Forum Credit Union

Analysis

Forum Credit Union is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in May 1969, 57 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a private non-operating foundation under section 501(c)(3).

In the financial year ending December 2023, Forum Credit Union reported income of $122.0m and spending of $96.1m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $84.0m to $122.0m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Forum Credit Union sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Marymount University ($121.8m), Adventist Bolingbrook Hospital ($122.5m) and Mid-Ohio Foodbank ($121.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 92% of the total. Compensation of current officers, directors and key employees was $2.6m (2.7% of expenses). Other salaries and wages came to $27.2m. At year end it held assets of $2.06bn against liabilities of $1.82bn, net assets of $241.2m. It reported 452 employees.