Forward Southern West Virginia Inc
- Assets
- $603.7k
- Revenue
- $20.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Beckley, WV
- Founding
- 01/2000
- Data as of
- 06/2022
- EIN
- 55-0769694
Organization Overview
Forward Southern West Virginia Inc is located in Beckley, WV. The organization was established in 2000. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, 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 Southern West Virginia 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 06/2022, Forward Southern West Virginia Inc generated $20.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $59.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCOMPLISH THE ECONOMIC REVITALIZATION OF SO.WV THRU INITIATIVES IN EDU.COOPERATION & DEVEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEVILLE ST. PROJECT-REVITALIZATION OF FORMER DOWNTOWN COMMERICAL BLDGS AND FOUNDATION HEAD QUARTERS BUILDING. SUPPORT OF ECONOMIC & EDUCATIONAL DEVELOPMENT AND PROGRESS IN SOUTHERN WEST VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Baker President | Trustee | 10 | $0 |
Nancy Kissenger Sec. - Treas. | Trustee | 0 | $0 |
Austin Caperton Director | Trustee | 0 | $0 |
Charlie Houck Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,564 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,370 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,905 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,747 |
| Information technology | $369 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,232 |
| Insurance | $0 |
| All other expenses | $1,015 |
| Total functional expenses | $58,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,455 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $130,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $212,839 |
| Investments—publicly traded securities | $234,225 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,211 |
| Total assets | $603,730 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,037 |
| Total liabilities | $10,037 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $593,693 |
| 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 | $603,730 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Forward Southern West Virginia Inc has recieved totaling $110,000.
| Awarding Organization | Amount |
|---|---|
One Foundation Beckley, WV PURPOSE: WORKING CAPITAL OPERATIONS | $60,000 |
Massey Foundation Richmond, VA PURPOSE: NEW RIVER GORGE REGIONAL BUSINESS ACCELERATOR | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |
Maryland Manufacturing Service Inc Salisbury, MD | $279,305 | $5,207,545 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,237,042 | $3,964,847 |
Enterprise Center Philadelphia, PA | $14,775,584 | $14,297,548 |
Pidc Community Capital Philadelphia, PA | $51,592,924 | $9,506,766 |
Downtown Cleveland Improvementcorporation Cleveland, OH | $5,269 | $4,399,889 |
North Central Pennsylvania Regional Planning And Development Commi Ridgway, PA | $10,860,037 | $4,914,515 |
Historic East Baltimore Community Action Coalition Inc Baltimore, MD | $9,898,806 | $3,562,151 |
Prince Georges County Economic Development Corporation Largo, MD | $6,056,042 | $4,300,935 |
Ohio Capital Finance Corporation Columbus, OH | $139,771,046 | $8,872,596 |