Forward Service Corporation

Analysis

Forward Service Corporation is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in June 1980, 46 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Forward Service Corporation reported income of $27.9m and spending of $29.7m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.9m to $27.9m (+7.7%), an average of +1.9% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Forward Service Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within WI. Charities of a similar size with the same main cause include Upper East Tennessee Human Development Agency ($27.8m), Lincoln Training Center & Rehabilitation Workshop ($28.1m) and Minot Vocational Adjustment Workshop ($27.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $609k (2.1% of expenses). Other salaries and wages came to $16.0m. At year end it held assets of $18.6m against liabilities of $4.1m, net assets of $14.5m. It reported 388 employees.