Business Forward Foundation

Analysis

Business Forward Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Business Forward Foundation reported income of $474k and spending of $762k, spending 161% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $474k (-54%), an average of -18% a year. The sharpest change came in the year to December 2023, when income dropped by 47%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Business Forward Foundation 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 69th percentile, and in the 42nd percentile within DC. Charities of a similar size with the same main cause include Pan American Dance Foundation Inc ($474k), Drumming for Your Life Institute ($474k) and Florida Vocal Association Incorporated ($474k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $425k (56% of expenses). Other salaries and wages came to $39k. At year end it held assets of $545k against liabilities of $0, net assets of $545k. It reported 5 employees.