482forward

Analysis

482forward is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, 482forward reported income of $1.9m and spending of $2.1m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $605k to $1.9m (+216%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 133%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, 482forward sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include University of the Philippines Medical Alumni Society in America ($1.9m), Nasha Shkola ($1.9m) and Hope Academy Gso Inc ($1.9m).

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 $64k (3.0% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $1.6m against liabilities of $373k, net assets of $1.2m.