Forever 56 Foundation

Analysis

Forever 56 Foundation is a registered charity in United States, based in Verona, WI. It received its IRS tax-exemption ruling in October 2023, 3 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Forever 56 Foundation reported income of $60k and spending of $39k, leaving 36% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $12k to $60k (+401%), an average of +71% a year. The sharpest change came in the year to December 2021, when income rose by 185%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Forever 56 Foundation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 20th percentile within WI. Charities of a similar size with the same main cause include Merced Rotary Club Foundation ($60k), MW Cares Foundation ($60k) and Mac Angels Foundation Inc ($60k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $113k against liabilities of $0, net assets of $113k.