Forbes House

Analysis

Forbes House is a registered charity in United States, based in Painesville, OH. It received its IRS tax-exemption ruling in December 1979, 47 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Forbes House reported income of $1.1m and spending of $922k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $806k to $1.1m (+38%), an average of +8.4% a year. The sharpest change came in the year to December 2023, when income rose by 95%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Forbes House sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Oregon Falun Dafa Association ($1.1m), New Life Directions Ministries Inc ($1.1m) and New Jersey School-Age Child Care Coalition ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $88k (9.5% of expenses). Other salaries and wages came to $476k. At year end it held assets of $1.9m against liabilities of $637k, net assets of $1.3m. It reported 28 employees.