT CLOSE TO $88.5 MILLION TO 387+ MISSION-DRIVEN ORGANIZATIONS, MAKING A DIFFERENCE IN THE LIVES OF MORE THAN 720,000 PEOPLE. FCI'S LOANS HAVE SEEDED AND LEVERAGED ADDITIONAL PRIVATE AND GOVERNMENT FUNDING AT A RATE OF 3:1 FOR COMMUNITY PROJECTS ACROSS WISCONSIN, GENERATING MORE THAN 2,600 UNITS OF AFFORDABLE HOUSING, AND CREATING OR RETAINING CLOSE TO 6,620 JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LENDING SERVICES - BY 2021 YEAR-END, FCI CLOSED ALMOST $3.4 MILLION IN NEW LOANS TO ORGANIZATIONS ACROSS WISCONSIN. IN ADDITION, FCI CLOSED $7 MILLION IN NEW MARKET TAX CREDITS TRANSACTION FOR A $7 MILLION RURAL HEALTH CLINIC IN LADYSMITH, WISCONSIN. NMTC ARE USED FOR REVITALIZING LOW-INCOME COMMUNITIES AND INCREASING ECONOMIC OPPORTUNITIES FOR MARGINALIZED POPULATIONS.
COMMUNITY INVESTMENTS - WITH THE ONSET OF THE COVID-19 PANDEMIC IN 2020, FCI PIVOTED ITS FORWARD GIVING PROGRAM TO PROVIDING NONPROFIT CAPACITY BUILDING GRANTS. THESE GRANTS WERE FOCUSED ON PROVIDING OPERATIONAL FUNDS TO SMALL NONPROFITS WITH LESS THAN 10 EMPLOYEES AND BUDGETS UNDER $500,000 THAT CHANGED THEIR MODEL OR SERVICES DUE TO COVID-19. IN 2021, FCI'S AWARDED $115,250 IN GRANTS, INCLUDING THE NONPROFIT CAPACITY BUILING GRANTS AND THE NAN CHENEY MARCH FOR JUSTICE AWARD.
COMMUNITY DEVELOPMENT SERVICES - FCI ALSO CONTINUED EXPANDING THE EMERGING DEVELOPERS LOAN FUND THAT WAS SEEDED WITH AN INVESTMENT AND GRANT FROM THE WELLS FARGO DIVERSE COMMUNITIES CAPITAL PROGRAM. THE PURPOSE OF THE LOANS IS TO GROW THE FINANCIAL CAPACITY OF EMERGING DEVELOPERS IDENTIFIED BY THEIR RACE AND GENDER WHO ARE NEW TO THE FIELD OF REAL ESTATE DEVELOPMENT. LOANS ARE USED TO DEVELOP PROJECTS, STIMULATE COMMUNITY STABILIZATION AND REVITALIZATION AND PROMOTE WEALTH CREATION IN MILWAUKEE-BASED NEIGHBORHOODS. AS OF 2021 YEAR-END, FCI HAS CLOSED $5.7M IN LOANS TO 15 EMERGING DEVELOPERS SINCE 2015; 100% BIPOC-LED AND 23% WOMEN-LED PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Hubbard Coo/cfo | Officer | 40 | $243,554 |
Rebecca Bains Controller | 1 | $108,276 | |
Robert Beach Program Manager | 1 | $107,505 | |
Ryan Zerwer President & CEO | Officer | 40 | $61,647 |
Mike Flynn Vice Chair | OfficerTrustee | 1 | $0 |
Pamela Guthman Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $684,464 |
| All other contributions, gifts, grants, and similar amounts not included above | $942,918 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,627,382 |
| Total Program Service Revenue | $1,886,542 |
| Investment income | $21,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,500 |
| Net Gain/Loss on Asset Sales | $202,315 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,745,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,250 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $323,564 |
| Compensation of current officers, directors, key employees. | $130,857 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $769,306 |
| Pension plan accruals and contributions | $33,327 |
| Other employee benefits | $64,576 |
| Payroll taxes | $78,159 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,281 |
| Fees for services: Accounting | $31,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,305 |
| Fees for services: Other | $59,089 |
| Advertising and promotion | $28,506 |
| Office expenses | $88,733 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,133 |
| Interest | $374,948 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,515 |
| Insurance | $18,885 |
| All other expenses | $5,361 |
| Total functional expenses | $2,081,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,365 |
| Savings and temporary cash investments | $10,868,314 |
| Pledges and grants receivable | $521,725 |
| Accounts receivable, net | $143,258 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,553 |
| Net Land, buildings, and equipment | $14,220 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $595,885 |
| Investments—program-related | $16,807,400 |
| Intangible assets | $0 |
| Other assets | $116,788 |
| Total assets | $29,361,508 |
| Accounts payable and accrued expenses | $103,619 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $159,427 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $15,657,528 |
| Other liabilities | $1,615,680 |
| Total liabilities | $17,536,254 |
| Net assets without donor restrictions | $8,767,277 |
| Net assets with donor restrictions | $3,057,977 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,361,508 |
Grants Awarded
Over the last fiscal year, Forward Community Investments Inc has awarded $134,930 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Stevens Point, WI PURPOSE: GENERAL SUPPORT | $54,000 |
Madison, WI PURPOSE: GENERAL SUPPORT | $50,000 |
Madison, WI PURPOSE: GENERAL SUPPORT | $9,700 |
Hales Corners, WI PURPOSE: GENERAL SUPPORT | $8,000 |
Dodgeville, WI PURPOSE: GENERAL SUPPORT | $8,000 |
Madison, WI PURPOSE: GENERAL SUPPORT | $5,230 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Forward Community Investments Inc has recieved totaling $610,000.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: CBFC EMERGENCY FUND | $500,000 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI PURPOSE: GENERAL OPERATIONS | $50,000 |
Human Family Unity Foundation Chicago, IL PURPOSE: GENERAL FUND | $30,000 |
Greater Green Bay Community Foundation Inc Green Bay, WI PURPOSE: PUBLIC BENEFIT & COMMUNITY IMPROVEMENT PROGRAM SUPPORT | $30,000 |
Endowment Analysis
| Beg. Balance | $1,032,760 |
| Earnings | $23,043 |
| Admin Expense | $2,305 |
| Ending Balance | $1,053,498 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Midway Airlines Terminal Consortium Chicago, IL | $5,016,144 | $16,801,841 |
Initiative Foundation Little Falls, MN | $95,633,483 | $21,753,358 |
Automation Alley Troy, MI | $10,050,141 | $14,162,417 |
Southwest Initiative Foundation Hutchinson, MN | $108,678,960 | $12,722,630 |
Julie Inc Joliet, IL | $17,181,914 | $10,586,687 |
International Accreditation Service Inc Country Club Hills, IL | $30,369,423 | $13,023,651 |
International Automotive Oversight Bureau Southfield, MI | $23,323,319 | $7,456,066 |
Better Business Bureau Of Chicago And Northern Illinois Inc Chicago, IL | $9,345,951 | $7,242,725 |
Somercor 504 Inc Chicago, IL | $3,029,721 | $5,498,037 |
Midwest Minnesota Community Development Corporation Detroit Lakes, MN | $81,373,559 | $8,284,111 |
Chicago Minority Supplier Development Council Inc Chicago, IL | $1,146,742 | $3,861,380 |
The International Joint Commission On Allied Health Personnel In Opht St Paul, MN | $4,513,334 | $4,493,708 |