Forbes Avenue Foundation

Analysis

Forbes Avenue Foundation is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in April 2019, 7 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 June 2023, Forbes Avenue Foundation reported income of $332k and spending of $311k, spending 94% of its income. Across the 4 years on record, from December 2020 to June 2023, income grew from $101k to $332k (+230%), an average of +49% a year. The sharpest change came in the year to June 2023, when income rose by 322%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Forbes Avenue Foundation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within PA. Charities of a similar size with the same main cause include Aspen Santa Fe Ballet Fund ($332k), Nebraska Music Education Association ($333k) and Red Media ($332k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $112k (36% of expenses). At year end it held assets of $72k against liabilities of $1,973, net assets of $70k. It reported 10 employees.