Overview
What is Forward Community Investments Inc?
Forward Community Investments Inc, established in 1994, is a Wisconsin-based nonprofit organization that supports mission-driven organizations by providing loan capital, financial expertise, and organizational capacity building. Located at 2045 Atwood Ave 101A, Madison, WI 53704, their activities encompass developing and maintaining relationships with clients, lenders, and investors; processing loan requests; underwriting; loan servicing; technical assistance and consulting for clients; and raising and servicing investments. Over the years, FCI has lent nearly $88.5 million to over 387 organizations, making a positive impact on more than 720,000 people by creating or retaining nearly 6,620 jobs and generating over 2,600 units of affordable housing. With a mission to reduce social, racial, and economic disparities in Wisconsin communities, FCI serves as an investor, connector, and advisor for initiatives that aim to create a more equitable society.
Official website here: www.forwardci.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 92%, Four-Star out of Four Star rating.
Forward Community Investments Inc demonstrates a strong commitment to accountability and finance, achieving a high score of 92%. This rating reflects the organization's effective management, with a fully independent board comprising 10 members and robust oversight mechanisms in place, including a thorough audit committee and strong policies for conflict of interest and whistleblowing.
The nonprofit shows impressive financial stewardship, evidenced by its program expense ratio of 78.36%, indicating that a significant portion of its funding is directed toward its mission-related programs. Additionally, the absence of material diversion of assets speaks to its integrity and operational transparency.
However, the liabilities to assets ratio of 54.96% suggests that while the organization is managing its assets responsibly, there may be considerations regarding its financial leverage. Overall, Forward Community Investments Inc stands out for its strong governance and focus on accountability, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Forward Community Investments Inc legitimate?
Forward Community Investments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Forward Community Investments Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $344,467
Professional Fundraising Fees: $0
Other Salaries and Wages: $766,782
For more financial information, click here
Official website here: www.forwardci.org
What is the mission statement of Forward Community Investments Inc?
Forward Community Investments Inc, as an investor, connector, and advisor, focuses on reducing social, racial, and economic disparities in Wisconsin communities. Since its establishment in 1994, it has supported mission-driven organizations by providing loan capital, financial expertise, and organizational capacity building for affordable housing, community services, and economic development initiatives. Over the years, FCI has lent nearly $88.5 million to over 387 organizations, impacting more than 720,000 individuals. Their loans have also attracted additional funding of three times the initial investment, contributing to the creation of over 2,600 units of affordable housing and almost 6,620 jobs. The organization's community lending services involve activities such as client, lender, and investor relations management, loan processing, underwriting, loan servicing, technical assistance, and consulting for clients, as well as raising and servicing investments.
Official website here: www.forwardci.org
Who is the CEO of Forward Community Investments Inc?
Ryan Zerwer is the Co-Chair of Forward Community Investments Inc. The CEO's salary of Forward Community Investments Inc is $205,432 and their total compensation is $226,857.
Official website here: www.forwardci.org
What is the revenue of Forward Community Investments Inc?
Forward Community Investments Inc's revenue in 2022 was $5,155,108.
Official website here: www.forwardci.org
Who are the executives of Forward Community Investments Inc and what are their salaries?
There 10 volunteers at Forward Community Investments Inc.
Here are 15 key members and their salaries (Forward Community Investments Inc's CEO's salary is $205,432 and their total compensation is $226,857):
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- Compensation: $99,799
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- Other: $17,811
- Compensation: $205,432
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- Other: $21,425
- Compensation: $127,516
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- Other: $16,584
- Compensation: $129,147
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- Other: $23,915
- Compensation: $113,912
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- Other: $26,249
Official website here: www.forwardci.org
Where can I find the form 990 for Forward Community Investments Inc?
Forward Community Investments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.forwardci.org
Learn more at the official website: www.forwardci.org
Mission Statement of Forward Community Investments Inc
Forward Community Investments Inc, established in 1994, serves as an investor, connector, and advisor for mission-driven organizations in Wisconsin. Its primary goal is to reduce social, racial, and economic disparities within Wisconsin communities. The organization achieves this mission by providing loan capital, financial expertise, and organizational capacity building to organizations working in affordable housing, community services, and economic development initiatives.
Over the years, Forward Community Investments Inc has lent nearly $88.5 million to over 387 organizations, positively impacting over 720,000 people. This funding not only seeds but also leverages additional private and government funding at a rate of 3:1 for community projects across Wisconsin. As a result, Forward Community Investments Inc has contributed to the creation or retention of nearly 6,620 jobs and has funded the development of more than 2,600 units of affordable housing.
In addition to its lending services, Forward Community Investments Inc plays an active role in developing and maintaining relationships with clients, lenders, and investors. The organization processes loan requests, provides underwriting, loan servicing, technical assistance, and consulting for its clients. Furthermore, Forward Community Investments Inc raises and services investments to support its mission, making it an invaluable resource for mission-driven organizations in Wisconsin.
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Impact
July, 2024
Forward Community Investments Inc has made a significant impact since 1994 by supporting mission-based, Wisconsin-headquartered organizations. Through providing loan capital, financial expertise, and organizational capacity building for affordable housing, community services, and economic development initiatives, FCI has lent close to $88.5 million to over 387 mission-driven organizations. This support has positively impacted the lives of more than 720,000 people in Wisconsin.
Furthermore, FCI's loans have seeded and leveraged additional private and government funding at a rate of 3:1 for community projects across the state. This has resulted in the generation of more than 2,600 units of affordable housing and the creation or retention of close to 6,620 jobs. As an investor, connector, and advisor, Forward Community Investments Inc plays a crucial role in reducing social, racial, and economic disparities in Wisconsin communities through its community lending services and strategic initiatives.
This information is meant to be a general summary of Forward Community Investments Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $120,130
- Program Service Revenue: $2,414,597
- Gross Receipts: $5,155,108
Assets and Liabilities:
- Total Assets: $29,924,868
- Total Liabilities: $16,449,042
- Net Assets: $13,475,826
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LENDING AND LOAN SERVICE FEES
Revenue
$1,559,861
LOAN INTEREST
Revenue
$854,736
Organization Details
Founding Year
1994
Phone
(866) 687-1468Principal Officer
Ryan Zerwer
Main Address
2045 ATWOOD AVE 101A, MADISON, WI, 537046605
Website
www.forwardci.orgNTEE Category
Code: S400 - Community improvement
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